Global Molecular Spectroscopy Market, By Technology (Nuclear Magnetic Resonance Spectroscopy, UV-Visible Spectroscopy, Infrared Spectroscopy, Near-Infrared Spectroscopy, Colour Measurement Spectroscopy, Raman Spectroscopy, Other Technologies), Application (Pharmaceutical Applications, Food and Beverage Testing, Biotechnology and Biopharmaceutical Applications, Environmental Testing, Academic Research, Other Applications) – Industry Trends and Forecast to 2029
Global Molecular Spectroscopy Market Analysis and Size
The market for molecular spectroscopy is estimated to increase rapidly over the forecast period. Molecular spectroscopy makes use of several types of radiation, such as absorption, emission, or scattering of electromagnetic waves by atoms or molecules, to examine them qualitatively or quantitatively. The spectrum response of molecules during their interaction with various frequencies and energies is measured by molecular spectroscopy analysis. Various businesses, including pharmaceuticals, biotechnology, and others, utilize the method. Hence, increasing the demand for molecular spectroscopy in the market.
- Data Bridge Market Research analyses that the molecular spectroscopy market was valued at USD 6.73 billion in 2021 and is expected to reach USD 11.83 billion by 2029, registering a CAGR of 7.30% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Molecular Spectroscopy Market Definition
The interaction of electromagnetic radiation with materials to generate an absorption pattern known as spectrum, from which structural or compositional information can be derived, is known as molecular spectroscopy. Excitation of molecular movement or vibration, as in infrared (IR) spectroscopy, or excitation of an electron in a higher -orbital, as in ultraviolet/visible (UV/VIS) spectroscopy, occurs throughout this process.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Technology (Nuclear Magnetic Resonance Spectroscopy, UV-Visible Spectroscopy, Infrared Spectroscopy, Near-Infrared Spectroscopy, Colour Measurement Spectroscopy, Raman Spectroscopy, Other Technologies), Application (Pharmaceutical Applications, Food and Beverage Testing, Biotechnology and Biopharmaceutical Applications, Environmental Testing, Academic Research, Other Applications)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Thermo Fisher Scientific Inc. (US), Bruker (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Eurofins Scientific (Luxembourg), Danaher (US), Merck KGaA (Germany), Siemens Healthcare GmbH (Germany), Medtronic (Ireland), ABB (Switzerland),B&W Tek. (US), Digilab Inc. (US), Hamamatsu Photonics K.K. (Japan), HORIBA, Ltd. (Japan), JASCO International Co., Ltd. (Japan), JEOL Ltd.(Japan), Endress+Hauser Group Services AG (Switzerland), Metrohm India Limited (Switzerland), Montana Instruments Corporation (US), Coherent, Inc. (US), Teledyne Technologies Incorporated (USA), Renishaw plc. (UK), Shimadzu Corporation (Japan)
Molecular Spectroscopy Market Dynamics
- Increasing application of molecular spectroscopy in environment screening
Increasing the application of molecular spectroscopy in environment screening will cushion the growth rate of the molecular spectroscopy market. The key factors that have led to the implementation of many laws and regulations to monitor environmental pollution levels include rising pollution levels and severe depletion of natural resources.
- Rising use in the pharmaceutical and biotechnology industry
Increasing utilization of molecular spectroscopy in the pharmaceutical and biotechnology industries will enhance the market's growth rate.
Furthermore, increasing focus on ensuring the quality of food products will boost the market growth. Also, the rise in technological advancement in molecular spectroscopy systems will enhance the market's growth rate. Increasing emphasis for the discovery of newer molecules by pharmaceuticals is the major market driver that will further escalate the growth of the molecular spectroscopy market.
- Rising number of R&D activities
Moreover, the rising number of research and development activities will benefit the growth of the molecular spectroscopy.
Moreover, the rise in new product launches and collaborations and emerging new markets will further provide beneficial opportunities for the molecular spectroscopy market's growth during the forecast period.
Restraints/Challenges Global Molecular Spectroscopy Market
- High cost associated molecular spectroscopy system
High cost associated molecular spectroscopy system will impede the market's growth rate during the forecast period. Spectroscopy instruments are more expensive since they have more advanced features and functions. Aside from the system's purchase price, the expense of conforming the system to industry standards is also quite costly.
The lack of skilled professionals
The efficient use of spectroscopic equipment necessitates skilled staff with relevant expertise and understanding. There is a severe shortage of experienced professionals for method development, validation, operation, and troubleshooting, which is projected to limit the spectroscopy market's growth in the approaching years to some extent.
On the other hand, impact of COVID-19 outbreak on supply chain and unfavourable reimbursement scenario will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This molecular spectroscopy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the molecular spectroscopy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Molecular Spectroscopy Market
The expanding COVID-19 pandemic had a beneficial impact on the industry, as scientists are increasingly using Raman spectroscopy to screen for COVID-19. A Northern Arizona University (NAU) research team, for instance, was discovered creating a new SARS-CoV-2 test technology based on single-molecule surface-enhanced Raman spectroscopy (SM-SERS). As a result of the increase in pharmaceutical companies' research and development activities connected to drug discovery, demand for molecular spectroscopy is predicted to climb steadily over the forecast period.
- In March 2021, JASCO Corporation had launched a new range of fluorescence spectrophotometers (FP- 8050 Series). The FP-8050 Series consists of five instruments that span the full range of biological, environmental, chemical, and materials analysis applications.
Global Molecular Spectroscopy Market Scope
The molecular spectroscopy market is segmented on the basis of technology and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Nuclear Magnetic Resonance Spectroscopy
- UV-Visible Spectroscopy
- Infrared Spectroscopy
- Near-Infrared Spectroscopy
- Colour Measurement Spectroscopy
- Raman Spectroscopy
- Other Technologies
Based on technology, the molecular spectroscopy market is segmented into nuclear magnetic resonance spectroscopy, UV-visible spectroscopy, infrared spectroscopy, near-infrared spectroscopy, colour measurement spectroscopy, Raman spectroscopy and other technologies. Nuclear magnetic resonance spectroscopy segment is sub-segmented into Fourier-transform NMR spectroscopy, continuous-wave NMR spectroscopy and solid-state NMR spectroscopy. UV-visible spectroscopy segment is sub-segmented into single-beam UV-visible spectroscopy, dual-beam UV-visible spectroscopy and array-based UV-visible spectroscopy. Infrared spectroscopy segment is sub-segmented into spectrum and type. Spectrum segment is further bifurcated into mid-wave infrared spectroscopy, short-wave infrared spectroscopy and far-wave infrared spectroscopy. Type segment is further bifurcated into bench top, infrared microscopy, portable and handheld, hyphenated and terahertz. Near-infrared spectroscopy segment is sub-segmented into scanning near-infrared spectroscopy, Fourier-transform near-infrared spectroscopy and filter nir spectroscopy/acoustic-optical tuneable filter-nir spectroscopy. Raman spectroscopy segment is sub-segmented into sampling technique and type. Sampling technique segment is further bifurcated into surface-enhanced Raman scattering, tip-enhanced Raman scattering and other Raman spectroscopy techniques. Type segment is further bifurcated into micro-Raman spectroscopy, probe-based Raman spectroscopy and FT-Raman spectroscopy.
- Pharmaceutical Applications
- Food and Beverage Testing
- Biotechnology and Biopharmaceutical Applications
- Environmental Testing
- Academic Research
- Other Applications
Based on application, the molecular spectroscopy market is segmented into pharmaceutical applications, food and beverage testing, biotechnology and biopharmaceutical applications, environmental testing, academic research and other applications.
Molecular Spectroscopy Market Regional Analysis/Insights
The molecular spectroscopy market is analysed and market size insights and trends are provided by country, technology and application as referenced above.
The countries covered in the molecular spectroscopy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the molecular spectroscopy market because of the existence of developed technologies in this region. Additionally, growing funding for environmental testing will flourish the market's growth rate in this region.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 due to the growth and expansion of biopharmaceutical industries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The molecular spectroscopy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for molecular spectroscopy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the molecular spectroscopy market. The data is available for historic period 2010-2020.
Competitive Landscape and Molecular Spectroscopy Market Share Analysis
The Molecular spectroscopy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to molecular spectroscopy market.
Some of the major players operating in the molecular spectroscopy market Thermo Fisher Scientific Inc. (US), Bruker (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Eurofins Scientific (Luxembourg), Danaher (US), Merck KGaA (Germany), Siemens Healthcare GmbH (Germany), Medtronic (Ireland), ABB (Switzerland),B&W Tek. (US), Digilab Inc. (US), Hamamatsu Photonics K.K. (Japan), HORIBA, Ltd. (Japan), JASCO International Co., Ltd. (Japan), JEOL Ltd.(Japan), Endress+Hauser Group Services AG (Switzerland), Metrohm India Limited (Switzerland), Montana Instruments Corporation (US), Coherent, Inc. (US), Teledyne Technologies Incorporated (USA), Renishaw plc. (UK), and Shimadzu Corporation (Japan), among others.
Research Methodology : Global Molecular Spectroscopy Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-molecular-spectroscopy-market