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 is a subject of quantum physics that studies the quantitative and qualitative characteristics of molecules via dispersion and interaction of electromagnetic radiations with numerous frequencies and energies. It aids in producing an absorption pattern or spectrum to deduce compositional or structural information. As such, molecular spectroscopy is extensively used in environmental testing, biotechnology, academic research, and food and beverage (F&B) assessments. Presently, it is available in various technology types, including nuclear magnetic resonance (NMR), ultraviolet (UV)-visible, mass, infrared, near-infrared, Raman, etc.
Base Year: 2021
Forecast Year: 2022-2027
Molecular Spectroscopy Market Trends and Drivers:
The increasing demand for this technology for introducing several efficient and accurate hybrid imaging systems, such as positron emitted tomography (PET) and computed tomography (CT) devices, is primarily driving the molecular spectroscopy market growth. Moreover, the elevating adoption of molecular spectroscopy in the pharmaceutical sector to discover new molecules is further catalyzing the market growth.
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In addition to this, the rising environmental consciousness among consumers is propelling the usage of molecular spectroscopy techniques in environmental screening, treating wastewater, and evaluating polycyclic aromatic hydrocarbons (PAH) levels to monitor the depletion of natural resources, which is acting as another significant growth-inducing factor.
Furthermore, the inflating usage of NMR spectroscopy for implementing quality control, assessing content purity, and studying the molecular structure of organic compounds is anticipated to fuel the molecular spectroscopy market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
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. and 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
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