North America 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)
Market Introduction
The US, Canada, and Mexico are the major economies in North America that have witnessed growth in their industrial sectors including healthcare and food. The continuous contribution of tech-giants in technological advancements has created a stir in the competitive market across the region, thereby integrating advanced technologies in their respective business processes for better growth in future. North America leads the IR spectroscopy market, and the market is anticipated to be the largest revenue contributor to the region during the forecast period. Also, healthcare industry is a major part of the US economy, and the countries such as the US spends heavily on advancing its healthcare industry to support the well-being and health of individuals. Ambulatory surgical centers, clinics and medical offices, diabetes education centers, dialysis centers, and hospitals are the common healthcare facilities found in the region, especially in the US. With a large number of mentioned healthcare facilities, the scope for IR spectroscopes is projected to grow in the region. In context to the US food processing industry, the companies are well-aware of safety and quality norms prescribed by the Food and Drug Administration (FDA). To follow those guidelines of food safety, the food manufacturers are using advanced technologies, such as IR spectroscopes. As per the data released by Census Bureau's 2017 Economic Census, there are more than 36,000 food & beverage processing plants established in the US. This huge number of plants offers the IR spectroscope manufacturers an opportunity to cater more food processing units to produce high quality food. Additionally, the presence of well-known IR spectroscope manufacturers such as Agilent Technologies, Inc.; Bruker Corporation; Lumex Instruments; PerkinElmer, Inc.; and Thermo Fisher Scientific Inc. is also expected to create a positive impact on both production and sales of IR spectroscopes in the region. Additionally, any development undertaken by mentioned companies would generate revenue in this market. For instance, PerkinElmer Inc. launched DA 6200 NIR analyser in May 2019. This new NIR spectrometer will facilitate meat and olive processors to perform accurately.
The US is the worst-hit country in North America due to the outbreak of COVID-19, with thousands of infected individuals facing severe health conditions across the country. Increasing number of infected individuals has led the government to impose lockdown across the nation’s borders during Q2. The majority of the manufacturing plants were either temporarily shut or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the North American manufacturers. The US is one of the largest markets for IR spectroscopy especially in medical, food & beverages, and oil & gas, owing to stringent government/industry regulations regarding safety and quality standards. Also, the country has a larger density of IR spectroscopy manufacturers. However, the outbreak has severely affected the production and revenue generation with the lower number of manufacturing staff. Thus, the factors mentioned above have had a negative impact on the growth of the IR spectroscopy market in the region.
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Market Overview and Dynamics
The North America IR spectroscopy market is expected to grow from US$ 432.24 million in 2020 to US$ 699.54 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028. Portable spectrometers or handheld spectrometers enable the researchers to analyze varied samples on the go. Identification of raw materials, field analysis of samples, and forensic analysis are among the applications of portable spectroscopes. Moreover, portable spectroscopes provide analysis capabilities similar to benchtop models. Compatibility for specific applications, software and interface, spectral range, integration to mobile or computer, and accuracy are among the notable factors to be considered while buying portable spectrometer. Metrohm Instant Raman Analyzers (Mira P), ASD QualitySpec Trek Portable Spectrometer (Malvern Panalytical), RapID Portable Raman Raw Material ID Verification (Agilent Technologies), and TerraSpec Halo Portable Mineral Analyzer, (Malvern Panalytical) are some of the portable spectroscopes along with the name of their providers. In the last few years, the IR spectroscopy has witnessed the arrival of handheld/portable laser-induced breakdown spectroscopy (LIBS) and smartphone spectroscopy concentrating on medical diagnostics for low-resource areas. The emergence and capabilities of portable instruments have increased drastically in the last 20 years, along with becoming compact and lighter. Pertaining to the factors such as developments in computing power, consumer electronics, constant R&D, and manufacturing advancement for the production of instruments are contributing toward the adoption of portable spectroscopy. In addition, a few product launches have been experienced in the market in context to North America IR spectroscopy. Therefore, as the analyzing instruments are becoming lighter, smaller, and more capable, the application areas of IR spectroscopy are broadening.
Key Market Segments
In terms of technology, the mid-infrared segment accounted for the largest share of the North America IR spectroscopy market in 2020. In terms of product type, the benchtop spectroscopes segment held a larger market share of the North America IR spectroscopy market in 2020. Further, the healthcare segment held a larger share of the North America 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 North America 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.
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- To understand the North America IR spectroscopy market landscape and identify market segments that are most likely to guarantee a strong return
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- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America IR Spectroscopy Market Segmentation
North America IR Spectroscopy Market – By Technology
- Near-infrared
- Mid- infrared
- Far-infrared
North America IR Spectroscopy Market – By Product Type
- Benchtop Spectroscopes
- Micro Spectroscopes
- Portable Spectroscopes
- Hyphenated Spectroscopes
North America IR Spectroscopy Market – By End-user
- Healthcare
- Chemicals
- Oil and Gas
- Food and Beverages
- Other End-users
North America IR Spectroscopy Market - By Country
- US
- Canada
- Mexico
North America 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 North America IR Spectroscopy Market – By Technology
1.3.2 North America IR Spectroscopy Market – By Product Type
1.3.3 North America IR Spectroscopy Market – By End-user
1.3.4 North America IR Spectroscopy Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America IR Spectroscopy Market Landscape
4.1 Market Overview
4.2 North America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America IR Spectroscopy Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Upraising Applications in Pharmaceutical and Healthcare Industry
5.2 Key Market Restraints
5.2.1 Heavy Cost of IR Spectroscopy Solutions
5.3 Key Market Opportunities
5.3.1 Forthcoming 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. IR Spectroscopy Market – North America Market Analysis
6.1 North America IR Spectroscopy Market Overview
6.2 North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
7. North America IR Spectroscopy Market Analysis – By Technology
7.1 Overview
7.2 North America IR Spectroscopy Market, By Technology (2020 and 2028)
7.3 Near-infrared
7.3.1 Overview
7.3.2 Near-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Mid-infrared
7.4.1 Overview
7.4.2 Mid-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Far-infrared
7.5.1 Overview
7.5.2 Far-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8. North America IR Spectroscopy Market – By Product Type
8.1 Overview
8.2 North America IR Spectroscopy Market, by Product Type (2020 and 2028)
8.3 Benchtop Spectroscopes
8.3.1 Overview
8.3.2 Benchtop Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Micro Spectroscopes
8.4.1 Overview
8.4.2 Micro Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Portable Spectroscopes
8.5.1 Overview
8.5.2 Portable Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Hyphenated Spectroscopes
8.6.1 Overview
8.6.2 Hyphenated Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9. North America IR Spectroscopy Market – By End-User
9.1 Overview
9.2 North America IR Spectroscopy Market, by End-User (2020 and 2028)
9.3 Healthcare
9.3.1 Overview
9.3.2 Healthcare: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Chemicals
9.4.1 Overview
9.4.2 Chemicals: North America 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: North America 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: North America 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: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10. North America IR Spectroscopy Market – Country Analysis
10.1 North America: IR Spectroscopy Market
10.1.1 North America: IR Spectroscopy Market- by Key Country
10.1.1.1 US: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: IR Spectroscopy Market- by Technology
10.1.1.1.2 US: IR Spectroscopy Market- By Product Type
10.1.1.1.3 US: IR Spectroscopy Market- By End-user
10.1.1.2 Canada: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: IR Spectroscopy Market- by Technology
10.1.1.2.2 Canada: IR Spectroscopy Market- By Product Type
10.1.1.2.3 Canada: IR Spectroscopy Market- By End-user
10.1.1.3 Mexico: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: IR Spectroscopy Market- by Technology
10.1.1.3.2 Mexico: IR Spectroscopy Market- By Product Type
10.1.1.3.3 Mexico: IR Spectroscopy Market- By End-user
11. North America IR Spectroscopy Market- COVID-19 Impact Analysis
11.1 North America
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. US: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 2. US: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: IR Spectroscopy Market- by Technology –Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: IR Spectroscopy Market- By Product Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: IR Spectroscopy Market- By End-user –Revenue and Forecast to 2028 (US$ Million)
Table 10. List of Abbreviation
LIST OF FIGURES
Figure 1. North America IR Spectroscopy Market Segmentation
Figure 2. IR Spectroscopy Market Segmentation – By Country
Figure 3. North America 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. US was the Largest Revenue Contributor in 2020
Figure 8. North America IR Spectroscopy Market– Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America IR Spectroscopy Market: Impact Analysis of Drivers and Restraints
Figure 11. North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America IR Spectroscopy Market Revenue Share, by Technology (2020 and 2028)
Figure 13. Near-infrared: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Mid-infrared IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Far-infrared IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. IR Spectroscopy Market Revenue Share, by Product Type (2020 and 2028)
Figure 17. Benchtop Spectroscopes: North AmerIca IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Micro Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Portable Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Hyphenated Spectroscopes: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America IR Spectroscopy Market Revenue Share, by End-User (2020 and 2028)
Figure 22. Healthcare: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Chemicals: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Oil and Gas: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Food and Beverages: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Other End-Users: North America IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. APAC: IR Spectroscopy Market, by Key Country – Revenue (2020) (USD Million)
Figure 28. North America: IR Spectroscopy Market Revenue Share, by Key Country (2020 and 2028)
Figure 29. US: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Canada: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Mexico: IR Spectroscopy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America IR Spectroscopy Market
- 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.
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