+1 334-472-2091
|Molecular Spectroscopy Market Size (2020 - 2027)
The molecular spectroscopy market size at the global level was worth USD 5 billion in 2020 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.
MARKET DRIVERS
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 2020, 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.
MARKET RESTRAINTS
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.
Segment Analysis
The global molecular spectroscopy market is based on technology and application.
UV-Visible Spectroscopy
Infrared (IR) Spectroscopy
IR Spectroscopy, by Spectrum
IR Spectroscopy, by Type
Near-infrared Spectroscopy
Color Measurement Spectroscopy
Raman 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.
Pharmaceutical Applications
Biotechnology & Biopharmaceutical Applications
Food & Beverage Testing
Environment Testing
Academic Research
Other Applications
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.
Regional Analysis
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 2021-2027. 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
1.2. Assumptionsa
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
6.4.1. Benchtop
6.4.2. Hyphenated
6.4.3. IR Microscopy
6.4.4. Portable & Handheld
6.4.5. Terahertz
6.5. Near-infrared Spectroscopy
6.5.1. Scanning
6.5.2. Fourier-transform
6.5.3. Filter or AOTF
Color Measurement Spectroscopy
Raman 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
8.1.1. U.S.A
8.1.2. Canada
8.1.3. Mexico
8.2. Europe
8.2.1. Italy
8.2.2. Spain
8.2.3. Russia
8.2.4. Germany
8.2.5. UK
8.2.6. France
8.2.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Japan
8.3.2. South Korea
8.3.3. China
8.3.4. India
8.3.5. Australia & New Zealand
8.3.6. Rest of Asia-Pacific
8.4. Rest of the World
8.4.1. Middle East
8.4.2. Africa
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
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Data Collection
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
Data Fusion
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
Data Analysis
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Verification
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.
Our Team Will Assist You in What You Are Looking For
+1 334-472-2091
[email protected]