Molecular Spectroscopy Market Size (2022 - 2027)
The molecular spectroscopy market size at the global level was worth USD 5 billion in 2022 and is expected to grow with a CAGR of 7.76% to reach USD 10.3 billion by 2027 during the foreseen period.
Molecular spectroscopy is a subject of quantum physics containing the interaction of electromagnetic radiation with materials to generate an absorption known as spectrum, from which structural or compositional information can be presumed.
In the process of molecular spectroscopy, molecules undergo changes from one state to another and contain agitation of molecular movement or vibration used with infrared (IR) spectroscopy or the stimulation of an electron in a higher orbital as used for ultraviolet/visible (UV/VIS) spectroscopy.
Molecular spectroscopy technology is also used across other fields like pharmaceutical, mining, and chemical industries to quantify the environmental influence of diverse industrial processes.
Factors driving the market include rising pharmaceutical and biotechnology industries with growing advanced technologies in molecular spectroscopy and the application of environmental screening. Also, the increasing food safety issues fuel the molecular spectroscopy market. Some of the developed and underdeveloped governments are continuously concentrating and supporting the drug discovery and improvements made by the pharma and biotechnology and research institutes. This factor booms the market growth globally.
Pharmaceutical industries are quickly adopting molecular diagnostics, increasing perforation of molecular spectroscopy in different verticals, and growing prominence on the discovery of new molecules by pharmaceuticals led the market to grow strongly.
As per the latest news by the National Institute of Health 2022, spectroscopy is widely used for identifying and monitoring COVID-19.
With the increasing COVID-19 cases, pharmaceutical companies are in demand for research and development activities that have accelerated the growing demand for drug discovery and improvements.
However, the cost of molecular technology is expensive inhibits the growth rate of the molecular spectroscopy market. The absence of skilled health professionals and untimely reimbursement policies among the developed and undeveloped countries challenge the market growth.
The global molecular spectroscopy market is based on technology and application.
Infrared (IR) Spectroscopy
IR Spectroscopy, by Spectrum
IR Spectroscopy, by Type
Color Measurement Spectroscopy
Raman Spectroscopy, by Sampling Technique
Raman Spectroscopy, by Type
Based on the technology, Nuclear Magnetic Resonance (NMR) dominates the market globally. NMR is a chemistry procedure used in quality control and research for identifying the content and purity of the sample and its molecular structure.
Biotechnology & Biopharmaceutical Applications
Food & Beverage Testing
The pharmaceutical applications segment led the molecular spectroscopy market throughout the foreseen period. The segment growth attributes to the escalating significance of molecular spectroscopy across various stages of drug development and hiking research and development in the pharmaceutical industries.
The biotechnology and biopharmaceutical application is the second-largest segment and is expected to grow with the highest CAGR rate.
North America is spearheading the global molecular spectroscopy market with the highest share during the timeline period. The segment growth owes to technological advancements and governments are making high investments.
The U.S is the largest biopharmaceuticals market with one-third of the share and is the global leader in biopharmaceutical research and development, as per the Pharmaceutical Research and Manufacture's Association (PhRMA). The U.S has the most supportive domestic environment for research, development, and commercialization of pharmaceuticals with low market restrains.
The appearance of many pharmaceutical industries plays a crucial role in influencing the molecular spectroscopy market positively, in Canada.
Europe is the second-largest region to grow in the molecular spectroscopy market. The mushrooming investments by governing bodies and policymakers in medical sciences and life science research drives the European market. The appearance of global key players is increasing and large pharmaceutical companies propel the growth in the European countries.
The increasing use of molecular spectroscopy in the pharmaceutical field growing funds for environmental testing, and favorable government issues and policies and initiatives to enhance lab infrastructure.
Germany, France, Spain, and the UK are experiencing augmenting growth in molecular spectroscopy.
Asia-Pacific's molecular spectroscopy is projected to have tremendous growth during 2022-2027. The quickly advancing biotechnology arena in China helps the region to acquire considerable growth during the procedure. Accumulating research and development activities rotating around the medical field in Japan continues to stand as a strong pillar fuel the market growth.
The region is likely to create opportunities for the players operating in the region. The demand for an extensive range of molecular spectroscopy devices flourishes in the molecular spectroscopy market.
China and India are highly adopting molecular spectroscopy and create immense opportunities for the key players in the market.
Latin America and the Middle East and African regions are anticipated to have stable and sluggish growth in the molecular spectroscopy market throughout the timeframe. The quick rise in the population, growth in consumer awareness, and favorable government policies escalate the market growth. Moreover, modernization of healthcare infrastructure and increasing medical tourism across the developing nations intensify the molecular spectroscopy market growth.
Recent Market Developments
Chapter 1. Global Molecular Spectroscopy Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Molecular Spectroscopy Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2027) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2022 - 2027
2.3.2. Impact on Supply – Demand
Chapter 3. Global Molecular Spectroscopy Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Molecular Spectroscopy Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Molecular Spectroscopy Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Molecular Spectroscopy Market – By Technology
6.1. Nuclear Magnetic Resonance (NMR) Spectroscopy
6.2. Continuous-wave (CW) NMR Spectroscopy
6.3. Fourier-transform NMR Spectroscopy (FTS)
6.4. Solid-state NMR Spectroscopy (SSNMR)
6.2. UV-Visible Spectroscopy
6.2.1. Single-beam UV-Visible Spectroscopy
6.2.2. Dual-beam UV-Visible Spectroscopy
6.2.3. Array-based UV-Visible Spectroscopy
6.3.Infrared (IR) Spectroscopy
IR Spectroscopy, by Spectrum
6.3.1. Mid-wave Infrared Spectroscopy
6.3.2. Short-wave Infrared Spectroscopy
6.3.3. Far-wave Infrared Spectroscopy
6.4. IR Spectroscopy, by Type
6.4.3. IR Microscopy
6.4.4. Portable & Handheld
6.5. Near-infrared Spectroscopy
6.5.3. Filter or AOTF
Color Measurement Spectroscopy
6.6. Raman Spectroscopy, by Sampling Technique
6.6.1. Surface-enhanced Raman Scattering
6.6.2. Tip-enhanced Raman Scattering
6.6.3. Other Sampling Techniques
6.7. Raman Spectroscopy, by Type
6.7.1. Micro-Raman Spectroscopy
6.7.2. Probe-based Raman Spectroscopy
6.7.3. FT-Raman Spectroscopy
Chapter 7. Global Molecular Spectroscopy Market – By Application
7.1. Pharmaceutical Applications
7.2. Biotechnology & Biopharmaceutical Applications
7.3. Food & Beverage Testing
7.4. Environment Testing
7.5. Academic Research
7.6. Other Applications
Chapter 8. Global Molecular Spectroscopy Market, By Geography - Market Size, Forecast, Trends & Insights
8.1. North America
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.2. South Korea
8.3.5. Australia & New Zealand
8.3.6. Rest of Asia-Pacific
8.4. Rest of the World
8.4.1. Middle East
8.4.3. South America
Chapter 9. Global Molecular Spectroscopy Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
9.1. Company 1
9.2. Company 2
9.3. Company 3
9.4. Company 4
9.5 Company 5
9.6. Company 6
9.7. Company 7
9.8. Company 8
9.9. Company 9
9.10. Company 10
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