- Infrared (IR) Spectroscopy
- Visible/Ultraviolet (UV) Spectroscopy
- Flame Spectroscopy
- Near-infrared Spectroscopy
- X-Ray Spectroscopy
- Nuclear Magnetic Resonance Spectroscopy (NMR Spectroscopy)
Molecular Spectroscopy Market size was valued at USD 5.8 billion in 2022 and is poised to grow at a CAGR of 7.23% from 2023-2029. Spectroscopy is the study of quantitative and qualitative characteristics of molecules or atoms by the use of absorption, emission, or scattering of electromagnetic radiation. Interaction of electromagnetic radiation with matter can cause redirection and or transition of energy levels between the energy levels of molecules or atoms. These properties vary from molecule to molecule and help in the identification of different molecules. The global molecular spectroscopy market is characterized by the presence of many market players and is highly fragmented. Market players are adopting innovation of new products and geographically expanding their market to get a competitive advantage. For instance, In August 2017, PerkinElmer, Inc., launched Spectrum Two N FT-NIR system designed for use in spectroscopy analysis on a wide range of food, industrial, and pharmaceutical samples. Furthermore, to increase their R&D and product portfolio companies adopt strategies such as acquisitions and mergers. For instance, in July 2017, Agilent Technologies Inc. acquired Cobalt Light Systems, a provider of Raman spectroscopic instruments for the pharmaceutical industry, applied markets and public safety to expand the market share.
Fastest Growing Market
Global market is driven by the rapid spread of molecular spectroscopy into various application areas, and growth in pharmaceutical and biotechnological industries worldwide. In addition, technological advances in spectroscopy that helps in analysis of nucleic acids, proteins and increase in R&D activities that uses molecular analysis are expected to boost the global market over the forecast period. However, high cost of devices and lack of skilled professionals to use the molecular spectroscopy are expected to hamper the growth of the market during the forecast period.
The molecular spectroscopy market size was valued USD 5.8 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Avantes (Netherlands) Agilent Technologies (U.S.) Bruker Corporation (U.S.) Ibsen Photonics A/S (Denmark) Carl Zeiss AG (Germany) Magritek (New Zealand)