Market Size of Global UV Spectroscopy Industry
| 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 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 |
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Global UV Spectroscopy Market Size Summary
The UV spectroscopy market is experiencing significant growth, driven by its increasing applications in the pharmaceutical and biotechnology industries. The demand for UV spectroscopy has been bolstered by its critical role in vaccine production during the COVID-19 pandemic, as well as its extensive use in drug discovery and development. The technology is particularly valued for its ability to detect impurities in inorganic molecules and facilitate microvolume sampling and automation in instrumentation. Innovations in product design, such as the introduction of new UV-VIS spectrophotometer models by companies like Shimadzu, are further enhancing the functionality and adoption of these systems across various fields, including pharmaceuticals, chemicals, and academia. Additionally, major manufacturers are expanding their offerings to academic institutions, providing comprehensive solutions for spectrophotometry applications.
The market is characterized by a competitive landscape with several key players, including ThermoFisher Scientific, Shimadzu Corporation, and PerkinElmer Inc., who are actively contributing to its growth through technological advancements and strategic partnerships. The United States is expected to hold a significant share of the market, driven by its robust biotechnology sector and substantial investments in research and development. The increasing focus on environmental monitoring and quality assurance in pharmaceutical development is also propelling market expansion. However, challenges such as a shortage of experienced professionals and the longevity of instruments may hinder growth. Despite these challenges, the market is poised for rapid expansion, supported by ongoing innovations and the rising demand for advanced analytical techniques.
Global UV Spectroscopy Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising application of Ultraviolet-spectroscophy in pharamecutical and biotechnology industries.
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1.2.2 Technological advancements
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1.3 Market Restraints
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1.3.1 Lack of experienced professional
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1.3.2 Longevity of Instruments
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Instrument
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2.1.1 Single-Beam
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2.1.2 Dual Beam
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2.1.3 Array- Based Systems
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2.2 By Application
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2.2.1 Academic
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2.2.2 Industrial
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2.2.3 Environmental studies
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2.3 By End Users
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2.3.1 Pharmaceutical and Biotechnology Industries
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2.3.2 Academic and Research Institutions
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global UV Spectroscopy Market Size 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.
