USD 38.69 billion
Global Raman Spectroscopy Market Size, Share, Growth Analysis, By Technology(Fourier Transform Raman Spectroscopy (FT-Raman) and dispersive Raman spectroscopy), By End user(Pharmaceuticals, materials science) - Industry Forecast 2024-2031
Report ID:
SQMIG35J2073 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
62 |
Figures:
75
Global Raman Spectroscopy Market Insights
Raman Spectroscopy Market size was valued at USD 38.69 billion in 2022 and is poised to grow from USD 41.75 billion in 2023 to USD 71.08 billion by 2030, at a CAGR of 7.9% during the forecast period (2023-2030).
The global raman spectroscopy market has exhibited steady growth driven by its diverse applications across pharmaceuticals, materials science, and life sciences.
The technology's non-destructive nature, ability to analyze complex samples, and provide molecular information make it valuable for research and quality control.
Advancements in portable and handheld Raman devices have expanded field applications, while integration with AI and machine learning enhances data interpretation.
The market's growth is sustained by continuous innovations, increasing adoption in sectors like healthcare and forensic analysis, and expanding demand for quick and accurate material analysis in various industries.
US Raman Spectroscopy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceuticals
Fastest Growth
Pharmaceuticals
Growth Rate
7.9% CAGR
Global Raman spectroscopy market by region
Country Share for North America (%)
Global Raman spectroscopy market by end user
Global Raman spectroscopy market by end user
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Global Raman Spectroscopy Market Segmental Analysis
The global raman spectroscopy market can be segmented by technology, end-use, and region. In terms of technology, it includes Fourier Transform Raman Spectroscopy (FT-Raman) and dispersive Raman spectroscopy. The end-use industries encompass pharmaceuticals, materials science, life sciences, and more. Geographically, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.
Raman Spectroscopy Market Analysis By Technology
The largest segment in the raman spectroscopy market traditionally has been the Benchtop Raman Spectroscopy Systems. These systems are widely adopted in research, academic institutions, and industries where high precision and accuracy are crucial. They are often used in pharmaceuticals, chemistry, and materials science.
The fastest growing segment, as of my last update, was the Portable And Handheld Raman Spectroscopy Systems. The portability, ease of use, and rapid analysis capabilities of these systems have led to their increased adoption in various industries. They are particularly valuable in fields where on-site, real-time analysis is essential, such as pharmaceutical manufacturing, food safety, and security applications.
Raman Spectroscopy Market Analysis By End-User
The pharmaceutical and biotechnology industry was one of the largest segments in the Raman spectroscopy market. The increasing need for drug discovery and development, as well as stringent quality control regulations, drove the adoption of Raman spectroscopy.
The fastest-growing segment was likely to be medical and clinical research. The potential for non-invasive diagnostics and the ability of Raman spectroscopy to provide molecular insights into biological samples garnered significant interest in the medical field.
Global Raman spectroscopy market by end user, 2023 (%)
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Global Raman Spectroscopy Market Regional Insights
The largest market for Raman spectroscopy is often found in North America, particularly in the United States. This is due to the presence of numerous research universities, well-established industries, and a culture of innovation that drives the adoption of advanced analytical techniques.
The fastest-growing market for Raman spectroscopy is likely to be in the Asia-Pacific region. Countries like China and India have been investing significantly in research and development across various sectors. Their expanding pharmaceutical, biotechnology, and materials industries are expected to drive the demand for Raman spectroscopy solutions.
Global Raman spectroscopy market by geography, 2024-2031
- Largest
- Fastest
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Global Raman Spectroscopy Market Dynamics
Raman Spectroscopy Market Drivers
Demand from Numerous Industries
- The increasing adoption of Raman spectroscopy across various industries, including pharmaceuticals, materials science, and forensics, due to its non-destructive and rapid analytical capabilities, is propelling the growth of the global raman spectroscopy market.
Raman Spectroscopy Market Restraints
Lack of Broad Availability
- Limited sensitivity for certain sample types and high equipment costs are restraining the full potential of the global raman spectroscopy market, hindering its broader application and accessibility, especially in research and industries with budget constraints.
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Global Raman Spectroscopy Market Competitive Landscape
The global raman spectroscopy market's competitive landscape is characterized by a multitude of companies vying for prominence. Established players like Thermo Fisher Scientific, Bruker Corporation, and Horiba dominate with their extensive product portfolios and global reach. Meanwhile, innovative startups such as Renishaw and Metrohm offer specialized solutions, disrupting the market with novel technologies. The competition centers on enhancing instrument sensitivity, ease of use, and application breadth. Strategic collaborations, mergers, and acquisitions further intensify the landscape, emphasizing the industry's dynamic nature. As demand for non-destructive, label-free molecular analysis grows across sectors like pharmaceuticals, materials science, and life sciences, the market's competitive intensity continues to evolve.
Raman Spectroscopy Market Top Player’s Company Profiles
- Horiba Ltd. - Japan
- Thermo Fisher Scientific Inc. - United States
- Bruker Corporation - United States
- Renishaw plc - United Kingdom
- Agilent Technologies, Inc. - United States
- Shimadzu Corporation - Japan
- PerkinElmer, Inc. - United States
- B&W Tek, Inc. (A Metrohm Company) - United States
- Kaiser Optical Systems, Inc. (A part of Endress+Hauser) - United States
- JASCO International Co., Ltd. - Japan
- WITec Wissenschaftliche Instrumente und Technologie GmbH - Germany
- Princeton Instruments (A part of Teledyne Technologies) - United States
- Renishaw plc - United Kingdom
- BaySpec, Inc. - United States
- Enwave Optronics, Inc. - United States
- Snowy Range Instruments - United States
- Anton Paar GmbH - Austria
- Nanophoton Corporation - Japan
- Nanolive SA - Switzerland
- Cobolt AB (A part of HÜBNER Group) - Sweden
Raman Spectroscopy Market Recent Developments
- In June 2021, Thermo Fisher Scientific, Inc. invested nearly USD 1.4 billion in R&D, whereas in the same year, Agilent Technologies, Inc. introduced the new Agilent Vaya Raman raw material identity verification system.
Global Raman Spectroscopy Key Market Trends
- In the global raman spectroscopy market, key developments include rapid advancements in portable and handheld Raman devices, enhancing on-site analysis capabilities across industries like pharmaceuticals, food safety, and materials science. Integration of artificial intelligence and machine learning into Raman data analysis has improved accuracy and speed, while miniaturization of components has led to more compact and user-friendly instruments. Additionally, the market has seen collaborations between spectroscopy companies and research institutions to expand applications and develop novel techniques. Overall, these developments have driven the adoption of Raman spectroscopy for real-time, non-destructive, and precise molecular analysis on a global scale.
Global Raman Spectroscopy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global raman spectroscopy market is poised for promising growth. With applications spanning materials science, pharmaceuticals, and life sciences, Raman spectroscopy's non-destructive and molecular analysis capabilities are driving adoption. As technology advances, enabling portable and miniaturized systems, accessibility and usability will expand further. Additionally, the growing demand for rapid and accurate diagnostics, coupled with increasing research activities, is expected to fuel the market's expansion. As industries prioritize quality control and innovation, the Raman spectroscopy market's future holds potential for robust development, offering solutions for diverse analytical challenges on both research and industrial fronts.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.69 billion |
| Market size value in 2031 | USD 71.08 billion |
| Growth Rate | 7.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Raman Spectroscopy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Raman Spectroscopy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Raman Spectroscopy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Raman Spectroscopy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Raman Spectroscopy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Raman Spectroscopy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Raman Spectroscopy Market Report Snapshots
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