Global Raman Spectroscopy Market Overview:
The growing concentration in the development of medicines in the health sector will be one of the main factors that will have a positive impact on the growth of the Raman Spectroscopy market. The pharmaceutical industry relies heavily on Raman spectroscopy to conduct research and development activities to test and discover new medicines. In addition, the demand for this spectroscopy is high in the life sciences sector because it is widely used for the analysis of biomolecules. Proteomics and human genome analysis are part of the wide range of Raman spectroscopy applications. The global market for Raman spectroscopy is expected to reach USD 1.6 billion by 2023, at an annual compound growth rate (CAGR) of around 9%.
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Global Raman Spectroscopy Market Drivers and restraints:
One of the main trends that will gain popularity in the global Raman spectroscopy market is the growing demand for state-of-the-art spectroscopy called cloud spectroscopy. This technique uses scanners, smartphones and data in the cloud. For example, one of the leading providers of cloud spectroscopy, Tellspec, has developed a portable food scanner that tells the user the levels of chemicals, allergens, calories, nutrients and ingredients found in any food. In addition, the increasing adoption of Raman spectroscopy in the areas of diagnostics, life sciences, materials science and mining are also supporting the market. Two other drivers of growth are the increasing demand for R&D and the growing applications in national security, medical diagnostics, food processing, carbon materials and semiconductors. The analysis of geological samples, such as the determination of the composition and the nature of the minerals of commercial interest by Raman spectroscopy, is also an engine of market growth. The main market limitations identified in the analysis include the lack of skilled labor and the high installation costs.
Global Raman Spectroscopy Market Geographical segmentation:
At the regional level, the Raman Spectroscopy Market can be segmented into North America (Mexica, USA, and Canada), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (India, China, Korea, Japan, and Southeast Asia), South America (Brazil, Argentina, Columbia etc.), and the Middle East and Africa (UAE, Saudi Arabia, Egypt, South Africa and Nigeria).
Key vendors in this Global Raman Spectroscopy Market are:
Agilent Technologies, Bruker, Hitachi High-Technologies, JEOL, PerkinElmer, Shimadzu Corporation, and Thermo Fisher Scientific. Other prominent vendors in the market include FOSS, GBC Scientific Equipment, JASCO, Metal Power, Rigaku Corporation, and WATERS.
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