Global Raman Spectroscopy Market By Product Type (Handheld/ Portable, Bench-top); By Application (Plastics and Polymer, Healthcare and Pharmaceuticals, Academic Research, Semiconductor and Electronics, Petroleum and Petrochemicals, Security and Forensics, Gems and Jewelry, Others (Food and Feed, Batteries/Energy Storage, Etc.)); By Sales Channel (Direct, Indirect); By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2019 - 2027
Industry Trends
Spectroscopy is a field of study related to investigation and measurement of absorption and emission of light and other radiations by matter. It involves study of interactions between electrons, protons and ions and their interactions with other particles. Measurement devices used in spectroscopy are referred to as spectrometers, spectrophotometers, spectral analysers or spectrographs. Spectroscopy has been vital in development of fundamental theories of quantum physics along with other general theories. Raman spectroscopy is based on the Raman Effect of scattering photons when passed through a matter. Raman spectroscopy is a non-destructive technique used to detect vibrational, rotational, and other states in a molecular system and provides information about chemical structure, crystallinity, phase, contamination and impurity, intrinsic stress/strain and other such properties. Raman spectroscopy is being used in combination with instruments other than spectrophotometers such as rheometers, microscopes and others, for faster characterization of specimens and their chemical compositions. For instance, companies such as HORIBA, Ltd., Thermo Fisher Scientific, WITec and others provide Raman microscope which combine a standard optical microscope with Raman spectrometer for microscopic analysis of chemical composition of specimens to identify contaminants and impurities. Spectrometers are combined with Rheometer to obtain chemical as well as physical information of samples which enables customers to optimise their products by adapting formulations more quickly. For instance, Anton Paar GmbH offers a setup consisting of rheometer and Raman spectrometer which opens up new measurement possibilities of physical and chemical properties, simultaneously. The combination of Raman spectrometers with other instruments has increased its application scope, thus driving the growth of global Raman spectroscopy market.
The recent outbreak of COVID-19 has hit the world with a total of more than 5 million affected patients and a death toll of more than 320,000 people across the globe. There is a daily rise of about 100,000 patients worldwide, states the latest data released by World Health Organization in May 2020. This has increased the pressure on healthcare infrastructure and medical care givers of the affected countries. Governments are focusing on increasing their testing rates to identify positive patients and stop the spread of this deadly virus. The common testing procedures mainly use chemicals which are expensive and difficult to replenish in present time of global shutdown. Researchers and medical experts around the world have identified that Raman spectroscopy is an effective method of testing coronavirus with faster turnaround times. Teams of scientists at New York University and Northern Arizona University are developing new technology for testing coronavirus using a spectrometer to measure the interatomic vibrations resulting after shining a ray of light on the collected specimens. In similar instance, BioMark Diagnostics Inc. announced in a press release of March 2020 that their advanced Raman spectrometer can be modified for potential testing of certain pathogens within the corona patients. Thus, the potential of Raman spectrometers to perform COVID-19 tests rapidly, aiding in significantly reducing the spread of infection, is thereby anticipated to boost the growth of global Raman spectroscopy market over the future years.
Product Type Outlook:
Based on type of product, handheld/portable Raman spectrometers held largest share in the global Raman spectroscopy market in 2018, owing to ease of use. The handheld Raman spectroscopy was initially designed for pharmaceutical industry facilitating multipoint checks along the manufacturing chain. The handheld spectroscopy enables on-site testing owing to its portable and ergonomic design with point and shoot operation. These devices bare benefits such as rapid response, cost efficiency flexibility of operation and others. The major players such as B&W Tek, Anton Paar GmbH, HTDS and others offer portable and handheld Raman spectrometers. The wide range of offering by companies coupled with the benefits of handheld spectrometers has contributed towards their large share in the global Raman spectroscopy market. The bench-top Raman spectrometers are widely being used in combination with equipment such as rehometers, microscope and others in research laboratories of pharmaceutical, electronic and many other industries. Thus, the growing investment of these industries in research and development activities is poised to raise the demand for bench top Raman spectrometers for laboratory testing, and hence is anticipated to supplement the growth of global Raman spectroscopy market over the forecast period.
Application Outlook
Based on application, semiconductors and electronics led the global Raman spectroscopy market in 2018. The digital revolution has transformed the industries as well as day to day life. With growing application of robotics and automation, requirement for advanced semiconductors and electronic components has increased. Raman spectrometers are widely used in electronics industry for testing basic properties of semiconductors such as stress/strain, purity, alloy composition, defect analysis, doping effects and others. Raman spectrometers are used in photovoltaic industry for monitoring stresses and crystallinity in silicon wafers. The wide applications of Raman spectrometers in semiconductor and electronics industry coupled with growing robotics and automation sector has contributed towards growth of global Raman spectroscopy market. Portable Raman spectrometers are suitable for non-contact and non-destructive testing of chemicals and hence are also largely preferred for controlling narcotics trafficking activities. European drug agency stated in a press release of 2017, that it has seized about 140 tonnes of cocaine in the same year. The continuously expanding illicit drugs market has led to rise in illegal drug trafficking, thus forcing border security agencies to adopt stringent checking. The border security officers require fast and portable devices for efficiently handling the high cross-border traffic, which is leading to increased adoption of handheld Raman spectrometers. Thus, emerging applications of handheld Raman spectrometers in security and forensics is anticipated to influence the global demand for Raman spectroscopy over forecast years.
Regional Outlook:
North America region registered the highest share in global Raman spectroscopy market in 2018. The growing petroleum and petrochemical industry in the region has increased demand for Raman spectrometers to identify minerals, gases and oil shale thus increasing the share of North America region in global Raman spectroscopy market. Asia Pacific is anticipated to show fastest growth rate owing to increasing pharmaceutical industry and electronics industry in the countries such as China, Japan and others. Raman spectrometer has wide array of applications in pharmaceutical industry such as compound distribution in tablets, raw material verification, determining crystallinity, contaminant identification and many others. As per a latest report released in 2020 by Convention on Pharmaceutical ingredients (CPhI), a community of pharmaceutical professionals, the sales of pharmaceuticals in Southeast Asian countries is expected to reach US$ 40 billion. The region also produces a large amount of generic medicines which contribute towards the total pharmaceutical sales in the region. Thus, the expanding pharmaceutical industry in the Asia Pacific region is anticipated to drive the growth of global Raman spectroscopy market over forecast period.
In terms of revenue, global Raman spectroscopy market was valued at US$ 517.2 Mn in 2018 and is anticipated to grow at a CAGR of 5.7% over the forecast period reaching to US$ 853.3 in 2027. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
Global Raman Spectroscopy Market Revenue & Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
The report provides both, qualitative and quantitative research of Raman spectroscopy market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.
Some of the players operating in the Raman spectroscopy market are Agilent Technologies, Inc., B&W Tek, Bruker, FOSS (Ibsen Photonics A/S), Guangdong Shoumenshen Technology Group Co., Ltd., Hitachi High-Tech America, Inc., HORIBA, Ltd., JASCO Benelux B.V., Kaiser Optical Systems, Inc. (Endress+Hauser Group), Ocean Insight, PerkinElmer, Inc., Renishaw plc., RIGAKU CORPORATION, SciAps, Inc., Smiths Detection Group Ltd., Thermo Fisher Scientific, TSI, WITec and ZOLIXINSTRUMENTS CO. LTD. amongst others.
Global Raman Spectroscopy Market:
- By Product Type
- Handheld/ Portable
- Bench-top
- By Application
- Plastics and Polymer
- Healthcare and Pharmaceuticals
- Academic Research
- Semiconductor and Electronics
- Petroleum and Petrochemicals
- Security and Forensics
- Gems and Jewellery
- Others (Food and Feed, Batteries/Energy Storage, Etc.)
- By Sales Channel
- Direct
- Indirect
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
1.
Market Scope
1.1.
Market Segmentation
1.2.
Years Considered
1.2.1.
Historic Years: 2013 - 2017
1.2.2.
Base Year: 2018
1.2.3.
Forecast Years: 2019 – 2027
2.
Key Target Audiences
3.
Research Methodology
3.1.
Primary Research
3.1.1.
Research Questionnaire
3.1.2.
Global Percentage Breakdown
3.1.3.
Primary Interviews: Key Opinion Leaders
(KOLs)
3.2.
Secondary Research
3.2.1.
Paid Databases
3.2.2.
Secondary Sources
3.3.
Market Size Estimates
3.3.1.
Top-Down Approach
3.3.2.
Bottom-Up Approach
3.4.
Data Triangulation Methodology
3.5.
Research Assumptions
4.
Recommendations and Insights
from AMI’s Perspective**
5.
Holistic Overview of Raman
Spectroscopy Market
6.
Market Synopsis: Raman Spectroscopy Market
7.
Raman Spectroscopy Market
Analysis: Qualitative Perspective
7.1.
Introduction
7.1.1.
Product Definition
7.1.2.
Industry Development
7.2.
Market Dynamics
7.2.1.
Drivers
7.2.2.
Restraints
7.2.3.
Opportunities
7.3.
Trends in Raman Spectroscopy Market
7.4.
Market Determinants Radar Chart
7.5.
Macro-Economic and Micro-Economic
Indicators: Raman Spectroscopy Market
7.6. Porter’s
Five Force Analysis
7.7. Technology
Analysis: Raman Spectroscopy Market
7.8.
Insights on Application of Software and
Accessories in Raman Spectroscopy
8.
Global Raman Spectroscopy
Market Analysis and Forecasts, 2019 – 2027
8.1.
Overview
8.1.1.
Global Raman Spectroscopy Market
Revenue (US$ Mn)
8.2.
Global Raman Spectroscopy Market
Revenue (US$ Mn) and Forecasts, By Product Type
8.2.1.
Handheld/ Portable
8.2.1.1.
Definition
8.2.1.2.
Market Estimation and
Penetration, 2013 – 2018
8.2.1.3.
Market Forecast, 2019 – 2027
8.2.1.4.
Compound Annual Growth Rate
(CAGR)
8.2.1.5.
Regional Bifurcation
8.2.1.5.1.
North America
8.2.1.5.1.1.
Market Estimation, 2013 – 2018
8.2.1.5.1.2.
Market Forecast, 2019 – 2027
8.2.1.5.2.
Europe
8.2.1.5.2.1.
Market Estimation, 2013 – 2018
8.2.1.5.2.2.
Market Forecast, 2019 – 2027
8.2.1.5.3.
Asia Pacific
8.2.1.5.3.1.
Market Estimation, 2013 – 2018
8.2.1.5.3.2.
Market Forecast, 2019 – 2027
8.2.1.5.4.
Middle East and Africa
8.2.1.5.4.1.
Market Estimation, 2013 – 2018
8.2.1.5.4.2.
Market Forecast, 2019 – 2027
8.2.1.5.5.
Latin America
8.2.1.5.5.1.
Market Estimation, 2013 – 2018
8.2.1.5.5.2.
Market Forecast, 2019 – 2027
8.2.2.
Bench-Top
8.2.2.1.
Definition
8.2.2.2.
Market Estimation and
Penetration, 2013 – 2018
8.2.2.3.
Market Forecast, 2019 – 2027
8.2.2.4.
Compound Annual Growth Rate
(CAGR)
8.2.2.5.
Regional Bifurcation
8.2.2.5.1.
North America
8.2.2.5.1.1.
Market Estimation, 2013 – 2018
8.2.2.5.1.2.
Market Forecast, 2019 – 2027
8.2.2.5.2.
Europe
8.2.2.5.2.1.
Market Estimation, 2013 – 2018
8.2.2.5.2.2.
Market Forecast, 2019 – 2027
8.2.2.5.3.
Asia Pacific
8.2.2.5.3.1.
Market Estimation, 2013 – 2018
8.2.2.5.3.2.
Market Forecast, 2019 – 2027
8.2.2.5.4.
Middle East and Africa
8.2.2.5.4.1.
Market Estimation, 2013 – 2018
8.2.2.5.4.2.
Market Forecast, 2019 – 2027
8.2.2.5.5.
Latin America
8.2.2.5.5.1.
Market Estimation, 2013 – 2018
8.2.2.5.5.2.
Market Forecast, 2019 – 2027
8.3.
Key Segment for Channeling Investments
8.3.1.
By Product Type
9.
Global Raman Spectroscopy
Market Analysis and Forecasts, 2019 – 2027
9.1.
Overview
9.2.
Global Raman Spectroscopy Market
Revenue (US$ Mn) and Forecasts, By Application
9.2.1.
Plastics and Polymer
9.2.1.1.
Definition
9.2.1.2.
Market Estimation and
Penetration, 2013 – 2018
9.2.1.3.
Market Forecast, 2019 – 2027
9.2.1.4.
Compound Annual Growth Rate
(CAGR)
9.2.1.5.
Regional Bifurcation
9.2.1.5.1.
At Absolute Markets Insights, we are engaged in building both global as well as country specific reports. As a result, the approach taken for deriving the estimation and forecast for a specific country is a bit unique and different in comparison to the global research studies. In this case, we not only study the concerned market factors & trends prevailing in a particular country (from secondary research) but we also tend to calculate the actual market size & forecast from the revenue generated from the market participants involved in manufacturing or distributing the any concerned product. These companies can also be service providers. For analyzing any country specifically, we do consider the growth factors prevailing under the states/cities/county for the same. For instance, if we are analyzing an industry specific to United States, we primarily need to study about the states present under the same(where the product/service has the highest growth). Similar analysis will be followed by other countries. Our scope of the report changes with different markets.
Our research study is mainly implement through a mix of both secondary and primary research. Various sources such as industry magazines, trade journals, and government websites and trade associations are reviewed for gathering precise data. Primary interviews are conducted to validate the market size derived from secondary research. Industry experts, major manufacturers and distributors are contacted for further validation purpose on the current market penetration and growth trends.
Prominent participants in our primary research process include:
- Key Opinion Leaders namely the CEOs, CSOs, VPs, purchasing managers, amongst others
- Research and development participants, distributors/suppliers and subject matter experts
Secondary Research includes data extracted from paid data sources:
- Reuters
- Factiva
- Bloomberg
- One Source
- Hoovers
Research Methodology
Key Inclusions
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