Westford, USA,, May 01, 2023 (GLOBE NEWSWIRE) -- The global fluorescence spectroscopy market size is expected to reach USD 39.5 billion by 2030 and exhibit a CAGR of 7.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand in various fields, such as biotechnology, pharmaceuticals, environmental science and materials science and the increasing use of fluorescence
Government Initiatives and Trends to Promote the Use of Fluorescence Spectroscopy
At a global scale, increasing demand for fluorescent probes and dyes, advancement in technology, growing demand for personalized medicine, and Increasing research activities are several trends promoting the growth of fluorescence spectroscopy.
Several government initiatives are fueling the growth of fluorescence spectroscopy. The NIH is the primary agency of the United States government responsible for biomedical and public health research. As a result, the NIH has been investing in research programs and funding grants related to fluorescence spectroscopy, which is expected to drive market growth in the US.
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Pharmaceutical and Biotechnology End-user Segment Demand to Grow Substantially in the Forecast Period
Pharmaceutical and Biotechnology end-user types dominated the global market due to fluorescent spectroscopy's use in drug discovery. It is also increasing the need for fluorescence spectroscopy in developing drugs and quality control. In addition, the market report suggests there is a growing need for effective and efficient drug development processes followed by an increasing demand for personalized medicines.
Molecular and Cell Biology is the Leading Application Segment
In terms of application, the molecular and cell biology segment is the leading segment due to the demand for durable packaging. In addition, the increasing demand for fluorescent probes and dyes in molecular imaging, cellular analysis, and drug discovery will drive the market's growth.
North America and Asia-Pacific are the leading Markets for Using Clean Energy
Region-wise, North America is one of the largest growing markets with a huge emphasis on drug discovery and molecular imaging. The presence of a large number of pharmaceutical and biotechnology companies, academic research institutes, and government funding for research and development activities in the region.
Asia Pacific is projected to be the fastest-growing region due to increasing investment in research and development, the growing pharmaceutical and biotechnology industry and the rising demand for personalised medicine.
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Browse in-depth TOC on " Fluorescence Spectroscopy Market "
Pages - 242
Tables - 66
Figures - 75
Fluorescence Spectroscopy Market Report Suggests:
- The global market size is projected to grow by 39.5 billion by 2030 owing to increasing demand at various end-use.
- In terms of application, the molecular and cell biology segment dominates due to the demand to study the interactions between biomolecules such as DNA, RNA, and proteins.
- In terms of type, the pharmaceutical and biotechnology end-user segment is projected to gain more popularity due to its use of it in drug discovery.
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Fluorescence Spectroscopy Market Segmentation:
The global Fluorescence Spectroscopy market report is segmented based on End-user, application, and region.
By End-User
Pharmaceutical and biotechnology companies
- Academic research institutes
- Contract research organizations (CROs)
- Environmental testing companies
- Forensic laboratories
- Food and beverage companies
- Others
By Application
- Molecular and cell biology
- Biochemistry
- Environmental Sciences
- Pharmaceutical and biotechnology research
- Food and beverage testing
- Material sciences
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Fluorescence Spectroscopy Market Major Company Profiles:
- Agilent Technologies, Inc.
- Bruker Corporation
- PerkinElmer, Inc.
- Thermo Fisher Scientific Inc.
- Shimadzu Corporation
- HORIBA, Ltd.
- JASCO Corporation
- Hamamatsu Photonics K.K.
- Hitachi, Ltd.
- GE Healthcare Life Sciences
- BioTek Instruments, Inc.
- FLIR Systems, Inc.
- Photon Technology International, Inc.
- Rigaku Corporation
- Renishaw plc
- B&W Tek, Inc.
- Edinburgh Instruments Ltd.
- Ocean Optics, Inc.
- Kaiser Optical Systems, Inc.
- WITec GmbH
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