Fourier transform infrared (FT-IR) spectroscopy is a technique used to obtain the infrared spectrum of emission, absorption, and photoconductivity of solids, liquids, and gases. An FT-IR spectrometer is used to collect high-resolution spectral data over a wide spectral range. Hence, FT-IR spectrometers are chosen over dispersive spectrometers which can measure intensity only over a narrow range of wavelengths at a time. FT-IR spectrometers have improved sensitivity, and can be used for microscopy & imaging, water content determination in composites & plastics, and chromatography in the pharmaceutical industry.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industry industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the FR-IR spectroscopy market.
Top Impacting factors
FR-IR spectroscopy technique has a range of applications such as food & packaging, gas analysis, environmental analysis, life science, research, oil & gas analysis, pharmaceutical, and forensics. Increase in applications of FT-IR spectroscopy acts as a key factor that boosts the growth of the global FR-IR spectroscopy market.
Rapid technological advancements in FT-IR spectroscopy have led to increased R&D activities in the field by various biotechnology and pharmaceutical companies.
In addition, implementation of stringent rules for packaging and food labeling has fueled the adoption of FT-IR spectroscopy instruments in the food industry. Food manufacturers now use the IR attenuated total reflectance technique, which helps in the rapid determination of the content of trans fat in food products.
Increase in applications of FT-IR spectroscopy in the life science and pharmaceutical industries further propels the growth of the market during the forecast period. FT-IR spectroscopy is adopted in the drug development process to screen intermediates and raw materials. Furthermore, it is used in quality control processes and while preparing formulations.
However, high cost associated with the FT-IR spectroscopy instruments can impede the growth of the market. Moreover, with advancements in the design of these instruments industries, the requirement for skilled professionals for operation has increased, which acts as a restraint of the Fourier transform infrared spectroscopy market.
Key Market Trends
The most recent developments in the FT-IR field are related to the development of portable FT-IR spectroscopy instruments. These spectrometers offer maximum portability in the work area along with other advantages such as sufficient and feasible data quality. They offer quality results in partial least squares calibrations for soil organic carbon, along with pH, clay, and sand analysis in the soil.
FT-IT spectrometers are powerful tools for the analysis of solids and liquids. They further help in the analysis of pharmaceutical forms for the quantitative and qualitative analysis of drugs.
The pharmaceutical applications of IR spectroscopy involve raw material evaluation and final product analysis prior to drug inspections and market releases. However, with FT-IR spectroscopy, one can have the advantage of sensitivity while screening unknown production materials; this application has been driving the FR-IR spectroscopy market growth significantly.
Furthermore, FT-IR spectroscopy has found its applications in police departments, drug enforcement agencies, and customs laboratories, as it can help in identifying crime scene evidence, illegal drugs, banned materials, and counterfeit goods. This allows the forensic scientists to give expert testimonies.
Key Benefits of the Report
- This study presents the analytical depiction of the Fourier transform infrared spectroscopy industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the Fourier transform infrared spectroscopy market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Fourier transform infrared spectroscopy market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Fourier Transform Infrared Spectroscopy Report
- Which are the leading players active in the Fourier transform infrared spectroscopy market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the Fourier transform infrared spectroscopy market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What is Fourier transform infrared spectroscopy?
- What is the Fourier transform infrared spectroscopy market prediction in the future?
- What are the current trends and predicted trends?
Fourier Transform Infrared (FT-IR) Spectroscopy Market Report Highlights
By End User
Key Market Players
Bruker, MKS Instruments, Thermo Fisher, Beijing Beifeng Ruili Analytical Instruments Co., Ltd., Perkin Elmer, JASCO Corporation, Agilent, TIANJIN GANGDONG SCI TECH. CO. LTD., Jiangsu Skyray Instrument Co., Ltd., Shimadzu