Process Spectroscopy Market Size Revenue & Regional Analysis |2024
Category: #tech  By Ashwin Naphade  Date: 2019-09-10
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Process Spectroscopy Market Size Revenue & Regional Analysis |2024

Process Spectroscopy Market is expected to grow at a CAGR of over 5% to exceed USD 1 billion by 2024. The market growth can be credited to the growing adoption of spectroscopic techniques in the food, agriculture and pharmaceutical sectors. Rising awareness of quality drugs & food coupled with several regulations imposed by the government & administrative authorities are the key factors which are projected to drive the process spectroscopy market.

Near infrared spectroscopy technology segment contributed more than 60.1% to total process spectroscopy market share for 2015 and is projected to register CAGR of more than 6.1% during forecast timeline. Growth of the segment can be credited to its increasing use in many sectors likebiogas plants, quality monitoring, plastics identification in chemical sector, food industry and paper production control.

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The NIR technology based process spectroscopy market accounted more than 60% of the overall industry share in 2015. Rising application of this technology in food industry, polymer, oil & gas, and pharmaceuticals industries is likely to produce high avenues for process spectroscopy industry. This technology is also used in chemical industry for plastic identification. Over the time span of coming seven years, the NIR technology is expected to be the largest technology segment.

Process analytical technology is a technique that plans, examines and controls production by determining parameters which affect critical value attributes. Food and Drug Administration framed process analytical technology framework to assure outstanding performance. All this has resulted in growing acceptance of the framework by many pharmaceutical firms in U.S. Due to this, U.S. process spectroscopy market is predicted to experience great impact of the framework in future.

Asia Pacific process spectroscopy Market is expected to witness a significant growth over the forecast timeline. Various industry participants are progressively relocating manufacturing facilities and R&D owing to the presence of cheap labor and low resource cost which will catapult the regional growth.

The implementation of PAT framework by Food and Drug Administration (FDA) which aims at ensuring high quality product performance is anticipated to boost the process spectroscopy market growth. This has increased the adoption of process spectroscopy in pharmaceutical companies across the U.S. The equipment is enabling efficient process monitoring and also performs quality check, which thereby, aids in minimizing the variable expenditure involved by reducing errors as well as re-work.

Some Point from Table of Contents:

Chapter 4    Process Spectroscopy Technology Insights

4.1    Process Spectroscopy market share by technology, 2015 & 2024

4.2    NIR

4.2.1    Market estimates and forecasts by region, 2013 - 2024

4.3    FT-IR

4.3.1    Market estimates and forecasts by region, 2013 - 2024

4.4    Raman

4.4.1    Market estimates and forecasts by region, 2013 - 2024

Chapter 5    Process Spectroscopy Application Insights

5.1    Process Spectroscopy market share by application, 2015 & 2024

5.2    Polymer

5.2.1    Market estimates and forecasts by region, 2013 - 2024

5.3    Oil & gas

5.3.1    Market estimates and forecasts by region, 2013 – 2024

5.4    Pharmaceutical

5.4.1    Market estimates and forecasts by region, 2013 - 2024

5.5    Food & agriculture

5.5.1    Market estimates and forecasts by region, 2013 - 2024

5.6    Chemical

5.6.1    Market estimates and forecasts by region, 2013 – 2024

5.7    Others

5.7.1    Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/process-spectroscopy-market

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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