Confocal Raman Spectroscopy Market REPORT OVERVIEW
- Request a Free sample to learn more about this report
The global confocal raman spectroscopy market size is predicted to value at USD 281.9 million in 2022 and market is projected to touch USD 545.02 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.6 % from 2022 to 2031.
Confocal Raman Spectroscopy combines confocal imaging and Raman spectroscopy to deliver capabilities that neither FTIR spectroscopy nor the scanning electron microscope can provide (SEM) CRM's high resolution also bridges the dimensional measuring gap that exists between the two approaches. The confocal imaging system generates a spectral image with a continuous resolution of 200 nanometers, and it can often provide important information at the 100-nanometer level.
The wavelength of scattered light is observed and measured using Raman spectroscopy, a spectroscopic technique. The vibrational energy modes of a sample are measured using the scattered light. Raman spectroscopy, in other words, is based on the interaction of light with the chemical bonds of a molecule. Raman spectroscopy, named for an Indian scientist C.V Raman, gives chemical and structural data such as chemical structure and identity, phase and polymorphism, intrinsic stress/strain, contamination and impurity.
COVID-19 Impact: Labor Shortage and Stringent Lockdown Restrictions to Hinder Industry Growth
In 2020, the COVID-19 outbreak and propagation had a detrimental impact on the confocal Raman spectroscopy market, resulting in lower shipments of Raman spectroscopy. As a result, the revenue earned by them has decreased. Therefore, the market's growth trajectory slowed significantly in the first half of 2020. This pattern persisted until the first quarter of 2021. In the second or third quarter of 2021, demand for confocal Raman spectroscopy is likely to increase as production volume and demand from pharmaceutical, life science, and material science applications increase.
LATEST TRENDS
"Technological Advancement to Foster Market Growth"
There are a number of variables that are expected to drive the global confocal Raman spectroscopy market forward. Raman spectroscopy's analytical methods are typically implemented in phases during the drug discovery and development process. This includes substance identification, atomic science examination and diagnostics, preformulating, strong structure screening, bioanalysis, late-stage drug development plan investigation, measure examination, quality control, unrefined substance capability, and fake distinguishing proof. Preformulation studies are an important part of the drug development process, and the cycle is used to better understand the physicochemical features of potential medications to prepare preclinical and clinical trials.
Confocal Raman Spectroscopy Market Segmentation
- Request a Free sample to learn more about this report
- By Type Analysis
By type, the market is segmented into Desktop Type and Portable Type.
Portable type is expected to be the leading segment because of the rise in adoption can be ascribed to the ability of portable Raman spectroscopy to provide a simple point-and-shoot format and fully portable testing with an ergonomic design.
Therefore, it offers quick solutions for unknown characterizations using integrated digital libraries and data from previously used methods. Furthermore, low-skilled workers can readily perform and operate these spectroscopies to obtain the molecular fingerprint of raw materials for pharmaceutical, life science, and materials science applications. These factors may propel industry growth.
- By Application Analysis
Based on application, it is categorized into Pharmaceuticals, R&D in Academia, and Industrial Sector.
The pharmaceuticals segment may lead the market growth because the spike in use of solid-state pharmaceutical products in both industry and academics is credited with the segment's growth.
Current pharmaceutical uses vary from drug discovery to drug manufacture, including recognizing polymorphs, monitoring real-time operations, detecting counterfeit and contaminated pharmaceutical products, and imaging solid dose formulations. These factors may fuel confocal Raman spectroscopy market growth.
DRIVING FACTORS
"Increasing Demand for Cloud-Based System to Enhance Market Expansion"
The Raman spectroscopy industry has shown remarkable growth due to rising demand and acceptance of cloud-based spectroscopy. Increased spending on research and development will provide the Raman spectroscopy market with even more attractive and remunerative growth prospects. The Raman spectroscopy market is being fueled by an increasing need for real-time analysis of samples in demanding settings, as well as rising technological improvements. The Raman spectroscopy market value will continue to rise as more emphasis is placed on macromolecular spectroscopy.
"R&D Activities to Stimulate Growth "
Understanding the drug's deterioration profile in the presence of many excipients under various stress situations is one of the most important jobs during drug development. Several studies have shown that Raman spectroscopy is the most sensitive technique for distinguishing both the molecular differences of amorphous samples prepared by different methods and the differential degradation behavior of differently prepared amorphous samples when compared to other spectroscopic techniques. For example, Raman methods like SERS have been used to investigate the autoxidation, molecular fragmentation, dimerization, and polymerization of quercetin flavonoids in an aqueous solution and on an Ag nanoparticle under alkaline circumstances. Raman spectroscopy can also be used to characterize the microstructure of drug delivery systems and to better understand drug–excipient interactions in the body.
RESTRAINING FACTORS
"High Costs to Impede Market Growth"
The high costs associated with Raman spectroscopy installation, on the other hand, would represent a significant temporal obstacle to the market's growth rate. The high costs of Raman spectroscopy research and development will further stifle the market's expansion. The Raman spectroscopy market will be further slowed by a scarcity of skilled/trained personnel or a lack of technological expertise, particularly in developing and developing nations.
Confocal Raman Spectroscopy Market REGIONAL INSIGHTS
- Request a Free sample to learn more about this report
"Rising Per-capita Income and Rising Pharmaceutical Sector to Fuel Industry Development in Asia-Pacific"
Asia Pacific is expected to dominate the confocal Raman spectroscopy market share. The increased need for pharmaceutical, life science, and materials science applications in nations like China, Japan, South Korea, and India can be ascribed to this growth. Furthermore, the presence of a high number of pharmaceutical and life science firms and contract manufacturing organizations (CMOs) in the region is propelling the market forward. Governments' active participation in improving healthcare infrastructure, rapid urbanization, rising GDP in emerging markets, and support provided by governments and several companies to expand the pharmaceuticals and life sciences industries in developing countries in the region are all factors contributing to the market's growth in the region.
North America now dominates the confocal Raman spectroscopy market, and this dominance is expected to continue during the projected period. This is due to the high demand for oil shale reserves exploration and mineral and gas identification. Another factor driving market growth in this region is the expansion and growth of the petroleum and petrochemical industries.
KEY INDUSTRY PLAYERS
"Manufacturers Focus on R&D Activities to Strengthen their Position"
The confocal Raman spectroscopy market is rather competitive. New businesses are anticipating entering the market as molecular spectroscopy's uses expand. Mergers, acquisitions, joint ventures, partnerships, and collaborations are all actions that the players are participating in. These activities contribute to the growth of the molecular spectroscopy market by boosting the impact of companies in the industry.
INDUSTRY DEVELOPMENT
Agilent Technologies Inc. unveiled the Agilent Vaya Raman raw material identity verification system in April 2020. This is a portable equipment used in the pharmaceutical and biopharmaceutical sectors to speed up quality control tests.
List of Market Players Profiled
- Horiba Jobin Yvon
- Renishaw
- Thermo
- B&W Tek
- Bruker
- Kaiser Optical
- Ocean Optics
- Smiths Detection
- JASCO
- Sciaps
- TSI
- Agilent Technologies
- Zolix
- GangDong
REPORT COVERAGE
This report covers the entire scope of the market research for the confocal Raman spectroscopy. The report's market estimations are based on extensive secondary research, primary interviews, and in-house expert reviews. These market estimations were derived by analyzing the impact of different social, political, and economic factors and current market dynamics on the growth of the industry.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 281.9 Million in 2022 |
Market Size Value By |
US$ 545.02 Million by 2031 |
Growth Rate |
CAGR of 7.6% from 2022 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
-
What value is the confocal raman spectroscopy market expected to touch by 2031.
Based on our research, the confocal raman spectroscopy market is projected to touch USD 545.02 million by 2031.
-
What CAGR is the confocal raman spectroscopy market expected to exhibit.
The confocal raman spectroscopy market is expected to exhibit a CAGR of 7.6%.
-
Which are the driving factors of the confocal raman spectroscopy market.
Increasing demand for cloud-based systems and R&D activities are the factors driving the market.
-
Which are the top companies operating in the confocal raman spectroscopy market.
Horiba Jobin Yvon, Renishaw, Thermo, B&W Tek, Bruker, Kaiser Optical, Ocean Optics are the top companies operating in the confocal raman spectroscopy market.
