Knowledge Sourcing Intelligence launches the publication of a new report on “Global Spectroscopy Market - Forecasts from 2019 to 2026” to their giving.
The prime factors driving the growth of the spectroscopy market are the rising geriatric population and an increase in chronic disorders
As per the report, the Global Spectroscopy Market is expected to grow at a CAGR of 3.87% to reach US$25.470 billion by 2026, from US$19.526 billion in 2019.
The study of the interaction between matter and electromagnetic radiation as a function of the wavelength or frequency of the radiation is known as spectroscopy. The expanding pharmaceutical sector on a global scale, owing to a rise in the geriatric population and a growth in chronic disorders, along with increased awareness regarding health and concern among people, is projected to drive the global spectroscopy market. Furthermore, the growth of environmental and life science applications substantially adds to the worldwide spectroscopy industry. However, a shortage of qualified personnel and the high cost of spectroscopic devices may limit market expansion. Continuous technological progress and rapid innovation will provide several opportunities for market expansion. The advent of COVID-19 had a favourable effect on the spectroscopic market. spectroscopy became a significant element of the treatment strategies that were used to cure the patients. During the pandemic, pharmaceutical firms are expanding their need for research and development operations, which has encouraged the demand for drug discovery and development.
Based on technology, the spectroscopy market is fragmented as atomic, mass and molecular. Atomic spectroscopy has broader applicability and is primarily utilised in pharmaceutical sectors for quality control, resulting in global demand. Food safety concerns and the use of molecular spectroscopy in environmental screening are driving the growth of the molecular spectroscopy segment.
By application, the spectroscopy market is segmented into pharmaceutical, environmental, life sciences, industrial and others. Spectroscopy technology is being utilised in the pharmaceutical industry for drug development.
Based on geography, the spectroscopy market is segmented into the North American region, the South American region, the Middle East and African region, the European region, and the Asia Pacific region.
As a part of the report, the major players operating in the spectroscopy market, that have been covered are Thermo Fischer Scientific Inc., Merck KGaA, PerkinElmer Inc., VIAVI Solutions Inc., Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Jeol Ltd, Horiba Ltd, Shimadzu Corporation
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-spectroscopy-market
This analytics report segments the spectroscopy market on the following basis: