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Raman Spectroscopy Market - Growth Prospects and Top 3 Drivers by TechnavioTechnavio market research analysts forecast the global Raman spectroscopy market to grow at a CAGR of more than 7% during the forecast period, according to their latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170825005008/en/ 
Technavio has published a new report on the global Raman spectroscopy market from 2017-2021. (Graphic: Business Wire) The market study covers the present scenario and growth prospects of the global Raman spectroscopy market for 2017-2021. The report also lists pharmaceutical, environmental, and life sciences as the three major application segments, of which the life sciences segment accounted for close to 33% of the market share in 2016. "Raman spectroscopy is one of the most widely adopted spectroscopy techniques in the market. The market will grow with the increasing demand for handheld and portable Raman spectrometers from emerging countries and because of government incentives for testing across all industries. The demand for handheld Raman spectrometers is driven by the medical and life sciences industries," says Sunil Kumar Singh, lead analyst at Technavio for embedded systems research. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three market drivers that are contributing to the growth of the global Raman spectroscopy market:
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Increased focus on drug development in healthcare industry The pharmaceutical industry is experiencing high R&D expenditure year-over-year. Raman spectroscopy is used extensively for R&D in the pharmaceutical industry for testing and new drug discovery. There is an increased need in the pharmaceutical industry to meet the international standards such as ISO and Six Sigma certifications. Raman spectroscopy will help improve the quality and operational efficiency. "Raman spectrometers are also used to study the human genome and synthesis of DNA molecules/fragments. Pharmacogenomics is the branch of genetics that is concerned with the role of the human genome in drug response. The implications of human genomics and pharmacogenomics in research enable scientists to discover new drugs that are more effective in the treatment of fatal and chronic diseases," says Sunil. Growth in food and safety market With the growth of the processed and convenience food industry, the demand for food testing has also increased. The growing awareness of foodborne diseases and globalized food trade has led to strict regulations and testing processes by the food regulatory authorities. The food safety testing market is expected to cross USD 15 billion by 2019. Developing and underdeveloped countries are more prone to foodborne diseases. To control foodborne diseases, many countries are passing strong food regulations. For instance, in 2014, China revised its food safety law by adding the operation of food additives to be subject to government license along with stringent regulations for infant food. The growth of the food safety testing market will have a major impact on the market as Raman spectroscopy equipment is widely used for quality checks and for monitoring the levels of preservatives in food. Rising demand for metals and minerals Growing urbanization, especially in developing countries such as China, Brazil, and India, has led to a high demand for real estate in the residential and commercial sectors. This has led to a high demand for iron and other construction materials. This will have a moderate effect on the metal mining and chemical industries. Raman spectroscopy, atomic absorption (AA) spectroscopy, and inductively coupled plasma optical emission spectrometry (ICP-OES (News - Alert)) spectroscopy are used to analyze the concentration of elements such as calcium, zinc, and copper and understand the physicochemical properties of the earth minerals. Browse Related Reports:
About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
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