The global molecular spectroscopy market was worth US$ 7 Billion in the year 2022 and is expected to reach US$ 14 Billion by the year 2032 at a CAGR of 7.2% between 2022 and 2032.
Future Market Insights has entailed these facts with insights in its latest market study entitled ‘Molecular Spectroscopy Market’. Its team of analysts and consultants is incorporating a 360-degree approach regarding its primary, secondary, and tertiary research.
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Rising demand for UV visible molecular adsorption spectroscopy is amongst the widely used technologies in instruments asked for by the industries. Along these lines, several environmental regulations and laws in the US like CWA (Clean Water Act), RCRA (Resource Conservation and Recovery Act), and SDWA (Safe Drinking Water Act) do trigger usage of the molecular spectroscopy devices in several applications like water safety analysis and wastewater treatment.
The other fields of application include chemicals and mining; so as to quantify the outcome on environment. High quality standards do need manufacturing process for including extra operations like verification of the performance characteristics, evaluation, and qualification of diverse features with validation of installation as well as operation of the system. This certainly renders molecular spectroscopy equipment pricy. This is actually a challenging factor for the key participants. This factor could restrain the molecular spectroscopy market in the near future.
Of late, NMR spectroscopy is expected to witness growth on a good note in the near future. It’s one of the analytical chemistry techniques used in research and quality control for determining purity and content of molecular structure and sample. The benefits of NMR spectroscopy are that it revolves around less efforts. Also, it’s a non-destructive method, which does retain molecules that are being examined.
Future Market Insights has walked through these facets with future prospects in its latest market study entitled ‘Molecular Spectroscopy Market’ with its team of analysts and consultants there to ride on 360-degree view with macros and micros well-placed.
“With growing concerns regarding food safety coupled with exponentiation in biotechnology and pharmaceutical verticals, the global molecular spectroscopy market is expected to grow on an astonishing note in the near future”, says an analyst from Future Market Insights.
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Key Takeaways from Molecular Spectroscopy Market
- North America holds the largest market share due to remarkable investments by the policymakers and governing bodies in life sciences and medical sciences in the US.
- Europe is led by France, Spain, Germany, and the UK, as they are housing hordes of pharmacy companies.
- The Asia-Pacific is expected to grow at the fastest rate in the molecular spectroscopy market with countries like India and China opening an arena for opportunities.
Competitive Spectroscopy
- Agilent Technologies Inc., in March 2020, did announce introducing a new-fangled handheld instrument for molecular spectroscopy for adding to ‘Raman Technology’.
- trinamiX GmbH (a wholly-owned subsidiary and spin-off of BASF SE based out of Ludwigshafen), in March 2020, did come up with a novel mobile NIR (near infrared) spectroscopy solution for rendering affordability to spectroscopy tools and also to be accessible to end-users beyond laboratory and factory applications.
- Bruker Corporation, in October 2020, did table high-performance Fourier 80 system in Europe. It comes across as a next-gen 80 MHz FT-NMR (Fourier Transform Nuclear Magnetic Resonance) benchtop spectrometer.
- JASCO Corporation, in March 2021, did launch new-fangled spectrum of fluorescence spectrophotometers (FP-8050 Series) including 5 instruments covering the applications for analyzing environmental, biological, materials, and chemicals.
What does the Report encompass?
- The research study is based on type (infrared spectroscopy, NMR (Nuclear Magnetic Resonance) spectroscopy, color measurement spectroscopy, Raman spectroscopy, NIR (Near-Infrared) spectroscopy, and ultraviolet visible (UV-Vis) spectroscopy), and by application (research institutes, food & beverages testing, pharmaceuticals, environmental testing, biote, and likewise).
- The fact that molecular photophysics & spectroscopy instruments turn out to be effective in detection of hazardous outcomes of industrial activities is bound to help molecular spectroscopy market grow with grandeur in the years to come.
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Key Segment:
By Type:
- Infrared Spectroscopy
- Nuclear Magnetic Resonance (NMR) Spectroscopy
- Color Measurement Spectroscopy
- Raman Spectroscopy
- Near-Infrared (NIR) Spectroscopy
- Ultraviolet Visible (UV-Vis) Spectroscopy
By Application:
- Research Institutes
- Food and Beverages Testing
- Pharmaceuticals
- Environmental Testing
- Biote
- Others
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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