Near-infrared Spectroscopy Market Trends

Growth Drivers

Rising Trend of Miniaturization Techniques – The growing popularity of miniaturization techniques has led to an increase in the use of small NIR spectrometers, which has made New and previously impossible NIR spectroscopy applications. In addition, these spectrometers can be used in isolated areas for quick on-site analysis, as they are adaptable, and precise equipment.
Growing Sales of Semiconductor – This may increase the demand for near-infrared (NIR) spectroscopy since it is useful in evaluating semiconductor manufacturing equipment such as wafers, and thin films to ensure effective performance and reduce wastage.
Global semiconductor sales totaled over USD 580 billion USD in 2022.

Challenges

Exorbitant Cost of NIR Instruments – To meet the high performance standards a NIR device is made up of advanced components. These components require high-quality materials which are expensive to manufacture. This, as a result, increases the overall cost of the device.
Incapability to Consider the Different Percentages of Brain and Extracranial Tissues in People.
Lack of Standardization

Near-infrared Spectroscopy Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	5.8%
Base Year Market Size (2024)	USD 596.91 million
Forecast Year Market Size (2037)	USD 1.24 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of triethanolamine is estimated at USD 624.61 million.

The near-infrared spectroscopy market size was over USD 596.91 million in 2024 and is anticipated to cross USD 1.24 billion by 2037, growing at more than 5.8% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for food across the globe and the growing popularity of minimally invasive procedures will boost the market growth.

Europe industry is estimated to account for largest revenue share of 40% by 2037, impelled by growing spending in healthcare sector in the region.

The major players in the market are PerkinElmer Inc., Thermo Fisher Scientific Inc., Bruker, Oxford Instruments, Brainbox Ltd., Malvern Panalytical Ltd, Galaxy-Scientific, ABB

Near-infrared Spectroscopy Market Trends