Australia process spectroscopy market is projected to reach US$ 883.3 million by 2030, exhibiting a CAGR of 6.1%, mainly driven by regulatory compliance needs and growing pharmaceutical demand.
Wilmington, Delaware, Oct. 11, 2023 (GLOBE NEWSWIRE) — Australia Process Spectroscopy Market value is US$ 583.6 million in 2023 and is expected to grow at a significant CAGR of over 6.1% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The use of spectroscopic techniques to monitor and analyze chemical or physical processes in real-time is referred to as process spectroscopy. The study of the interactions between matter and electromagnetic radiation is known as spectroscopy. Scientists can get significant insights into the composition, structure, and qualities of a substance by analyzing the light absorbed, emitted, or scattered by it.
Process spectroscopy is a thriving industry in Australia because of its capacity to improve quality control, increase efficiency, maintain regulatory compliance, and support research and development efforts in a variety of industries, including pharmaceuticals, mining, environmental monitoring, and others.
- According to a deep-dive market assessment by RationalStat, the Australia Process Spectroscopy market has been analyzed on the basis of market segments, including type, technology, end user and geography/regions (including Western Australia, Southern Australia, Eastern Australia, Northern and Central Australia). The report also offers Australia and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Australia Process Spectroscopy market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Australia Process Spectroscopy market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Australia Process Spectroscopy Market: Segmental and Market Share Analysis
- On the basis of type, nuclear magnetic resonance spectroscopy is dominating and the fastest-growing segment during the forecast period. It is used to determine the structure of molecules.
- On the basis of technology, the market is expected to be dominated by atomic absorption spectroscopy. It is reasonably priced and simple to use, while delivering high-throughput quantitative analysis.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 583.6 million |
| Market Size Forecast | US$ 883.3 million |
| Growth Rate | 6.1% |
| Key Market Drivers | - Cost reduction
- Time efficiency
- Allows continuous monitoring of real-time data
- Widely used in various industries
|
| Companies Profiled | - Sartorius AG
- Thermo Fisher Scientific Inc.
- Bruker Corporation
- ABB Group
- PerkinElmer AES
- FOSS
- Metrohm AG
- Ocean Optics, Inc.
- Shimadzu Scientific Instruments (Oceania) Pty Ltd
- Agilent Technologies, Inc.
|
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Competition Analysis and Market Structure
Leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Australia process spectroscopy market include,
- In June 2023, Thermo Fischer Scientific Inc. announced the introduction of the Thermo Scientific Orbitrap Astral mass spectrometer, marking a significant milestone in mass spectrometry innovation after 15 years.
Some of the prominent players and suppliers operating and contributing significantly to the Australia process spectroscopy market growth include Sartorius AG, Thermo Fisher Scientific Inc., Bruker Corporation, ABB Group, PerkinElmer AES, FOSS, Metrohm AG, Ocean Optics, Inc., Shimadzu Scientific Instruments (Oceania) Pty Ltd, and Agilent Technologies, among others.
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RationalStat has segmented the Australia process spectroscopy market based on type, technology, end user and region
- Australia Process Spectroscopy Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
- Infrared Spectroscopy
- Ultraviolet-Visible Spectroscopy
- Raman Spectroscopy
- X-ray Spectroscopy
- Nuclear Magnetic Resonance Spectroscopy
- Australia Process Spectroscopy Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Technology
- Atomic Absorption Spectroscopy
- Atomic Emission Spectroscopy
- Atomic Fluorescence Spectroscopy
- Australia Process Spectroscopy Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by End User
- Food & Beverages
- Agriculture
- Healthcare
- Manufacturing
- Oil & Gas
- Chemicals
- Australia Process Spectroscopy Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
- Australia Process Spectroscopy Market
- Western Australia
- Southern Australia
- Eastern Australia
- Northern and Central Australia
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Key Questions Answered in the Process Spectroscopy Report:
- What will be the market value of the Australia process spectroscopy market by 2030?
- What is the market size of the Australia process spectroscopy market?
- What are the market drivers of the Australia process spectroscopy market?
- What are the key trends in the Australia process spectroscopy market?
- Which is the leading region in the Australia process spectroscopy market?
- What are the major companies operating in the Australia process spectroscopy market?
- What are the market shares by key segments in the Australia process spectroscopy market?
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Research Methodology
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RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
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- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end Australia market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support Australia and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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