Global Laboratory and Handheld Raman Instruments Market: Overview
The global laboratory and handheld Raman instruments is driven by the ability of the product to provide a nondestructive, simple, and rapid technique for the identification of fake medicines. The benefits of handheld Raman spectroscopy are that it is very easy to use even by people who are not skilled enough to use it. Raman instruments are capable of identifying a test pharmaceutical product on the spot, irrespective of the state of the product. However, these instruments are capable of operating in reflection mode and Raman activity of a sample is camoflaouged by fluorescent species present in the sample, particularly when the analysis is done in reflection mode.
The report on the global laboratory and handheld Raman instruments market takes a closer look at the major changes that have taken place in the chemical analysis techniques and how those changes are shaping the contours of the market. The insights are likely to help the industry players and investors to assess the completive ecosystem and formulate strategies accordingly.
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Global Laboratory and Handheld Raman Instruments Market: Trends and Opportunities
Manufacturers Pin Hopes on Various Applications across Multiple Industries
The global laboratory and handheld Raman instruments market is mainly driven by its rising demand from several sectors like industrial, pharmaceutical, and educational are increasingly depending on the use of laboratory and handheld Raman instruments as it provides improved regulation of process of control, especially pertaining to incoming raw materials. Raman instruments are also becoming more popular as compared to other methods of testing like mid-infrared spectroscopy, near-infrared and this is likely to drive the global laboratory and handheld Raman instruments market in the forthcoming years. The samples do not need to be treated before, which is what drives its popularity.
In addition, the rapidly increasing popularity of hyphenated Raman systems is recognized as one of the important trends that is likely to trigger growth of the global laboratory and handheld Raman instruments market over the tenure of projection, from 2013 to 2019. Hyphenated Raman systems are also called combined or hybrid Raman system that enables an absolute analysis of the sample on one single benchtop and it reduces the ownership cost as well. These ease of use and reduced cost factors are estimated to trigger growth of the global laboratory and handheld Raman instruments market in the years to come.
Raman instruments have become a more affordable and accessible with the availability of portable lasers and power supplies, plus high-sensitivity, and emergence of low-cost CCD array-based spectrometers for detection. Several industries such as materials, pharmaceuticals, agriculture, and food sectors come with the need for reliable and rapid trace analysis of ingredients and chemicals for authentication, safety, and control. All these factors are likely to drive the growth of the global laboratory and handheld Raman instruments market over the tenure of assessment.
One of the prominent factors influencing the growth of the global laboratory and handheld Raman instruments market is the increased utilization of Raman instruments on the back of stringent regulations as formulated by various domestic governments. These regulations are meant to offer better safety and quality of cosmetics, drugs, and food.
On the other hand, increased availability of alternative devices is likely to hold back the development and expansion of the global laboratory and handheld Raman instruments market.
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Global Laboratory and Handheld Raman Instruments Market: Regional Outlook
Key regions in the global Laboratory and Handheld Raman Instruments market are North America, Europe, the Middle East and Africa (MEA), and Asia Pacific. Of these, Asia Pacific is estimated to account for a sizeable share of the market and is expected to rise rapidly in the years to come. In terms of the market share, the global Raman instruments market is likely to be dominated by North America. Regional domination of North America is mainly due to growing popularity of the instrument in the applications of pharmaceutical and security sector. Europe is likely to follow North America closely.
Global Laboratory and Handheld Raman Instruments Market: Companies Mentioned in Report
Key players that have been mentioned in the report are Thermo Fisher Scientific, Inc., B&W Tek, Inc., JASCO Analytical Instruments, Northern ANI Solutions, Agilent Technologies, Inc., and Snowy Range Instruments.
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.