Description
NIR and Raman Spectroscopy Market – Global Forecast to 2030
Market Overview
By 2030, the NIR and Raman spectroscopy market is anticipated to reach USD 3,152.22 million, growing at a CAGR of 11.72% from 2022 to 2030. A chronic disease is one that lasts over an extended period. The prevalence of chronic diseases among adults worldwide in 2019 was over 60%, according to the Centers for Disease Control and Prevention, and it is apparently much greater among the elderly. A quick, easy, portable, noninvasive, and affordable technique for functional diagnosis and treatment monitoring of cancer and other chronic diseases is near-infrared (NIR) spectroscopy. Using either oxy-hemoglobin or deoxyhemoglobin, lipid or water bands, or both, it is based on variations in endogenous chromophores between cancer and normal tissues.
The market is expanding because of the rise in chronic disease prevalence, the rise in demand for Process Analytical Technology (PAT) instruments, and improvements in NIR and Raman spectroscopy technology. The market will also have room to grow in the future because of the rise in interest in cloud-based spectroscopy. The absence of skilled and experienced professionals could, however, limit the market’s growth over the entire predicted duration.
Market Segmentation
Global NIR and Raman Spectroscopy Market are classified based on Product, application, and region.
In terms of product, the market is divided into Near-infrared Spectroscopy and Raman spectroscopy. Near-infrared Spectroscopy is further classified into Scanning, Fourier-transform, and Filter or AOTF whereas Raman Spectroscopy is subdivided into Micro-Raman Spectroscopy, Probe-based Raman Spectroscopy, and FT-Raman Spectroscopy. The Application, segment includes Pharmaceutical Applications, Biotechnology & Biopharmaceutical Applications, Food & Beverage Testing, Environment Testing, Academic Research, and Others.
Regional Analysis
Geographically, the worldwide NIR and Raman spectroscopy market has been portioned, into North America, Europe, Asia Pacific, and the Rest of the World.
The NIR and Raman spectroscopy market development in North America is credited to the high pervasiveness of different ongoing sicknesses, including disease, diabetes, and cardiovascular problems, and rising medical services consumption. The American Malignant Growth Society assessed that 1.9 million new disease cases would be analyzed and 609,360 disease-related passings in 2022 in the US. Essentially, as per the information distributed by World Wellbeing Association (WHO), in 2020, 2,281,685 new disease cases were enrolled in the US 2020. Then again, Canada represented 274,364 new malignant growth cases in 2020. Raman and NIR spectroscopy is generally utilized in Cycle Logical Innovation (PAT) applications as these methods are non-horrendous scientific strategies that can break down materials in their present status without test planning (without dissolving the materials).
The rising pervasiveness of ongoing sicknesses, the rising geriatric populace, and NIR and Raman spectroscopy mechanical progressions drive NIR and Raman spectroscopy market development. An article distributed by Populace Reference Agency (PRB) in 2019 expressed that Asia and Europe are the home to the world’s most established populaces, matured 65 and above. Japan (28%) enlisted the most elevated geriatric populace, trailed by Italy (23%), Finland, Portugal, Greece (22%), and China (12%).
Major Players
The prominent players in the global NIR and Raman spectroscopy market are Bruker (US), Agilent Technologies, Inc. (US), JASCO (Spain), Thermo Fisher Scientific Inc. (US), Shimadzu Corporation (Japan), Danaher (US), Merck KGaA (Germany), PerkinElmer Inc. (US), ABB (Sweden), and Horiba, ltd (Japan).
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