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April 18, 2019 | Information & Technology
Process Spectroscopy finds applications in a number of sectors such as oil and gas, healthcare and pharmaceuticals, wastewater management, metal and mining, chemical, and food and agriculture. This, as per recent studies, is a key driver of the global Process Spectroscopy Market.
The entry of new players in the market is intensifying the competition. Major companies are focusing on expanding their geographical reach in emerging nations in order to establish a strong foothold in the global Process Spectroscopy Market. According to a report on global Process Spectroscopy Market by Fortune Business Insights (FBI), the market is anticipated to witness a CAGR of 8.9 and reach a valuation of US$ 1,910.1 Mn by 2025 from US$ 976.9 Mn in 2017. The rise in awareness regarding the importance of good product quality is adding boost to the global Process Spectroscopy Market.
Spectroscopy Helping Healthcare Sector Achieve Wonders
Spectroscopy finds application in the healthcare sector in the form of photoablation or laser ablation where materials can be removed from a liquid or a solid surface using laser beam. With the help of laser ablation surgery, tumors and other lesions can be removed as it uses light to heat up and destroy unwanted cells in the body. Spectroscopy technique, used in Magnetic Resonance Imaging or MRIs are used by surgeons to place thin lasers in the brain and perform such surgeries.
The rising use of spectroscopy in the healthcare sector not just creates growth opportunities for the market, it also helps in improving overall patient care.
New Researches on Tissue Regeneration Utilizes Spectroscopy for Preclinical Methods
For people suffering from degeneration or damage of joint cartilage, tissue engineering and its advanced techniques are considered a boon. New spectroscopic techniques are being developed to ascertain improved treatment to people suffering from tissue degeneration. Several studies are also conducted to explore the benefits of using spectroscopy in the treatment of this condition.
Professors of the Bioengineering Temple University at Philadelphia Pennsylvania studied and explored the use of near-infrared (NIR) spectroscopy and Fourier-transform-infrared imaging spectroscopy (FT-IRIS) have found that these techniques can aid in developing replacement tissue. This technique is proven beneficial in many ways. Researchers have stated that they would further grow these engineered cartilages in the laboratory and identify the optimal constructs based on their already present NIR fiber optic data. This will then be harvested for implantation in a preclinical model. Innovations like these can help the global market for spectroscopy to gain popularity and witness remarkable growth rates in the future.
Scientists Utilizing Spectroscopy to Research on Energy and Power Resources
Power generation is shifting from traditional ways and means to less foreseeable renewable sources. Since consumers demand long battery life and quick charging for their products, there is the need for better energy storage devices. Scientists at the University of Liverpool, UK, are developing such devices in the form of supercapacitors and batteries. Such experiments include in-depth study of various spectroscopies such as Raman spectroscopy, UV-Vis, x-ray photoelectron spectroscopy (XPS), and infrared (IR) spectroscopy, where each offers different advantages.
For instance, the IR spectroscopy allows them to investigate various mechanisms leading to the decomposition of electrolyte during attack by superoxide species. The superoxide species are formed during the process of oxygen reduction in lithium-air batteries. Again the XPS spectroscopy is used for studying the chemical elements present in few of the top nanometers of the electrode surfaces, along with their oxidation state and quantities. Spectroscopy has various uses in energy and power as they help to determine the electronic state of reduced oxygen species that also has an adverse effect on device stability.
Author - Raginee Sarkar