IR Spectroscopy Market Size, Share & Growth Report

Updated on : October 23, 2024

The IR spectroscopy market size is experiencing significant growth, driven by increasing demand across various industries such as pharmaceuticals, chemicals, and environmental monitoring. This analytical technique, renowned for its ability to identify molecular structures and functional groups, is gaining traction due to advancements in technology and the need for high-precision analysis. Key trends shaping the market include the integration of IR spectroscopy with emerging technologies like artificial intelligence and automation, enhancing data analysis and interpretation. Additionally, the rise in research and development activities, coupled with a growing focus on quality control in manufacturing processes, is expected to further boost market demand. As industries increasingly adopt IR spectroscopy for its efficiency and accuracy, the market is poised for substantial expansion in the coming years.

Global IR Spectroscopy Market Size

Global IR spectroscopy market size was valued at USD 1.2 billion in 2024 and is projected to reach USD 1.6 billion by 2029;  growing at a CAGR of 6.5% during the forecast period from 2024 To 2029 Growth in the number of healthcare institutions and clinical research centers, continuous technological advancements in IR spectroscopy are among the factors driving the growth of the IR spectroscopy market.

IR Spectroscopy Market Forecast to 2029

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IR spectroscopy Market Key Trends & Dynamics:

Driver: Growth in the number of healthcare institutions and clinical research centers

The growing number of healthcare institutions and clinical research centers is driving the growth of IR spectroscopy due to the increasing demand for advanced analytical techniques in the field of medicine and biomedical research. IR spectroscopy is a powerful tool for understanding the molecular landscape and chemical pathologies of various biological systems, making it a valuable asset in the diagnosis, treatment, and prevention of diseases.

As healthcare institutions and clinical research centers continue to expand, there is an increasing need for accurate and reliable analytical methods to study the complex molecular interactions that occur in biological systems. IR spectroscopy provides a non-destructive, non-invasive, and fast method for analyzing the vibrational modes of molecules, which can reveal valuable information about their structure, function, and interactions with other molecules.

Moreover, healthcare facilities translate to a larger patient pool, leading to a higher demand for efficient and accurate diagnostic tools. IR spectroscopy offers a fast, non-invasive, and reliable approach for analyzing various samples, including tissues, blood, and breath. Clinical research centers constantly seek innovative techniques to improve disease detection and monitoring. IR spectroscopy's ability to identify unique molecular fingerprints of different diseases makes it a valuable tool in their arsenal. Also, Advancements in portable and miniaturized IR spectrometers further contribute to the technology's adoption in point-of-care settings within healthcare institutions, enabling faster and more efficient analysis.

Restraint: Technical limitations of IR spectroscopy

IR spectroscopy has some technical limitations, forcing end users to shift to competitive products such as Raman or fluorescence spectroscopy. While IR spectroscopy has various applications and advantages, it also faces certain technical limitations that can act as restraints in certain situations. Here are some of the technical limitations of IR spectroscopy:

• Limited Sensitivity for Dilute Samples: IR spectroscopy may lack sensitivity, especially when dealing with dilute samples. This can be a limitation when analyzing trace amounts of a substance in a complex matrix.
• Water Absorption: Water molecules strongly absorb in the infrared region, particularly in the range of 1600-1800 cm^-1. This can be a challenge when analyzing samples containing water or in humid environments, as the water bands may overlap with the analyte's signals.
• Sample State and Preparation: The state of the sample (solid, liquid, or gas) can affect the quality of the IR spectrum. Solid samples may require grinding with a suitable matrix, and liquids may need proper handling to obtain reliable results.
• Instrumentation Constraints: The resolution and accuracy of IR instruments can impact the ability to resolve closely spaced peaks and accurately identify functional groups. Higher resolution instruments are typically more expensive and may require specialized expertise for operation.
• Furthermore, the identification of molecular structure in an aqueous and complex solution can be difficult with IR spectroscopy, due to which end users may opt for other competitive products for analysis. Sometimes, wavelengths of certain bandwidths are not detectable in IR spectrographic products, primarily due to specification adjustment. Such technical limitations hamper spectrographic products. Product testing using IR spectroscopy is time-consuming; hence, it becomes difficult to implement the latest technological trends in the products. The shift toward competitive products is expected to affect the IR spectroscopy market growth.

Opportunity: Rising use of NIR spectroscopy in seed quality detection

Seeds are the most basic and vital agricultural capital goods, and the quality of seeds is essential for agricultural production. Traditional nucleic acid-based and immunodiagnostic methods used for detecting seed quality are destructive, slow, and need pre-treatment. Near-Infrared (NIR) spectroscopy is known for its ability to analyze multiple components of seeds simultaneously quickly and non-destructively, such as moisture content, oil content, protein content, and more. The increased demand for seed quality assessment using spectroscopic techniques stimulates research and development in the field. Innovations and technological advancements driven by the adoption of NIR spectroscopy can lead to the development of more advanced IR spectroscopy methods, sensors, and devices, creating a positive feedback loop of improvement.

This technology allows for the selection and classification of seeds based on specific traits without altering them, opening up new avenues for quality evaluation. Additionally, NIR spectroscopy technology has been applied in testing seed constituents, vigor, disease, insect pests, moisture, starch, and more, showcasing its versatility and importance in seed quality analysis.

Challenge: High Cost of IR spectroscopy products

The high cost of infrared (IR) spectroscopy devices presents a significant challenge for the IR spectroscopy Industry. These sophisticated instruments are essential for various applications, including chemical analysis, environmental monitoring, and material characterization. However, the prohibitive expense associated with acquiring and maintaining high-quality IR spectroscopy equipment creates several obstacles for both researchers and industries.

Firstly, the substantial initial investment required to purchase advanced IR spectroscopy devices poses a financial barrier, especially for smaller research institutions, laboratories, and emerging businesses. This limits access to cutting-edge technology, hindering scientific advancements and innovation in fields that heavily rely on spectroscopic analysis.

The high cost of IR spectroscopy devices also affects market competitiveness. Industries seeking to adopt these technologies for quality control, process monitoring, or product development may face challenges in justifying the return on investment, particularly when cost-effective alternatives or competing technologies are available. This can slow down the adoption rate of IR spectroscopy in various sectors, limiting its market expansion and potential for widespread application.

IR Spectroscopy Market Ecosystem

Prominent companies in this market include well-established, financially stable providers of IR spectroscopy systems. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Shimadzu Corporation (Japan); ZEISS (Germany); PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); ABB (Switzerland); Thermo Fisher Scientific Inc. (US); Horiba, Ltd. (Japan); Sartorius AG (Germany); Hitachi High-Tech Corporation (Japan).

IR Spectroscopy Market Share Analysis :

The IR spectroscopy market share is analyzed to be expanding steadily, driven by its broad application spectrum and the continuous need for precise analytical methods. This growth is primarily fueled by the pharmaceutical and biotechnology industries, where IR spectroscopy is crucial for drug development and quality control. The environmental sector also significantly contributes to market growth, utilizing IR spectroscopy for monitoring air and water quality. Additionally, advancements in spectroscopy technologies, such as Fourier-transform infrared (FTIR) spectroscopy, are enhancing the accuracy and efficiency of analyses, further driving market adoption. However, the market faces challenges such as high equipment costs and the need for skilled personnel to operate sophisticated instruments.

IR Spectroscopy Market Technology :

The IR spectroscopy market size is witnessing several key trends driven by advancements in technology and the increasing demand for analytical techniques across various industries. One significant trend is the growing adoption of portable and handheld IR spectroscopy devices. These compact and easy-to-use instruments are becoming essential for on-site analysis, particularly in industries such as pharmaceuticals, environmental monitoring, and food safety. Additionally, the integration of IR spectroscopy with artificial intelligence (AI) and machine learning (ML) is enhancing data analysis capabilities, enabling more accurate and faster results. This trend is particularly beneficial in research and quality control, where precise and timely data is critical. Furthermore, there is a rising interest in near-infrared (NIR) spectroscopy due to its non-destructive nature and ability to analyze complex samples with minimal preparation.

IR Spectroscopy Market Growth:

The IR spectroscopy market size is poised for robust growth, supported by the increasing demand for analytical techniques across diverse industries and ongoing technological advancements. The pharmaceutical industry remains a major driver, leveraging IR spectroscopy for drug formulation, identification, and quality assurance processes. The food and beverage industry is also a significant contributor, utilizing IR spectroscopy for authenticity testing, quality control, and contamination detection. Furthermore, the environmental monitoring sector's growth, driven by stringent regulations and the need for real-time analysis of pollutants, is boosting the market. To sustain this growth, manufacturers are focusing on developing user-friendly and cost-effective IR spectroscopy devices that cater to a wider range of applications. Strategic collaborations, product innovations, and expanding applications in emerging markets are expected to further accelerate market expansion.

IR Spectroscopy Segmentation :

By product type, portable spectroscopes is expected to grow with the highest CAGR from 2024 to 2029.

The IR spectroscopy market size for portable spectroscopes is expected to grow at a CAGR of 8.9% during the forecast period. Portable spectrometers are designed to be lightweight and compact. This makes them ideal for field work, allowing researchers and professionals to take the analytical power of IR spectroscopy directly to where the samples are located. This is useful in applications like environmental monitoring, on-site material identification, or even medical analysis in remote locations. Portable spectrometers offer the advantage of mobility, allowing analysis to be performed in situ, in the field, or at point-of-care locations. This accessibility reduces the need for sample transportation and enables real-time or on-site analysis, which is particularly advantageous in applications such as environmental monitoring, food safety, pharmaceuticals, and forensic analysis

By end-user industry, biomedical research and biomaterials segment is expected to grow with the highest CAGR in 2029.

The biomedical research and biomaterials segment is expected to grow at a CAGR of 8.5% during the forecast period. IR light interacts with specific bonds within molecules, causing vibrations. These vibrations produce a unique spectrum, like a fingerprint, that identifies the functional groups present in a sample. This allows researchers to identify and characterize biological molecules, tissues, and biomaterials. In biomaterials research, IR spectroscopy can be used to assess the biocompatibility of a material, study its interaction with cells and tissues, and monitor its degradation over time.

By type, the Far-infrared Spectroscopy segment is expected to grow with the highest CAGR from 2024 to 2029.

The Far-infrared Spectroscopy segment is expected to witness the highest CAGR of 9.5% during the forecast period. Far infrared spectroscopy enables non-destructive and non-invasive analysis of samples. This is especially valuable in fields such as pharmaceuticals, where it is essential to analyze materials without altering their properties. It allows researchers to study samples in their native state without the need for extensive sample preparation. Far infrared spectroscopy is finding new and emerging applications in areas such as biomedical imaging, security screening, environmental monitoring, and telecommunications. These expanding application areas contribute to the growing demand for far infrared spectroscopy techniques and drive further research and development in the field.

IR Spectroscopy Market Regional Analysis:

In 2029, North America is projected to hold the highest CAGR of the overall IR spectroscopy market.

IR Spectroscopy Market and Statistics by Region

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In 2029, The IR spectroscopy market share in North America is expected to grow at the highest CAGR. The North American IR spectroscopy market size is experiencing significant growth due to strong demand for infrared spectroscopy products for healthcare & pharmaceuticals, chemicals, and Food & Beverages. Several companies offering infrared spectroscopy products, including PerkinElmer Inc. (US); Agilent Technologies, Inc. (US); Bruker Corporation (US); Thermo Fisher Scientific Inc. (US); have a presence in this region, which further adds to the growth of the infrared spectroscopy market in North America.

Top IR Spectroscopy Companies - Key Market Players:

• Shimadzu Corporation (Japan);
• ZEISS (Germany);
• PerkinElmer Inc. (US);
• Agilent Technologies, Inc. (US);
• Bruker Corporation (US);
• ABB (Switzerland);
• Thermo Fisher Scientific Inc. (US);
• Horiba, Ltd. (Japan);
• Sartorius AG (Germany);
• Hitachi High-Tech Corporation (Japan) are some of the key players in the IR spectroscopy companies.

IR Spectroscopy Report Scope : 

IR Spectroscopy Market Highlights

This research report categorizes the IR spectroscopy market based technology, type, product type, end-user industry, and region.

Recent Developments in IR Spectroscopy Industry : 

• In December 2023, Shimadzu Corporation launched IRseries products. They are equipped with an analysis navigation program enabling novice FTIR users to obtain data easily, and a function that judges the quality of the measurement results and proposes how to obtain favorable data.
• In September 2023, Sartorius AG and Repligen Corporation jointly launched an integrated bioreactor system. The Biostat STR now contains a fully compatible embedded XCell ATF hardware and software module offering predefined advanced control recipes with integrated Process Analytical Technology (PAT).
• In March 2023, Rapid Screening Research Center for Toxicology and Biomedicine (RSRCTB) at National Sun Yat-sen University (NSYSU) established the first Satellite Laboratory in Taiwan, utilizing various kinds of chemical analytical instruments manufactured by Shimadzu Corporation. The laboratory will expand the application of mass spectroscopy and Fourier transform infrared spectroscopy (FTIR).
• In January 2023, launched AIMsight. It enhances defect analysis efficiency through automation. This innovation includes features such as faster search for measurement sites, contributing to addressing societal challenges like microplastics through contaminant analysis.
• In October 2022, Agilent Technologies, Inc. launched Agilent 8700 LDIR (laser direct infrared), rapid analysis and user-friendly features to infrared spectroscopy, establishing itself as a leading method for microplastic particle analysis. The introduction of on-filter analysis represents a notable advancement in speed and throughput. Enhancing testing volumes will contribute to a better comprehension of microplastics contamination in the environment, supporting the formulation of relevant standards and regulations.

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