Ultraviolet spectroscopy is the measure of attenuation which occurs when the light is passed through a surface or after reflection from the sample surface. These measurements can be at a single wavelength or over an extended spectrum region. Ultraviolet spectroscopy is a technique which is used in the qualitative and quantitative analysis. It can also be used in the detection of impurities and functional groups and also in detecting drugs with chromophoric reagent. It also helps in detecting the conjugation of compounds. Due to its wide applications the market of ultraviolet spectroscopy is forecasted to grow in the future.
Ultraviolet spectroscopy market is expected to grow at a high CAGR in the forecast period because of its application in the technological advancements in instrumentation, ultraviolet spectroscopy in environmental testing, growing need in the biotechnology and pharmaceutical industry, and increasing need for food analysis. Single beam ultraviolet spectroscopy is expected to have significantly large market in the ultraviolet spectroscopy market. Also, ultraviolet spectroscopy is estimated to have maximum application and adoption in the industrial segment.
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One of the major driving forces for ultraviolet spectroscopy market is the growing government institutions worldwide which are implementing strict food laws and food testing to control the level of adulteration in food. This has governed the growth of ultraviolet spectroscopy because of its application in food testing.
Other driving forces for growth of ultraviolet spectroscopy is the establishment of research and development centers in the world, and growing environmental concerns. The advancement in technology has also increased the growth of ultraviolet spectroscopy market.
Growing opportunities in emerging nations, increasing investments has created many opportunities for the growth of ultraviolet spectroscopy market.
The requirement of skilled labors and increased cost of installation and maintenance are some of the restraints in ultraviolet spectroscopy market.
The ultraviolet spectroscopy market is segmented by the type of instruments, by application and by region.
On the basis of the type of instruments used, the ultraviolet spectroscopy market is segmented into Dual-beam systems, Single-beam systems, Array-based systems, and Hand-held systems.
On the basis of the application, the ultraviolet spectroscopy market is segmented into Academic applications which are further divided into environmental sciences, physical chemistry studies and life science studies; and Industrial applications which are further segmented into production, environmental testing, life science R&D, and quality assurance or quality control.
On the basis of geographies, the market of ultraviolet spectroscopy is divided across seven regions which are; Asia Pacific excluding Japan, the Middle East and African countries, Latin America, Western Europe, North America, Eastern Europe, and Japan. North America has the highest market share in ultraviolet spectroscopy market because of the growing industrialization and advancement in technology. Asia Pacific is expected to grow at the highest CAGR in the forecast period because of emerging countries such as India, China, and Japan. Growing R&D centers in this region are increasing the growth of ultraviolet spectroscopy. Latin America and Europe are expected to have a decent market share and are at the initial stages of development. The growth in ultraviolet spectroscopy is also because of environmental pollution concerns and growing food safety.
Key Market Players:
Few of the major key players active in the ultraviolet spectroscopy market include Hatch Company (Subsidiary of Danaher Corporation), Shimadzu Corporation, Agilent Technologies Inc., Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies Inc., Jasco Inc., Hitachi High – Technologies Corp, Hamamatsu Photonics K.K, Buck Scientific, and Horiba.
Overall it can be concluded that the growth prospects of the ultraviolet spectroscopy market are promising, as adoption across most of the regional markets is set to increase in the foreseeable future, with substantial projected gains in some areas.