Raman Spectroscopy Market Is Estimated To Witness High Growth |...

Raman Spectroscopy Market Is Estimated To Witness High Growth

Posted 2023-11-02 10:08:34

The Global Raman Spectroscopy Market is estimated to be valued at US$ 1.18 Billion In 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Raman spectroscopy is a vibrational spectroscopic technique which is non-destructive in nature and is based on inelastic scattering of monochromatic light. It has applications in pharmacy, life sciences, materials science, chemistry, and other areas. It allows sample identification and characterization by observing the scattered radiation from a sample illuminated by a laser or monochromatic light. The technique provides specific molecular fingerprint information. It helps identify unknown materials, monitor pharmaceutical manufacturing, detect counterfeit pharmaceuticals, and others.

Market Dynamics:

The Global Raman Spectroscopy Market is expected to witness high growth owing to adoption in healthcare and implementation of process monitoring techniques. Healthcare is the major application segment for Raman spectroscopy as it allows non-invasive and non-destructive identification and analysis of biological samples including drugs, cells, and body fluids. It aids in disease diagnosis and drug discovery. Moreover, Raman spectroscopy is increasingly being used for process monitoring in industries like semiconductor, ceramic, plastics, and polymers. Process parameters like temperature, water content, crystallinity, and molecular structure can be monitored in real-time to ensure product quality. This has propelled the demand for Raman spectroscopy in process monitoring applications.