The global molecular spectroscopy market reached a value of US$ 6.25 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.23 Billion by 2027, exhibiting a CAGR of 4.50% during 2022-2027.
Molecular spectroscopy measures the interchange between electromagnetic radiations with several frequencies, energies, and light. It studies the quantitative and qualitative characteristics of molecules and is analyzed by visible light, ultraviolet (UV) light, and infrared radiation using an instrument called a spectrometer. It also aids in producing an absorption pattern or spectrum to conclude compositional and structural information. Some commonly used spectroscopy technologies are Raman, mass, nuclear magnetic resonance (NMR), ultraviolet/visible (UV/VIS), infrared and near-infrared spectroscopy. As a result, molecular spectroscopy finds extensive applications across environmental testing, academic research, food and beverage (F&B) assessments, and biotechnology.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Molecular Spectroscopy Market Trends and Drivers:
The market is primarily driven by the extensive application of molecular spectroscopy across biotechnology and food and beverage (F&B) industries. In addition, the rising adoption of several efficient and accurate hybrid imaging systems in the healthcare sector, such as computed tomography (CT) and positron-emitted tomography (PET) devices, represents another growth-inducing factor. Moreover, various technological advancements in molecular spectroscopy and its widespread adoption in the pharmaceutical industry to discover newer molecules are also augmenting market growth.
Besides this, several favorable initiatives undertaken by governments of numerous industries to promote the employment of molecular spectroscopy for evaluating polycyclic aromatic hydrocarbons (PAH) levels, treating wastewater, and environmental screening are propelling the market growth. Furthermore, the rising usage of nuclear magnetic resonance (NMR) spectroscopy technology for executing quality control, determining the molecular structure of organic compounds, and assessing the content purity is providing a positive thrust to the market growth. Other factors, including the significant expansion of the biotechnology industry, rising food safety concerns among the masses, and the increasing application of Raman spectroscopy for coronavirus disease (COVID-19) testing, are creating a positive market outlook across the globe.
Global Molecular Spectroscopy Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
- ABB Ltd.
- Agilent Technologies Inc.
- Bruker Corporation
- Hitachi Ltd.
- Horiba Ltd.
- JASCO Inc.
- JEOL Ltd.
- Medtronic plc
- Merck KGaA
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- VIAVI Solutions Inc.
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The report has segmented the market on the basis of region, product type, technology and application.
Breakup by Product Type:
Breakup by Technology:
- NMR Spectroscopy
- Raman Spectroscopy
- UV-Visible Spectroscopy
- Mass Spectroscopy
- Infrared Spectroscopy
- Near-Infrared Spectroscopy
Breakup by Application:
- Pharmaceutical Applications
- Food and Beverage Testing
- Biotechnology and Biopharmaceutical Applications
- Environmental Testing
- Academic Research
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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