Market Overview

The molecular spectroscopy market is poised to grow at a CAGR of 7.0%, over the forecast period, 2019-2024. The prime factors that are responsible for the growth of the market include rapid adoption in the pharmaceutical industry, penetration of MS technology in various verticals, and increased emphasis for the discovery of newer molecules by pharmaceuticals.

• Molecular spectroscopy is heavily used in the field of R&D of pharmaceutical and other biotechnology products. One of the molecular spectroscopy types used in R&D is near-infrared spectroscopy (NIR).
• In recent years, the NIR spectroscopy has gained a wide appreciation within the pharmaceutical industry for raw material testing, product quality control, and process monitoring.
•  The increasing pharmaceutical interest in NIR spectroscopy is probably a direct consequence of its major advantages over other analytical techniques, namely, an easy sample preparation without any pretreatments, the probability of separating the sample measurement position by use of fiber optic probes, and the expectation of chemical and physical sample parameters from one single spectrum.
• This rising affinity toward this technology has been widely adopted and has resulted in the growth of the market.
• Molecular spectroscopy is a technology that is widely adopted across the different application sectors, including pharmaceuticals and many others.
• There have been continuous efforts in the pharmaceutical industry to undertake advanced research and development that is leading to increased adoption of various spectroscopy techniques, over the forecast period.
• There has also been an increase in the number of testing and research facilities, particularly in the field of pharmaceuticals. This will lead to the rise in the demand for laboratory and research equipment, such as molecular spectroscopy and other consumables. Hence, all these factors contribute to the increase of the market studied.

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

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Key Market Trends

NMR Spectroscopy is Expected to Show Highest Growth Over the Forecast Period

Nuclear magnetic resonance spectroscopy, most commonly known as NMR spectroscopy or magnetic resonance spectroscopy (MRS), is a spectroscopic technique that is used to observe local magnetic fields around atomic nuclei. Over the past fifty years, NMR spectroscopy has become the leading technique for determining the structure of organic compounds. Of the spectroscopic methods, it is the only one, for which a complete analysis and interpretation of the entire spectrum is normally expected.

• This has also been found to be non-destructive and is analyzed with the help of modern instruments. Good data may be obtained from samples weighing less than a milligram.
• NMR spectroscopy accounts for a bigger share in the molecular spectroscopy market, due to its wide usage in application areas, like pharmaceuticals, biotechnology and biopharmaceuticals, food and beverage testing, environmental testing, and in research institutes. 
• NMR techniques are also being used successfully in various food systems for quality control and research.
• NMR spectroscopy is used to determine the structure of proteins, amino acids profile, carotenoids, organic acids, lipid fractions, and the mobility of the water in foods. It is also used to identify and quantify metabolites in foods.
• In addition, the NMR spectroscopy is increasingly being used in biochemical and biological application areas, including hit and lead discovery, metabolite profiling, and in vivo spectroscopy (MRS) and imaging (MRI). Thus, this highlights the key areas in this rich array of pharmaceutical applications of NMR spectroscopy. 
• The many new developments seen in the NMR spectroscopy are driving much-needed improvements in sensitivity and versatility.
• This will lead to the expansion of the number of applications of the technique, and hence, growth in the market studied.

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