Report on molecular spectroscopy market, comprising instruments, consumables, and services, has witnessed various technological advancements. These advancements have led to a growth in the number of molecular spectroscopy applications. Molecular spectroscopy is increasingly being used in drug discovery and development, metabolomics and biomarkers research, and diagnostics.
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Global molecular spectroscopy market over the forecast period of 2013 to 2018. This market was valued at $4.3 billion in 2013 and is poised to grow at a CAGR of 6.7% from 2013 to 2018, to reach $5.9 Billion by 2018.
The global molecular spectroscopy market is segmented on the basis of products, applications, and geography.
1 The Abb Group
2 Agilent Technologies, Inc.
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4 Danaher Corporation
6 Jasco, Inc.
7 Jeol Ltd.
8 Perkinelmer, Inc.
9 Shimadzu Corporation
10 Thermo Fisher Scientific, Inc.
The molecular spectroscopy market is expected to experience the highest growth in the Asian region, especially in China and India. These countries will serve as new revenue pockets for players in the molecular spectroscopy market.
The high growth in these regions can be attributed to various factors such as the improved funding scenario and collaborations of key players with complimentary companies as well as academic research institutes.
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A number of factors such as new international GMP and GDP certifications for pharmaceutical excipients (EXCiPACT), global alliances amongst leading molecular spectroscopy market research institutes to boost drug discovery, growing food safety concerns, increasing life science and R&D spending, and technological advancement are driving the market. However, the dearth of skilled professional and the high cost of molecular spectroscopy instruments are the factors that are hindering the growth of this market.
2 New Product Launches
4 Agreements, Collaborations, and Alliances
The Infrared Spectroscopy (IR) market is further segment into market by spectrum and molecular spectroscopy market by technology. The IR market by spectrum includes short-wave Infrared, mid-wave Infrared, and far-wave Infrared spectroscopy.
The IR market by technology includes markets for benchtop, hyphenated, microscopy, portable, and terahertz spectroscopy. The Raman spectroscopy market is segmented by sampling technique and by technology.
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The global molecular spectroscopy market into different technologies and applications. Based on products, the market comprises NMR, Ultraviolet-Visible (UV-Vis), Infrared (IR), Near Infrared (NIR), Color Measurement, Raman Spectroscopy, and others.
The NMR Spectroscopy segment includes Continuous Wave NMR, Fourier Transform NMR, Solid-State NMR spectroscopy, and others. The Ultraviolet-Visible Spectroscopy (UV-Vis) segment comprises Single-beam UV-vis, Dual-beam UV-vis, Array-based UV-vis, handheld UV-vis spectroscopy, and others.
The key factors propelling the growth of this market are increased investments, funding, and grants by government bodies worldwide; ongoing new product launches; technological advancements; increase in the number of conferences, which helps to create awareness about molecular spectroscopy techniques; growing concerns over food and drug safety; and increasing use of molecular spectroscopy techniques in the fields of proteomics, biomarkers, and metabolomics.
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