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Raman Spectroscopy Market

Spectroscopy instruments have a wide range of applications in different segments. Its primary customers include the pharmaceutical industry, processed food industry, metal mining and chemical industry, government regulatory bodies, and others (cosmetic industry and environmental research organizations). These customers use spectroscopy equipment to analyze the compound structure, quality, and quantity of different elements, as well as the level of adulteration. This helps organizations in the R&D of new products. Due to the high growth potential in both generic and non-generic drugs markets, pharmaceutical companies are investing highly in the development of new drugs, which will further increase the demand for spectroscopy equipment during the forecast period.

Technavio’s analysts forecast the global raman spectroscopy market to grow at a CAGR of 7.28% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global raman spectroscopy market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of Raman spectrometers across applications such as life sciences, pharmaceutical, environmental, and others in the Americas, APAC, and EMEA.

The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA

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Technavio’s report, Global Raman Spectroscopy Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
• Agilent Technologies
• Bruker
• Hitachi High-Technologies
• JEOL
• PerkinElmer
• Shimadzu Corporation
• Thermo Fisher Scientific
Other prominent vendors
• FOSS
• GBC Scientific Equipment
• JASCO
• Metal Power
• Rigaku Corporation
• WATERS
Market driver
• Increased focus on drug development in healthcare industry
• For a full, detailed list, view our report

Market challenge
• High cost of ownership
• For a full, detailed list, view our report

Market trend
• Increasing demand for cloud-based spectroscopy
• For a full, detailed list, view our report

Key questions answered in this report
• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

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You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

Technavio Announces the Publication of its Research Report – Global Raman Spectroscopy Market 2017-2021
Technavio recognizes the following companies as the key players in the global raman spectroscopy market: Agilent Technologies, Bruker, Hitachi High-Technologies, JEOL, PerkinElmer, Shimadzu Corporation, and Thermo Fisher Scientific.

Other Prominent Vendors in the market are: FOSS, GBC Scientific Equipment, JASCO, Metal Power, Rigaku Corporation, and WATERS.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing demand for cloud-based spectroscopy. Cloud-based spectroscopy is considered to be the next-generation spectroscopy. Scanners, smartphones, and cloud-based data are used in this technique. Tellspec, one of the prominent providers of cloud-based spectroscopy, has developed a handheld food scanner that connects to a smartphone, as well as a cloud-based database, to apprise the user about the levels of chemicals, allergens, calories, nutrients, and the ingredients present in any food item. Tellspec’s food scanner technology is based on near infrared spectroscopy. However, cloud-based spectroscopy model for Raman spectroscopy is expected to be offered by companies during the forecast period.”

According to the report, one of the major drivers for this market is Increased focus on drug development in healthcare industry. The pharmaceutical industry is experiencing high R&D expenditure year-over-year. Raman spectroscopy is used extensively in the R&D in the pharmaceutical industry for testing and new drug discovery. This will drive the demand for Raman spectrometers across the globe.

Further, the report states that one of the major factors hindering the growth of this market is High cost of ownership. One of the major challenges for vendors in the market is the high cost incurred in the R&D of atomic spectroscopy. The development process of spectroscopy consists of the designing, testing, and implementation stages. The development of atomic spectroscopy begins with the establishment of technology platforms and then advances to the design of specific applications, followed by the development and intensive testing processes. Hence, the process is lengthy, expensive, and time-consuming. Costs are added on because of the technology used and requirement for highly skilled specialists. Small companies and CROs might be deterred by these costs. These costs are passed on to customers, which increases the acquisition cost of the equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://www.technavio.com/report/global-raman-spectroscopy-market

Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- https://www.technavio.com/industries/embedded-systems
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Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.

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