TechNavio recognizes the following companies as the key players in the Global Spectroscopy Market: Danaher Corp., Life Technologies Corp., Agilent Technologies Inc., Bruker Corp., and Thermo Fisher Scientific Inc.
Commenting on the report, an analyst from TechNavio’s team said: “In recent years, the market is witnessing a new trend wherein numerous drug manufacturers are increasingly outsourcing their drug development activities to CROs. Outsourcing activities reduce manufacturing and distribution costs to the drug manufacturers, while ensuring quality of service and reducing lead time. They also help the outsourcing companies to manage product demand and concentrate on their core competencies such as innovation and brand building. These CROs employ the latest technologies and sophisticated spectroscopy instruments for the drug development process, and are the major end-users of spectroscopy instruments. Thus, the increased outsourcing to CROs is expected to have a positive impact on the Global Spectroscopy market during the forecast period.”
According to the report, one of the major drivers in this market is the increase in technological innovations. The ongoing innovations in biotechnology, chemicals, metals, and semiconductor applications are increasingly making use of spectroscopy techniques for the analysis of substances.
Further, the report states that one of the major challenges in this market is the high cost incurred in the innovation and development of spectroscopy instruments. The development process of spectroscopy instruments is lengthy as it needs to go through various stages such as design, testing, and implementation. This process is time consuming and expensive.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-spectroscopy-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Spectroscopy Market 2012-2016
