North America Process Spectroscopy Market Size, Share & Industry Trends Analysis Report By Technology, By Component, By Application (Pharmaceutical, Food & Agriculture, Polymer, Chemical, Water & Wastewater, Pulp & Paper, Metal & Mining), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Process Spectroscopy Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
Process spectroscopy is increasingly being used in the pharmaceutical sector for processes such as vital data collecting for numerous compounds' characteristics. As a result, the growing number of studies in the pharmaceutical industry focused on the microscopic analysis of chemicals shows the significant commercial potential in the process spectroscopy market. Furthermore, a growth in pharmaceutical businesses' willingness to adopt various technologically advanced equipment is likely to drive need for players in the process spectroscopy market.
Raman spectroscopy has seen significant technological advancements, including the capacity to determine a compound's purity and the ability to derive a comprehensive fingerprinting from the Raman spectrum. Moreover, the emergence of cloud-based spectroscopy opens up a wide range of possibilities for use by many end-use sectors.
Enhanced process control in oils and extraction plants necessitates the build-up of a reliable on-line technique to monitor process streams. In a pilot plant setting, the applicability of diffuse reflectance near-infrared (NIR) spectroscopy for this objective was investigated. An on-line fiber-optic probe was used to monitor the spectra of a feed slurry running by a pipe. The ore kind and slurry water content were modified for a nine-hour period in which data was collected.
Additionally, there are many companies across this region which are investing in the development of various products and techniques for assisting researchers. Along with that, governments in the developed nations of the region are increasingly expenditure in the R&D activities for the improvements in the medical sector. This would spur the demand and growth of the regional process spectroscopy market during the forecast period.
The US market dominated the North America Others Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $717.3 million by 2028. The Canada market would witness a CAGR of 9.6% during (2022 - 2028). Additionally, The Mexico market is anticipated to a CAGR of 8.7% during (2022 - 2028).
Based on Technology, the market is segmented into Molecular (Near Infrared (NIR), Raman, Nuclear Magnetic Resonance (NMR), Fourier-Transform Infrared (FT-IR), and Others), Mass, and Atomic. Based on Component, the market is segmented into Hardware and Software. Based on Application, the market is segmented into Pharmaceutical, Food & Agriculture, Polymer, Chemical, Water & Wastewater, Pulp & Paper, Metal & Mining, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Process Spectroscopy Market Size will Hit $26.9 Billion by 2028, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., ABB Group, Bruker Corporation, Horiba Ltd., Agilent Technologies, Inc., Danaher Corporation, Shimadzu Corporation, Yokogawa Electric Corporation, Sartorius AG and BUCHI Labortechnik AG.
Scope of the Study
Market Segments Covered in the Report:
- Food & Agriculture
- Water & Wastewater
- Pulp & Paper
- Metal & Mining
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Thermo Fisher Scientific, Inc.
- ABB Group
- Bruker Corporation
- Horiba Ltd.
- Agilent Technologies, Inc.
- Danaher Corporation
- Shimadzu Corporation
- Yokogawa Electric Corporation
- Sartorius AG
- BUCHI Labortechnik AG.
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