Pharmaceutical Application Is Fastest Growing Segment Fueling The Growth Of Global Raman Spectroscopy Market

Raman Spectroscopy Market


The global Raman Spectroscopy Market is estimated to be valued at US$ 1.18 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Raman spectroscopy is a chemical analysis technique that measures the vibrational energy of chemical bonds in a molecule. It provides "fingerprint" information about the molecular structure, phase, polymorphism and crystalline form. Raman spectroscopy is used extensively across industries like pharmaceuticals, chemicals, materials science etc. due to its advantages like non-destructive, non-contact nature and ability for in situ measurements without any complex sample preparation.

Market key trends:
Miniaturization is a key trend fuelling the growth of Raman spectroscopy market. The demand is growing among industries for smaller, compact and portable Raman spectroscopy systems with field deployment capabilities. Leading manufacturers are focused on developing miniature benchtop and handheld Raman spectrometers with enhanced analytical capabilities. Reduced device size allows for easy integration and in situ analysis in industrial processes and analytical labs. These new generations of miniature Raman spectrometers are fuelling the adoption especially in applications like pharmaceutical analysis, counterfeit detection, hazardous material identification etc.

Segment Analysis
The global Raman spectroscopy market is segmented into product, application, and end-user. Based on product, instruments segment dominates the market and accounts for the largest revenue share. High capital investments and robust capabilities of instruments to gather molecular fingerprint make instruments segment dominant in the market.

Key Takeaways
Global Raman Spectroscopy Market Demand is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing investment in life sciences research.

Regional analysis
North America dominates the global Raman spectroscopy market and is expected to continue its dominance over the forecast period. High adoption of advanced analytical techniques in pharmaceutical and biotechnology industries drives the growth of the market in the region. Asia Pacific exhibits the fastest growth in the market owing to increasing R&D spending in pharmaceutical and semiconductor industries in emerging countries like China and India.

Key players
Key players operating in the global Raman spectroscopy market are Thermo Fisher Scientific, Bruker Corp, Renishaw plc, Horiba Ltd, JASCO Corp, Shimadzu Corp, Kaiser Optical Systems, Inc, PerkinElmer Inc, JEOL Ltd, Agilent Technologies. Thermo Fisher Scientific dominates the market owing to its wide product portfolio in the spectroscopy market. 

Comments

Post a Comment

Popular posts from this blog

Ginseng Market Outlook, Analysis and forecast up to 2028

Image
  Ginseng Market Ginseng is a slow-growing perennial plant with green oval-shaped leaves and meaty roots that can persist for more than a century. Ginseng is classified into two types: American ginseng and Asian ginseng. Panax quinquefolius is the scientific name for American ginseng, whereas Panax ginseng is the scientific name for Asian ginseng. Ginseng is widely used as a herb to increase the body's energy levels. Ginseng's antioxidant and anti-inflammatory qualities serve to enhance the immune system, lowering the risk of viral and microbial infections. Ginseng also helps to lower the risk of diseases such as lung cancer, skin cancer, and liver cancer. Other health advantages of ginseng include lower blood sugar levels and improved cognitive functions such as memory and conduct. Ginseng is mostly grown in the United States, Canada, and South Korea. Ginseng has been used as a herbal medicine in China for generations, and the country is one of its largest users. Asia Pacifi...
Read more

Forging has significant application in creation of various metal for wide range of applications

Image
Forging refers to any process that produces metal from scratch by subjecting it to an external force. Metal forgers can be persons or machines. This techniques may involve grinding (for example, to produce alloyed steel) or may involve the application of pressure to apply heat to the metal piece until it is malleable. The actual process depends on various factors, including the material being forged, its shape, and the degree of stress that is placed on it. Forged grain is the product of Forging with grains of metals pushed against each other through a forge-like tool and into the cladding that forms the final shape of the metal after it has been done. It is the principal production process in most metals. It uses local or repetitive thrusts delivered by a hammer or die to apply mechanical blows to the metal piece until it becomes malleable. It is frequently classified according to the speed at which it's done: fast, cold, or hot. There are many types of forgers available today...
Read more

The Vaccine Contract Manufacturing Industry to Flourish Due to Urgent Need to Develop Reliable and Cost-Effective Vaccines against Covid-19

Image
Germany Vaccine Contract Manufacturing industry is expected to witness significant growth in the near future, due to emergence of Covid-19. In Germany, from 3 January 2020 to 4:06pm CEST, 18 August 2021, there have been 3,835,375 confirmed cases of COVID-19 with 91,921 deaths, reported to WHO. As of 15 August 2021, a total of 97,884,043 vaccine doses have been administered. The increasing demand for safe and cost-effective vaccines due to unmatchable quality, consistent delivery, and unparalleled security, have contributed to the increasing growth and scope of this industry. The increasing demand for vaccines and resulting profit potential have led to significant growth in the number of contract manufacturing plants located across the world. A major focus of such plants is developing cost effective, high quality vaccines that could be made available to public health organizations and other medical organizations. Several new and innovative technologies are also being developed to man...
Read more