Molecular Spectroscopy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Molecular Spectroscopy Market is segmented by Type of Spectroscopy (NMR Spectroscopy, Raman Spectroscopy, UV-visible Spectroscopy, Mass Spectroscopy, Infrared Spectroscopy, Near-infrared Spectroscopy, and Other Types of Spectroscopy), Application (Pharmaceutical Applications, Food, and Beverage Testing, Biotechnology and Biopharmaceutical Applications, Environmental Testing, Academic Research, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

molecular spectroscopy market
Study Period:

2018-2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.8 %

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Market Overview

The molecular spectroscopy market is projected to register a CAGR of 6.8% during the forecast period, with a revenue of approximately USD 6,350 million in 2020, and is expected to reach USD 9,545 million by 2026. The major factors that are driving the growth of the market include the rapid adoption in the pharmaceutical industry, penetration of MS technology in various verticals, and increased emphasis on the discovery of newer molecules by pharmaceuticals.

The growing COVID-19 has also shown a positive impact on the market as scientists are increasing the applications of Raman Spectroscopy to COVID-19 testing. For instance, a Northern Arizona University (NAU) research team, was found developing a new test technology for SARS-CoV-2 using single-molecule surface-enhanced Raman spectroscopy (SM-SERS). The project was namely “Development of a New Test for SARS-CoV-2 Using Single-Molecule Surface-Enhanced Raman spectroscopy” that was been awarded a USD 200,000 grant from the National Science Foundation’s Rapid Response Research (RAPID) funding program. Therefore, with the increase in research and development activities by pharmaceuticals, related to drug discovery, the demand for molecular spectroscopy is consistently expected to grow over the forecast period.

Molecular spectroscopy is being used in the field of R&D of pharmaceutical and other biotechnology products and one of the molecular spectroscopy types used in R&D is near-infrared spectroscopy (NIR). In recent years, NIR spectroscopy has also gained a wide appreciation within the pharmaceutical industry due to its major advantages over other analytical techniques that includes an easy sample preparation and the expectation of chemical and physical sample parameters from one single spectrum. Therefore the rising affinity toward this technology has been widely adopted and has resulted in the high growth of the market.

Furthermore, molecular spectroscopy is also found to be widely adopted across different application sectors, including pharmaceuticals and many others. Raman Spectroscopy has thus proven to be a strong analytical technique for drug discovery and pharmaceutical development. It is being used to study the structural activity relationships and to optimize the reaction conditions and other parameters, such as polymorph and formulation screening, which lead to the scaling up required for the transfer of drug compounds from discovery to development. Hence the studied market is expected to grow rapidly during the forecast period.

Scope of the Report

As per the scope of the report, molecular spectroscopy is the qualitative and quantitative study of molecules by observing their interaction with various frequencies and energy, and in another way, it is the study of absorption of light by molecules. It is analyzed by ultraviolet (UV) light, visible light, and infrared radiations using an instrument called a spectrometer. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The molecular spectroscopy market is segmented by type of spectroscopy (NMR spectroscopy, Raman spectroscopy, UV-visible spectroscopy, mass spectroscopy, infrared spectroscopy, near-infrared spectroscopy, and other types of spectroscopy), application (pharmaceutical applications, food and beverage testing, biotechnology and biopharmaceutical applications, environmental testing, academic research, and other applications), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Type of Spectroscopy
NMR Spectroscopy
Raman Spectroscopy
UV-visible Spectroscopy
Mass Spectroscopy
Infrared Spectroscopy
Near-infrared Spectroscopy
Other Types of Spectroscopy
By Application
Pharmaceutical Applications
Food and Beverage Testing
Biotechnology and Biopharmaceutical Applications
Environmental Testing
Academic Research
Other Applications
Geography
North America
United States (By Type of Spectroscopy and By Application)
Canada (By Type of Spectroscopy and By Application)
Mexico (By Type of Spectroscopy and By Application)
Europe
Germany (By Type of Spectroscopy and By Application)
United Kingdom (By Type of Spectroscopy and By Application)
France (By Type of Spectroscopy and By Application)
Italy (By Type of Spectroscopy and By Application)
Spain (By Type of Spectroscopy and By Application)
Rest of Europe (By Type of Spectroscopy and By Application)
Asia-Pacific
China (By Type of Spectroscopy and By Application)
Japan (By Type of Spectroscopy and By Application)
India (By Type of Spectroscopy and By Application)
Australia (By Type of Spectroscopy and By Application)
South Korea (By Type of Spectroscopy and By Application)
Rest of Asia-Pacific (By Type of Spectroscopy and By Application)
Middle East and Africa
GCC (By Type of Spectroscopy and By Application)
South Africa (By Type of Spectroscopy and By Application)
Rest of Middle East and Africa (By Type of Spectroscopy and By Application)
South America
Brazil (By Type of Spectroscopy and By Application)
Argentina (By Type of Spectroscopy and By Application)
Rest of South America (By Type of Spectroscopy and By Application)

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Key Market Trends

NMR Spectroscopy is Expected to Observe Good Growth Over the Forecast Period

The Nuclear Magnetic Resonance (NMR) spectroscopy is an analytical chemistry technique used in quality control and research for determining the content and purity of a sample as well as its molecular structure. The advantages of NMR spectroscopy are that it requires less sample preparation and a non-destructive method, thus retains the molecules being examined.

With the increase in COVID-19, there is an increasing demand for research and development activities by pharmaceutical companies that have stimulated the demand for drug discovery and development, and hence the market is significantly increasing over the years.

In the course of recent years, NMR spectroscopy has become the leading technique for determining the structure of organic compounds and it has its wide usage in application areas, like pharmaceuticals, biotechnology and biopharmaceuticals, food and beverage testing, environmental testing, and research institutes. In addition, NMR spectroscopy is also increasingly being used in biochemical and biological application areas, including hit and lead discovery, metabolite profiling, and in-vivo spectroscopy (MRS), and imaging (MRI).

Many new developments have been observed in NMR spectroscopy, which is driving the much-needed improvement in sensitivity and versatility that is expanding the number of applications. In October 2020 the company Bruker Corporation announced the European launch of Fourier 80 system which is a Nuclear Magnetic Resonance (FT-NMR) benchtop spectrometer. Hence there are also many new developments that is expected to witness significant growth during the forecast period.

Percentage of Pharmaceutical Spending, 2019

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North America is Expected to Witness a High Growth Over the Forecasted Period

North America is found driving the market due to increased usage of molecular spectroscopy in the pharmaceutical sector, increased funding for environmental testing, rising concerns about food safety and favourable government initiatives and policies.

Since the COVID-19 virus outbreak, due to the lockdown and the production and supply chain of spectroscopic instruments has been limited. Hence, the studied market is expected to be impacted during the pandemic. According to the article published on the National Institute of Health 2020, spectroscopy is being widely used for detecting and monitoring the Coronavirus (COVID-19). However, the local players have experienced an increase in the research and development activities related to drug discovery against COVID-19 by various pharmaceutical companies.

For instance, according to the Pharmaceutical Research and Manufacturers Association(PhRMA), the United States is the largest for the biopharmaceuticals market, accounting for one-third of the global market and a world leader in biopharmaceutical R&D. Also the United States has the world’s most supportive domestic environment for the research, development, and commercialization of pharmaceuticals with minimal market barriers. Thus, the use of the spectroscopic technique in drug discovery and development in the United States is expected to rise over the years.

In Canada, There is also presence of many pharma companies that continues to play a key role in propelling the growth of the market.

In January 2021, the company numares AG and Bruker Corporation had announced the collaboration agreement for developing novel diagnostics tests by utilizing NMR Spectroscopy.

In Nov 2018, Agilent Technologies Inc., had also launched the Cary 3500 UV-Visible Spectrophotometer, designed for research communities in life sciences, pharma, and biopharma, that helps by simplifying the analyses, optimize laboratory productivity and finally lead to the development of new therapeutics. Thus, the increasing R&D activities in drug discovery and development in pharmaceutical companies in the country, along with the new product launches by major players in the United States, are expected to drive the molecular spectroscopy market in the country during the forecast period.

Molecular Spectroscopy Market

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Competitive Landscape

The market for molecular spectroscopy is moderately competitive. With the growing applications of molecular spectroscopy, new players are looking forward to entering the market. In terms of the market share, few companies, such as Thermofisher Scientific, Inc, Agilent, Bruker, and Danaher, have better records from the past few years. The players are also involved in activities like mergers, acquisitions, joint ventures, partnerships, and collaborations. These activities help in increasing the influence of the players in the molecular spectroscopy market, eventually increasing the market growth.

Recent Developments

In April 2020, Agilent Technologies has launched the handled Raman Spectroscopy instrument. The new Agilent Vaya Raman raw material identity verification system is a handheld instrument that accelerates quality control testing in the pharmaceutical and biopharmaceutical industries.

In October 2020, Bruker Corporation has launched the high-performance Fourier 80 system, a next-generation, 80 MHz Fourier Transform Nuclear Magnetic Resonance (FT-NMR) benchtop spectrometer in Europe.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rapid Adoption in Pharmaceutical Industry

      2. 4.2.2 Penetration of MS Technology in Various Verticals

      3. 4.2.3 Increased Emphasis for Discovery of Newer Molecules by Pharmaceuticals

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Maintenance and Installation Charges

      2. 4.3.2 Need of Technically Skilled Personnel

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type of Spectroscopy

      1. 5.1.1 NMR Spectroscopy

      2. 5.1.2 Raman Spectroscopy

      3. 5.1.3 UV-visible Spectroscopy

      4. 5.1.4 Mass Spectroscopy

      5. 5.1.5 Infrared Spectroscopy

      6. 5.1.6 Near-infrared Spectroscopy

      7. 5.1.7 Other Types of Spectroscopy

    2. 5.2 By Application

      1. 5.2.1 Pharmaceutical Applications

      2. 5.2.2 Food and Beverage Testing

      3. 5.2.3 Biotechnology and Biopharmaceutical Applications

      4. 5.2.4 Environmental Testing

      5. 5.2.5 Academic Research

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States (By Type of Spectroscopy and By Application)

        2. 5.3.1.2 Canada (By Type of Spectroscopy and By Application)

        3. 5.3.1.3 Mexico (By Type of Spectroscopy and By Application)

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany (By Type of Spectroscopy and By Application)

        2. 5.3.2.2 United Kingdom (By Type of Spectroscopy and By Application)

        3. 5.3.2.3 France (By Type of Spectroscopy and By Application)

        4. 5.3.2.4 Italy (By Type of Spectroscopy and By Application)

        5. 5.3.2.5 Spain (By Type of Spectroscopy and By Application)

        6. 5.3.2.6 Rest of Europe (By Type of Spectroscopy and By Application)

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China (By Type of Spectroscopy and By Application)

        2. 5.3.3.2 Japan (By Type of Spectroscopy and By Application)

        3. 5.3.3.3 India (By Type of Spectroscopy and By Application)

        4. 5.3.3.4 Australia (By Type of Spectroscopy and By Application)

        5. 5.3.3.5 South Korea (By Type of Spectroscopy and By Application)

        6. 5.3.3.6 Rest of Asia-Pacific (By Type of Spectroscopy and By Application)

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC (By Type of Spectroscopy and By Application)

        2. 5.3.4.2 South Africa (By Type of Spectroscopy and By Application)

        3. 5.3.4.3 Rest of Middle East and Africa (By Type of Spectroscopy and By Application)

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil (By Type of Spectroscopy and By Application)

        2. 5.3.5.2 Argentina (By Type of Spectroscopy and By Application)

        3. 5.3.5.3 Rest of South America (By Type of Spectroscopy and By Application)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Agilent Technologies Inc

      2. 6.1.2 Bruker Corporation

      3. 6.1.3 Danaher Corporation

      4. 6.1.4 Jasco Inc.

      5. 6.1.5 Jeol Ltd.

      6. 6.1.6 Horiba Ltd.

      7. 6.1.7 Shimadzu Corporation

      8. 6.1.8 Thermo Fischer Scientific Inc.

      9. 6.1.9 Merck KGaA

      10. 6.1.10 PerkinElmer Inc.

      11. 6.1.11 ABB Ltd.

      12. 6.1.12 Keit Ltd.

      13. 6.1.13 VIAVI Solutions Inc.

      14. 6.1.14 Thorlabs, Inc.

      15. 6.1.15 Buck Scientific Instrument Manufacturing Company

      16. 6.1.16 Magritek Ltd

      17. 6.1.17 Bio-Rad Laboratories Inc.

      18. 6.1.18 Waters Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Molecular Spectroscopy Market market is studied from 2018 - 2026.

The Molecular Spectroscopy Market is growing at a CAGR of 6.8% over the next 5 years.

The Molecular Spectroscopy Market is valued at 6350 Million USD in 2018.

The Molecular Spectroscopy Market is valued at 9545 Million USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Danaher Corporation
  • Agilent Technologies
  • Bruker Corporation
  • Horiba Ltd.
  • Thermo Fisher Scientific

Are the major companies operating in Molecular Spectroscopy Market.

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