Global Near Infrared Spectroscopy (NIRS) Analyzers Market Size By Product Type (Hand Held, Bench Top), By Technology (Dispersive Infrared Spectroscopy, Fourier Transform Infrared (FT-IR) Spectroscopy), By Application (Pharmaceutical, Chemical), By Geographic Scope And Forecast

Near Infrared Spectroscopy (NIRS) Analyzers Market Size And Forecast

Near Infrared Spectroscopy (NIRS) Analyzers Market size was valued at USD 181.37 Million in 2024 and is projected to reach USD 300.17 Million by 2031, growing at a CAGR of 6.50% from 2024 to 2031.

NIRS is used in conjunction with an MRI scan to create an alternative model for more intricate details. For neural scans, NIRS is a portable and relatively inexpensive device. All of these factors are driving the growth of the Global Near Infrared Spectroscopy (NIRS) Analyzers Market during the forecast period. The Global Near Infrared Spectroscopy (NIRS) Analyzers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Near Infrared Spectroscopy (NIRS) Analyzers Market Definition

NIRS stands for Near-Infrared Reflectance Spectroscopy, which is a technique that uses the electromagnetic spectrum’s near-infrared region. The base of near-infrared spectroscopy is molecular overtone and combination vibrations. NIRS reflectance spectra can be used to quickly determine a material’s chemical and physical properties by measuring the angle of light scattered off through a given sample without contaminating it. NIRS is mainly composed of a source, a detector, and a prism which enables the intensity at various wavelengths to be recorded. Near-Infrared Reflectance Spectroscopy (NIRS) analyzers are widely used in research, industrial process applications, and medical and physiological diagnostic purposes.

Global Near Infrared Spectroscopy (NIRS) Analyzers Market Overview

The Global Near Infrared Spectroscopy (NIRS) Analyzers Market is expected to experience remarkable growth in the upcoming years owing to the special features of NIRS such as very short penetrating distance, highly flexible, more powerful, cost-effective, and less energy-consuming which are driving the growth of Global Near Infrared Spectroscopy (NIRS) Analyzers Market significantly. NIRS operates in the presence of interfering substances such as glass, plastic, or acrylic, which makes it more suitable for use with a wide range of transparent sample containers. NIRS is used in conjunction with an MRI scan to create an alternative model for more intricate details.

For neural scans, NIRS is a portable and relatively inexpensive device. All of these factors are fueling the growth of the Global Near Infrared Spectroscopy (NIRS) Analyzers Market during the forecast period. Moreover, the increasing use of process analyzers in drug safety and rising demand for process analyzers in emerging economies such as India and China are expected to offer lucrative opportunities to the market players in the Global Near Infrared Spectroscopy (NIRS) Analyzers Market throughout the forecast period. However, high scattering levels, the occurrence of false readings, the lack of skilled professionals to operate these devices in an accurate manner, and the high maintenance cost of installed analyzers are impeding the growth of the market over the forecast period.

Global Near Infrared Spectroscopy (NIRS) Market Segmentation Analysis

The Global Near Infrared Spectroscopy (NIRS) Market Is Segmented On The Basis Of Product Type, Technology, Application, and Geography.

Near Infrared Spectroscopy (NIRS) Analyzers Market, By Product Type

• Hand Held
• Bench Top

Based on Product Type, The market is bifurcated into Hand-Held and Bench Top. The hand-held segment accounts for the highest revenue share of the Global Near Infrared Spectroscopy (NIRS) Analyzers Market in 2020 and is expected to dominate the market over the forecast period owing to their wide applications in the pharmaceutical industry to authenticate pharmaceutical formulations. In addition, these devices are powerful, cost-effective, compact, simple, and robust with an ergonomic design that provides advantages for online, non-destructive, or in-situ analysis, these factors are driving the growth of this segment.

Near Infrared Spectroscopy (NIRS) Analyzers Market, By Technology

• Dispersive Infrared Spectroscopy
• Fourier Transform Infrared (FT-IR) Spectroscopy

Based on Technology, The market is bifurcated into Dispersive Infrared Spectroscopy and Fourier Transform Infrared (FT-IR) Spectroscopy. The Fourier Transform Infrared (FT-IR) Spectroscopy segment is expected to hold the largest revenue share of the market due to its wide applications across various end-use industries owing to its improved sensitivity and speed. This technology is used for the analysis of both inorganic and organic compounds, to confirm the composition of solids, liquids, and gases. It is also used to give complex information in association with Rheometry and TGA devices. Fourier Transform Infrared (FT-IR) spectroscopy is extensively used in the research fields of chemistry, biology, geology, and materials which boosts its demand in the forecast period.

Near Infrared Spectroscopy (NIRS) Analyzers Market, By Application

• Pharmaceutical
• Chemical
• Agriculture
• Others

Based on Application, The market is bifurcated into Pharmaceutical, Chemical, Agriculture, and Others. The pharmaceutical segment is expected to hold the largest revenue share of the Global Near Infrared Spectroscopy (NIRS) Analyzers Market during the forecast period owing to wide applications of NIRS analyzers in the pharmaceutical industry to authenticate pharmaceutical formulations. Also, rising awareness regarding the usage of these devices to avoid selling or buying fake drugs is driving the growth of the Global Near Infrared Spectroscopy (NIRS) Analyzers Market in the pharmaceutical segment during the forecast period.

Near Infrared Spectroscopy (NIRS) Analyzers Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Near Infrared Spectroscopy (NIRS) Analyzers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounts for the largest revenue share in the Global Near Infrared Spectroscopy (NIRS) Analyzers Market in 2020 and is expected to retain its dominance throughout the forecast period. The revenue growth in the North American market is mainly attributed to rising the adoption of advanced technologies, increasing investments in R&D to develop innovative spectroscopy analyzers, and high expenditure on healthcare in the region.

Additionally, the increasing prevalence of chronic diseases and the huge presence of key market players in near-infrared spectroscopy analyzers are driving the regional market growth. The market in the Asia Pacific is projected to witness expansion at a significant growth rate during the forecast period, owing to rising disposable income, increasing expenditure to improve healthcare infrastructure, rising prevalence of chronic diseases, and growing concerns regarding counterfeit drugs in countries in the region.

Key Players

The “ Global Near Infrared Spectroscopy (NIRS) Analyzers Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Thermo Fisher, Foss A/S, Bruker, PerkinElmer, Buchi Labortechnik, Unity Scientific, ABB, Agilent Technologies, Shimadzu, and Guided Wave.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2021, KPM Analytics signed a multi-year license agreement with AB Vista, the feed additives division of AB Agri Limited. The agreement strengthened both the companies’ customization, calibration, development, and support activities. It is expected that this partnership will help KPM Analytics to expand its calibration options and assistance programs for its Unity SpectraStar NIR Analyzers.
• In March 2020, ABB Ltd. introduced a series of color-coded sensors which makes it convenient to choose and manage the optimal pH measurement solution. These sensors will assist in the more effective analysis of water’s pH level.
• In March 2020, TrinamiX GmbH, a BASF SE company, unveiled a mobile near-infrared (NIR) spectroscopy solution. Aside from laboratory and industrial uses, the company offers spectroscopy that is both affordable and accessible. TrinamiX integrates all of the qualities of a handheld device, such as precise data and material analytics, mobile and sturdy technology, and strong chemical and molecular expertise, into a single handheld device

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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