The new report "Global Molecular Spectroscopy Market" is expected to reach USD 6,443.5 million by 2024, from USD 3,959.8 million in 2016, growing at a CAGR of 6.3% in the forecast period.
The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Molecular Spectroscopy Market, By Type (Nuclear Magnetic Resonance (Continuous Wave, Fourier Transform, Solid State), UV-Vis, Infrared (IR), Near Infrared (NIR), Colour Spectroscopy, Raman Spectroscopy, Others), By Applications (Pharmaceuticals, Biotech, Food and Beverages, Environmental Testing, Academics, Others), By Geography (North America, South America, Europe, Asia-Pacific, Rest of the World) – Industry Trends and Forecast to 2024
The major factors driving the growth of this market are the new international GMP & GDP certification for pharmaceutical excipients (North America & Europe),global alliances amongst leading research institutes to boost drug discovery, growing food safety concerns, increasing life science R&D spending, and technological advancements..
Market Segmentation: Global Molecular Spectroscopy Market
The global molecular spectroscopy market is segmented on the basis of technology, type, application, and geography. Based on technology, the global molecular spectroscopy market is segmented into nuclear magnetic resonance (NMR) spectroscopy, UV visible spectroscopy, infrared (IR) spectroscopy, near infrared spectroscopy (NIR), Raman spectroscopy and others.In 2016, NMR spectroscopy dominated the market with a share of 36.4% and is expected to domination in the forecast period 2017 to 2024.
Based on product types, the IR spectroscopy market is segmented into bench top, infrared microscopy, portable, hyphenated and terahertz IR spectroscopy. Terahertz IR spectroscopy is the highest growing market segment.
The NIR spectroscopy is again further categorized into scanning, Fourier transform, portable/handheld and filter NIR spectroscopy. Based on product type, Raman spectroscopy is further segmented into micro Raman, probe based and FT Raman.
The NMR spectroscopy is further segmented into fourier transform (FT-NMR), continuous wave, and solid state spectroscopy. UV visible spectroscopy is further segmented into single beam, double beam, array based and handheld spectroscopy.
The handheld IR spectroscopy segment is expected to grow at the highest CAGR among the UV-visible spectroscopy segments in the forecast period 2017 to 2024.
Key Drivers: Global Molecular Spectroscopy Market
The major factors driving the growth of this market are the new international GMP & GDP certification for pharmaceutical excipients (North America & Europe), global alliances amongst leading research institutes to boost drug discovery, growing food safety concerns, increasing life science R&D spending, and technological advancements.
Key Points: Global Molecular Spectroscopy Market
- Far wave IR spectroscopy segment is expected to grow at the highest.
- Globally, terahertz IR spectroscopy is driving the market with highest market share. However, wearable injector is growing with highest CAGR.
- Micro Raman spectroscopy is dominating the molecular spectroscopy market.
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