Process Spectroscopy Market Size & Share 2016 - 2024
Market Size by Technology (NIR, FT-IR, Raman), by Application (Polymer, Oil and Gas, Pharmaceuticals, Food & Agriculture, Chemical), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, & Forecast.
Report ID: GMI716
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Published Date: August 2016
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Report Format: PDF
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Authors:
Suraj Gujar, Ankita Chavan
Process Spectroscopy Market Size
Process Spectroscopy Market size was valued at over USD 800 million in 2015, and is anticipated to grow over 6.5% CAGR from 2016 to 2024.
Process analytical technology (PAT) is a mechanism that designs, analyzes, and controls manufacturing through measuring parameters that affects critical quality attributes. Food and Drug Administration (FDA) formulated the PAT framework with an aim to ensure high quality performance. This has led to adoption across U.S. pharmaceutical companies. Regulatory bodies across the globe may implement such policies over the forecast period. U.S. process spectroscopy market size is expected to witness potential impact of this framework over the next eight years.
Companies are focusing to reduce variable expenditure by minimizing the re-work and errors. This equipment enables monitoring and control effectively & efficiently and also checks quality, which in turn will drive process spectroscopy market share over the forecast timeframe. Increasing competition has led to companies lowering the price and raising quality to gain competitive advantage. Growing awareness regarding importance of these devices among industries is forecast to drive demand. Companies with ineffective process control face numerous problems such as high production and inventory time, visual defects, which is likely to hamper brand image.
Effective implementation offers benefits such as consumer satisfaction, low production cost & inspection cost, efficient utilization of resources, and increased sales. High capital investment coupled with deficiency of skilled labor will negatively impact the production rate. Emergence of cost effective technologies is anticipated to lead in price reduction. Timely consultant intervention is predicted to smoothen the integration process and ensure the best possible return on investment.
Process Spectroscopy Market Analysis
NIR technology segment accounted for over 60% of the overall process spectroscopy market share in 2015 and is likely to grow at over 6% CAGR from 2016 to 2024. Growth in the sector can be attributed to rising application in numerous sectors such as quality monitoring, food industry, biogas plants, plastics identification in chemical industry and controlling paper production.
Fourier Transform Infrared (FT-IR) was valued at over USD 170 million in 2015 and is projected to account for over 20% of the overall industry share by 2024. Escalating use of this technology in identification as well as assessment of numerous materials, chemicals & compounds such as particulates, residues, fibers, chemical warfare agents, pesticides and narcotics may propel industry demand over the next few years.
Presence of key industry participants and stringent quality standards in pharmaceuticals, healthcare, and food & agriculture sector is expected to fuel U.S. process spectroscopy market size. Asia Pacific revenue share will grow at 8% CAGR from 2016 to 2024. Industry participants are increasingly relocating research and development along with manufacturing activities owing to presence of cheap labor and resources to reduce cost. This is expected to primarily contribute to regional growth.
Rising awareness regarding quality products and standards among people is likely to force players to adhere to guidelines of international quality standards. In order to improve brand image, companies have started implementing quality measure to gain these certifications. These quality measure is predicted to offer benefits such as improvement in product quality, process effectiveness, and cost saving.
Process Spectroscopy Market Share
Key players contributing to process spectroscopy market share include
Other prominent industry participants are
Industry players are focusing on development of instruments and solutions that are capable of providing FT-IR and NIR into a single device. Bruker Corporation has developed MPA, which is a multipurpose FT-NIR analyzer. Thermo Fisher Scientific is estimated to be the key player in the market; its offerings include reagents, equipment and consumables, analytical instruments, and software and services for research, analysis, manufacturing, diagnostics, and discovery. The company has four operating business segments, specialty diagnostics, laboratory products and services, life technologies business, and analytical technologies. Companies such as 3M, Boeing, General Electric (GE), Hewlett Packard (HP) and Lockheed Martin have successful implemented Six Sigma. Governments worldwide are anticipated to lay down strict quality policies for manufacturing in order to get enhanced products.
Process Spectroscopy Industry Background
Manufacturers may design their own product or assemble components to produce the final product. Some leading players are Agilent Technologies, Inc. Thermo Fisher Scientific, Inc., and Danaher Corp. Manufacturers also offer customized solutions for their customers along with analytical software for data storage and analysis. Thermo Fisher offers GRAMS Spectroscopy Software suite to collaborate data sets and perform analysis on these data sets.
Near Infrared (NIR) spectroscopy is anticipated to be largest technology segment over the forecast period. However, Raman spectroscopy is expected to show high growth rate owing to its various advantages. The technology does not require any sample preparation and is non-contacting and non-destructive. The spectra are acquired quickly and can be analyzed through glass or a polymer packaging, and not interfered by water. Raman spectroscopy is highly used in the pharmaceutical industry for analysis of salt forms and polymorphs.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →