UV Spectroscopy Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UV Spectroscopy Market Analysis
The UV spectroscopy market is projected to register a CAGR of 5.1% during the forecast period (2022-2027).
The COVID-19 pandemic increased the demand for UV spectroscopy which is expected to drive the market's growth as it plays a major role in the vaccine production process. The infection rate of COVID-19 is rising exponentially across the world, which increases the need for the launch of vaccination for the rapidly spreading disease. A Northern Arizona University (NAU) research team was found developing a new test technology for SARS-CoV-2 using single-molecule surface-enhanced Raman spectroscopy (SM-SERS). The project was named 'Development of a New Test for SARS-CoV-2 Using Single-Molecule Surface-Enhanced Raman spectroscopy' and was awarded a USD 200,000 grant from the National Science Foundation's Rapid Response Research (RAPID) funding program. Therefore, with the increase in research and development activities by pharmaceuticals related to drug discovery, the demand for UV spectroscopy is consistently expected to rise over the forecast period.
Certain factors like increasing applications of Ultraviolet Spectroscopy in the pharmaceutical and biotechnology industries are expected to drive the market's growth. In Pharmaceutical Industry, Ultraviolet-Visible spectroscopy is increasingly used to detect the presence of impurities in inorganic molecules. Ultraviolet-Visible spectroscopy also enables microvolume sampling and automation in instrumentation, including the high throughput screening, which increases the adoption of these techniques for industrial applications.
Inventions in product design for enhanced functioning of spectroscopy are projected to boost the rate of adoption in the market. For instance, in March 2020, Shimadzu, under a UV-i Selection brand launched six new UV-VIS spectrophotometer models. The systems are convenient for use in a wider range of fields, comprising pharmaceuticals, chemicals, and academia. They offer an automated analysis of various samples, extremely user-friendly operability, and additional features to satisfy a wide spectrum of customer needs.
In addition, major manufacturers are providing solutions to academic institutions. For instance, in May 2021, PASCO Scientific announced the launch of a new UV-Vis Spectrometer which offers universities a comprehensive solution for everyday applications in spectrophotometry.
Hence, due to the above mentioned factors the market is expected to grow rapidly during the forecast period.
However, the lack of experienced professionals and longevity of Instruments are restraining the market's growth.
UV Spectroscopy Market Trends
This section covers the major market trends shaping the UV Spectroscopy Market according to our research experts:
The Pharmaceutical and Biotechnology industry Segment is Expected to Hold a Major Market Share in the UV spectroscopy Market
During the COVID-19 pandemic, the demand for UV spectroscopy will increase, resulting in the demand for UV spectroscopy as it is used extensively in the vaccine production process. Ultraviolet-visible spectroscopy is extensively used in the pharmaceutical industry for the structure elucidation of different organic molecules to determine the presence of heteroatoms or to gather information regarding the saturation state of a compound. It also finds a wide range of applications in the industries' quality assurance and quality control areas. The increase in innovations in biotechnology research and increasing focus on pharmaceutical and biotechnology companies to expand their product pipelines attribute to the growth of this segment.
As per the data published in 2022, by the Organisation for Economic Co-operation and Development (OECD), the United States will be the leading country worldwide in terms of spending on research and development, with R&A expenditure exceeding 679 billion USD. China is expected to invest about 551.1 billion USD into research and development. Therefore, the increasing gross domestic expenditure on Research and development by the biotechnology industries is expected to drive the demand for the UV spectrophotometer in the forecast period.
Additionally, The rise in the necessity for environmental monitoring contributes to the market's growth. According to an article published in the Technology Networks, published in April 2022, UV-Visible spectroscopy is a well-established analytical technique used in the development of active pharmaceutical ingredients, quantification of impurities, dissolution testing, and quantification of nucleic acids and proteins in pharmaceutical development. Therefore, the employment of ultraviolet visual spectroscopy is crucial in environmental monitoring to examine the risk factors which propel the segment's growth.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.
The United States is expected to hold a major share in the Ultraviolet-visible spectroscopy market due to the growing concern over the environment and rising demand for food analysis. The presence of a number of topmost biotechnology industries that require to employ of Ultraviolet-visible spectroscopy is also a contributing factor to the market growth in this region.
The increase in the biotechnology industries in the United States region is expected to boost the market's growth as ultraviolet visual spectroscopy plays a crucial role in industrial processes. According to the National Association of Securities Dealers Automated Quotations, in 2021, there will be over 100 biotech industries that are newly established. Thus, the demand for ultraviolet visual spectroscopy is increasing in the United States due to the increase in biotechnology industries, which is attributed to the growth of the market in this region. Also, the adoption rate of technologically advanced research equipment is accredited to the market's growth in this region.
According to the article published in the National Institute of Health 2020, spectroscopy is being widely used to detect and monitor COVID-19 cases. However, the local players have experienced an increase in research and development activities related to drug discovery against COVID-19 by various pharmaceutical companies. For instance, according to the Pharmaceutical Research and Manufacturers Association (PhRMA), the United States is the largest biopharmaceuticals market, accounting for one-third of the global market, and a world leader in biopharmaceutical R&D. The United States also has the world's most supportive domestic environment for the research, development, and commercialization of pharmaceuticals with minimal market barriers. Thus, the use of the spectroscopic technique in drug discovery and development in the United States is expected to rise over the years.
Moreover, major players in the region and increasing investments to develop cutting-edge equipment are contributing factors to regional growth.
UV Spectroscopy Industry Overview
The UV spectroscopy market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are ThermoFisher Scientific, Utech labs, Cecil instrumentation services ltd, GBC scientific equipment, Shimadzu Corporation, JASCO International Co., Ltd, Eppendorf, Analytik Jena GmbH, Biochrom Ltd, Perkin Elmier Inc., Buck Scientific instrument manufacturing company, Cole- Parmer instrument company, LLC, Danaher, and others.
UV Spectroscopy Market Leaders
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ThermoFisher Scientific
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PerkinElmer Inc
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Danher
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Shimadzu Corporation
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Eppendorf
*Disclaimer: Major Players sorted in no particular order
UV Spectroscopy Market News
- In January 2022, CRAIC technologies introduced the 2030 PV PRO UV-visible- NIR microspectrophotometer. The latest microspectrophotometer is designed to non-destructively analyze many types of microscopic samples from the deep ultraviolet to near-infrared.
- In December 2021, Agilient Technologies Inc. announced that the Agilient Cary 3500 UV- Vis spectrophotometer is now compatible with the Agilient open lab software suite of products. The Cary 3500 UV- Vis data can now be managed, protected, and stored in a secure central database helping to meet global regulatory requirements.
UV Spectroscopy Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising application of Ultraviolet-spectroscophy in pharamecutical and biotechnology industries.
4.2.2 Technological advancements
4.3 Market Restraints
4.3.1 Lack of experienced professional
4.3.2 Longevity of Instruments
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Instrument
5.1.1 Single-Beam
5.1.2 Dual Beam
5.1.3 Array- Based Systems
5.2 By Application
5.2.1 Academic
5.2.2 Industrial
5.2.3 Environmental studies
5.3 By End Users
5.3.1 Pharmaceutical and Biotechnology Industries
5.3.2 Academic and Research Institutions
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ThermoFisher Scientific
6.1.2 Utech Labs
6.1.3 Cecil Instrumentation services Ltd
6.1.4 GBC Scientific equipment
6.1.5 Shimadzu Corporation
6.1.6 Eppendorf
6.1.7 Analaytik Jena GmbH
6.1.8 Biochrom Ltd
6.1.9 Perkin Elmier Inc.,
6.1.10 Buck scientific Instrusment manufacturing company
6.1.11 Cole- Parmer instrument company LLC
6.1.12 Danher
- *List Not Exhaustive
6.2 MARKET OPPORTUNITIES AND FUTURE TRENDS
UV Spectroscopy Industry Segmentation
As per the scope of this report, Ultraviolet-visible spectrometry refers to absorption spectroscopy that utilizes light in the visible spectral ranges, thereby measuring the absorption of ultraviolet radiation due to interaction with a sample. The UV spectroscopy market is segmented by Instrument (Single beam, Double beam, Array-Based systems) By Application(Academic, Industrial and Environmental Studies), By End User (Pharmaceutical and biotechnology industries, academic and research institutions), Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major global regions. The report offers the value (in USD million) for the above segments.
| By Instrument | |
| Single-Beam | |
| Dual Beam | |
| Array- Based Systems |
| By Application | |
| Academic | |
| Industrial | |
| Environmental studies |
| By End Users | |
| Pharmaceutical and Biotechnology Industries | |
| Academic and Research Institutions |
| Geography | ||||||||
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UV Spectroscopy Market Research FAQs
What is the current Global UV Spectroscopy Market size?
The Global UV Spectroscopy Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Global UV Spectroscopy Market?
ThermoFisher Scientific, PerkinElmer Inc, Danher , Shimadzu Corporation and Eppendorf are the major companies operating in the Global UV Spectroscopy Market.
Which is the fastest growing region in Global UV Spectroscopy Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global UV Spectroscopy Market?
In 2024, the North America accounts for the largest market share in Global UV Spectroscopy Market.
What years does this Global UV Spectroscopy Market cover?
The report covers the Global UV Spectroscopy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global UV Spectroscopy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global UV Spectroscopy Industry Report
Statistics for the 2024 Global UV spectroscopy market market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global UV spectroscopy market analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
