Process Spectroscopy Market (By Technology: Atomic Spectroscopy, Mass Spectroscopy, Molecular Spectroscopy; By Component: Hardware, Software; By Application: Polymer, Pharmaceuticals, Water & Wastewater Management, Pulp & Paper, Oil & Gas, Metal & Mining, Chemical, Food & Agriculture, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global process spectroscopy market size was exhibited at USD 20.65 billion in 2022 and is projected to hit around USD 41.35 billion by 2032, growing at a CAGR of 7.19% during the forecast period 2023 to 2032.

Key Pointers:

• North America generated more than 46% of the revenue share in 2022
• By technology, the molecular spectroscopy segment dominated the market and generated more than 47% of the revenue share in 2022.
• By component, the hardware segment captured more than 79% of revenue share in 2022.
• By application, the pharmaceutical segment contributed more than 33% of revenue share in 2022.

Process Spectroscopy Market Report Scope

The total number of shipments was 698,500 units in 2022 which is expected to reach 1,461,573 units by 2032. The rising focus on matching the international standards for meeting the quality across the industries and increasing developments of handheld and portable instruments has contributed to the market growth across the globe. The market is expected to expand owing to the ability of spectrometers to analyze, monitor, and control processes along with identifying defects in the product materials and enhancing the quality of the product.

Process spectroscopy is a technique involving the application of spectroscopy which include studying the interaction between matter and electromagnetic radiation. The notable market growth can be accredited to the increasing adoption of spectroscopic techniques in the pharmaceutical and food & agriculture sectors. The growing awareness of quality food & drugs and various rules and regulations being imposed by the government & related organizations are the key factors expected to drive the growth of the global market.

Spectroscopy techniques have always been intense fields for researchers, aiming toward continuous up gradations and innovations, enhancing the techniques day by day. Their research and improvisations have led to numerous discoveries in a wide range of applications. The industries, such as pharmaceuticals, chemicals, oil & gas, and food & drug, have reached several considerable milestones, owing to the advancements in process spectroscopic techniques. The forensics department is another sector that has significantly benefitted through spectroscopic techniques.

Spectroscopy instrument is witnessing increased adoption in the pharmaceutical industry due to Process Analytical Technology (PAT) guidelines by the FDA framework. Raman spectroscopy instrument is popular in the pharmaceutical industry due to its low cost of analysis and high accuracy. It is witnessing a high demand from the agricultural industry owing to its ability to enable non-destructive extraction of physical and chemical data about the samples, helping to the faster analysis. The handheld and portable instruments are anticipated to gain market shares. These instruments use Wi-Fi connectivity to transfer the data to the connected device.

North America held the largest revenue share of over 46% in 2026 and is expected to maintain its dominance over the estimated period. The market is experiencing a significant shift across North America due to the increased shale gas production in the U.S. and Canada. The region is well equipped with the infrastructure for various R&D across all the major industrial sectors such as food & beverage, pharmaceutical, and chemicals, and possesses the potential for investments in various technological developments.

Asia Pacific is anticipated to witness the fastest CAGR over the forecast period, attributed to the region’s strong manufacturing hub and advancements in R&D practices. The usage of spectroscopic techniques for producing, refining, and distributing the oil & gas in these countries is resulting in the growing adoption of spectroscopy devices and methods, which drive the overall market at a considerable pace. All these factors have increased the adoption of spectroscopic techniques, largely, helping the regional growth.

Some of the prominent players in the Process Spectroscopy Market include:

• Yokogawa Electric Corporation
• Thermo Fisher Scientific, Inc.
• Shimadzu Corporationth
• Sartorius AG
• Kett Electric Laboratory
• Kaiser Optical Systems, Inc.
• HORIBA Ltd.
• Foss
• Danaher Corporation
• Bruker
• Agilent Technologies, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Process Spectroscopy market.

By Technology

• Atomic Spectroscopy
• Mass Spectroscopy
• Molecular Spectroscopy
  • NIR
  • FT-IR
  • Raman
  • NMR
  • Others

By Component

• Hardware
• Software

By Application

• Polymer
• Pharmaceuticals
• Water & Wastewater Management
• Pulp & Paper
• Oil & Gas
• Metal & Mining
• Chemical
• Food & Agriculture
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)