Product Code: 978-1-68038-561-8
Process Spectroscopy Market Growth & Trends:
The global process spectroscopy market size is anticipated to reach USD 42.66 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 11.5% from 2025 to 2030. The increasing demand for advanced research and development has led to the adoption of various spectroscopy techniques significantly across the pharmaceutical industry during the forecast period. The growing emphasis on maintaining high-quality standards is driving technology's growth.
Additionally, there is a rising focus on reducing operational costs, expected to drive the demand for spectroscopic devices in the coming years. The market players in the pharmaceutical industry engaging in extensive research and development have yielded the discovery of numerous drugs, resulting in the development of effective medications to combat various diseases and disabilities on a global scale. The continuous adoption of spectroscopic procedures and associated equipment installations will contribute to substantial market growth throughout the forecast period. Moreover, the market is expected to experience significant expansion in the coming years due to increasing awareness of high-quality spectroscopic devices among end-use industries.
Process spectroscopy refers to applying spectroscopic techniques for real-time monitoring and analysis of chemical, physical, or biological processes. It involves the use of various spectroscopic methods such as infrared (IR) spectroscopy, Raman spectroscopy, ultraviolet-visible (UV-Vis) spectroscopy, and nuclear magnetic resonance (NMR) spectroscopy, among others. The techniques utilized in process spectroscopy rely on the interaction of electromagnetic radiation with matter. They measure the absorption, emission, or scattering of light by molecules, allowing for the identification and quantification of various compounds and their properties.
The COVID-19 pandemic caused disruptions in global supply chains, subsequently impacting the market. This led to delays in manufacturing, delivering, and installing spectroscopy equipment and components. In the wake of the pandemic, the most challenging aspects have been the lack of testing to trace and identify infections. On the other hand, the pandemic increased the demand for process spectroscopy in pharmaceutical applications. The urgent need for vaccines, treatments, and diagnostics related to COVID-19 created opportunities for the market. Spectroscopic techniques are essential in drug development, quality control, and process optimization, contributing to the market's growth in the pharmaceutical industry.
The researchers developed a novel test technology for detecting the coronavirus, utilizing physics. By leveraging principles of physics, this innovative test technology offers a promising alternative to traditional biochemical-based tests. For instance, in 2020, a research team at Northern Arizona University developed a surface-enhanced single-molecule Raman spectroscopy (SM-SERS), which would identify the S proteins of the SARs-Cov-2 virus, involved in the virus at the cellular level.
The market for process spectroscopy is highly consolidated. Some prominent players in the market include Agilent Technologies, Inc.; Bruker; Danaher Corporation; Shimadzu Corporation; and Thermo Fisher Scientific, Inc. The industry participants are adopting process spectroscopic instruments to enhance product quality and adhere to international standards such as ISO and Six Sigma. The companies operating in this market are making huge investments in research and development initiatives.
Market players are involved in several strategic initiatives to achieve a competitive advantage, such as acquisitions, mergers, partnerships, and new product launches. For instance, in August 2022, Danaher Corporation announced that the company had acquired Aldevron. Aldevron would be branded within the Life Science segment of Danaher Corporation and operate as a standalone company.
Process Spectroscopy Market Report Highlights:
- The hardware segment dominated with a market share of 76% in 2024 and is expected to witness a CAGR of 10.34% during the forecast period.
- The pharmaceutical application segment dominated in 2024, gaining a revenue share of 31.8%. It is expected to grow at a CAGR of 11.08% throughout the forecast period.
- The molecular technology segment held the largest revenue share of 45.1% in 2024. It is expected to grow at a CAGR of 10.40% throughout the forecast period.
- Molecular spectroscopy led the market and accounted for a 45.1% share of the global revenue in 2023.
- The primary source markets are the U.S., Japan, China, India, the UK, and Canada. The U.S. is expected to be the primary source market for process spectroscopy industry players.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
- 1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Process Spectroscopy Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Technology Challenge
- 3.3. Process Spectroscopy Market Analysis Tools
- 3.3.1. Technology Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and social landscape
- 3.3.2.3. Technological landscape
Chapter 4. Process Spectroscopy Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Process Spectroscopy Market: Component Movement Analysis, USD Million, 2024 & 2030
- 4.3. Hardware
- 4.3.1. Hardware Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Software
- 4.4.1. Software Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Process Spectroscopy Market: Technology Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Process Spectroscopy Market: Technology Movement Analysis, USD Million, 2024 & 2030
- 5.3. Molecular Spectroscopy
- 5.3.1. Molecular Spectroscopy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.2. NIR
- 5.3.2.1. NIR Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.3. FT-IR
- 5.3.3.1. FT-IR Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.4. Raman
- 5.3.4.1. Raman Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.5. NMR
- 5.3.5.1. NMR Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.3.6. Others
- 5.3.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Mass Spectroscopy
- 5.4.1. Mass Spectroscopy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Atomic Spectroscopy
- 5.5.1. Atomic Spectroscopy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Process Spectroscopy Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Process Spectroscopy Market: Application Movement Analysis, USD Million, 2024 & 2030
- 6.3. Polymer
- 6.3.1. Polymer Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Oil & Gas
- 6.4.1. Oil & Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Pharmaceutical
- 6.5.1. Pharmaceutical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Food & Agriculture
- 6.6.1. Food & Agriculture Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Chemical
- 6.7.1. Chemical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. Water & Wastewater
- 6.8.1. Water & Wastewater Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.9. Pulp & Paper
- 6.9.1. Pulp & Paper Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.10. Metal & Mining
- 6.10.1. Metal & Mining Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.11. Others
- 6.11.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Regional Estimates & Trend Analysis
- 7.1. Process Spectroscopy Market by Region, 2024 & 2030
- 7.2. North America
- 7.2.1. North America Process Spectroscopy Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Canada Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. UK
- 7.3.2.1. UK Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Germany Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. France Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. China Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Japan
- 7.4.3.1. Japan Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
- 7.4.4.1. India Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. South Korea
- 7.4.5.1. South Korea Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. Australia
- 7.4.6.1. Australia Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Saudi Arabia
- 7.6.2.1. Saudi Arabia Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. South Africa
- 7.6.3.1. South Africa Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. UAE
- 7.6.4.1. UAE Process Spectroscopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Company Market Positioning
- 8.3. Company Heat Map Analysis
- 8.4. Company Profiles/Listing
- 8.4.1. ABB Ltd.
- 8.4.1.1. Participant's Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Strategic Initiatives
- 8.4.2. Agilent Technologies, Inc.
- 8.4.2.1. Participant's Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Strategic Initiatives
- 8.4.3. Bruker Corporation
- 8.4.3.1. Participant's Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Strategic Initiatives
- 8.4.4. BUCHI Labortechnik AG
- 8.4.4.1. Participant's Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Strategic Initiatives
- 8.4.5. Danaher Corporation
- 8.4.5.1. Participant's Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Strategic Initiatives
- 8.4.6. Endress+Hauser Group Services AG
- 8.4.6.1. Participant's Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.6.4. Strategic Initiatives
- 8.4.7. FOSS
- 8.4.7.1. Participant's Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Strategic Initiatives
- 8.4.8. HORIBA Group
- 8.4.8.1. Participant's Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Strategic Initiatives
- 8.4.9. Sartorius AG
- 8.4.9.1. Participant's Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Strategic Initiatives
- 8.4.10. Shimadzu Corporation
- 8.4.10.1. Participant's Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Strategic Initiatives
- 8.4.11. Thermo Fisher Scientific Inc.
- 8.4.11.1. Participant's Overview
- 8.4.11.2. Financial Performance
- 8.4.11.3. Product Benchmarking
- 8.4.11.4. Strategic Initiatives
- 8.4.12. Yokogawa Electric Corporation
- 8.4.12.1. Participant's Overview
- 8.4.12.2. Financial Performance
- 8.4.12.3. Product Benchmarking
- 8.4.12.4. Strategic Initiatives