Asia Pacific Molecular Spectroscopy Market Forecast to 2030 - Regional Analysis by Product, Technology, and Application

The Asia Pacific molecular spectroscopy market was valued at US$ 849.03 million in 2022 and is expected to reach US$ 1.28 billion by 2030; it is estimated to register a CAGR of 5.3% from 2022 to 2030.

Increasing Use of Nuclear Magnetic Resonance Spectroscopy Boosts Asia Pacific Molecular Spectroscopy Market

NMR is an analytical technique used for quality control and research to determine the purity of a sample with its molecular structure. NMR is a powerful tool in terms of analytical chemistry and consolidated matter science, as well as for elucidating the structure and dynamics of macromolecules. The benefits of NMR spectroscopy are that it requires less sample preparation and is a non-destructive method that preserves the molecules being studied. NMR spectroscopy has become one of the leading techniques for finding out the structure of organic compounds and is widely used in various areas such as pharmaceuticals, biotechnology, and biopharmaceuticals.

In addition, NMR spectroscopy is increasingly used in biochemical and biological applications, including hit-to-lead detection, metabolite profiling, in vivo magnetic resonance spectroscopy, and magnetic resonance imaging. In recent years, NMR has been heavily incorporated into metabolomics. This rapidly growing field involves the study of metabolites to gain information about diseases. Metabolomics has traditionally focused on research applications and can prove extremely useful in laboratory diagnostics. Metabolomics can provide valuable information about downstream products of metabolic and cellular processes and provide insights into the state of specific tissues and organs.

NMR spectroscopy has successfully quantified metabolite concentrations in various fluids, including urine, plasma, and serum. New developments have been made in NMR spectroscopy, driving much-needed improvements in sensitivity and versatility, and expanding the number of applications. Introducing advanced NMR diagnostic techniques to the frontline healthcare industry will likely enable rapid and cost-effective diagnosis of various diseases. As research and industry needs continue to evolve, NMR spectroscopy remains at the forefront of analytical techniques and drives growth in the spectroscopy market.

In addition, molecular spectroscopy has propelled significantly due to increasing research in conservation and favorable government policies to promote environmental studies. Molecular spectroscopy is often used as an analytical tool in surveys and environmental studies. Therefore, market participants are exploring innovative molecular spectroscopy methods for various environmental studies. This is expected to continue during the forecast period and provide growth opportunities for the market.

Asia Pacific Molecular Spectroscopy Market Overview

The Asia Pacific molecular spectroscopy market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. China is predicted to hold the largest share of the market in 2022, and India is expected to show a significant growth rate in the market. This is due to China's biopharmaceutical industry undergoing a tremendous shift, evolving from a generic-focused to a thriving innovation hub.

Additionally, promoting industrialization and the application of novel drugs, high-end medical devices, and techniques are responsible for the market growth in China. Further, the growing number of market players focusing on countries in Asia Pacific for geographical expansion and other strategies and the rising research centers and government funding fuel the molecular spectroscopy market growth.

Asia Pacific Molecular Spectroscopy Market Segmentation

• The Asia Pacific molecular spectroscopy market is segmented into product, technology, application, and country.
• Based on product, the Asia Pacific molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held a larger market share in 2022.
• In terms of technology, the Asia Pacific molecular spectroscopy market is categorized into UV-Visible spectroscopy, infrared spectroscopy, nuclear magnetic resonance spectroscopy, Raman spectroscopy, Near-infrared spectroscopy, and others. The UV-Visible spectroscopy segment held the largest market share in 2022.
• By application, the Asia Pacific molecular spectroscopy market is segmented into academic and research applications, biotechnology applications, pharmaceutical applications, and others. The academic and research applications segment held the largest market share in 2022.
• Based on country, the Asia Pacific molecular spectroscopy market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific molecular spectroscopy market share in 2022.
• Horiba Ltd; Thermo Fisher Scientific Inc; Merck KGaA; Revvity Inc; Ostec Instruments; JEOL Ltd; Shimadzu Corp; JASCO Corp; Bruker Corp; Agilent Technologies, Inc.; Oxfords Instruments plc; and Teledyne Princeton Instruments are some of the leading companies operating in the Asia Pacific molecular spectroscopy market.

Market Highlights

• Based on product, the Asia Pacific molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held 84.5% market share in 2022, amassing US$ 717.30 million. It is projected to garner US$ 1.10 billion by 2030 to register 5.5% CAGR during 2022-2030.
• In terms of technology, the Asia Pacific molecular spectroscopy market is categorized into UV-Visible spectroscopy, infrared spectroscopy, nuclear magnetic resonance spectroscopy, Raman spectroscopy, Near-infrared spectroscopy, and others. The UV-Visible spectroscopy segment held 26.6% share of Asia Pacific molecular spectroscopy market in 2022, amassing US$ 225.48 million. It is anticipated to garner US$ 327.90 million by 2030 to expand at 4.8% CAGR during 2022-2030.
• The academic and research applications segment held 41.8% share of Asia Pacific molecular spectroscopy market in 2022, amassing US$ 354.63 million. It is projected to garner US$ 557.84 million by 2030 to expand at 5.8% CAGR from 2022 to 2030.
• This analysis states that China captured 30.1% share of Asia Pacific molecular spectroscopy market in 2022. It was assessed at US$ 255.73 million in 2022 and is likely to hit US$ 378.82 million by 2030, registering a CAGR of 5.0% during 2022-2030.
• In March 2023, Horiba, a leading manufacturer of instruments for measurement and analysis, had launched a new MICROPOLE System QL Series Quadrupole Mass Analyzer for monitoring gas components in vacuum chambers used in semiconductor manufacturing processes. This system improves the yield rate and contributes to the production efficiency of semiconductors.
• In March 2023, NJ Bio contributed its expertise in antibody-drug conjugates, oligonucleotide conjugates, and other chemistries to develop platform solutions for its drug discovery clients - in particular, a platform for using NMR-derived structural information to optimize Targeted Protein Degraders (TPDs).

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific molecular spectroscopy market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific molecular spectroscopy market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific molecular spectroscopy market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.