UV Spectroscopy Market Saw Strong Growth With The Pandemic Due To Its Crucial Need In Development Of COVID-19 Vaccines

Ultraviolet-Visible Spectroscopy Market Report 2021: COVID-19 Growth And Change

Ultraviolet-Visible Spectroscopy Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Ultraviolet-Visible Spectroscopy Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON , UK, May 31, 2021 /EINPresswire.com/ — The outbreak of COVID-19 led to an increase in production of pharmaceutical drugs and demand for vaccines and fueled the growth of the ultraviolet-visible spectroscopy market. Due to increased demand for certain drugs during the pandemic, the demand of ultraviolet-visible spectroscopy instruments also grew for research and development of new medications and vaccines. UV spectrophotometry provides fast, easy and accurate characterization of components such as nucleic acids, proteins, additives/preservatives and can impact the time-to-result for both downstream and upstream processes including quality control. According to a study by Mettler Toledo, these instruments were extremely crucial for the development of the COVID-19 vaccines, and thus supported the growth of the market.

North America was the largest region in the ultraviolet-visible spectroscopy market in 2020. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the ultraviolet-visible spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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The global ultraviolet-visible spectroscopy market is expected to grow from $0.95 billion in 2020 to $1.01 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to growing application and use of UV/visible spectroscopy in pharmaceutical & biotechnology environmental screening and other applications. The technological advancements and increasing need for food analysis and quality products is also adding to the growth of the market. The ultraviolet-visible spectroscopy market is expected to reach $1.22 billion in 2025 at a CAGR of 4.8%.

Major players in the global UV visible spectroscopy market are Shimadzu Corporation, Agilent Technologies, Thermo Fisher Scientific Inc., PerkinElmer Inc., Bio-Rad Laboratories, Hitachi High-Technologies Corporation, Buck Scientific, Bruker Corporation, Mettler-Toledo, Cole-Parmer, GBC Scientific Equipment, Hach Company, HORIBA. Ltd, Hamamatsu Photonics K.K, Analytik Jena, GBC Scientific Equipment, Biochrom, Ametek Process Instruments, Cecil Instrument, and GE Healthcare.

The global ultraviolet-visible spectroscopy market is segmented by instrument type into single-beam system, double-beam system, array based system, handheld system, by application into industrial applications, physical chemistry studies, life science studies, environmental studies, academic applications, life science research and development, quality assurance and quality control, and by end user into pharmaceutical and biotechnology companies, academic and research institutes, agriculture and food industries, environmental testing labs.

Ultraviolet-Visible Spectroscopy Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides UV-visible spectroscopy market overview, forecast ultraviolet-visible spectroscopy market size and growth for the whole market, UV-visible spectroscopy market segments, and geographies, UV-visible spectroscopy market trends, ultraviolet-visible spectroscopy market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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