The global UV/Visible Spectroscopy Market is expected to be valued at USD 1.49 billion by 2028 from USD 1.00 Billion in 2020, registering a CAGR of 5.1% during the forecast period. The increasing applications of UV/visible spectroscopy in the biopharmaceutical sector, in RD activities, and technological developments in the instrument are the key elements contributing to the growth of the market. The escalating demand for testing and screening of compounds in the pharmaceutical and food and beverage industry are other major factors projected to propell the industry’s progress in the forecast timeframe.
UV/Visible spectroscopy is an advanced analytical technique that can provide quantitative data on the number of analytes present in the compound based on the amount of light it absorbs. It is extensively used in chemistry to determine the presence of various analytes such as biological macromolecules, organic compounds, and transition metal ions. It generally requires lesser sample volumes, is highly sensitive and efficient, and provides accurate estimations. These characteristics are boosting the adoption of UV/visible spectrometers in the pharmaceutical and food and beverages industry, thereby adding to market growth.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Agilent Technologies, Shimadzu Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Cole-Parmer, Hitachi High-Technologies Corporation, Bruker Corporation, Buck Scientific, Mettler-Toledo, and GBC Scientific Equipment, among others.
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global UV/Visible Spectroscopy market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
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Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Instrument Outlook (Revenue, USD Billion; 2018-2028)
- Single-Beam
- Dual-Beam
- Array-Based Systems
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Academic
- Industrial
- Environmental Studies
- Others
End-User Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical and Biotechnology Organizations
- Academic and Research Institutions
- Others
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