IR Spectroscopy Market worth $1.3 billion in 2025 - Exclusive Report by MarketsandMarkets™

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Dec 04, 2020, 08:30 ET

CHICAGO, Dec. 4, 2020 /PRNewswire/ -- According to new market research report "IR Spectroscopy Market by Technology (Near-Infrared, Mid-Infrared, Far-Infrared), Product Type (Benchtop Spectroscope, Micro Spectroscope, Portable Spectroscope, Hyphenated Spectroscope), End-User Industry & Geography - Global Forecast to 2025", published by MarketsandMarkets™, the IR Spectroscopy Market is expected to grow at a CAGR% of 4.1% from USD 1.0 billion in 2020 to USD 1.3 billion in 2025. The primary reason for this rise in demand is the increasing need for spectroscopy products in the healthcare & pharmaceutical industry.

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Far-infrared technology to grow at the highest CAGR of IR spectroscopy market, by technology, in 2020

FIR radiation (ë = 3–100 ìm) is a part of the electromagnetic spectrum used for different healthcare applications. Technological inventions have provided new methods for delivering FIR energy to the human body. Specialty saunas and lamps, delivering pure FIR radiation, have become safe, effective, and widely used sources to produce healing effects. Fibers saturated with FIR can be woven and are being used as garments.

The molecules that make up a substance are all exposed to complex molecular motion. When that motion increases, the matter heats up if electromagnetic waves that link to the frequency of molecular sensations are irradiated onto the resonance absorption of those electromagnetic waves, temperature and vibration increase.

FIR technology improves clinical cardiac function and symptoms and decreases cardiac size in heart failure patients. The technology is capable of new inventive treatments for heart failure. FIR is invisible and is present in sunrays. Recent research show that light can arouse the body's metabolism rate. This technology can also be used for detoxification, reducing pain, boosting immunity, and healing wounds. Such applications in the healthcare & pharmaceuticals industry are driving the market for FIR technology.

Portable spectroscopes to grow at highest CAGR during the forecast period

Portable spectroscopes were an integral part of key security and analytical instrument companies for several years. With the advent of handheld laser-induced breakdown spectroscopy, as well as the introduction of smartphone spectroscopy focusing on diagnostics, low-cost visible-shortwave IR spectroscopy instruments sold directly to the public, and portable hyperspectral imaging instruments, the demand for these spectroscopes has increased. Portable spectroscopes allow investigators to examine the samples in transit. They are perfect for field analysis applications for identifying raw materials and samples and carrying out forensic analysis. Portable spectroscopes are multipurpose apparatuses that have analysis competencies equivalent to benchtop spectroscopes. Factors to be considered while purchasing portable spectroscopes are their low costs, small size, analysis simplicity, robustness, user-friendly sample interfaces, movability, and ergonomic designs. Portable spectroscopes are used for characterizing external parameters of vegetables and fruits; identifying fat content in fish and meat; carrying out the quality evaluation of dairy products and beverages; analyzing protein content of cereals; and conducting soil analysis. As portable spectroscopes can be easily used by non-technical operators, their developers incorporate widespread resources into reliable documentation algorithms, spectroscopic libraries or databases, and qualitative and quantitative standardization. With reducing sizes and costs of portable spectroscopic apparatuses, there is a possibility of them being incorporated in smart appliances and consumer devices. These spectroscopes are extensively used in food and agriculture industries to determine the quality of food items and beverages.

Browse in-depth TOC on "IR Spectroscopy Market"

130 – Tables
49 – Figures
174 – Pages

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Healthcare & Pharmaceuticals to hold the largest market share during the forecast period

IR spectroscopy is used in the healthcare & pharmaceuticals industry to improve the lighting efficiency of endoscopic instruments, which are used for the removal of artery plaque, kidney stones, etc. The most significant and prevalent applications of IR spectroscopy in the healthcare & pharmaceuticals industry are imaging and illumination components of endoscopes. Flexible and rigid multifiber cables, composed of step-index fibers and graded-index imaging rods, are extensively used to visualize internal organs and tissues, which are accessible through natural openings. It is also used for remote spectrophotometry, pressure and position sensing, or scintillation counting applications.

IR spectroscopy is also used in a number of diagnostic and therapeutic applications. It may contribute to certain therapeutic methods such as photodynamic therapy by providing them with the optical data related to the tissue response. Reliable IR spectroscopy is significant in diagnostics applications. It is an important tool in pharmaceutical analysis. IR spectroscopy is a non-destructive method that requires little or no sample groundwork. In addition, the formation of chemometrics, which retrieves information through data-driven methods, has amplified the tendency of IR spectroscopy to detect slight variation in intricate datasets. Recent breakthroughs in IR spectroscopy hold potential for label-free, non-invasive optical detection and evaluation of certain molecules in human tissues and cells, including hemoglobin protein.

North America to hold the largest share of IR spectroscopy market in 2020

North America held a share of 34% of the overall IR spectroscopy market in 2019. The growth of the market in this region can be attributed to the increased investments in research and development activities being carried out in the healthcare & pharmaceuticals industry. IR spectroscopy products and solutions are used in these research and development activities. The food & beverages industry also uses IR spectroscopy products and solutions for detecting the presence of foreign particles in food items and beverages. The people in North America are highly concerned about the quality of food items and beverages. This is the prime reason contributing to the growth of the IR spectroscopy market in North America for food & beverages.

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