SEATTLE, May 25, 2021 (GLOBE NEWSWIRE) -- Spectroscopy is a scientific process used to determine properties of atoms, molecules, or inorganic compounds. It is also used to define many physical processes. The science behind spectroscopy is complicated, involving many interacting forces that have a measurable effect on the outcomes of scientific measurements.
Process spectroscopy is a technique involving the application of spectroscopy, which includes studying the interaction between matter and electromagnetic radiation. Process spectroscopy can be used as a tool for detection and monitoring of Coronavirus (COVID-19). Some of the other types of spectroscopy include X-ray spectroscopy, flame spectroscopy, atomic emission spectroscopy, and atomic absorption spectroscopy, spark emission spectroscopy, visible and ultraviolet spectroscopy, and infared and near infared spectroscopy.
The global process spectroscopy market is estimated to account for 27,186.9 Mn in terms of value by the end of 2027
Market Drivers:
Integration of Raman spectroscopy and functionalized nanoparticles is expected to propel growth of the global process spectroscopy market over the forecast period. For instance, in August 2020, Advanced Nano Technologies, a provider of materials and surface applications based on nanotechnology, in collaboration with Starna Scientific and Trinity College Schools of Chemistry and Engineering, announced to provide an update on progress toward developing a Point of Interaction Indicative Test (POIN2T) for Covid-19. The test is the application of Raman spectroscopy and functionalized nanoparticles for early detection of Covid-19.
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Moreover, launch of near-infrared spectroscopy catheter is also expected to aid in growth of the market. For instance, in 2018, Infraredx, Inc., a Nipro Company, launched Makoto Intravascular Imaging System and accompanying Dualpro intravascular ultrasound and near-infrared spectroscopy catheter in Japan.
Increasing investment in wastewater treatment is expected to aid in growth of the market. For instance, in April 2021, The City of Binghamton Council, NY, US, approved a contract with Veolia to perform a maintenance assessment of the Binghamton-Johnson City Joint Wastewater Treatment Plant.
Market Opportunities:
Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the global process spectroscopy market. For instance, globally, as of 3:02 pm CEST, 16 May 2021, there have been 162,177,376 confirmed cases of COVID-19, including 3,364,178 deaths, as reported to the World Health Organization.
High prevalence of chronic diseases is also expected to aid in growth of the market. For instance, according to the study, ‘Prevalence of Parkinson’s disease (PD) across North America”, published in July 2018 in the journal Nature, the number of people suffering from PD is expected to reach 930,000 in 2020 and 1,238,000 in 2030.
Significant growth in the pharmaceutical sector is expected to aid in growth of the market. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe was valued at US$ 139, 287 million in 2000, which increased to US$ 284, 028 million (est.) in 2018.
Market Trends:
Technological developments in the Raman Spectroscopy field have prompted the revision of the current chapter. For instance, in May 2021, The European Pharmacopoeia Commission announced that it adopted the revised chapter 2.2.48 on Raman Spectroscopy at its 169th session in March 2021.
The global process spectrometry market is witnessing several R&D activities. For instance, in April 2021, a research team at the Hong Kong University of Science and Technology, developed optical tweezers-coupled Raman spectroscopy that can directly probe the structural features of alpha-synuclein, an intrinsically disordered protein (IDP) closely linked to Parkinson’s disease, at the physiological concentration by focusing on individual protein molecules.
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Competitive Landscape:
Key players operating in the global process spectrometry market are ABB Ltd., Shimadzu Corporation, Agilent Technologies, Inc., Sartorius AG, Bruker Corporation, Kett Electric Laboratory, Buchi Labortechnik AG, Horiba Limited, Danaher Corporation, and Foss A/S.
Market Segmentation:
On the basis of technology, the global process spectroscopy market is segmented into:
- NIR
- FT-IR
- Raman
On the basis of end-user:
- Polymer
- Oil and Gas
- Pharmaceutical
- Food and Agriculture
- Chemical
- Others
On the basis of region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Related Market Intelligence Reports:
Spectrometry Market, by Product Type ( Atomic Spectroscopy (Atomic Absorption Spectroscopy, X- Ray Diffraction, Implantable, X-Ray Fluorescence, Inductively Coupled Plasma, Ark Spark, Elemental Analyzers, and ICP-MS), Mass Spectroscopy (TANDEM LC/MS, Liquid Chromatography, Gas Chromatography, MALDI – TOF, Fourier Transform, and Single Quadrupole), and Molecular Spectroscopy (NMR, UV Visualization, Infrared, Color Measurement, Near Infrared, and Raman), by End User (Biopharmaceutical Industries , Research & Academic Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
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