Global Near Infrared Spectroscopy Market 2017-2021
About Near Infrared Spectroscopy
Near infrared spectroscopy is an optical technology that measures the wavelength and absorption of near infrared (NIR) light by the sample based on which it is analyzed. Spectroscopy is a technique that is used to determine the mass, structure, and composition of a substance. It is the study of the interaction between electromagnetic radiation and matter. The matter can include atoms, molecules, atomic or molecular ions, and solids. The nature of the interaction between the radiation and the matter may include absorption, emission, or scattering. The study of the wavelength absorbed or emitted by an atom or molecule will provide information about its identity.
Technavio’s analysts forecast the global near infrared spectroscopy market to grow at a CAGR of 9.29% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global near infrared spectroscopy market for 2017-2021. To calculate the market size, the report considers the shipments, sales, volume, value, and services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Near Infrared Spectroscopy Market 2017-2021
Technavio recognizes the following companies as the key players in the global near infrared spectroscopy market: Agilent Technologies, Bruker, PerkinElmer, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: ABB, Brimrose, BÜCHI Labortechnik, Foss,Lumex Instruments, Metrohm, Ocean Optics, Sartorius, Shimadzu, and Zeltex.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is transition toward cloud-based technologies. Compact and high-performance NIRS devices enhance applications where in-situ measurements provide value for individual users and companies. The linking of NIRS to cloud databases over wi-fi or Bluetooth through a mobile device give full predictive capabilities of the laboratory.”
According to the report, one of the major drivers for this market is increase in use of nirs during process monitoring. Process monitoring involves the evaluation of each step of the manufacturing process in industries. For instance, in chemical and pharmaceutical industries, good knowledge about the manufacturing process results in adherence to safety, provides better yields, and reduces the quantity of waste generated. Process monitoring controls the different phases of processes, resulting in improved quality of drug production, reduces the number of rejected batches and the time to market.
Further, the report states that one of the major factors hindering the growth of this market is high cost of device. NIRS devices are advances in terms of the technology they use. Hence, they are expensive to main, which hampers their adoption. End-users' requirement for customization also increases the cost of these devices. For instance, a basic NIRS device costs approximately between $5,400-$15,100. Further, the total cost of ownership includes the device's lifecycle costs such as maintenance, service, and repair.
Agilent Technologies, Bruker, PerkinElmer, Thermo Fisher Scientific, ABB, Brimrose, BÜCHI Labortechnik, Foss,Lumex Instruments, Metrohm, Ocean Optics, Sartorius, Shimadzu, and Zeltex.