FT-IR Spectroscopy Market: Overview
- Fourier-transform infrared spectroscopy, or FT-IR spectroscopy, is part of molecular spectroscopy and is a popular tool used to determine the functional groups present in samples via infrared absorbance spectra
- FT-IR spectrometers provide a rapid, accurate, and cost-effective capability to identify pharmaceutical compounds and specific molecules
- The technique has a range of applications including gas analysis, food & packaging, environmental analysis, pharmaceutical, life science, research, oil & gas analysis, and forensics
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Key Drivers of Global FT-IR Spectroscopy Market
- Rapid technological advancements in infrared (IR) spectroscopy, increase in investment in research & development activities by pharmaceutical & biotech companies, and wide applications of FT-IR spectroscopy techniques in various industries are the key factors projected to boost the growth of the global FT-IR spectroscopy market in the next few years
- Stringent regulatory guidelines for food labeling and packaging has fueled the adoption of FT-IR spectrometers. For instance, food manufacturers use the infrared attenuated total reflectance (ATR) technique for rapid determination of trans fat content in food products. Moreover, it is used for wine sample analysis and to identify unknown components or adulterants in food samples.
- Increase in applications of FT-IR spectroscopy in the pharmaceutical and life science industries is anticipated to fuel the growth of the global FT-IR spectroscopy market during the forecast period. FT-IR spectroscopy technique is widely adopted in the drug development process for rapid screening of raw materials and intermediates, to analyze product formulations and validation, quality control processes, and packaging to ensure regulatory compliance. All these factors are expected to accelerate the growth of the global FT-IR spectroscopy market in the next few years.
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North America to Dominate Global FT-IR Spectroscopy Market
- Increase in adoption of technologically advanced systems and rise in focus of pharmaceutical & biotech companies on drug discovery and development in the U.S. are likely to propel demand for FT-IR spectrometers in North America
- Rise in popularity of the FT-IR technique owing to its ability to analyze product formulations, evaluate drugs, and biological samples in research laboratories is a major factor projected to boost the growth of the FT-IR spectroscopy market in North America
Key Players Operating in Global FT-IR Spectroscopy Market
Major players operating in the global FT-IR spectroscopy market are:
- Thermo Scientific Corporation
- Bruker Corporation
- Agilent Technologies
- Torontech Group International
Global FT-IR Spectroscopy Market: Research Scope
Global FT-IR Spectroscopy Market, by Product
- Benchtop FT-IR Spectrometers
- Portable FT-IR Spectrometers
Global FT-IR Spectroscopy Market, by Application
- Food & Packaging
Global FT-IR Spectroscopy Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.