Molecular Spectroscopy Market by Technology (NMR (FT, Continuous Wave), UV-Visible (Array-based, Dual-beam), IR (Terahertz, Benchtop), NIR (FT-NIR), Raman (SERS, TERS, FT Raman)), Application (Pharmaceutical, Food, Biotechnology) - Global Forecast to 2022
“Molecular spectroscopy market is projected to grow at a CAGR of 6.9%”
The global molecular spectroscopy market is estimated to grow at a CAGR of 6.6% from 2017 to 2022, to reach USD 6.85 billion. The key factors driving the growth of the overall molecular spectroscopy market include the rising food safety concerns, increasing use of molecular spectroscopy in environmental screenings, growing popularity of molecular spectroscopy techniques in pharmaceutical and biotechnology industries, and technological advancements in molecular spectroscopy. However, the high cost of molecular spectroscopy systems is likely to restrain the growth of the market during the forecast period.
“The pharmaceutical application is projected to grow at the highest CAGR during the forecast period”
Based on application, the molecular spectroscopy market is segmented into pharmaceutical applications, environmental testing, food and beverage testing, biotechnology and biopharmaceutical application, academic research and other applications. During the forecast period, the pharmaceutical application is expected to grow at the highest CAGR. This growth is mainly due to the growing importance of molecular spectroscopy in various stages of drug development and increasing R&D in pharmaceutical industries.
“Asia Pacific to witness the highest growth during the forecast period”
Asia Pacific is expected to grow at the highest CAGR in the global molecular spectroscopy market during the forecast period of 2017–2022. Thriving biotechnology market in China, growing focus on environmental protection, growing biomedical and medical research in Japan, and rising food safety concerns in India are expected to drive market growth during the forecast period.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–52%, Tier 2-30%, and Tier 3–18%
• By Designation – C-level–45%, Director Level–30%, Others–25%
• By Region – North America–36%, Europe–24%, Asia-Pacific–29%, RoW–11%
Some of the major players in the molecular spectroscopy market include Bruker (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), and Shimadzu Corporation (Japan).
The report analyzes the molecular spectroscopy market and aims at estimating the market size and the future growth potential of this market based on various segments such as type of molecular spectroscopy, technology, application, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global molecular spectroscopy market
• Service Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the global molecular spectroscopy market
• Market Development: Comprehensive information about the lucrative emerging markets by type of technology, application, and region
• Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global molecular spectroscopy market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and services of leading players in the market