Near-infrared Spectroscopy Market Share

European Market Forecast

Near-infrared spectroscopy market in Europe is predicted to account for the largest share of 40% by 2036 impelled by the growing spending in healthcare. Among EU Member States, Germany has the greatest level of current healthcare spending, followed by France, Italy, and Spain. As a result, research institutes in the region may spend more on advanced technologies such as near-infrared spectroscopy devices, which may increase their adoption for several applications. In 2020, Germany's current healthcare spending was the largest among EU member states and was estimated at over USD 470 billion.

North American Market Statistics

The North America near-infrared (NIR) spectroscopy market is estimated to be the second largest, during the forecast timeframe led by growing applications in research activities. Near-infrared reflectance spectroscopy is being applied to a broad range of research in the region to identify the molecular components of various samples for usage in practical applications.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of near-infrared spectroscopy is evaluated at USD 591 Million.

The near-infrared spectroscopy market size was valued at USD 550.2 Million in 2023 and is projected to exceed USD 1.17 Billion by the end of 2036, expanding at over 5.9% CAGR during the forecast period i.e., between 2024-2036. Increasing demand for food across the globe and the growing popularity of minimally invasive procedures are the major factors driving the growth of the market.

Europe industry is predicted to account for the largest share of 40% by 2036, impelled by the growing spending in healthcare sector in the region.

PerkinElmer Inc., Thermo Fisher Scientific Inc., Bruker, Oxford Instruments, Brainbox Ltd., Malvern Panalytical Ltd, Galaxy-Scientific, ABB

Near-infrared Spectroscopy Market Share