The global UV/Visible Spectroscopy Market is expected to be valued at USD 1.49 billion by 2028 from USD 1.00 Billion in 2020, registering a CAGR of 5.1% during the forecast period. The increasing applications of UV/visible spectroscopy in the biopharmaceutical sector, in R&D activities, and technological developments in the instrument are the key elements contributing to the growth of the market. The escalating demand for testing and screening of compounds in the pharmaceutical and food and beverage industry are other major factors projected to propell the industry’s progress in the forecast timeframe.
UV/Visible spectroscopy is an advanced analytical technique that can provide quantitative data on the number of analytes present in the compound based on the amount of light it absorbs. It is extensively used in chemistry to determine the presence of various analytes such as biological macromolecules, organic compounds, and transition metal ions. It generally requires lesser sample volumes, is highly sensitive and efficient, and provides accurate estimations. These characteristics are boosting the adoption of UV/visible spectrometers in the pharmaceutical and food and beverages industry, thereby adding to market growth.
Owing to the increasing demand for state-of-the-art and accurate research equipment and the subsequently growing investment in the healthcare facilities and research laboratories has boosted the development of the UV-Visible spectroscopy market. However, the lack of skilled professionals and long-term replacement plans for the equipment is estimated to hamper the industry’s growth in the projected timeline.
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For the purpose of this report, Reports and Data has segmented the global UV/Visible Spectroscopy Market based on instrument, application, end-user, and region:
Instrument Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
End-User Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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