Global UV/Visible Spectroscopy Market: Overview
Ultraviolet-visible spectroscopy is the reflectance spectroscopy in the UV/Visible spectral area. The light in the visible and nearby areas is utilized. The reflectance in this nearby area directly impacts the identified colors of the involved chemicals. In this area of electromagnetic scale, electronic transitions are experienced by atoms and molecules.
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Global UV/Visible Spectroscopy Market: Segmentation
The global UV/Visible Spectroscopy Market is classified on the basis of instrument type as array-based systems, single-beam systems, handheld systems, and dual-beam systems. Of these, the single-beam systems segment contributed for the largest market share in the global market. Based on the application, the global market is segmented as environmental sciences, academic applications, quality assurance or quality control (QA/QC), physical chemistry studies, environmental testing, life science R&D, life science studies, production, and industrial applications.
Global UV/Visible Spectroscopy Market: Growth Factors
Major growth factors of the market are technological advancements and increasing the need for food analysis, which in turn is expected to boost the global UV/Visible spectroscopy market growth. In addition, increasing use of UV/Visible spectroscopy applications in the pharmaceuticals and environmental testing may fuel the global market growth in future. Moreover, increasing growth opportunities in the developing countries and high investments on molecular diagnostics are anticipated to witness growth in future. The emergence of the new concept, biobanking, has opened up new growth opportunities in the global UV/Visible spectroscopy market. Conversely, lack of skilled professionals and longevity of the instruments may hamper the global UV/Visible spectroscopy market growth. Business strategies of the various companies to offer new products at affordable prices may fuel the global market growth in the near future. They adopt strategies such as collaborations, acquisitions, expansions; product launches, agreements, partnerships, and other strategies to establish a strong foothold and gain market shares is expected to boost the global market.
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Global UV/Visible Spectroscopy Market: Regional Analysis
North America held the largest market share, followed by Europe, owing to huge investment in R&D may fuel the global UV/Visible spectroscopy market growth. However, Asia Pacific is experiencing the highest growth rate due to growing environmental and food safety concerns. Factors such as the presence of the fastest growing economies contribute to the global market growth. High growth in this region may allow the entry of the new key players into the global market. The Middle East and Africa are projected to higher growth in the market owing to increasing number of small and medium scale enterprises.
Global UV/Visible Spectroscopy Market: Competitive Players
Key players in the global UV/Visible spectroscopy market are Hitachi High-Technologies Corporation, Thermo Fisher Scientific Inc, Buck Scientific, Hach Company, and Horiba, Ltd. Other major players include Perkinelmer, Inc., Agilent Technologies, Inc., Hamamatsu Photonics K.K., Shimadzu Corporation, and JASCO, Inc.
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