Global Molecular Spectroscopy Market by Technology, Applications, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis

The Global Molecular Spectroscopy Market is estimated to be USD 6.73 Bn in 2021 and is expected to reach USD 9.4 Bn by 2026, growing at a CAGR of 6.9%.





Market Dynamics

Major factors that drive the market growth are rapid technological advancements and innovations in molecular spectroscopy systems in the pharmaceutical industry, increasing penetration of MS technology in various verticals, and rising emphasis on the discovery of newer molecules by pharmaceutical companies. Also growing demand for an efficient and accurate imaging system, increasing adoption of hybrid imaging technologies such as PET/CT, and growing population are also the prime factors that drivers the growth of the molecular Spectroscopy market. Furthermore, the rising adoption of Molecular Spectroscopy in emerging economies such as China, India, and others, also creates new opportunities for the molecular spectroscopy market in the coming years.

However, the involvement of higher costs in the research and development and lack of skilled professionals are the key restraints factors that may create hindrances in the growth of the market.

Market Segmentation

The Global Molecular Spectroscopy Market is segmented further based on Technology, Applications, and Geography.

By Technology, the market is classified into Nuclear Magnetic Resonance (NMR) spectroscopy, UV-visible spectroscopy, Infrared (IR) spectroscopy, Near-Infrared spectroscopy, Color Measurement spectroscopy, Raman spectroscopy, and other technologies like fluorescence spectroscopy and hybrid spectroscopy. Amongst these, the Raman spectroscopy segment is estimated to hold the highest market share.

By Application, the market is classified into pharmaceutical applications, food and beverage testing, biotechnology and biopharmaceutical application, environmental testing, academic research, and other applications. Amongst all, the pharmaceutical application is expected to hold the highest market share.

By Geography, North America is projected to dominate the market.

Recent Developments
1. JASCO Corporation, Japan has launched a completely new range of fluorescence spectrophotometers (FP-8050 Series) that includes five instruments that cover the entire range of applications for biological, environmental, chemical, and materials analysis. - 1st March 2021
2. Shimadzu Corporation and HORIBA Ltd. collaborate on the development and sales of LC-Raman Analytical and Measuring Instruments towards the Commercialization of Analytical and Measuring Instruments that Combine a High-Performance Liquid Chromatograph and a Raman Spectrometer. - 28th August 2020
3. Agilent Technologies has launched the newest instrument (Agilent Vaya Raman raw material identity verification system) in its Raman technology portfolio to accelerate quality control testing in the pharmaceutical and biopharmaceutical industries. - 2nd April 2020

Company Profiles

Some of the companies covered in this report are Advantest Corporation, Bruker Corporation (US), Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Agilent Technologies, Inc., Danaher Corporation, Shimadzu Corporation, Merck KAaG (Merck Group), (Jasco International Co. Ltd.), Horiba Ltd., Analytik Jena AG (Endress+Hauser Group), Ocean Optics, Inc. (Halma plc), B&W Tek Inc. (Metrohm AG), Hitachi Ltd., Oxford Instruments PLC,.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Molecular Spectroscopy Market.
• The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using the Competitive Quadrant, the analyst's Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market