Near-Infrared Spectroscopy Market Size 2024-2028

The near-infrared (NIR) spectroscopy market size is estimated to increase by USD 698.9 million at a CAGR of 13.59% between 2023 and 2028. Market expansion hinges on escalating food safety concerns, broader utilization of non-invasive methodologies across sectors, and the expanding application of NIRS in medical diagnosis. These factors drive demand for Near-Infrared Spectroscopy (NIRS) technologies. However, challenges persist, including the elevated expenses associated with NIRS devices, the heightened risk of calibration inaccuracies, and the growing stringency of regulatory requirements for NIRS implementation. Despite these obstacles, the benefits of NIRS, such as rapid and accurate analysis, continue to propel its adoption. To address challenges, manufacturers are innovating to reduce device costs and enhance calibration accuracy. Regulatory bodies are also working to establish clear guidelines for NIRS usage, ensuring its reliability and safety. As food safety concerns intensify and the need for non-invasive diagnostics grows, the NIRS market is poised for continued expansion.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

By Product

The market share growth of the benchtop segment will be significant during the forecast period. Benchtop devices are used for fast and accurate measurements of different properties of samples. They also provide a safe lab environment and eliminate errors commonly associated with manual methodologies due to factors such as high repeatability and accuracy of measurements. These factors will facilitate segment growth during the forecast period.

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The benchtop segment was the largest and was valued at USD 245.30 million in 2018. End-user industries such as pharmaceutical and biomedical, food and beverage, chemical, and agriculture will demand benchtop devices due to features such as multiple determination of sample compositions and rapid separation probes for optimized measurement of solids and liquids. The features will benefit end-user industries by minimizing laboratory analysis time and replacing routine tests, as the devices can analyze multiple samples simultaneously. Such benefits of the benchtop model will directly contribute to the growth of the market during the forecast period.

By Region

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing need for NIRS devices for various end-users, such as the agriculture, food and beverage, and pharmaceutical and biomedical industries, is contributing to the growth of the market in this region. Consolidation in the food processing industry, coupled with increasing plant sizes, is benefitting large food and beverage companies. Such companies are increasingly using NIRS devices for quality control, wherein researchers use NIRS to determine the molecular components of different samples for use in practical applications. Researchers will further test the use of NIRS devices for newer applications previously unexplored, thereby significantly contributing to the growth of the market during the forecast period.

Market Dynamics and Customer Landscape

The market is witnessing substantial growth driven by its diverse applications across various industries, particularly in biotechnology, crime detection, cosmetics, pharmaceuticals, and petrochemicals. NIRS technology, a non-destructive analytical technique operating in the near-infrared region of the electromagnetic spectrum, enables rapid and accurate analysis of chemical composition, structure, and properties of substances. In the pharmaceutical industry, NIRS is increasingly utilized by pharmaceutical and nutraceutical manufacturers for quality control, particularly in detecting counterfeit pharmaceuticals.

Additionally, regulatory bodies are increasingly endorsing the use of NIRS technology for authentication purposes. Moreover, the versatility of NIRS, offered in both benchtop and portable types, further enhances its applicability across different sectors, driving market growth. As the demand for efficient and reliable analytical techniques continues to rise, the Near Infrared Spectroscopy market is poised for further expansion in the coming years. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The surge in food safety concerns is a key driver propelling the growth of the market. With stringent regulations in the food and beverage industry, there's a constant need to ensure food quality and safety. NIRS technology is extensively utilized for assessing various properties of fruits and vegetables, including fiber, protein, and fat content, without the need for sample preparation. Its benefits, such as rapid measurement, minimal alteration of food properties, and cost-effectiveness, make it a preferred choice. Additionally, NIRS is employed for detecting adulteration in food products, aiding in food safety surveillance efforts. This escalating focus on food safety evaluation and control is anticipated to drive the global NIRS market's growth throughout the forecast period.

Significant Market Trends

The evolution of miniature NIR spectrometers is the primary trend in the market. The progress in miniaturization techniques is increasing the use of miniature NIR spectrometers. Such instruments are increasingly used for rapid and non-destructive testing of raw materials in warehouses. They reduce the time and cost needed for taking samples to laboratories and quarantining incoming raw materials until the completion of lab testing. The absence of moving parts in such devices also leads to longer life and higher durability.

Viavi Solutions Inc. MicroNIR spectrometer provides flexibility in the installation and scalability of NIRS solutions due to its small form. The MicroNIR OnSite and MicroNIR PAT are increasingly used in the chemical, food manufacturing, and pharmaceutical and biomedical industries for online and at-line process monitoring and control. Therefore, such instruments are growing rapidly due to newer applications and implementations in the NIRS market during the forecast period.

Major Market Challenge

The high cost of NIRS devices is the major challenge in the market. Technological advances are increasing the cost of NIRS devices. These devices have advanced embedded components such as polarization interferometers and gray filters for optimum resolution and wavelength accuracy. They have the ability to penetrate the surface and physical structure of the object and retrieve information about the inner composition in the form of a spectrum. This facilitates accurate and detailed object identification. 

The optic accessories and sampling tools for NIR devices help streamline processes by testing and controlling the quality of liquid, solid, and powder materials. Therefore, technological advances in NIRS hardware, integrated with electronic devices such as tablets and smartphones, are increasing the cost of the product.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd. - The company offers infrared spectroscopy such as FT-IR and FT-NIR. The process automation segment focuses on manufacturing and selling drives, motors, generators, traction converters, and mechanical power transmission products.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• BUCHI Labortechnik AG
• FOSS AS
• Hamamatsu Photonics KK
• Lumex Instruments
• Metrohm AG
• Ocean Insight
• PerkinElmer Inc.
• Polytec GmbH
• Sartorius AG
• Shimadzu Corp.
• Thermo Fisher Scientific Inc.
• Viavi Solutions Inc.
• Zeltex LLC
• ZEUTEC

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments. 

• Product Outlook
  • Benchtop
  • Portable

• End-user Outlook
  • Pharmaceutical and biomedical industry
  • Food and beverage industry
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina

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Market Analyst Overview

The market is experiencing robust growth driven by advancements in technology and its diverse applications across various industries. From chemicals to pulp and paper and polymer manufacture, NIR spectroscopy aids in quality control and process optimization. Its role in insect detection for the agriculture industry and forensic lab applications underscores its versatility. In the food and beverage business and pharmaceutical producers, NIR spectroscopy ensures adherence to Good Manufacturing Practices (GMP), promoting product safety and personalized medicine. With user-friendly instruments and data processing capabilities, NIR spectroscopy enables healthcare professionals to monitor chronic diseases and assess brain function. Moreover, its applications in precision agriculture and smart farming enhance productivity in low- and middle-income nations, aligning with the goals of personalized nutrition and environmental monitoring. Leveraging artificial intelligence and machine learning techniques, the NIR spectroscopy market continues to evolve, promising innovative solutions for various industries.

in addition, industries like palm oil production and food and agriculture utilize NIR spectroscopy for quality control and food authentication, ensuring product integrity. In modern healthcare facilities, NIR spectroscopy aids in the monitoring of diseases and assessment of brain function through applications such as tissue oxygenation and imaging of brain activity. Moreover, the technology's role in chemometrics and quality control in manufacturing ensures compliance with standards. From benchtop instruments to Dispersive infrared spectroscopy, NIR spectroscopy offers versatile solutions, supported by international organizations and National Medical Stores & NDA in emerging nations. With advancements in disperse infrared spectroscopy and particle measurement, the NIR spectroscopy market continues to innovate, promising enhanced analytical capabilities for diverse applications.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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