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IR Spectroscopy Market Worth 1.26 Billion USD by 2022PUNE, India, August 18, 2016 /PRNewswire/ -- According to new market research report "IR Spectroscopy Market by Spectrum Sensitivity (NIR, Mid IR, and Far IR), Product Type (Benchtop, Micro, Portable, and Hyphenated), Vertical (Biological, Pharmaceuticals, Chemicals, Food & Beverages, Environmental), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the overall market is expected to be valued at USD 1.26 Billion by 2022, growing at a CAGR of 6.5% between 2016 and 2022. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 38 market data Tables and 75 Figures spread through 135 Pages and in-depth TOC on "IR Spectroscopy Market" http://www.marketsandmarkets.com/Market-Reports/ir-spectroscopy-market-42486905.html The major factors driving the growth of the IR spectroscopy market include regulatory framework for process analytical technology in the pharmaceuticals industry, increase in R&D investment in life science, and continuous technological advancements in IR spectroscopy. The pharmaceuticals sector to hold the largest market share during the forecast period The pharmaceuticals sector held the largest share of the IR spectroscopy market in 2015, while the market for the biological and chemicals sectors is expected to grow at a significant rate between 2016 and 2022. In the current scenario, IR spectroscopy plays a key role in the pharmaceutical excipient manufacturing process. Growing acceptance of new international cGMP & cGDP certification is expected to increase the usage of IR spectroscopy instruments, thereby driving the growth of the market. MID IR spectroscopy plays a key role in the IR spectroscopy market The IR Spectroscopy Market has been segmented on the basis of spectrum sensitivity into NIR, Mid IR, and Far IR; of all these, Mid IR is expected to hold the largest market share during the forcast period, owing to the wide range of applications of Mid IR spectroscopy for the research and industrial sector. Along with this, the market for NIR spectroscopy devices s expected to grow at a significant growth rate during the forecast period. North America expected to hold the largest market share in the near future North America is expected to hold the largest market share and dominate the IR spectroscopy market in the near future because of the factors such as stringent drug development regulations and increase in government funding for R&D in North America. The market growth can also be attributed to the rise in proteomics research and various conferences that provide a platform for key players to showcase new products and technologies. Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=42486905 The key players in the market include General Electric Company (U.S.), Olympus Corporation (Japan), Ashtead Technology Ltd. (U.K.), Mistras Group Inc. (U.S.), Eddyfi NDT Inc. (Canada), Ether NDE Limited (U.K.), Zetec Inc. (U.S.), TUV Rheinland AG (Germany), Ibg NDT System Corporation (U.S.), Fidgeon Limited (U.K.), Magnetic Analysis Corporation Inc. (USA) among others. Browse Related Reports Infrared Imaging Market by Component (IR Lens System, IR Sensor, IR Detector), Technology (Cooled, Uncooled), Type (Fixed, Portable), Wavelength (NIR, SWIR, LWIR, FIR), Application, & Geography - Analysis and Forecast to 2022 Infrared Detector Market by Type (MCT, INGAAS, Pyroelectric, Thermopile Microbolometer and Others), Technology (Cooled Infrared, and Uncooled Infrared), Wavelength (Short, Medium, and Long Infrared), Application, and Geography - Global Forecast to 2020 Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp About MarketsandMarkets MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. 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