Burlingame, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global molecular spectroscopy market is estimated to be valued at US$ 2,750.7 million in 2022 and is expected to exhibit a CAGR of 4.2% during the forecast period (2022-2030).
Analysts’ Views on Global Molecular Spectroscopy Market:
The molecular spectroscopy is used in various fields such as pharmaceuticals, digital technology thus rising demand for molecular spectroscopy in digital field is expected to drive the market growth over the forecast period. For instance, in August 2022, trinamiX GmbH a provider of biometric and infrared sensing solutions, introduces a near-infrared (NIR) spectroscopy module for smartphone integration as well as an all-in-one, easy-to-integrate face authentication solution in collaboration with Qualcomm Technologies, a provider of wireless technology.
Key Trends and Analysis of the Global Molecular Spectroscopy Market:
Global Molecular Spectroscopy Market- Driver
Increasing adoption of organic strategies such as product launch
Global Molecular Spectroscopy Market is expected to drive the market growth over the forecast period due to the increasing adoption of organic strategies such as product launches by key players in the market to expand product portfolio. For instance, in May 2022, Bruker Corporation, a pharmaceutical company, announced the launch of 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its preclinical magnetic resonance imaging (MRI) systems portfolio. The Maxwell 7 Tesla and 9.4 Tesla magnets eliminate the need for liquid Helium or Nitrogen replenishment and provide high magnetic field sensitivity and resolution for advanced preclinical MRI and Positron emission tomography–magnetic resonance imaging (PET/MRI) research.
Global Molecular Spectroscopy Market- Restrain
Shortage of skilled professionals
The skilled professionals are required for various purposes such as method developments, validation, operation thus the shortage of skilled professional can hamper the growth of the market over the forecast period. For instance, in August 2021, according to data provided by Information and Communications Technology Council., demand for skilledprofessionals was on the rise, exceeding 60,000 in May, up from less than 50,000 in December 2019.
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Global Molecular Spectroscopy Market- Opportunity
The increasing demand of molecular spectroscopy instruments in various field
The molecular spectroscopy instruments were used in various fields such as pharmaceuticals, dairy, food and others thus increasing use of molecular spectroscopy instruments in various fields creates opportunity for market growth. For instance, in January 2022, Wasatch Photonics, supplier of Gratings, Spectroscopy equipment, announced a partnership with Nikalyte Ltd., specialise in nanoparticle deposition systems, to facilitate the evaluation and testing of new Surface-enhanced Raman spectroscopy SERS substrates for trace detection of materials using narcotic, food safety, pharmaceutical, environmental and biological analytical applications. Surface-enhanced Raman spectroscopy (SERS) is a special form of Raman spectroscopy.
Global Molecular Spectroscopy Market Cross Sectional Analysis:
By Application, the Pharmaceutical applications segment is dominant in the Asia Pacific market due to the increasing adoption of organic strategies such as product launches by key players to expand product portfolio. For instance, in March 2021, JASCO Corporation, a company based in Japan and specialized in the development of precision instruments, announced the launch of a new range of fluorescence spectrophotometers. The FP-8050 Series includes four instruments that cover the entire range of applications for biological, environmental, chemical, and materials analysis.
Global Molecular Spectroscopy Market: Key Developments
In January 2022, KPM Analytics, Inc., a Union Park Capital portfolio company, announced it had acquired Bruins Instruments, a German-based manufacturer of high-resolution near-infrared (NIR) reflectance and transmission analyzers.
In March 2022, Shimadzu Scientific Instruments, a provider of f analytical instruments, introduces the IRXross Fourier transform infrared (FTIR) spectrophotometer. This mid-level FTIR model achieves upper-end performance including high-level S/N ratio, resolution, measurement speed. The enhanced S/N (signal-to-noise) ratio of the IRXross enables analysts to obtain high-quality data in less time.
In March 2022, PerkinElmer, Inc. a pharmaceutical company, launched its new FT-IR liquid food testing platform including instruments, software and streamlined workflows. QA300 TM FT-IR system for wine and LactoScope 300TM FT-IR system for liquid dairy include cloud based-software and streamlined workflows to deliver results in under 45 seconds
In May 2022, Bruker Corporation, a pharmaceutical company, launched the minispec Droplet Size Analyzer 2.0 in its minispec nuclear magnetic resonance (NMR) portfolio. Based on time domain (TD)-NMR technology, this new launch offers a fast, accurate, and non-invasive method to support texture and stability analysis in food and cosmetics applications.
On July 6, 2022, Bruker Corporation, a pharmaceutical company, launched PhenoRisk PACS RuO, a research-use-only NMR test for molecular phenomics research on ‘Long COVID’ patients’ blood samples. PhenoRisk PACS RuO is an automated, easy-to-use kit, and helps to investigate the complex metabolomic signatures induced by SARS-CoV-2.
Key Market Takeaways:
The global molecular spectroscopy market is expected to exhibit a CAGR of 4.2% during the forecast period. Due to increasing adoption of organic strategies such as product launches by key players in the market to increase their product portfolio and presence in the market. For instance, in October, 2021, Bruker Corporation, a pharmaceutical company, launched of the large-sample Dimension IconIR nanoscale infrared spectroscopy and chemical imaging system. It combines Bruker’s industry-leading Dimension Icon AFM and nano IR photothermal AFM-IR technology to establish new standards in chemical and material property mapping with sub-10nm chemical imaging resolution.
Among Type, the NMR Spectroscopy segment is dominant due to the increasing adoption of organic strategies such as product launches to expand the product portfolio is expected to drive the segment growth over the forecast period. For instance, in November 2022, Bruker Corporation, a pharmaceutical company, announced the launch of MOBILE-IR II – a portable, battery-powered Fourier Transform Infrared (FT-IR) spectrometer that delivers the high spectral performance of a laboratory bench top system. This mobile spectrometer is used to bring routine and advanced FT-IR applications to the field.
On the basis of application, the Pharmaceutical application segment is expected to hold a dominant position over the forecast period owing to increasing adoption of organic strategies such as product launches by key players in the market to expand product portfolio. For instance, Viavi Solutions Inc., a network test, measurement and assurance technology company, introduced the MicroNIR PAT-L and PAT-Lx (PAT-L/Lx) near infrared spectrometers for in-line liquid process monitoring. The PAT-L/Lx extends the MicroNIR product line of compact near infrared spectrometers for real-time, rapid process monitoring.
Competitive Landscape:
Key players operating in the global molecular spectroscopy market include Thorlabs Inc., VIAVI Solutions Inc., Keit Ltd., ABB Ltd., PerkinElmer Inc., Shimadzu Corporation, Horiba Ltd., Jeol Ltd., Jasco Inc., Danaher Corporation, Merck KgaA, Bruker Corporation, Agilent Technologies, Waters Corporation, Bio-Rad Laboratories Inc., Magritek Ltd., Thermo Fischer Scientific Inc., and Buck Scientific Instrument Manufacturing Company
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Market Segmentation:
- Global Molecular Spectroscopy Market, By Type of Spectroscopy:
- NMR Spectroscopy
- Raman Spectroscopy
- UV-visible Spectroscopy
- Mass Spectroscopy
- Infra-red Spectroscopy
- Near Infrared Spectroscopy
- Other Types of Spectroscopy
- Global Molecular Spectroscopy Market, By Application:
- Pharmaceutical Applications
- Food and Beverage Testing
- Biotechnology and Biopharmaceutical Applications
- Environmental Testing, Academic Research
- Other Applications
- Global Molecular Spectroscopy Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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