Global near-infrared spectrum analyzer market is anticipated to witness an exponential growth in the forecast period. Factors such as increase in use of NIRS during process monitoring, technological advancement, increase in demand for quality purpose and specific tests, rise of non-invasive diagnostic techniques, increasing demand from healthcare sector, rising food safety concerns, increase in demand for nutritional evaluation of food, and rising government funding on research and development are likely to drive the market in forthcoming period.

On the other hand, the high cost of NIRS devices is anticipated to hinder near-infrared spectrum analyzer market growth in the future. However, rising uses of infrared technology are likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Near-infrared spectrum analyzer market could be explored by product type, type, application, sale channel, and geography. Market could be explored by product type as Dispersive NIR Analyzer, FT-NIR Analyzer, and Others (Filter and AOTF). Based on the type, market could span Hand Held and Bench Top. The “Bench Top” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.

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The key applications that could be explored in the near-infrared spectrum analyzer market include Food and Agriculture Industry, Polymer Industry, Oil and Gas Industry, Pharmaceutical Industry and Other. The “Pharmaceutical Industry” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market include it is used for improving the control and monitoring of pharmaceutical procedures quality assurance.

The near-infrared spectrum analyzer industry could be explored based on sale channel as Direct sale and Distributor. The “Direct Sale” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.

North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as growing uses of infrared technology, technological advancement, near-infrared imaging in the medical segment and wide-ranging use of the technology in research and development procedure. North America is followed by followed by Japan, Western Europe and in Asia Pacific region owing to an increase in demand for research process due to the economic environment and accessibility of resources.

Key players operating in the near-infrared spectrum analyzer market include Unity Scientific, Bruker, Thermo Fisher Scientific, Buchi, FOSS, Patton (PerkinElmer), ABB, Yokogawa, Agilent Technologies, Guided Wave (Advanced Group), Shimadzu, Hitachi, and ZEUTEC. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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May 16, 2019: Global near-infrared spectrum analyzer market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. A near-infrared spectrum analyzer is spectroscopic equipment that uses the near-infrared region of the electromagnetic spectrum. It is exclusively used analysis technique for the quantification of substances and identification of raw materials in industrial and research applications.

The factors that are playing a major role in the growth of near-infrared spectrum analyzer market are the rising concern related to the food safety, the high demand from end-users, development of miniature NIR spectrometers, and the rising use of enhanced technology. However, the high cost of NIRS services may restrain the overall market growth in the years to come. Near-infrared spectrum analyzer market is segmented based on type, application, and region.

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FT-NIR, dispersive NIR, and other types could be explored in near-infrared spectrum analyzer market in the forecast period. Dispersive NIR sector comprises fixed grating and scanning grating. Whereas, FT-NIR sector comprises an interferometer. Others include filter and AOTF. The market could be categorized based on applications like oil and gas, polymer industry, the pharmaceutical industry, food and agriculture industry, and others that could be explored in the forecast period.

Near-infrared spectrum analyzer market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).

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Globally, North America may account for the substantial share of a near-infrared spectrum analyzer market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the rising use of enhanced technology. The United States and Canada are the major consumers of the near-infrared spectrum analyzer in this region.

Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of near-infrared spectrum analyzer in this region.

The key players of near-infrared spectrum analyzer market are Thermo Fisher, Yokogawa Electric, PerkinElmer, Kett Electric, Agilent Technologies, Sartorius, ABB, Shimadzu, Bruker, Jasco, Foss A/S, and Buchi Labortechnik. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Near-Infrared Spectrum Analyzer in these regions, from 2012 to 2023 (forecast), covering

• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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