UV/Visible Spectroscopy Market Worth 1,163.2 Million | Technological Advancement & Increasing Need for Food Analysis

UV/Visible Spectroscopy Market

UV/Visible Spectroscopy Market UV/Visible Spectroscopy Market

PUNE, India, 2020-Jun-01 — /EPR Network/ —

The UV/Visible Spectroscopy Market is poised to reach USD 1,163.2 Million , growing at a CAGR of 4.3 % during the forecast period.

The demand for UV/visible spectroscopy systems and accessories has been on the rise due to the rising application of this analytical technique in environmental testing. The growing application in pharmaceutical and biotechnology industries, rising need of food analysis, and technological advancements in instrumentation have further spurred the demand for UV/visible spectroscopy globally.However, the array-based systems segment is expected to grow at highest CAGR. The technological advancements in the array-based systems segment enable it to offer advantages such as improved sensitivity and faster data collection.

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Market Segmentation in Depth:

Based on instrument type, the market is segmented into single-beam systems, dual-beam systems, array-based systems and handheld systems. The single-beam systems segment is estimated to account for the major share of the UV/visible spectroscopy market. These instruments are routinely used analytical instruments in clinical examination, medicine, petrochemicals, biochemistry, biotechnology, quality control, and environmental protection as they are simple and economical.

The industrial applications segment is expected to account for the largest share of the UV/visible spectroscopy market, by application. The segment is also slated to grow at highest CAGR in the forecast period. The UV/visible spectroscopy systems are routinely used in industry for several applications such as research & development, production of food & beverages, oils, paints, chemicals among others, quality assurance/quality control (QA/QC) and environmental testing. The growth of the industrial applications segment can be primarily attributed to the increasing adoption of UV/visible spectroscopy systems with enhanced capabilities (such as high throughput screening capacity, microvolume sampling, software integration, miniaturization of instruments among others) in areas of industry such as life science R&D.

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On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the UV/visible spectroscopy market. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period and serve as a revenue pocket for companies offering UV/visible spectroscopy systems and accessories. This is owing to the impetus provided by entry of key market players into this market, growing food safety and environmental pollution concerns and budding life science R&D sector in this region.

The major players in UV/visible spectroscopy market include Shimadzu Corporation (Japan), PerkinElmer Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies Inc. (U.S.) and Hach Company (subsidiary of Danaher Corporation) (U.S.).

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