UV/Visible Spectroscopy Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The global UV/visible spectroscopy market is projected to reach USD 1.2billion by 2025 from USD 1.0billion in 2020 at a CAGR of 4.7%. Growth in UV/visible Spectroscopy market is mainly driven by factors such as application of UV/visible spectroscopy in environmental screening, growing use of UV/visible spectroscopy in pharmaceutical & biotechnology industry, technological advancements and increasing need for food analysis.

On the basis of instrument type, the UV/visible Spectroscopy market is segmented into dual-beam systems, single beam systems, array-based systems and handheld systems. In 2019, the dual-beam systems segment accounted for the largest share of the UV/visible spectroscopy market. This segment is also projected to register the highest CAGR during the forecast period. Dual-beam systems enable a high level of automation in data collection. Such advantages offered by dual-beam systems are supporting its increased adoption in the UV/visible spectroscopy market.

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The Final Report will cover the impact analysis of COVID-19 on this industry: UV/Visible Spectroscopy Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis – Global Forecast to 2025

On the basis of application, the UV/visible spectroscopy market is segmented into academic and industrial applications. The industrial applications segment accounted for the largest share of the UV/visible spectroscopy market in 2019. This is mainly due to the ease of use, flexibility, affordability, and scalability of UV/visible spectrometers. Technological advancements in instrumentation that have enabled high-throughput screening, microvolume sampling, and automation in instrumentation and software integration have also increased the adoption of this analytical technique for industrial applications.

“Pharmaceutical and Biotechnology companies is expected to account for the largest share during the forecast period.”
Based on end user segment, the market is segmented into Pharmaceutical & biotechnology companies, academic & research institutes, agriculture & food industries and Environmental testing labs. Pharmaceutical & biotechnology companies segment accounted for the largest share of the UV/visible spectroscopy market. The large share of this segment can be attributed to factors like innovations in biotechnology research and increasing focus on pharmaceutical and biotechnology companies to expand their product pipelines.

“North America is expected to dominate the UV/visible spectroscopy market during the forecast period.”
Geographically, North America is expected to dominate the global the UV/visible spectroscopy market in 2019, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the increasing environmental concerns, rising demand for food analysis and increasing need to adopt technologically advanced products.

Impact of Covid-19 Pandemic on the UV/visible spectroscopy Market:
The COVID-19 outbreak has upended many lives and businesses on an unprecedented scale. The rising prevalence of coronavirus disease has driven the demand for accurate diagnosis and treatment devices in several countries across the globe. Due to the COVID-19 outbreak, medical practices of all sizes are under immense pressure, and healthcare facilities across the globe have been overwhelmed by the large number of patients visiting them on a daily basis. Biopharmaceutical scientists and engineers are working round the clock to develop advanced biomanufacturing operations that can cater to future pandemics and outbreaks.

This has resulted in large-scale investments from government as well as private institutions in setting up more facilities with advanced technologies. Pharmaceutical & Biotechnology companies the biggest end users of the UV/visible spectroscopy market have not been affected by the Covid-19 outbreak while the growth of academic and research institutes has been hampered due to the lockdown imposed.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 74%, Tier 2 – 17%, and Tier 3 – 9%
• By Designation: C-level – 23%, Director-level – 29%, and Others – 48%
• By Region: North America – 40%, Europe – 29%, APAC – 14, and RoW – 17%

Research Coverage
This report studies the UV/visible spectroscopy market based on instrument type, application, region and end user. The report also studies factors (such as drivers, restraints, and opportunities) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the UV/visible spectroscopy market, and high-growth regions with their drivers, restraints, challenges, and opportunities. The report also covers the impact of Covid-19 on the UV/visible spectroscopy market. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

1 INTRODUCTION 25
1.1 OBJECTIVES OF THE STUDY 25
1.2 MARKET DEFINITION 25
1.3 MARKET SCOPE 26
1.3.1 MARKETS COVERED 26
1.3.2 YEARS CONSIDERED FOR THE STUDY 27
1.4 CURRENCY 27
1.5 LIMITATIONS 27
1.6 STAKEHOLDERS 28
1.7 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.2 RESEARCH METHODOLOGY STEPS 29
FIGURE 1 RESEARCH METHODOLOGY: GLOBAL UV/VISIBLE SPECTROSCOPY MARKET 29
FIGURE 2 RESEARCH DESIGN 30
2.2.1 SECONDARY DATA 31
2.2.1.1 Key data from secondary sources 31
2.2.2 PRIMARY DATA 32
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 32
2.2.2.1 Primary sources 33
2.2.2.2 Key insights from primary sources 33
2.3 MARKET SIZE ESTIMATION METHODOLOGY 34

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