The near-infrared spectroscopy market size is estimated to be USD 483.5 million in 2022 and is expected to witness a CAGR of 6.97% during the forecast period 2023-2033. The rising number of chronic diseases and associated medical treatments and increasing food safety issues are factors contributing to the market growth. The range of applications, product line flexibility and adaptability, increasing demand for screening counterfeit drugs, and the expanding application of NIR spectroscopy in providing chemical and physical information, are expected to drive the market growth. However, lack of skilled workforce is expected to hinder the growth.

Increasing demand for screening counterfeit drugs is predicted to propel the market growth. For instance, WHO reported in a May 2022 article that approximately 11% of drugs sold in emerging nations are fake, which causes 144,000 deaths per year. NIR spectroscopy is one of the methods that many regulatory organisations, including the U.S.-FDA, Ministry of Health, National Medical Stores & NDA, and Health Canada, use to evaluate pharmaceutical authentication.

Increasing food safety issues is projected to fuel the market growth. One of the most often used analytical methods in food quality assurance and control is infrared spectroscopy. According to WHO, m More than 200 different diseases are annually put on by consuming contaminated food, increasing food contamination one of the largest global health hazards.  The World Health Organization (WHO) estimates that 600 million people, or one in every ten people worldwide, get sick from eating contaminated food each year and 420,000 of them pass away. Diarrheal diseases are the most prevalent diseases caused on by consuming contaminated food.

Segmentation

By Product

The market is categorized into fourier transform based (FT-NIR) spectrometers, dispersive infrared spectroscopy. In 2022, the spectroscopy segment accounted for the highest revenue share due to the fact that it is non-destructive, doesn’t need for sample preparation, and does not involve dangerous chemicals, it is fast and dependable for quantitative and qualitative analysis. For quality control objectives, the chemical, food, pharmaceutical, and agricultural industries regularly use FT-NIR spectroscopy. The dispersive near-infrared spectroscopy segment is predicted to grow at the second-fastest rate over the projection period owing to its rising popularity in the agriculture sector.

By Type

The market is categorized into portable and benchtop. In the global market, the benchtop segment accounted for the largest revenue share in 2022 owing to the segment’s high accuracy and potential to identify multiple compounds within a medicine. Additionally, it is anticipated that the historical tendency would continue in the predicted period due to end customers’ growing willingness to invest in testing devices for thorough analysis. The portable segment category is anticipated to develop at the fastest rate during the forecast period due to rising issues about the quality of drugs in low- and middle-income countries, and strategic efforts by international organisations. According to a study published in September 2021 on PLOS, the current market demands a portable near-infrared device that can monitor the quality of all varieties of pharmaceuticals.

By Application

The market is segmented into astronomical spectroscopy, medical applications, agriculture, material science, remote monitoring, industrial use, and particle measurement. In 2022, the particle measurement segment accounted for the largest revenue share owing to rise in pharmaceutical sector regulation in emerging economies. Additionally, it is anticipated that non-healthcare segments will expand more quickly over the forecasted period. One of the biggest non-healthcare sectors for NIR spectroscopy is the semiconductor sector. For instance, Thermo Fisher presented a webinar on May 20, 2022, for semiconductor manufacturers, on the study of chemicals and gas through the Mid and Near IR range. The best option for Process Analytical Technology is regarded to be NIR spectroscopy (PAT).

Regional Markets

In 2022, North America region accounted for the highest revenue in the near-infrared spectroscopy market and is expected to maintain its dominance during the forecast period. This is attributed to the region’s presence of significant pharmaceutical companies and the regional regulatory authorities’ support of NIR spectroscopy. The regulatory bodies’ guidelines help with the development, validation, and application of NIR-based analytical techniques for evaluating the medicine and its constituent parts. On the other hand, the Asia Pacific region is anticipated to exhibit the fastest rate of growth throughout the projected period due to significant advancements made by Japan and India in the use of the near-infrared spectroscopy technology. The proportion of API in a tablet can be estimated using a multi-point probe that uses near infrared spatially resolved spectroscopy (NIR-SRS), which is being developed by a variety of equipment and instrument providers.

Competitor Insights

Some of the key players operating in the near-infrared spectroscopy market are Bruker, Oxford Instruments, PerkinElmer Inc., Brainbox Ltd., Thermo Fisher Scientific Inc., Galaxy-Scientific, ABB, Metrohm AG, Malvern Panalytical Ltd., and KPM Analytics.

Major companies are implementing a variety of strategies, including establishing distribution channels, expanding regionally, and forming strategic alliances, to increase their market position in diverse sectors.

• For instance, ABB stated in February 2022 that it will provide the MB3600 Fourier transform NIR spectrometer for analysing and identifying basic components in cement. The National Natural Science Foundation of China provided funding for the study. Such initiatives enable the entry of the same product into various markets at a low cost.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, type, and application from 2023 to 2033.

Report Scope:

Segmentation: Near-infrared Spectroscopy Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Fourier Transform Based (FT-NIR) Spectrometers
• Dispersive Infrared Spectroscopy

Type (Revenue, USD Million), 2022 – 2033

• Portable
• Benchtop

Application (Revenue, USD Million), 2022 – 2033

• Astronomical Spectroscopy
• Medical Applications
• Agriculture
• Material Science
• Remote Monitoring
• Industrial Use
• Particle Measurement

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA