Press release
Pharmaceutical Industry Boom to Drive Molecular Spectroscopy Market Growth: Transformative Forces Shaping the Molecular Spectroscopy Market Landscape in 2025
Molecular Spectroscopy
What Will the Molecular Spectroscopy Industry Market Size Be by 2025?
In recent times, there has been a significant expansion in the molecular spectroscopy market, with an anticipated growth from $6.47 billion in 2024 to $7.06 billion in 2025, representing a compound annual growth rate (CAGR) of 9.1%. Factors contributing to this growth over the historical period include a heightened demand for molecular analysis in the pharmaceutical sector, greater emphasis on environmental monitoring, broader development of academic and research institutions, stringent food safety regulations, and a stronger focus on quality control.
What's the Long-Term Growth Forecast for the Molecular Spectroscopy Market Size Through 2029?
There is an anticipatory strong surge in the molecular spectroscopy market size in the forthcoming years, designed to reach $9.89 billion by 2029 with a compound annual growth rate (CAGR) of 8.8%. This projected hike during the estimated period is due to multiple factors; an increased emphasis on quality control, process optimization across different sectors, a broadened global pharmaceutical and biotech sectors, a growing focus on sustainability and green chemistry, burgeoning markets for molecular spectroscopy in healthcare diagnostics, and escalating investments in healthcare and life sciences research prevail as chief among these. The forecast period is also expected to witness principal trends like systems miniaturization and portability, integration with data analytics and AI, rapid and real-time screening and analysis, sustainability paired with green chemistry, and customizable modular systems.
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What Are the Key Growth Drivers Fueling the Molecular Spectroscopy Market Expansion?
The steady upswing in the pharmaceutical industry is anticipated to stimulate the expansion of the molecular spectroscopy market. Involving the discovery, development, production, and promotion of drugs, the pharmaceutical sector has expanded rapidly courtesy of technological developments, augmented investment in R&D, escalating global health care needs, and the widespread occurrence of chronic diseases in dire need of novel treatments. Molecular spectroscopy plays a vital role in the exact analysis of medication compounds, spurring development and assuring quality management. For example, the European Federation of Pharmaceutical Industries and Associations, a Europe-based pharmaceutical manufacturing entity, reported that pharmaceutical production surged to about $374.00 billion in 2022, a significant rise from $356.35 billion in 2021. Consequently, the swift expansion of the pharmaceutical industry is expected to fuel the growth of the molecular spectroscopy market.
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What Are the Key Trends Driving Molecular Spectroscopy Market Growth?
Leading businesses in the molecular spectroscopy market are focusing on technological advancements, including the development of Matrix Assisted Laser Desorption Ionization (MALDI). This advancement leverages its high sensitivity and accuracy in detecting and quantifying M-proteins in serum samples. MALDI is a mass spectrometry technique that ionizes bigger biomolecules like proteins and peptides by combining them with a matrix that absorbs laser energy. For example, ThermoFisher Scientific, a US-based scientific equipment enterprise, unveiled the EXENT solution in August 2023. This solution is created to improve diagnostic precision and efficiency, offering healthcare providers more reliable tools for diagnosing patients. ThermoFisher, addressing the growing need for accurate diagnostics while aligning with strict regulatory standards especially for adoption in the EU markets, launched the IVDR-compliant solution. This launch underpins ThermoFisher's dedication to developing advanced diagnostic technologies and enhancing global patient care.
How Is the Molecular Spectroscopy Market Segmented?
The molecular spectroscopy market covered in this report is segmented -
1) By Product Type: Consumables, Instruments
2) By Technology: Nuclear Magnetic Resonance Spectroscopy, UV-Visible Spectroscopy, Infrared Spectroscopy, Near-Infrared Spectroscopy, Color Measurement Spectroscopy, Raman Spectroscopy, Other Technologies
3) By Application: Pharmaceutical Applications, Food And Beverage Testing, Biotechnology And Biopharmaceutical Applications, Environmental Testing, Academic Research, Other Applications
Subsegments:
1) By Consumables: Reagents, Calibration Standards, Sample Vials, Light Sources
2) By Instruments: UV-Visible Spectrometers, Infrared (IR) Spectrometers, Raman Spectrometers, Near-Infrared (NIR) Spectrometers, Mass Spectrometers, Fluorescence Spectrometers
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Which Companies Are Leading the Charge in Molecular Spectroscopy Market Innovation?
Major companies operating in the molecular spectroscopy market are Thermo Fisher Scientific Inc., Danaher Corporation, ABB Ltd., Merck KGaA, Agilent Technologies Inc., Olympus Corporation, Keyence Corporation, Teledyne Technologies Incorporated, PerkinElmer Inc., Shimadzu Corporation, Coherent Inc., Endress+Hauser Group Services AG, Bio-Rad Laboratories Inc., Bruker Corporation, Horiba Ltd, Hamamatsu Photonics K.K., VIAVI Solutions Inc., Jeol Ltd, Renishaw plc., Metrohm India Limited, Thorlabs Inc., B&W Tek., JASCO International Co. Ltd., Digilab Inc., Keit Ltd
Which Regions Are Leading the Global Molecular Spectroscopy Market in Revenue?
North America was the largest region in the molecular spectroscopy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molecular spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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