The global IR Spectroscopy Market Trends is expected to reach USD 1,548.9 million by 2026, registering a 6.53% CAGR during the forecast period, 2020–2026. Factors such as growing investments in the healthcare & pharmaceutical industry continuous technological advancements are expected to drive the demand for IR spectroscopy techniques across the globe.
Based on technology, the IR Spectroscopy Market Trends has been segmented into near-infrared spectroscopy, mid-infrared spectroscopy, and far-infrared spectroscopy. The mid-infrared spectroscopy segment dominated the market in 2019, whereas the far-infrared spectroscopy segment is expected to register the highest CAGR during the study period from 2020 to 2026.
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The geographical analysis of the global IR Spectroscopy Market Trends has been done for North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to account for the second-largest share in the IR spectroscopy market, in terms of market size. The regional market has been divided into the UK, Germany, France, and the rest of Europe. The increased investments in research & development projects being carried out in the healthcare & pharmaceuticals industry are the key growth drivers for the region. Furthermore, the region is witnessing a rise in partnership amongst the key market players.
The rest of the world comprises South America, and the Middle East, and Africa. The market in the Middle East & Africa is expected to register a significant CAGR during the review period. The advancements in the field of biological research in the region fuel growth of the regional market.
The key players profiled in the global IR spectroscopy market research report Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer, Inc., Horiba Limited, Shimadzu Corporation, Metrohm, Bruker Corporation, Hitachi High-Technologies Corporation, Jasco, Newport Corporation, Oxford Instruments, Sartorius AG, and Teledyne Princeton Instruments.
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