San
Francisco, 15 October 2018 - The global process spectroscopy market size is estimated to
reach USD 25.10 billion by 2025, according to a new report by Grand View
Research, Inc., progressing at a CAGR of 7.5% during the forecast period.
Growing efforts in the pharmaceutical industry to undertake advanced research
and development is leading to increased adoption of various spectroscopy
techniques over the forecast period.
The technology is anticipated to witness healthy
growth owing to rising awareness regarding the importance of product quality
among industries. Reducing operational expenditure is another factor expected
to drive the market over the forecast period. Furthermore, significant R&D
activities are undertaken, which have led to several drug discoveries.
Increasing number of drug discovery processes is leading to a greater number of
treatment options for various diseases. Treatment options include drugs as well
as non-drug therapies such as surgeries and radiations.
Surging demand for spectroscopic techniques and
related equipment installations across the globe are poised to augment the
market over the forecast period. The process spectroscopy market is likely to
witness tremendous growth over the forecast years, owing to increasing
awareness of quality spectroscopic devices among end-use industries.
Technological advancements necessitate matching
international quality standards, such as ISO or Six Sigma, and cost- &
time-saving approaches of companies are encouraging adoption of process
spectroscopic instruments. Increasing availability of counterfeit products in
the market are mandating governments globally to educate masses about quality
products and quality standards.
Molecular spectroscopy is a technology that is
widely adopted across different application sectors including pharmaceuticals
and food & agriculture. The molecular spectroscopy segment held the largest
share in the market in 2017 and is projected to maintain its dominance over the
forecast period.
Additionally, the Raman spectroscopy technology is
gaining popularity across the agricultural sector owing to its ability to allow
non-destructive extraction of chemicals and physical information about samples
of fruits, vegetables, and food grains and it helps in rapid analysis of these
food items. Hence, these advantages of spectroscopic techniques are attracting
new applications across the food & agricultural sector, ultimately
fostering the growth of the global process spectroscopy market.
Although, the considerable initial investment
required for installation of spectroscopic equipment have forced industry
players to pass the cost onto consumers, thereby increasing prices of process
spectroscopic instruments. However, emergence of cost-effective technologies in
the coming years can lead to reduction in prices of these instruments.
Full
Research Report On Global Process Spectroscopy Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/process-spectroscopy-market
www.grandviewresearch.com/industry-analysis/process-spectroscopy-market
Further key findings from the report suggest:
- Several law enforcement authorities and
government regulatory bodies imposed for betterment of product quality in
the food & agriculture sector are encouraging the manufacturing &
packaging industries to adopt measures to meet imposed specifications
- The adoption of various spectroscopic
techniques is expected to rise significantly over the forecast period in
the pharmaceutical and food & agriculture segments
- The Asia Pacific market is estimated to witness
tremendous growth over the forecast period
- The key industry participants include ABB
Group, Buchi Labortechnik AG, Danaher Corporation, Shimadzu Corporation,
and Sartorius AG
- The prominent strategies followed by large
market players include signing partnerships or distribution agreements and
mergers & acquisitions along with enriching their portfolios by
involving in intense R&D practices.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global process
spectroscopy market based on technology, application, component, and region:
Process
Spectroscopy Technology Outlook (Revenue, USD Billion, 2014 - 2025)
- Molecular Spectroscopy
- Near Infrared (NIR)
- Fourier-Transform Infrared (FT-IR)
- Raman
- Nuclear Magnetic Resonance (NMR)
- Others
- Mass Spectroscopy
- Atomic Spectroscopy
Process
Spectroscopy Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Polymer
- Oil & Gas
- Pharmaceuticals
- Food & Agriculture
- Chemicals
- Water & Wastewater
- Pulp & Paper
- Metal & Mining
- Others
Process
Spectroscopy Component Outlook (Revenue, USD Billion, 2014 - 2025)
- Hardware
- Software
Process
Spectroscopy Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East & Africa (MEA)
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-process-spectroscopy-market
www.grandviewresearch.com/press-release/global-process-spectroscopy-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
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