Molecular Spectroscopy Market Analysis

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.

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.

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.