PUBLISHER: The Business Research Company | PRODUCT CODE: 1662001
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662001
Process spectroscopy encompasses a spectroscopic method involving the measurement of spectra generated when matter interacts with or produces electromagnetic radiation, resulting in absorption or emission. This technique facilitates the analysis of electromagnetic radiation, light, and matter interactions, employing a range of devices for examination.
The key components of process spectroscopy include hardware and software. Spectroscopy hardware involves equipment utilized in absorption, transmission, and laser measurements. Different technologies, such as molecular spectroscopy, mass spectroscopy, and atomic spectroscopy, find application across various industries including polymers, oil and gas, pharmaceuticals, food and agriculture, chemicals, and other sectors.
The process spectroscopy market research report is one of a series of new reports from The Business Research Company that provides process spectroscopy market statistics, including process spectroscopy industry global market size, regional shares, competitors with a process spectroscopy market share, detailed process spectroscopy market segments, market trends and opportunities, and any further data you may need to thrive in the process spectroscopy industry. This process spectroscopy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The process spectroscopy market size has grown strongly in recent years. It will grow from $21.75 billion in 2024 to $23.4 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to quality control demands, cost efficiency, rapid analysis, market competition, healthcare innovations.
The process spectroscopy market size is expected to see strong growth in the next few years. It will grow to $31.77 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to industry 4.0 integration, miniaturization and portability, sustainability focus, pharmaceutical advancements, biotech and life sciences. Major trends in the forecast period include cross-industry collaboration, customization & software solutions, emerging markets expansion, precision agriculture, remote monitoring solutions.
The rising demand from pharmaceutical industries is anticipated to drive the growth of the process spectroscopy market in the future. Spectroscopic methods involve the study of materials at the molecular scale, with nuclear magnetic resonance (NMR) being one such technology. Process spectroscopy is vital for identifying and inspecting raw materials, as well as for the development and formulation of pharmaceutical products. Consequently, the growth of pharmaceutical industries leads to an increased demand for process spectroscopy. For example, in August 2024, the Government of Canada, a federal administration in Canada, reported that domestic exports in the pharmaceutical trade rose to 12.79 in 2022, up from 10.71 in 2021. Thus, the increasing demand from pharmaceutical industries is fueling the growth of the process spectroscopy market.
The expanding agriculture sector is projected to enhance the growth of the process spectroscopy market in the coming years. This sector encompasses a wide range of activities related to land cultivation, crop raising and harvesting, as well as livestock rearing. As the agriculture industry increasingly adopts technological advancements to improve efficiency and sustainability, the demand for process spectroscopy solutions is anticipated to rise, positively influencing the overall market. For example, in May 2024, the United States Department of Agriculture, a federal agency in the U.S., reported that in 2023, the nation's utilized production of the 21 estimated non-citrus fruit crops reached 16.2 million tons, marking a 5 percent increase from 2022. Therefore, the growth of the agriculture sector is propelling the growth of the process spectroscopy market.
Technological advancement is a significant trend gaining traction in the process spectroscopy market. Key players in the market are focusing on developing advanced technologies to maintain their competitive edge, such as the Ramina Process Analyzer. For example, in April 2022, Thermo Fisher Scientific, a U.S.-based scientific instrument company, introduced the Ramina Process Analyzer, a user-friendly Raman spectroscopic analyzer designed for continuous and non-destructive analysis in biopharmaceutical manufacturing. This compact system enables quick setup and automated measurements without requiring sample preparation, making it accessible for users of all experience levels. Featuring patented probes, it enhances speed and sensitivity, allowing for real-time data generation and streamlining processes as a more efficient alternative to traditional methods.
Major companies in the process spectroscopy market are innovating products, such as safety boots, to cater to a larger customer base, drive sales, and boost revenue. Infrared spectrometers are analytical instruments that measure and analyze the interaction between matter and infrared radiation. For example, in July 2024, Agilent Technologies Inc., a U.S.-based analytical instruments firm, introduced two new mass spectrometry products at the 72nd ASMS Conference, aimed at enhancing precision and sensitivity in scientific measurements. The Agilent 7010D Triple Quadrupole GC/MS System is specifically designed for the food and environmental sectors and is certified with the My Green Lab ACT Label, reflecting its eco-friendly manufacturing. Additionally, the Agilent ExD Cell enhances peptide and protein characterization for biopharma and life science research, demonstrating Agilent's dedication to advancing analytical capabilities across various scientific fields.
In October 2023, HORIBA Group, a Japan-based provider of analytical and measurement systems, acquired Process Instruments Inc. for an undisclosed sum. This acquisition by HORIBA Process & Environmental represents an expansion of its Raman analyzer offerings within the petrochemical and renewable energy sectors. Process Instruments Inc. brings expertise in laboratory QC/QA and process Raman technology, which will enhance HORIBA's existing Raman portfolio and solidify its global leadership in Raman technology. This strategic move positions HORIBA as a comprehensive provider, with its subsidiary HORIBA Scientific already catering to the research and development markets with advanced Raman technology. Process Instruments Inc. is a U.S.-based developer and manufacturer of Raman process spectroscopy.
Major companies operating in the process spectroscopy market are ABB Group, Agilent Technologies Inc., Bruker Corporation, Buchi Labortechnik AG, Danaher Corporation, Foss A/S, HORIBA Ltd., Kaiser Optical Systems Inc., Kett Electric Laboratory, Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., Yokogawa Electric Corporation, SCIEX, tec5USA Inc., PerkinElmer Inc., Jasco Inc., Metrohm AG, Anton Paar GmbH, Malvern Panalytical Ltd., Oxford Instruments PLC, Spectris PLC, Teledyne Technologies Inc., MKS Instruments Inc., Emerson Electric Co., Endress+Hauser AG, Analytik Jena AG, Hitachi High-Technologies Corporation, JEOL Ltd., Rigaku Corporation, WITec GmbH, Ocean Optics Inc., Avantes BV, StellarNet Inc., Wasatch Photonics Inc., B&W Tek Inc., LightMachinery Inc.
North America was the largest region in the process spectroscopy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the process spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the process spectroscopy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The process spectroscopy market includes revenues earned by entities by providing spectroscopy technologies such as NIR, Raman, FT-IR, and NMR. The market value includes the value of related goods sold by the service provider or included within the service offering. The process spectroscopy market also includes sales of hardware such as spectrometers, light sources, systems, analyzers, and accessories. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Process Spectroscopy Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on process spectroscopy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for process spectroscopy ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The process spectroscopy market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.