PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543649
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543649
The global UV/Visible spectroscopy market is estimated to reach USD 1.7 billion by 2029 from USD 1.3 billion in 2024, at a CAGR of 4.9% during the forecast period of 2024 to 2029. The growth of the UV/visible spectroscopy market is anticipated to show growth due to the rising adoption of UV/visible spectrophotometers in quality control for pharmaceutical production processes. Due to climate change, more strict environmental regulation has led to the use spectrophotometers in water treatment and monitoring by government agencies and industries.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | Offering, Application, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
"The dual-beam system (by type) for UV/Visible spectrophotometers accounted for the largest share in the UV/Visible spectroscopy market in 2023"
Dual-beam UV/visible spectrophotometer finds its way in applications that not only stand in industries like food and beverage, pharmaceuticals, and cosmetics but also in academic institutes and research, especially in biosciences. Dual-beam UV/Visible spectrophotometers are amongst the first choices for routine spectroscopy operations in academics and research institutes due to their cost-effective price point along with lower level error rates when compared to single-beam UV/Visible spectrophotometers. These systems do get demands from the industrial segment too due to the lower probability of stray light interference over a longer period.
The wide addressable end users lead to more sales demand for dual beam systems, which helps to acquire the largest share in the market.
"In terms of applications, industrial applications account for the largest in the UV/Visible spectroscopy market for the year 2023"
UV/visible spectroscopy as an analytical technique is comparatively more cost-effective than other analytical techniques. Industries are more biased towards cost-effective yet efficient quality control and production monitoring solutions and related investments. UV/visible spectrophotometer provides acceptable results for process parameters in industries that operate for a variety of businesses. Such factors help UV/visible spectroscopy techniques to be the preferred choice for industrial applications.
"In the context of end-users, industries acquired the largest share in the UV/Visible spectroscopy market in 2023"
The UV/Visible spectroscopy market is experiencing an ongoing rise in demand from end users. UV/Visible spectroscopy demand is primarily driven by the industrial segment. Pharmaceutical companies have a high demand for instruments that give quantitative measurements that ensure adequate quality control for the finished product. These companies use UV/Visible spectroscopy as a technique in drug profiling and quality control procedures. Quantitative measurement for required drug molecules are essential in drug manufacturing.
Such requirements can be addressed by analytical instruments such as UV/Visible spectroscopy.
Key players for UV/Visible spectroscopy market are Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), PerkinElmer (US), Thermo Fisher Scientific (US), Veralto Corporation (US), Jasco (Japan), Mettler Toledo (US), Horiba Ltd (Japan), Hitachi High-Tech Corporation (Japan), Oxford Instruments plc (UK), Bruker Corporation (US), Hamamatsu Photonics K.K. (Japan), Harvard Bioscience, Inc. (US) and Xylem, Inc (US)
Research Coverage
The research report examines the UV/Visible spectrophotometer market by product type, application, end-users and geography. This research covers factors that are driving market expansion, analysis for prospects and parameters faced by industries in present time and provide specifics on competitive landscape considering market leaders and small and medium enterprises. This research also estimates revenue of different market segments with considering five regions along with micro market analysis.
Rationale to Buy the Report
The research report will help smaller and newer businesses as well as established ones understand the state of the market, which will help them increase their market share. Businesses that purchase the study may choose to employ one or more of the tactics listed below to increase their market presence.