According to Fortune Business Insights, the global process spectroscopy market was valued at USD 15.93 billion in 2023 and is projected to grow from USD 20.41 billion in 2024 to USD 116.49 billion by 2032, exhibiting a CAGR of 24.3% during the forecast period. The rapid adoption of spectroscopy technologies for real-time analysis, product quality assurance, and cost efficiency is driving market expansion across industries.
Process spectroscopy is an analytical technique used to examine end products in various industries, enabling companies to maintain quality standards, reduce operational time, and lower surveillance costs. Its growing adoption in pharmaceutical safety testing and food inspection applications is significantly boosting the global market.
Fortune Business Insights lists several major players actively shaping the market landscape:
Source: https://www.fortunebusinessinsights.com/process-spectroscopy-market-105549