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Molecular Spectroscopy Market Report by Product Type (Consumables, Instruments), Technology (NMR Spectroscopy, Raman Spectroscopy, UV-Visible Spectroscopy, Mass Spectroscopy, Infrared Spectroscopy, Near-Infrared Spectroscopy, and Others), Application (Pharmaceutical Applications, Food and Beverage Testing, Biotechnology and Biopharmaceutical Applications, Environmental Testing, Academic Research, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5306
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Market Overview:
The global molecular spectroscopy market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 2.7% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | US$ 6.8 Billion |
| Market Forecast in 2032 | US$ 8.7 Billion |
| Market Growth Rate 2024-2032 | 2.7% |
Molecular spectroscopy is identified as the subject of quantum physics that studies quantitative and qualitative characteristics of molecules through dispersion and interaction of electromagnetic radiations with various frequencies and energies. This procedure aids in producing an absorption pattern, or spectrum, in order to deduce compositional or structural information. On account of these properties, molecular spectroscopy is extensively employed in environmental testing, academic research, biotechnology, and food and beverage (F&B) assessments. At present, it is available in varying technology types, including nuclear magnetic resonance (NMR), Raman, ultraviolet (UV)-visible, mass, infrared and near-infrared spectroscopy.
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Molecular Spectroscopy Market Trends:
The widespread adoption of molecular spectroscopy across various industrial verticals, such as food and beverage (F&B), biotechnology, and particularly the healthcare sector, for introducing several efficient and accurate hybrid imaging systems, such as computed tomography (CT) and positron emitted tomography (PET) devices, is primarily driving the market toward growth. Moreover, rapid technological advancements in molecular spectroscopy and their widespread adoption in the pharmaceutical industry to discover newer molecules are also supporting the market growth. As compared to analytical techniques, they offer easier sample preparation and better outcomes from one single spectrum. In line with this, the rising environmental consciousness amongst consumers, along with numerous favorable initiatives undertaken by the government of several countries to promote the employment of molecular spectroscopy for environmental screening, treating wastewater and evaluating polycyclic aromatic hydrocarbons (PAH) levels to inhibit the depletion of natural resources are acting as other growth-inducing factors. Additionally, the rising usage of nuclear magnetic resonance (NMR) spectroscopy technology for implementing quality control, assessing the content purity, and determining the molecular structure of organic compounds is contributing to the market growth. Other factors, such as rising food safety concerns, significant expansion of the biotechnology industry, and the increasing application of Raman spectroscopy for coronavirus disease (COVID-19) testing are positively stimulating the market growth across the globe.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global molecular spectroscopy market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, technology and application.
Breakup by Product Type:
- Consumables
- Instruments
Breakup by Technology:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- NMR Spectroscopy
- Raman Spectroscopy
- UV-Visible Spectroscopy
- Mass Spectroscopy
- Infrared Spectroscopy
- Near-Infrared Spectroscopy
- Others
Breakup by Application:
- Pharmaceutical Applications
- Food and Beverage Testing
- Biotechnology and Biopharmaceutical Applications
- Environmental Testing
- Academic Research
- Others
Breakup by Region:
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- 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Technology, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global molecular spectroscopy market was valued at US$ 6.8 Billion in 2023.
We expect the global molecular spectroscopy market to exhibit a CAGR of 2.7% during 2024-2032.
The increasing demand for molecular spectroscopy for introducing several efficient and accurate hybrid imaging systems, such as Positron Emitted Tomography (PET) and Computed Tomography (CT) devices, is primarily driving the global molecular spectroscopy market.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of molecular spectroscopy for detection and monitoring of coronavirus infection.
Based on the product type, the global molecular spectroscopy market can be categorized into consumables and instruments, where instruments exhibit clear dominance in the market.
Based on the technology, the global molecular spectroscopy market has been segmented into NMR spectroscopy, Raman Spectroscopy, UV-Visible spectroscopy, mass spectroscopy, infrared spectroscopy, near-infrared spectroscopy, and others. Among these, NMR spectroscopy represents the largest market share.
Based on the application, the global molecular spectroscopy market can be bifurcated into pharmaceutical applications, food and beverage testing, biotechnology and biopharmaceutical applications, environmental testing, academic research, and others. Currently, the pharmaceutical applications account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global molecular spectroscopy market 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., and VIAVI Solutions Inc.
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