Asia Pacific IR Spectroscopy Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Near-infrared, Mid-infrared, and Far-infrared), Product Type (Benchtop Spectroscopes, Micro Spectroscopes, Portable Spectroscopes, and Hyphenated Spectroscopes), and End-user (Healthcare, Chemicals, Oil and Gas, Food and Beverages, and Other End-users)

TIPRE00022213 | Pages: 126 | Electronics and Semiconductor | May 2021 | Type: Regional | Status: Published

Market Introduction

The presence of developing economies such as China, India, South Korea, Malaysia, the Philippines, and Taiwan helps in making Asia a developing region. Stable economies and technological advancements support the growth of diversified industries and markets in Asia. The healthcare industry of Asia is growing owing to the increasing scope of home care, medical tourism, and rising number of hospitals. Also, the implementation of advanced technologies such as IR spectroscopes is positively impacting the healthcare industry. Countries such as China is investing a significant amount to strengthen their healthcare industry. For instance, amid COVID-19, when Chinese government and QVIA Pharma Audits witnessed adverse impact on life science & healthcare industry, the government has proposed plans to boost the investment in healthcare. Therefore, IQVIA has focused on building new healthcare infrastructure by putting efforts in intensive care units and adopting hospital digital solutions. Integration of new technologies and building new healthcare units will help the healthcare professionals to analyze sample and diagnose disease. Additionally, Malaysia, Singapore, Taiwan, and South Korea, are the other Asian countries known for housing medically advanced institutions and attracting a large number of patients across the world. Apart from growing healthcare industry, China, Japan, and India are the key chemical producing countries in the world. The large chemical production capabilities have underlined the need for analyzing chemicals to detect and quantify information with respect to molecules and atoms in elemental composition. Also, imprints of companies such as Hitachi Ltd.; JASCO International Co., Ltd.; and Shimadzu Corporation in the region holds a significant position in boosting both production and sales cycle of IR spectroscopes among diversified industries, thereby influencing the market growth.

According to latest situation report from the World Health Organization (WHO), India, Australia, Japan, and China are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in 2020 and likely in 2021. The outbreak has created significant disruptions in primary industries such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the APAC IR spectroscopy market as they are the major supply and demand sources for IR spectroscopy products and solutions. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of IR spectroscopy. Asia Pacific is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, and huge population. All these factors make APAC a major region for the growth of various markets including IR spectroscopy. The lockdown of various plants and factories in all economies of the region is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various products and services. In addition to this, the region is a global manufacturing hub with countries, such as China, Japan, South Korea, and India, leading the global manufacturing industry growth. Disruptions in manufacturing units has stopped the production of new IR spectroscopes, thus negatively impacted the market growth. On the contrary, the government is lifting lockdowns in all the countries, which is projected to positively impact the production and development of new spectroscopes. Also, in the wake of COVID-19, as IR spectroscopes are widely used among pharmaceutical industry for the formation of medicines, spectroscopes will play a vital role in analyzing the same.


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Market Overview and Dynamics

The Asia Pacific IR spectroscopy market is expected to grow from is expected to reach US$ 604.23 million by 2028 from 351.60 US$ million in 2020. The market is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The food industry has continuously strived to be in consonance with the modern developments that have taken place in the food processing. A few aspects that have been enhanced by the implementation of the latest technologies include value addition, freshness, varied flavor and textures, and preservation of nutrient profile. The NIR spectrometers have a broad array of application in agro-food, food units, and many other fields. In agro-food industry, the IR spectroscopy application comprises chemical detection, pesticide residue detection, physical hazards detection, microbiological hazard detection, and food safety & traceability. Moreover, in food industry, the spectrometers deal with different fields of agricultural products such as crops, fruits, vegetables, oil & beverages, and dairy products.

The method of observing product’s biochemical qualities, such as skin and flesh color, respiration rate, firmness, content of sugars/pigments/organic acids/volatile and phenolic compounds, and ethylene production, is becoming a huge concern. Therefore, due to expanding scope of product authenticity and quality, and exposure of falsely labeled foods, the demand for IR spectroscopy in food industry is increasing.

Moreover, IR spectroscopy is the leading technology used during the analysis of raw materials, process control, and specifications of the final product in dairy industry. Techniques such as near-infrared and mid-infrared are successfully deployed for assessing milk and dairy product’s quality such as milk powder, whey, whole-plant corn silage (WPCS), and cheese. For instance, Teixeira et al., has determined spectroscopic patterns of antibiotics isolated in milk for detecting minimum amounts of compounds precisely and rapidly. The FTIR spectroscopy is developed to overwhelm limits related to old dispersive instruments. FTIR technique is highly efficient, reliable, easy-to-perform, and no pre-treatment of samples required. This technology provides consistent and direct method for handling various food products with non-damaging analysis.

 Key Market Segments

In terms of technology, the mid-infrared segment accounted for the largest share of the APAC IR spectroscopy market in 2020. In terms of product type, the benchtop spectroscopes segment held a larger market share of the APAC IR spectroscopy market in 2020. Further, the healthcare segment held a larger share of the APAC IR spectroscopy market based on end-user in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the APAC IR spectroscopy market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agilent Technologies, Inc.; Bruker Corporation; Carl Zeiss AG; Hitachi, Ltd.; Horiba, Ltd.; JASCO; International Co., Ltd.; Lumex Instruments; PerkinElmer, Inc.; Shimadzu Corporation; and Thermo Fisher Scientific Inc.

Reasons to buy report

  • To understand the APAC IR spectroscopy market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC IR spectroscopy market
  • Efficiently plan M&A and partnership deals in APAC IR spectroscopy market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC IR spectroscopy market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC IR Spectroscopy Market Segmentation

 APAC IR Spectroscopy Market – By Technology

  • Near-infrared
  • Mid- infrared
  • Far-infrared

APAC IR Spectroscopy Market – By Product Type

  • Benchtop Spectroscopes
  • Micro Spectroscopes
  • Portable Spectroscopes
  • Hyphenated Spectroscopes

 

APAC IR Spectroscopy Market – By End-user

  • Healthcare
  • Chemicals
  • Oil and Gas
  • Food and Beverages
  • Other End-users

 

APAC IR Spectroscopy Market - By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

 

APAC IR Spectroscopy Market - Company Profiles

  • Agilent Technologies, Inc.
  • Bruker Corporation
  • Carl Zeiss AG
  • Hitachi, Ltd.
  • Horiba, Ltd.
  • JASCO International Co., Ltd.
  • Lumex Instruments
  • PerkinElmer, Inc.
  • Shimadzu Corporation
  • Thermo Fisher Scientific Inc.

TABLE OF CONTENTS

1.            Introduction

1.1       Study Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

1.3.1        APAC IR Spectroscopy Market – By Technology

1.3.2        APAC IR Spectroscopy Market – By Product Type

1.3.3        APAC IR Spectroscopy Market – By End-user

1.3.4        APAC Spectroscopy Market- By Country

2.            Key Takeaways

3.            Research Methodology

3.1       Coverage

3.2       Secondary Research

3.3       Primary Research

4.            Asia Pacific IR Spectroscopy Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.3       Ecosystem Analysis

4.4       Expert Opinion

5.            Asia Pacafic IR Spectroscopy Market – Key Market Dynamics

5.1       Key Market Drivers

5.1.1        Increasing Applications in Pharmaceutical and Healthcare Industry

5.1.2        Growing opportunity of IR Spectroscopy in Asia Pacific Region

5.2       Key Market Restraints

5.2.1        High Priced IR Spectroscopy Solutions

5.3       Key Market Opportunities

5.3.1        Imminent Growth Opportunity in Food Industry

5.4       Future Trends

5.4.1        Emergence of Portable/Handheld Spectrometers

5.5       Impact Analysis of Drivers and Restraints

6.            Asia Pacific IR Spectroscopy Market – APAC Market Analysis

6.1       APAC IR Spectroscopy Market Overview

6.1.1        APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

7.            Asia Pacific IR Spectroscopy Market Analysis – By Technology

7.1       Overview

7.2       APAC IR Spectroscopy Market, By Technology (2020 and 2028)

7.3       Near-infrared

7.3.1        Overview

7.3.2        Near-infrared: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

7.4       Mid-infrared

7.4.1        Overview

7.4.2        Mid-infrared: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

7.5       Far-infrared

7.5.1        Overview

7.5.2        Far-infrared: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

8.            Asia Pacific IR Spectroscopy Market – By Product Type

8.1       Overview

8.2       APAC IR Spectroscopy Market, by Product Type (2020 and 2028)

8.3       Benchtop Spectroscopes

8.3.1        Overview

8.3.2        Benchtop Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

8.4       Micro Spectroscopes

8.4.1        Overview

8.4.2        Micro Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

8.5       Portable Spectroscopes

8.5.1        Overview

8.5.2        Portable Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

8.6       Hyphenated Spectroscopes

8.6.1        Overview

8.6.2        Hyphenated Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

9.            Asia Pacific IR Spectroscopy Market – By End-User

9.1       Overview

9.2       APAC IR Spectroscopy Market, by End-User (2020 and 2028)

9.3       Healthcare

9.3.1        Overview

9.3.2        Healthcare: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

9.4       Chemicals

9.4.1        Overview

9.4.2        Chemicals: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

9.5       Oil and Gas

9.5.1        Overview

9.5.2        Oil and Gas: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

9.6       Food and Beverages

9.6.1        Overview

9.6.2        Food and Beverages: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

9.7       Other End-Users

9.7.1        Overview

9.7.2        Other End-Users: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.         Asia Pacific IR Spectroscopy Market – Country Analysis

10.1.1     APAC: IR Spectroscopy Market- by Key Country

10.1.1.1   Australia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1    Australia: IR Spectroscopy Market- by Technology

10.1.1.1.2    Australia: IR Spectroscopy Market- By Product Type

10.1.1.1.3    Australia: IR Spectroscopy Market- By End-user

10.1.1.2   China: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1    China: IR Spectroscopy Market- by Technology

10.1.1.2.2    China: IR Spectroscopy Market- By Product Type

10.1.1.2.3    China: IR Spectroscopy Market- By End-user

10.1.1.3   India: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1    India: IR Spectroscopy Market- by Technology

10.1.1.3.2    India: IR Spectroscopy Market- By Product Type

10.1.1.3.3    India: IR Spectroscopy Market- By End-user

10.1.1.4   Japan: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.4.1    Japan: IR Spectroscopy Market- by Technology

10.1.1.4.2    Japan: IR Spectroscopy Market- By Product Type

10.1.1.4.3    Japan: IR Spectroscopy Market- By End-user

10.1.1.5   South Korea: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.5.1    South Korea: IR Spectroscopy Market- by Technology

10.1.1.5.2    South Korea: IR Spectroscopy Market- By Product Type

10.1.1.5.3    South Korea: IR Spectroscopy Market- By End-user

10.1.1.6   Rest of APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.6.1    Rest of APAC: IR Spectroscopy Market- by Technology

10.1.1.6.2    Rest of APAC: IR Spectroscopy Market- By Product Type

10.1.1.6.3    Rest of APAC: IR Spectroscopy Market- By End-user

11.         APAC IR Spectroscopy Market- COVID-19 Impact Analysis

11.1    Overview

11.2    Asia Pacific

12.         Industry Landscape

12.1    Overview

12.2    Market Initiative

12.3    New Product Development

13.         Company Profiles

13.1     Agilent Technologies, Inc.

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2    Bruker Corporation

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3    Hitachi, Ltd.

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4    Horiba, Ltd.

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5    JASCO International Co., Ltd.

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6    PerkinElmer, Inc.

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7    Shimadzu Corporation

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8    Thermo Fisher Scientific Inc.

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9    Lumex Instruments

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10 Carl Zeiss AG

13.10.1   Key Facts

13.10.2   Business Description

13.10.3   Products and Services

13.10.4   Financial Overview

13.10.5   SWOT Analysis

13.10.6   Key Developments

14.         Appendix

14.1    About The Insight Partners

14.2       Word Index

LIST OF TABLES

Table 1.            Australia: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 2.            Australia: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 3.            Australia: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 4.            China: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 5.            China: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 6.            China: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 7.            India: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 8.            India: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 9.            India: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 10.          Japan: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 11.          Japan: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 12.          Japan: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 13.          South Korea: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 14.          South Korea: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 15.          South Korea: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 16.          Rest of APAC: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)

Table 17.          Rest of APAC: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)

Table 18.          Rest of APAC: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)

Table 19.             List of Abbreviation 

LIST OF FIGURES

Figure 1.           APAC IR Spectroscopy Market Segmentation

Figure 2.           APAC IR Spectroscopy Market Segmentation – By Country

Figure 3.           APAC l IR Spectroscopy Market Overview

Figure 4.           Mid-infrared Segment Held the Largest Market Share in 2020

Figure 5.           Benchtop Spectroscopes Held the Largest Market Share in 2020

Figure 6.           Healthcare End-user Held the Largest Market Share in 2020

Figure 7.           China was the Largest Revenue Contributor in 2020

Figure 8.           Asia-Pacific – PEST Analysis

Figure 9.           APAC IR Spectroscopy Market– Ecosystem Analysis

Figure 10.        Expert Opinion

Figure 11.        APAC IR Spectroscopy Market: Impact Analysis of Drivers and Restraints

Figure 12.        APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        APAC: IR Spectroscopy Market Revenue Share, By Technology (2020 and 2028)

Figure 14.        Near-infrared: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Mid-infrared: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Far-infrared APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        APAC: IR Spectroscopy Market Revenue Share, By Product Type (2020 and 2028)

Figure 18.        Benchtop Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Micro Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Portable Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Hyphenated Spectroscopes: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.        APAC: IR Spectroscopy Market Revenue Share, By End-user (2020 and 2028)

Figure 23.        Healthcare: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        Chemicals: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.        Oil and Gas: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Food and Beverages: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        Other End-Users: APAC IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        APAC: IR Spectroscopy Market, by Key Country – Revenue (2020) (USD Million)

Figure 29.        APAC: IR Spectroscopy Market Revenue Share, By Key Country (2020 and 2028)

Figure 30.        Australia: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31.        China: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.        India: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Japan: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.        South Korea: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35.        Rest of APAC: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 36.            Impact of COVID-19 Pandemic in Asia Pacific Country Markets

The List of Companies - APAC IR Spectroscopy Market

  1. Agilent Technologies, Inc.
  2. Bruker Corporation
  3. Carl Zeiss AG
  4. Hitachi, Ltd.
  5. Horiba, Ltd.
  6. JASCO International Co., Ltd.
  7. Lumex Instruments
  8. PerkinElmer, Inc.
  9. Shimadzu Corporation
  10. Thermo Fisher Scientific Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC IR spectroscopy market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in APAC IR spectroscopy market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the IR spectroscopy market as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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