NIR And Raman Spectroscopy Global Market Report 2025

The NIR and raman spectroscopy market size has grown rapidly in recent years. It will grow from $1.78 billion in 2024 to $2.05 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. The growth during the historical period can be attributed to the rise in pharmaceutical research activities, the growing use of spectroscopy in food safety testing, increased environmental monitoring initiatives, the expansion of portable spectroscopy device adoption, and heightened regulatory focus on quality control.

The NIR and raman spectroscopy market size is expected to see rapid growth in the next few years. It will grow to $3.56 billion in 2029 at a compound annual growth rate (CAGR) of 14.8%. The projected growth in the forecast period can be attributed to the increasing demand for clinical diagnostics, the rising adoption of process analytical technology, greater integration with artificial intelligence, expansion of the biotechnology and life sciences industries, and growing investments in research and development. Key trends expected during this period include the miniaturization of spectroscopy devices, advancements in data analytics integration, innovations in portable and handheld systems, increased R&D expenditure, and the development of hybrid spectroscopy technologies.

The growing investment in pharmaceutical research and development (R&D) is expected to drive the growth of the NIR and Raman spectroscopy market. Pharmaceutical R&D encompasses the discovery, development, and testing of new drugs to ensure safety, efficacy, and regulatory compliance before they reach the market. This spending is on the rise due to increasing demand for innovative therapies to treat complex and chronic conditions, prompting pharmaceutical companies to invest in novel drug development and personalized medicine. The R&D process relies heavily on fast, accurate, and non-destructive analytical techniques such as NIR and Raman spectroscopy for drug formulation, development, and quality assurance. For example, in September 2022, the Parliament of the United Kingdom announced a pharmaceutical R&D budget of approximately $49.6 billion (£39.8 billion) for the 2022-2025 period, with annual spending expected to rise by about $6.2 billion (£5 billion), reaching $24.9 billion (£20 billion) by 2024/25. This increased investment is fueling the adoption of advanced spectroscopy tools across the pharmaceutical sector.

Leading companies in the NIR and Raman spectroscopy market are focusing on technological innovations to improve analytical performance and support rapid, non-destructive testing in sectors such as pharmaceuticals, chemicals, and food processing. The next generation of Raman spectrometers features enhanced sensitivity, compact designs, and AI-powered analytics for high-speed, high-precision molecular analysis. For instance, in June 2022, Timegate Instruments Ltd., a Finland-based deep-tech firm, introduced the PicoRaman M3 its third-generation time-gated Raman spectrometer. This compact and portable system delivers fast, continuous, and real-time chemical measurements that are 10 to 40 times quicker than previous models. It enables specific, non-invasive analysis and resists ambient light and thermal interference, allowing for high-temperature readings and seamless integration into industrial process environments without the need for sample preparation.

In June 2023, Thermo Fisher Scientific Inc., a U.S.-based biotechnology leader, acquired MarqMetrix, Inc. for an undisclosed amount.This acquisition enhances Thermo Fisher's portfolio of analytical technologies by incorporating MarqMetrix’s Raman-based in-line process analytical tools. These tools enable real-time, high-precision measurement and monitoring of critical manufacturing parameters across sectors such as biopharmaceuticals, pharmaceuticals, chemicals, and oil and gas. MarqMetrix, Inc., based in the U.S., specializes in optical measurement systems and provides both NIR and Raman spectroscopy solutions for in-line industrial applications.

Major players in the nir and raman spectroscopy market are Thermo Fisher Scientific Inc., Danaher Corporation, ABB Ltd., Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc., Shimadzu Corporation, Bruker Corporation, Horiba Ltd., Renishaw plc, Metrohm AG, JASCO Corporation, Spectral Sciences Inc., Tornado Spectral Systems Inc., BaySpec Inc., Cubert GmbH, Photothermal Spectroscopy Corp., Pendar Technologies LLC, Photon etc. Inc., TimeGate Instruments Ltd.

Asia-Pacific was the largest region in the NIR and raman spectroscopy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in NIR and raman spectroscopy report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the NIR And Raman Spectroscopy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Near-infrared (NIR) and Raman spectroscopy are advanced analytical methods used to detect and analyze chemical compounds by examining molecular vibrations - NIR through light absorption and Raman through light scattering. NIR is particularly effective for analyzing substances containing water or polar bonds, whereas Raman spectroscopy provides highly detailed spectra ideal for identifying specific molecular structures and remains unaffected by water presence.

The primary product types in NIR and Raman spectroscopy include benchtop spectrometers, portable or handheld spectrometers, microscopy systems, and various probes and accessories. Benchtop spectrometers are precision instruments designed to measure light absorption, transmission, or emission, commonly used in laboratory environments for scientific analysis. These tools are classified by technology into near-infrared (NIR) spectroscopy and Raman spectroscopy, and they serve a wide range of applications, including pharmaceuticals, biotechnology and biopharmaceuticals, food and beverage testing, environmental monitoring, academic research, and more.

The NIR and raman spectroscopy market research report is one of a series of new reports that provides NIR and raman spectroscopy market statistics, including the NIR and raman spectroscopy industry's global market size, regional shares, competitors with the NIR and raman spectroscopy market share, detailed NIR and raman spectroscopy market segments, market trends and opportunities, and any further data you may need to thrive in the NIR and raman spectroscopy industry. This NIR and raman spectroscopy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The NIR and raman spectroscopy market consists of revenues earned by entities by providing services such as transmission NIR spectroscopy, reflectance NIR spectroscopy, diffuse reflectance NIR, and transflectance NIR. The market value includes the value of related goods sold by the service provider or included within the service offering. The NIR and raman spectroscopy market includes sales of tungsten-halogen lamps, transmission cells, integrating spheres, and thermoelectric or liquid nitrogen cooling. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values generated by organizations in the specified geography within the market, irrespective of where they are produced. They do not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.