The global Near Infrared (NIR) spectroscopy market size is expected to reach USD 437.3 Million at a steady CAGR of 6.2% in 2028, according to latest analysis by Emergen Research. Near infrared spectroscopy market revenue growth is driven by steady rise in demand for specific tests and improved quality results. The technology offers various advantages and is used extensively in fields such as food, pharmacy, chemicals, and agriculture which is driving market revenue growth to a significant extent currently. Near infrared spectroscopy helps in identifying healthy and infected seeds. It can also classify the degree to which seeds are infected. Near infrared spectroscopy is an accurate and non-destructive detection method with potential for quality control of seeds and safety assessment, which drives its demand in agricultural industry. However, high cost of near infrared spectroscopy devices and lack of awareness are some factors hindering market growth.
The research report provides a comprehensive assessment of the market and provides a futuristic perspective about the market trends, growth factors, facts, and industry validated market data. It provides an in-depth assessment of market size, market share, revenue growth, along with a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. Rising investments and technological advancements are expected to significantly drive the growth of the market throughout the forecast period. The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.
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Some Key Highlights from the Report
- In March 2020, trinamiX GmbH, which is a subsidiary of BASF SE, launched mobile Near Infrared (NIR) spectroscopy solution. The company makes spectroscopy affordable and accessible beyond laboratory and factory applications. trinamiX is providing all the features, such as precise data and material analytics, mobile and robust hardware, and excellent chemical and molecular expertise in a single handheld device.
- Portable near infrared spectroscopy is powerful instrument which provides advantages for online, non-destructive or in situ analysis. These devices are cost-effective, small-sized, simpler, and robust with ergonomic design. The portable segment revenue is expected to register a rapid growth rate during the forecast period.
- Fourier Transform InfraRed (FT-IR) spectrometer is an instrument which acquires broadband near infrared spectra. FT-IR is used in various applications due to its improved sensitivity and speed. Fourier Transform InfraRed spectroscopy is used in chemistry, biology research fields, geology, and materials.
- Near infrared spectroscopy is used in medicine to provide information about oxygen saturation of hemoglobin within microcirculation. It can be used to assess microvascular and oxygenation function in brain or in peripheral tissues. Near infrared spectroscopy is also used in pediatric critical care to manage patients after cardiac surgery. The technology is more likely to be suggested for patients due to its non-invasive, painless process, and it helps critical care physicians with an estimate of cardiac output.
Major Players/Manufacturers profiled in the report are:
Agilent Technologies, PerkinElmer, Thermo Fisher Scientific Inc., Bruker Corp., Hitachi Ltd., Shimadzu Corporation, Carl Zeiss AG, JASCO International Co., Ltd., Horiba Ltd., and Lumex Instruments.
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Emergen Research has segmented the global near infrared spectroscopy market on the basis of modality, technology, application, and region:
Modality Outlook (Revenue, USD Million; 2018–2028)
- Benchtop
- Portable
Technology Outlook (Revenue, USD Million; 2018–2028)
- Dispersive Infrared Spectroscopy
- Fourier Transform Infrared (FT-IR) Spectroscopy
Application Outlook (Revenue, USD Million; 2018–2028)
- Medical uses
- Astronomical Spectroscopy
- Remote Monitoring
- Agriculture
- Particle Measurement
- Material Science
- Industrial uses
- Others
Regional Analysis:
The report sheds light on the region expected to dominate the Near Infrared Spectroscopy market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Near Infrared Spectroscopy market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Near Infrared Spectroscopy market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Near Infrared Spectroscopy market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Near Infrared Spectroscopy Market
- Critical assessment of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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