Near-infrared (NIR) Spectroscopy Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, UK, Germany, China, Japan - Size and Forecast 2023-2027

Near-Infrared (NIR) Spectroscopy Market Forecast 2023-2027

The near-infrared (NIR) spectroscopy market size is estimated to increase by USD 387.67 million and decline at a CAGR of 9.14% between 2022 and 2027. Market expansion relies on various factors, such as escalating concerns regarding food safety, broader utilization of non-invasive methodologies across end-user sectors, and the expanding application of NIRS in medical diagnosis. However, challenges persist, including the elevated expenses associated with NIRS devices, the heightened risk of calibration inaccuracies, and the growing stringency of regulatory requirements for NIRS implementation.

What will be the size of the Near Infrared Spectroscopy Market During the Forecast Period?

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Market Segmentation

This market research report extensively covers market segmentation by product (benchtop and portable), end-user (pharmaceutical and biomedical industry, food and beverage industry, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Product

The market share growth of the benchtop segment will be significant during the forecast period. Benchtop devices are used for fast and accurate measurements of different properties of samples. They also provide a safe lab environment and eliminate errors commonly associated with manual methodologies due to factors such as high repeatability and accuracy of measurements. These factors will facilitate segment growth during the forecast period.

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The benchtop segment was valued at USD 214.01 million in 2017 and continued to grow until 2021. End-user industries such as pharmaceutical and biomedical, food and beverage, chemical, and agriculture will demand benchtop devices due to features such as multiple determination of sample compositions and rapid separation probes for optimized measurement of solids and liquids. The features will benefit end-user industries by minimizing laboratory analysis time and replacing routine tests, as the devices can analyze multiple samples simultaneously. Such benefits of the benchtop model will directly contribute to the growth of the market during the forecast period.

By Region

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The increasing need for NIRS devices for various end-users, such as the agriculture, food and beverage, and pharmaceutical and biomedical industries, is contributing to the growth of the market in this region. Consolidation in the food processing industry, coupled with increasing plant sizes, is benefitting large food and beverage companies. Such companies are increasingly using NIRS devices for quality control, wherein researchers use NIRS to determine the molecular components of different samples for use in practical applications. Researchers will further test the use of NIRS devices for newer applications previously unexplored, thereby significantly contributing to the growth of the market during the forecast period.

Market Dynamics and Customer Landscape

The market is witnessing substantial growth driven by its diverse applications across various industries, particularly in biotechnology, crime detection, cosmetics, pharmaceuticals, and petrochemicals. NIRS technology, a non-destructive analytical technique operating in the near-infrared region of the electromagnetic spectrum, enables rapid and accurate analysis of chemical composition, structure, and properties of substances. In the pharmaceutical industry, NIRS is increasingly utilized by pharmaceutical and nutraceutical manufacturers for quality control, particularly in detecting counterfeit pharmaceuticals. Additionally, regulatory bodies are increasingly endorsing the use of NIRS technology for authentication purposes. Moreover, the versatility of NIRS, offered in both benchtop and portable types, further enhances its applicability across different sectors, driving market growth. As the demand for efficient and reliable analytical techniques continues to rise, the Near Infrared Spectroscopy market is poised for further expansion in the coming years. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The surge in food safety concerns is a key driver propelling the growth of the market. With stringent regulations in the food and beverage industry, there's a constant need to ensure food quality and safety. NIRS technology is extensively utilized for assessing various properties of fruits and vegetables, including fiber, protein, and fat content, without the need for sample preparation. Its benefits, such as rapid measurement, minimal alteration of food properties, and cost-effectiveness, make it a preferred choice. Additionally, NIRS is employed for detecting adulteration in food products, aiding in food safety surveillance efforts. This escalating focus on food safety evaluation and control is anticipated to drive the global NIRS market's growth throughout the forecast period.

Significant Market Trends

The evolution of miniature NIR spectrometers is the primary trend in the market. The progress in miniaturization techniques is increasing the use of miniature NIR spectrometers. Such instruments are increasingly used for rapid and non-destructive testing of raw materials in warehouses. They reduce the time and cost needed for taking samples to laboratories and quarantining incoming raw materials until the completion of lab testing. The absence of moving parts in such devices also leads to longer life and higher durability.

Viavi Solutions Inc. MicroNIR spectrometer provides flexibility in the installation and scalability of NIRS solutions due to its small form. The MicroNIR OnSite and MicroNIR PAT are increasingly used in the chemical, food manufacturing, and pharmaceutical and biomedical industries for online and at-line process monitoring and control. Therefore, such instruments are growing rapidly due to newer applications and implementations in the NIRS market during the forecast period.

Major Market Challenge

The high cost of NIRS devices is the major challenge in the market. Technological advances are increasing the cost of NIRS devices. These devices have advanced embedded components such as polarization interferometers and gray filters for optimum resolution and wavelength accuracy. They have the ability to penetrate the surface and physical structure of the object and retrieve information about the inner composition in the form of a spectrum. This facilitates accurate and detailed object identification. 

The optic accessories and sampling tools for NIR devices help streamline processes by testing and controlling the quality of liquid, solid, and powder materials. Therefore, technological advances in NIRS hardware, integrated with electronic devices such as tablets and smartphones, are increasing the cost of the product.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Near Infrared Spectroscopy Market Customer Landscape

Who are the Major Near Infrared Spectroscopy Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd. - The company offers infrared spectroscopy such as FT-IR and FT-NIR. The process automation segment focuses on manufacturing and selling drives, motors, generators, traction converters, and mechanical power transmission products.

The NIR spectroscopy market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• BUCHI Labortechnik AG
• FOSS AS
• Hamamatsu Photonics KK
• Lumex Instruments
• Metrohm AG
• Ocean Insight
• PerkinElmer Inc.
• Polytec GmbH
• Sartorius AG
• Shimadzu Corp.
• Thermo Fisher Scientific Inc.
• Viavi Solutions Inc.
• Zeltex LLC
• ZEUTEC
• Avantes BV

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook
  • Benchtop
  • Portable

• End-user Outlook
  • Pharmaceutical and biomedical industry
  • Food and beverage industry
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina

Market Analyst Overview

The market is experiencing significant growth driven by diverse applications across various industries. From insect detection in agriculture to proteomic research in healthcare and forensic lab applications, NIRS is proving its versatility. Industries like pulp and paper, polymer manufacture, and the food and beverage sector benefit from its non-destructive analysis capabilities and compliance with Good Manufacturing Practices (GMP). With advancements in user-friendly instruments, data processing capabilities, and integration with other technologies like artificial intelligence and machine learning, NIRS enables speedy analysis and process optimization. Moreover, its role in healthcare, environmental analysis, and precision agriculture underscores its importance in modern industries, promising personalized medicine, quality control, and environmental monitoring solutions.

Furthermore, the market is revolutionizing various industries, including food and beverage, healthcare, and agriculture. With its non-invasive techniques and rapid analysis speed, NIRS finds applications in product safety assessment, quality control in manufacturing, and personalized nutrition. In the healthcare sector, NIRS facilitates the monitoring of diseases, assessment of brain function, and tissue oxygenation measurement. Moreover, it plays a crucial role in smart farming by enabling real-time monitoring and ensuring product authentication in the food industry. As demand grows, particularly in emerging nations and low- to middle-income countries, the near-infrared spectroscopy market continues to expand, driven by advancements in machine learning techniques and the adoption of benchtop instruments for particle measurement and quality control.

The global near-infrared spectroscopy (NIRS) market is witnessing substantial growth, driven by its diverse applications across various industries. From agriculture to healthcare, NIRS technology has become indispensable, offering valuable insights and non-invasive analytical capabilities. In the food and beverage business, NIRS plays a crucial role in quality control and food authentication. By analyzing the composition of substances like palm oil, NIRS helps ensure product integrity and safety, meeting stringent industry standards and consumer expectations. Additionally, in the agriculture industry, NIRS facilitates rapid analysis of soil and crop samples, optimizing agricultural practices and enhancing productivity.

Pharmaceutical producers leverage NIRS for efficient drug development and manufacturing processes. By monitoring chemical compositions and identifying molecular structures, NIRS accelerates drug formulation and quality assessment, contributing to the production of safe and effective medications. In modern healthcare facilities, non-invasive NIRS techniques are revolutionizing patient care. By measuring brain activity and metabolic processes, NIRS enables early detection and monitoring of chronic diseases, empowering healthcare professionals to intervene proactively and improve patient outcomes.

Government entities such as the Ministry of Health and National Medical Stores collaborate with international organizations to deploy NIRS technology in low- and middle-income nations. By providing access to NIRS equipment and training, these initiatives aim to strengthen healthcare systems and address pressing public health challenges. Dispersive near-infrared spectroscopy and chemometrics are advancing NIRS capabilities, enabling precise analysis and interpretation of spectral data. From imaging applications to biomedical research, NIRS continues to expand its footprint, driving innovation and discovery in various fields. In conclusion, near-infrared spectroscopy represents a versatile and invaluable tool with far-reaching implications for global industries and public health. As technology continues to evolve, the integration of NIRS into diverse applications promises to unlock new opportunities and address complex challenges, ushering in a future defined by innovation and progress.

Near Infrared Spectroscopy Market Scope
Report Coverage	Details
Page number	162
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Decelerate at a CAGR of 9.14%
Market growth 2023-2027	USD 387.67 million
Market structure	Fragmented
YoY growth 2022-2023(%)	10.97
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 42%
Key countries	US, UK, Germany, China, and Japan
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., Agilent Technologies Inc., B and W Tek, Brimrose Corp. of America, Bruker Corp., BUCHI Labortechnik AG, FOSS AS, Hamamatsu Photonics KK, Lumex Instruments, Metrohm AG, Ocean Insight, PerkinElmer Inc., Polytec GmbH, Sartorius AG, Shimadzu Corp., Thermo Fisher Scientific Inc., Viavi Solutions Inc., Zeltex LLC, ZEUTEC, and Avantes BV
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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