PUBLISHER: Grand View Research | PRODUCT CODE: 1301097
PUBLISHER: Grand View Research | PRODUCT CODE: 1301097
Process Spectroscopy Market Size, Share & Trends Analysis Report By Technology (Molecular, Mass, Atomic Spectroscopy), By Application, By Component (Hardware, Software), By Region, And Segment Forecasts, 2023 - 2030
Process Spectroscopy Market Growth & Trends
The global process spectroscopy market size is projected to reach USD 41.99 billion by 2030, registering a CAGR of 10.50% over the forecast period, according to a new report by Grand View Research, Inc. The increasing demand for advanced research and development has led to the adoption of various spectroscopy techniques significantly across the pharmaceutical industry during the forecast period. The growing emphasis on maintaining high-quality standards is driving technology's growth.
Additionally, there is a rising focus on reducing operational costs, expected to drive the demand for spectroscopic devices in the coming years. The market players in the pharmaceutical industry engaging in extensive research and development have yielded the discovery of numerous drugs, resulting in the development of effective medications to combat various diseases and disabilities on a global scale. The continuous adoption of spectroscopic procedures and associated equipment installations will contribute to substantial market growth throughout the forecast period. Moreover, the market is expected to experience significant expansion in the coming years due to increasing awareness of high-quality spectroscopic devices among end-use industries.
Process spectroscopy refers to applying spectroscopic techniques for real-time monitoring and analysis of chemical, physical, or biological processes. It involves the use of various spectroscopic methods such as infrared (IR) spectroscopy, Raman spectroscopy, ultraviolet-visible (UV-Vis) spectroscopy, and nuclear magnetic resonance (NMR) spectroscopy, among others. The techniques utilized in process spectroscopy rely on the interaction of electromagnetic radiation with matter. They measure the absorption, emission, or scattering of light by molecules, allowing for the identification and quantification of various compounds and their properties.
The COVID-19 pandemic caused disruptions in global supply chains, subsequently impacting the market. This led to delays in manufacturing, delivering, and installing spectroscopy equipment and components. In the wake of the pandemic, the most challenging aspects have been the lack of testing to trace and identify infections. On the other hand, the pandemic increased the demand for process spectroscopy in pharmaceutical applications. The urgent need for vaccines, treatments, and diagnostics related to COVID-19 created opportunities for the market. Spectroscopic techniques are essential in drug development, quality control, and process optimization, contributing to the market's growth in the pharmaceutical industry.
The researchers developed a novel test technology for detecting the coronavirus, utilizing physics. By leveraging principles of physics, this innovative test technology offers a promising alternative to traditional biochemical-based tests. For instance, in 2020, a research team at Northern Arizona University developed a surface-enhanced single-molecule Raman spectroscopy (SM-SERS), which would identify the S proteins of the SARs-Cov-2 virus, involved in the virus at the cellular level.
The market for process spectroscopy is highly consolidated. Some prominent players in the market include Agilent Technologies, Inc.; Bruker; Danaher Corporation; Shimadzu Corporation; and Thermo Fisher Scientific, Inc. The industry participants are adopting process spectroscopic instruments to enhance product quality and adhere to international standards such as ISO and Six Sigma. The companies operating in this market are making huge investments in research and development initiatives.
Market players are involved in several strategic initiatives to achieve a competitive advantage, such as acquisitions, mergers, partnerships, and new product launches. For instance, in August 2022, Danaher Corporation announced that the company had acquired Aldevron. Aldevron would be branded within the Life Science segment of Danaher Corporation and operate as a standalone company.
Process Spectroscopy Market Report Highlights
- The hardware segment dominated with a market share of 77.1% in 2022 and is expected to witness a CAGR of 10.34% during the forecast period
- The pharmaceutical application segment dominated in 2022, gaining a revenue share of 31.6%. It is expected to grow at a CAGR of 11.08% throughout the forecast period
- The molecular technology segment held the largest revenue share of 45.1% in 2022. It is expected to grow at a CAGR of 10.40% throughout the forecast period
- The Nuclear Magnetic Resonance (NMR) molecular technology segment dominated in 2022 with a revenue share of 31.0%. It is expected to grow at a CAGR of 10.0% throughout the forecast period
- The primary source markets are the U.S., Japan, China, India, the UK, and Canada. The U.S. is expected to be the primary source market for process spectroscopy industry players
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Research Assumptions
- 1.5. List of Data Sources
- 1.5.1. Secondary Sources
- 1.5.2. Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope Outlook
- 3.1. Market Lineage Outlook
- 3.2. Process Spectroscopy Market Value Chain Analysis
- 3.3. Process Spectroscopy Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint/Challenge Analysis
- 3.3.3. Market Opportunity Analysis
- 3.4. Industry Analysis - Porter's Five Forces Analysis
- 3.4.1. Supplier Power
- 3.4.2. Buyer Power
- 3.4.3. Substitution Threat
- 3.4.4. Threat of New Entrants
- 3.4.5. Competitive Rivalry
- 3.5. Process Spectroscopy Market PESTEL Analysis
- 3.5.1. Political Landscape
- 3.5.2. Economic Landscape
- 3.5.3. Social Landscape
- 3.5.4. Technology Landscape
- 3.5.5. Environmental Landscape
- 3.5.6. Legal Landscape
- 3.6. Impact of COVID-19 on the Process Spectroscopy Market
Chapter 4. Process Spectroscopy Market Technology Outlook
- 4.1. Process Spectroscopy Market, By Technology Analysis & Market Share, 2022 & 2030
- 4.2. Molecular
- 4.2.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD; Shipment Units; ASP USD)
- 4.2.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD; Shipment Units; ASP USD)
- 4.2.3. NIR
- 4.2.3.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD; Shipment Units; ASP USD)
- 4.2.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD; Shipment Units; ASP USD)
- 4.2.4. FT-IR
- 4.2.4.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.2.4.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.2.5. Raman
- 4.2.5.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.2.5.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.2.6. NMR
- 4.2.6.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.2.6.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.3. Mass
- 4.3.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.4. Atomic
- 4.4.1. Market estimates and forecasts, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
- 4.4.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion; Shipment Units; ASP USD)
Chapter 5. Process Spectroscopy Market Application Outlook
- 5.1. Process Spectroscopy Market, By End-user Analysis & Market Share, 2022 & 2030
- 5.2. Polymer
- 5.2.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.2.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.3. Oil & Gas
- 5.3.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.4. Pharmaceutical
- 5.4.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.4.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.5. Food & Agriculture
- 5.5.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.5.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.6. Pharmaceutical
- 5.6.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.6.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.7. Chemical
- 5.7.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.7.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.8. Water & Wastewater
- 5.8.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.8.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.9. Pulp & Paper
- 5.9.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.9.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.10. Metal & Mining
- 5.10.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.10.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 5.11. Others
- 5.11.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.11.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
Chapter 6. Process Spectroscopy Market Component Outlook
- 6.1. Process Spectroscopy Market, By Component Analysis & Market Share, 2022 & 2030
- 6.2. Hardware
- 6.2.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 6.2.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
- 6.3. Software
- 6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Billion)
- 6.3.2. Market estimates and forecasts, By Region, 2017 - 2030 (USD Billion)
Chapter 7. Process Spectroscopy Market: Regional Estimates & Trend Analysis
- 7.1. Process Spectroscopy Market Share by Region, 2022 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecasts, 2017 - 2030
- 7.2.2. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.2.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.2.4. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.2.5. U.S.
- 7.2.5.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.2.5.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.2.5.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.2.6. Canada
- 7.2.6.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.2.6.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.2.6.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.2.7. Mexico
- 7.2.7.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.2.7.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.2.7.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Market estimates and forecasts, 2017 - 2030
- 7.3.2. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.3.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.3.4. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.3.5. U.K.
- 7.3.5.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.3.5.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.3.5.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.3.6. Germany
- 7.3.6.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.3.6.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.3.6.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecasts, 2017 - 2030
- 7.4.2. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.4.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.4.4. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.4.5. India
- 7.4.5.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.4.5.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.4.5.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.4.6. China
- 7.4.6.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.4.6.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.4.6.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.4.7. Japan
- 7.4.7.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.4.7.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.4.7.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.5. South America
- 7.5.1. Market estimates and forecasts, 2017 - 2030
- 7.5.2. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.5.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.5.4. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.5.5. Brazil
- 7.5.5.1. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.5.5.2. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.5.5.3. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. Market estimates and forecasts, 2017 - 2030
- 7.6.2. Market estimates and forecasts, By Technology, 2017 - 2030 (USD Billion)
- 7.6.3. Market estimates and forecasts, By Application, 2017 - 2030 (USD Billion)
- 7.6.4. Market estimates and forecasts, By Component, 2017 - 2030 (USD Billion)
Chapter 8. Process Spectroscopy Market Competitive Landscape
- 8.1. Key Market Participants
- 8.1.1. Thermo Fisher Scientific Inc.
- 8.1.2. Bruker Corporation
- 8.1.3. Agilent Technologies, Inc.
- 8.1.4. Danaher Corporation
- 8.1.5. ABB Group
- 8.1.6. HORIBA, Ltd
- 8.1.7. Shimadzu Corporation
- 8.1.8. Sartorius AG
- 8.1.9. Yokogawa Electric Corporation
- 8.2. Key Company Market Share Analysis, 2022
- 8.3. Company Categorization/Position Analysis, 2022
- 8.4. Strategic Mapping
- 8.4.1. Expansion
- 8.4.2. Mergers & Acquisitions
- 8.4.3. Partnerships & Collaborations
- 8.4.4. Product/service launch
- 8.4.5. Investments
List of Tables
- TABLE 1 Global Process Spectroscopy Market Size Estimates and Forecasts, 2017 - 2030 (USD Billion)
- TABLE 2 Global Process Spectroscopy Market Value Estimates and Forecasts by Region, 2017 - 2030 (USD Billion)
- TABLE 3 Global Process Spectroscopy Market Value Estimates and Forecasts by Technology, 2017 - 2030 (USD Billion)
- TABLE 4 Global Process Spectroscopy Market Value Estimates and Forecasts by Molecular, 2017 - 2030 (USD Billion)
- TABLE 5 Global Process Spectroscopy Market Value Estimates and Forecasts by Application, 2017 - 2030 (USD Billion)
- TABLE 6 Global Process Spectroscopy Market Value Estimates and Forecasts by Components, 2017 - 2030 (USD Billion)
- TABLE 7 Participants Overview
- TABLE 8 Financial Overview
- TABLE 9 Product Benchmarking
- TABLE 10 Company Heat Map Analysis
- TABLE 11 Key Companies launching new products & developing the existing products
List of Figures
- Fig. 1 Process Spectroscopy Market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot (1/2)
- Fig. 8 Segment snapshot (2/2)
- Fig. 9 Competitive landscape snapshot
- Fig. 10 Process Spectroscopy Market value, 2017-2030 (USD Billion)
- Fig. 11 Process Spectroscopy Market - Industry value chain analysis
- Fig. 12 Process Spectroscopy Market - Market trends
- Fig. 13 Process Spectroscopy Market: Porter's analysis
- Fig. 14 Process Spectroscopy Market: PESTEL analysis
- Fig. 15 Process Spectroscopy Market, by technology: Key takeaways
- Fig. 16 Process Spectroscopy Market, by technology: Market share, 2022 & 2030
- Fig. 17 Molecular Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 18 Mass Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 19 Atomic Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 20 Process Spectroscopy Market, by application: Key takeaways
- Fig. 21 Process Spectroscopy Market, by application: Market share, 2022 & 2030
- Fig. 22 Polymer Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 23 Oil & Gas Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 24 Pharmaceutical Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 25 Food & Agriculture Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 26 Chemical Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 27 Water & Wastewater Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 28 Pulp & Paper Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 29 Metal & Mining Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 30 Others Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 31 Process Spectroscopy Market, by component: Key takeaways
- Fig. 32 Process Spectroscopy Market, by component: Market share, 2022 & 2030
- Fig. 33 Hardware Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 34 Software Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 35 Global Process Spectroscopy Market revenue, by region, 2022 & 2030 (USD Billion)
- Fig. 36 North America Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 37 U.S. Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 38 Canada Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 39 Mexico Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 40 Europe Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 41 U.K. Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 42 Germany Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 43 Asia Pacific Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 44 India Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 45 China Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 46 Japan Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 47 South America Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 48 Brazil Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 49 Middle East & Africa Process Spectroscopy Market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 50 Key company categorization
- Fig. 51 Process Spectroscopy Market - Key company market share analysis, 2022.
- Fig. 52 Strategic framework
