Molecular Spectroscopy Market – Technology [Nuclear Magnetic Resonance Spectroscopy (Fourier-transform NMR, Solid-state NMR), UV-Visible (Dual-beam UV-visible, Single-beam UV-visible), Infrared, Near-infrared], End-user, Global Forecast (2024 – 2032)

Molecular Spectroscopy Market – Technology [Nuclear Magnetic Resonance Spectroscopy (Fourier-transform NMR, Solid-state NMR), UV-Visible (Dual-beam UV-visible, Single-beam UV-visible), Infrared, Near-infrared], End-user, Global Forecast (2024 – 2032)

Molecular Spectroscopy Market Size

Molecular Spectroscopy Market size was valued at USD 4 billion in 2023 and is projected to reach USD 6.7 billion by 2032 growing at a CAGR of 6%, driven by high adoption of molecular spectroscopy technologies by the pharmaceutical companies that are increasingly adopting spectroscopic techniques throughout the drug development process.

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These techniques, including infrared spectroscopy, Raman spectroscopy, and nuclear magnetic resonance (NMR) spectroscopy, are utilized for drug discovery, characterization, formulation, and quality control. As pharmaceutical companies strive for improved drug efficacy, safety, and quality, molecular spectroscopy plays a crucial role in analyzing molecular structures, identifying impurities, and optimizing formulations. Moreover, rising research and development activities focused on the creation of novel drugs are fueling the demand for spectroscopic technologies, further driving the market growth.

Molecular spectroscopy in the healthcare industry refers to the application of spectroscopic techniques to analyze and characterize biological molecules, tissues, and medical samples for diagnostic, therapeutic, and research purposes. Molecular spectroscopy encompasses a range of analytical methods that exploit the interaction between electromagnetic radiation and molecular structures to provide valuable insights into the composition, structure, and behavior of biological materials at the molecular level.
 

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Molecular Spectroscopy Market Trends

• Molecular spectroscopy provides valuable insights into the chemical structure, interactions, and properties of drug candidates and target molecules, accelerating the drug discovery process and reducing time-to-market.
• With advancements in spectroscopic instrumentation and automation technologies, pharmaceutical companies and contract research organization are able to conduct high-throughput screening and combinatorial chemistry experiments more efficiently, driving innovation and productivity in drug research and development. Therefore, the increasing research and development activities focusing on the creation of novel drugs contributes to the market growth.
• Further, technological advancements in molecular spectroscopy are contributing to market growth. Emerging technologies such as surface-enhanced Raman spectroscopy (SERS), terahertz spectroscopy, and two-dimensional infrared (2D-IR) spectroscopy offer improved sensitivity, spatial resolution, and molecular specificity compared to traditional spectroscopic methods.
• These advancements enable faster data acquisition, higher signal-to-noise ratios, and enhanced spectral resolution, enhancing the performance and versatility of molecular spectroscopy techniques. As a result, molecular spectroscopy is increasingly being adopted in pharmaceutical research, clinical diagnostics, and quality control applications, thereby driving the overall growth of this market.

Molecular Spectroscopy Market Analysis

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Based on technology, the market is segmented into nuclear magnetic resonance (NMR) spectroscopy, UV-visible spectroscopy, infrared (IR) spectroscopy, near-infrared spectroscopy, Raman spectroscopy, and other technologies. The nuclear magnetic resonance spectroscopy is further sub-segmented into fourier-transform NMR spectroscopy (FTS), solid-state NMR spectroscopy (SSNMR), and continuous-wave (CW) NMR spectroscopy. The nuclear magnetic resonance (NMR) spectroscopy segment dominates the market with 30.6% of market share in 2023.

• Nuclear Magnetic Resonance (NMR) spectroscopy has emerged as the leading technique in the market owing to its high precision and ability to provide detailed structural information about molecules.
• Its versatility allows for the analysis of a wide range of sample types, from liquids to solids, and diverse compounds, including small organic molecules and large biomolecules like proteins and nucleic acids, thereby fostering the growth of this segment.
• NMR spectroscopy is a non-destructive analytical technique, allowing samples to be recovered and reused after analysis. Additionally, it provides quantitative information about the concentration and composition of analytes in a sample, making it suitable for quality control, purity assessment, and quantitative analysis in pharmaceuticals, chemistry, and biotechnology.

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Based on end-user, the molecular spectroscopy market is segmented into pharmaceutical & biotechnology companies, academic and research institutes, CROs, and other end-users. The pharmaceutical & biotechnology companies segment was valued at USD 2.7 billion in 2023.

• Pharmaceutical & biotechnology companies heavily rely on molecular spectroscopy techniques for various stages of drug discovery and development.
• Spectroscopic techniques aid in lead identification, compound optimization, formulation development, and quality control, accelerating the drug development process and ensuring the safety and efficacy of pharmaceutical products.
• Furthermore, the increasing prevalence of diseases, rising demand for novel therapeutic drugs, growing research and development activities, and increased adoption and application of spectroscopic technologies in pharmaceutical & biotechnology industries supports the growth of this segment.

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North America molecular spectroscopy market was valued at USD 1.7 billion in 2023 and is anticipated to grow at CAGR of 5.8% over the forecast period.

• The region has a large number of pharmaceutical, biotechnology, and research institutions that heavily invest in advanced analytical technologies such as molecular spectroscopy. These industries have a strong demand for spectroscopic techniques for drug discovery, development, and quality control processes, driving the adoption of molecular spectroscopy systems.
• Additionally, North America boasts a robust healthcare infrastructure and a well-established regulatory framework that mandates stringent quality control standards for pharmaceutical and biomedical products.
• Moreover, North America is at the forefront of technological innovation, with significant investments in research and development. This fosters the development of cutting-edge spectroscopic instrumentation and methodologies, making North America a hub for technological advancements in the field of molecular spectroscopy.

Molecular Spectroscopy Market Share

The molecular spectroscopy industry is characterized by the presence of several key players competing for market share. These key players in this market includes Thermo Fisher Scientific Inc., Agilent Technologies Inc., and Bruker Corporation These players are actively engaged in strategic initiatives such as mergers and acquisitions, partnerships, product launches, and research and development activities to strengthen their market position and gain a competitive edge.

Molecular Spectroscopy Market Companies

Prominent players operating in the molecular spectroscopy industry include

• Agilent Technologies Inc.
• Bruker Corporation
• Danaher Corporation
• Horiba Ltd.
• Jasco Inc.
• Jeol Ltd.
• Merck KGaA
• PerkinElmer Inc.
• Thermo Fisher Scientific Inc.
• VIAVI Solutions Inc.

Molecular Spectroscopy Industry News

• In March 2021, JASCO launched completely new range of fluorescence spectrophotometers (FP-8050 Series). This strategic launch helped the company to boost its revenue by enhancing their product portfolio.
• In October 2020, Bruker Corporation launched high-performance Fourier 80 system, a next-generation, 80 MHz Fourier Transform Nuclear Magnetic Resonance (FT-NMR) benchtop spectrometer in Europe. This strategic initiative helped the company to enhance its offerings and revenue generation.

The molecular spectroscopy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments

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Market, By Technology

• Nuclear magnetic resonance (NMR) spectroscopy
  • Fourier-transform NMR spectroscopy (FTS)
  • Solid-state NMR spectroscopy (SSNMR)
  • Continuous-wave (CW) NMR spectroscopy 
• UV-visible spectroscopy
  • Dual-beam UV-visible spectroscopy
  • Single-beam UV-visible spectroscopy
  • Array-based UV-visible spectroscopy
• Infrared (IR) spectroscopy
  • Mid-wave infrared spectroscopy
  • Short-wave infrared spectroscopy
  • Far-wave infrared spectroscopy
• Near-infrared spectroscopy
  • Fourier-transform 
  • Scanning
  • Filter or AOTF
• Raman spectroscopy
  • By sampling technique
    • Surface-enhanced Raman scattering
    • Tip-enhanced Raman scattering
    • Other sampling techniques
  • By type
    • Micro-Raman spectroscopy
    • Probe-based Raman spectroscopy
    • Fourier tranform-Raman spectroscopy
• Other technologies

Market, By End-user

• Pharmaceutical & biotechnology companies
• Academic and research institutes
• CROs
• Other end-users

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa