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Raman Spectroscopy Market size Reflect Impressive Growth Rate during 2023

The North American market for Raman spectroscopy should grow from $695.1 million in 2018 to $1.0 billion by 2023, with a compound annual growth rate (CAGR) of 7.7% from 2018 through 2023.

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Report Scope:

This report represents an in-depth analysis of the North American Raman spectroscopy markets by sampling technique, instrument type, application area and country. It discusses the different segments of Raman spectroscopy sampling techniques to derive specific market estimations. Spectroscopy sampling techniques include surface-enhanced Raman scattering, tip-enhanced Raman scattering and other Raman sampling techniques. Other sampling techniques include resonance Raman spectroscopy, hyper Raman, spontaneous Raman spectroscopy, spatially-offset Raman spectroscopy and stimulated Raman spectroscopy. The market for Raman spectroscopy by type of instrument is divided into four subsegments: probe-based Raman, Fourier transform infrared Raman, micro-Raman, and others (Raman micro-spectrophotometers, remote fiber-optic probes, dispersive Raman spectrophotometers and non-dispersive spectrophotometers). The report also forecasts the market size for Raman spectroscopy for end-use applications including life sciences, material sciences, carbon materials, semiconductors and others.

Report Includes:

– 29 tables
– Country specific data and analysis for United States, Canada and Mexico
– Regional dynamics and statistics for the Raman spectroscopy market by sampling technique, instrument type and application area
– An assessment of the widespread applications of Raman spectroscopy and the market dynamics of each application segment
– Identification of the key trends related to the applications, sampling techniques and instruments that shape and influence the Raman spectroscopy market
– Detailed description of surface enhanced Raman scattering, tip enhanced Raman scattering and other prominent Raman scattering techniques
– Comprehensive profiles of leading companies in the industry, including Bruker Corp., PerkinElmer Inc., Renishaw plc, Smiths Detection Inc., and Thermo Fisher Scientific Inc.

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Summary

The North American Raman spectroscopy technology market is experiencing substantial growth in terms of the application of Raman spectrometers in various industrial sectors such as life sciences, material sciences, carbon materials and semiconductors. Countries including the U.S. and Canada are expected to create potential space for market development in the region. Adhering to various government safety regulations for healthcare, food and beverages, and chemical industries, Raman spectroscopy techniques are widely adopted by researchers and process manufacturers in the region.

The application market for Raman spectroscopy was led by the life sciences segment in 2017 and is expected to continue to do so throughout the forecast period. This technology is not only limited to the analysis of blood samples but is also used in the analysis of cancer. The push for early diagnosis of the disease is driving market growth in the U.S., Canada and Mexico.

In the chemical sector, Raman spectroscopy is commonly used to provide a fingerprint by which molecules can be identified. Technically, Raman spectroscopy relies on Raman scattering or the inelastic scattering of monochromatic light, usually from a laser in the visible, near-infrared or near-ultraviolet range. The laser light interacts with molecular vibrations, phonons or other excitations in the system, resulting in laser photon energy being shifted up or down. This shift provides information about the vibrational modes in the system. Infrared spectroscopy yields similar but complementary information.

Probe-based Raman spectroscopy accounts for the largest share of the market in terms of instrument sales; this product segment is expected to continue to lead the market through the forecast period of 2018 through 2023. The major factor driving the market for probe-based Raman spectroscopy is the advantage it offers of being able to conduct Raman spectroscopy in real-time and easily provide information regarding the materials or samples. Probe-based Raman  spectroscopy accounted for REDACTED of the market in 2017. With advancements in technology, other types of instruments, such as micro-Raman and FT Raman, are likely to be adopted by industry for several types of applications.

In terms of sampling techniques, surface-enhanced Raman scattering (SERS) accounted for the largest market share in 2017 at REDACTED. Increasing demand for real-time analysis of samples in the harshest conditions is expected to propel demand for SERS during the forecast period. The U.S. accounted for the largest share of the market in 2017 and is expected to continue to do so throughout the forecast period. This is attributed to the well-developed infrastructure and skilled work force in the country.

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