(PharmaNewsWire.Com, May 15, 2021 ) The report "UV/Visible Spectroscopy Market by Instrument Type (Single-Beam, Dual-Beam), Application (Academic Application, Industrial Application), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes) - Global Forecast to 2025", the Visible Spectroscopy Market is expected to reach USD 1.2 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 4.7%.
The Growth in UV Spectroscopy market is mainly driven by factors such as application of UV/visible spectroscopy in environmental screening, growing use of UV/visible spectroscopy in the pharmaceutical & biotechnology industry, technological advancements, and the increasing need for food analysis.
Dual-beam Systems segment is expected to account for the largest share of the UV/visible Spectroscopy instrument type market.
On the basis of instrument type, the UV/visible Spectroscopy market is segmented into dual-beam systems, single beam systems, array-based systems and handheld systems. In 2019, the dual-beam systems segment accounted for the largest share of the UV/visible spectroscopy market. This segment is also projected to register the highest CAGR during the forecast period. Dual-beam systems enable a high level of automation in data collection. Such advantages offered by dual-beam systems are supporting its increased adoption in the UV/visible spectroscopy market.
Geographical View in-detailed:
North America is expected to dominate the global the UV/visible spectroscopy market in 2019, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the increasing environmental concerns, rising demand for food analysis and an increasing need to adopt technologically advanced products.
Global Key Leaders:
The major vendors in the UV/visible spectroscopy market include Shimadzu Corporation (Japan), Agilent Technologies (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US). Other players involved in this market include Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Hach Company (US), Hitachi High-Technologies Corporation (Japan), HORIBA., Ltd (Japan), Mettler-Toledo (Switzerland), Hamamatsu Photonics KK (Japan), Cole-Parmer (UK), Analytik Jena (Germany), GBC Scientific Equipment (US), JASCO Inc. (US), Buck Scientific (US), Biochrom Ltd (UK), AMETEK Process, PG Instruments Ltd (UK) and PERSEE ANALYTICS, Inc (US).
Shimadzu Corp dominated the UV/visible spectroscopy market. Shimadzu has been operating in the life science and analytical instruments business since 1875 and it operates under five business segments—Analytical Instruments, Medical Systems, Aircraft Equipment, Industrial Machinery, and Testing and Measuring Instruments. It is one of the pioneers in the field of UV/visible spectroscopy and has managed to establish a brand of its own. Product launches, strategic collaborations, and acquisitions will further augment its position in the market. Last year, Shimadzu released six new UV/visible spectrometers under a new UV-i Selection brand, further strengthening its position in the market.
Agilent Technologies was the second-largest player in the UV/visible spectroscopy market. A large part of the company’s revenue is generated from its Life Sciences and Applied Markets and Agilent CrossLab segments. The growth of the company is attributed to strategic mergers & acquisitions and improved R&D and capital expenditure. Expansions undertaken by Agilent to introduce new research and logistics bases in Asian countries are expected to further strengthen its position in this market.
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