According to a soon-to-be-released report from Business Communications Co., Inc. (BCC), "RGB-168R Spectroscopy: An Enduring Market," the U.S. spectroscopy market in 2002 was $2.8 billion. It is expected to rise at an AAGR (average annual growth rate) of 9.1% and reach $4.3 billion by 2007. Technological innovations have changed the spectroscopy market structure completely, and in turn this has pushed each manufacturer toward better performance. The market has experienced a large change in dynamics, product types, market leaders, and instrumentation and commercial/research applications. This is a very complex market, with many technologies combined together to create better instruments, thus occupying niche markets with very specialized applications.
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