The growth of the global UV Visible Spectroscopy Market can be attributed to factors such as hospital budget cuts, a large inventory of used or old medical devises, rising demand for capital-intensive diagnostic imaging equipment, e-commerce platform enhancing the ease of purchase of refurbished medical equipment, growing preference for eco-friendly products, an increasing number of diagnostic centers hospitals, and the growing opportunities in emerging economies.

Expected Revenue Growth:

[166 Pages Report] The UV/visible spectroscopy market is expected to grow from USD 1.0 billion in 2020 to USD 1.2 billion by 2025, at a CAGR of 4.7% during the forecast period. Growth in UV/visible Spectroscopy market is mainly driven by factors such as application of UV/visible spectroscopy in environmental screening, growing use of UV/visible spectroscopy in pharmaceutical biotechnology industry, technological advancements and increasing need for food analysis.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=412

UV/visible Spectroscopy Market Dynamics

Drivers: Increasing application of UV/visible spectroscopy in pharmaceutical biotechnology industry to drive market growth

The application of UV/visible spectroscopy as an analytical technique in pharmaceutical and biotechnology RD is likely to grow due to technological advancements in spectroscopy systems that have enabled high throughput screening, microvolume sampling, and software integration with instruments. Such advancements have ensured that a large number of data points can be gathered, recorded, and shared using these systems, which proves highly beneficial for RD and is a major factor driving the growth of UV/visible spectroscopy market.

Restrains : Longevity of instruments

UV/visible spectroscopy systems have a lifespan of three to five years. Thus, once the instrument is purchased, it is not regularly replaced or upgraded. This is especially noted in academic settings. The long life of these instruments limits their purchase among end users. This bottleneck is highly visible in the price-conscious Asia Pacific and RoW markets (as compared to North America and Europe). Furthermore, UV/visible spectroscopy techniques consume a lesser volume of reagents and consumables as compared to other analytical techniques, such as high-performance liquid chromatography. The longevity of instruments, coupled with the low requirement of consumables, is expected to restrain the growth of the UV/visible spectroscopy market.

Opportunities: Growing opportunities in emerging nations

As compared to mature markets such as the US and Europe, emerging markets such as China and India are expected to provide significant growth opportunities for players.

Many key industry players are strengthening their presence worldwide by establishing new facilities, RDcenters, and innovation centers. For example, in 2019, Agilent Technologies, Inc. (US) established the European RD hub for molecular spectroscopy. Shimadzu Corporation set up a new research facility at the Technology Research Laboratory in Keihanna Science City, Japan. The new facility will focus on RD and transform the delivery of innovative products. Further, in 2017, Shimadzu established an innovation center in its Asian subsidiary, Shimadzu Asia Pacific Pte. Ltd. The center enables Shimadzu scientists and university researchers in Asia and Oceania to conduct advanced RD activities.

Request for Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=243898303

North America is expected to dominate the UV/visible spectroscopy market during the forecast period

Geographically, 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.

Key Market Player

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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441