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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
Questions Answered in the Fourier Transform Infrared Spectroscopy Report
Key Market Segments
Key Market Players