The Europe molecular spectroscopy market was valued at US$ 1.06 billion in 2022 and is expected to reach US$ 1.51 billion by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.
The main applications of molecular spectroscopy in the pharmaceutical industry are for analyzing molecular bond strengths, identification of individual bonds and specific atoms within a molecule, obtaining clues to the particular orientation of a molecule, and analysis of pharmacological purity. The need for molecular spectroscopy is increasing significantly as pharmaceutical companies expand their research and development activities related to drug discovery and development. For example, Raman spectroscopy is used to study structural activities and interactions in order to improve reaction conditions and formulation screening, identify constraints such as polymorph, and scale medical compounds from discovery to development.
Thus, the factors mentioned above are increasing the demand for molecular spectroscopy for the large-scale production of various therapeutics, in turn facilitating its market growth globally.
Companies in Europe have been focusing on showcasing their products at various events through which they would be able to strengthen their customer base and collect information regarding developments made by other players in the region. Owing to the growing number of research initiatives and the introduction of innovative products, the market of molecular spectroscopy is anticipated to witness significant growth in Europe during the forecast period.
Rapid Growth of Pharmaceutical Industry Drives Europe Molecular Spectroscopy Market
The pharmaceutical industry has experienced growth at an unprecedented pace over the recent years and is slated to propel further in the upcoming years. The growth of the pharmaceutical industry has also acted as a crucial part in increasing the demand for molecular spectroscopy. Molecular spectroscopy techniques, including infrared spectroscopy, UV-visible spectroscopy, and mass spectrometry, are among the most important tools for pharmaceutical research and development. The significant expansion of the pharmaceutical industry in recent years, primarily due to the COVID-19 outbreak, has significantly benefited the molecular spectroscopy market.The main applications of molecular spectroscopy in the pharmaceutical industry are for analyzing molecular bond strengths, identification of individual bonds and specific atoms within a molecule, obtaining clues to the particular orientation of a molecule, and analysis of pharmacological purity. The need for molecular spectroscopy is increasing significantly as pharmaceutical companies expand their research and development activities related to drug discovery and development. For example, Raman spectroscopy is used to study structural activities and interactions in order to improve reaction conditions and formulation screening, identify constraints such as polymorph, and scale medical compounds from discovery to development.
Thus, the factors mentioned above are increasing the demand for molecular spectroscopy for the large-scale production of various therapeutics, in turn facilitating its market growth globally.
Europe Molecular Spectroscopy Market Overview
The European molecular spectroscopy market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region holds a significant share of the global market. It is expected to register a robust growth rate owing to government and private funding for research in biologics and pharmaceuticals and the launch of innovative technologies.Companies in Europe have been focusing on showcasing their products at various events through which they would be able to strengthen their customer base and collect information regarding developments made by other players in the region. Owing to the growing number of research initiatives and the introduction of innovative products, the market of molecular spectroscopy is anticipated to witness significant growth in Europe during the forecast period.
Europe Molecular Spectroscopy Market Segmentation
- The Europe molecular spectroscopy market is segmented into product, technology, application, and country.
- Based on product, the Europe molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held a larger market share in 2022.
- In terms of technology, the Europe 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 Europe 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 Europe molecular spectroscopy market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the Europe molecular spectroscopy market share in 2022.
- Horiba Ltd, Thermo Fisher Scientific Inc, SILIOS Technologies SA, 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 Europe molecular spectroscopy market.
Market Highlights
- Based on product, the Europe molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held 85.6% market share in 2022, amassing US$ 909.45 million. It is projected to garner US$ 1.31 billion by 2030 to register 4.8% CAGR during 2022-2030.
- In terms of technology, the Europe 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 27.2% share of Europe molecular spectroscopy market in 2022, amassing US$ 289.49 million. It is anticipated to garner US$ 397.99 million by 2030 to expand at 4.1% CAGR during 2022-2030.
- The academic and research applications segment held 42.7% share of Europe molecular spectroscopy market in 2022, amassing US$ 453.47 million. It is projected to garner US$ 673.58 million by 2030 to expand at 5.1% CAGR from 2022 to 2030.
- This analysis states that the UK captured 28.3% share of Europe molecular spectroscopy market in 2022. It was assessed at US$ 300.30 million in 2022 and is likely to hit US$ 421.93 million by 2030, registering a CAGR of 4.3% during 2022-2030.
- In December 2023, Horiba, Shimadzu Corp, a leading manufacturer of precision instruments, measuring instruments, and medical equipment, had released the IRSpirit-X series of Fourier transform infrared (FTIR) spectrophotometers, including the IRSpirit-LX, IRSpirit-TX, and IRSpirit-ZX. The entry-level IRSpirit-LX and the IRSpirit-TX have the highest sensitivity for a small FTIR3, and the IRSpirit-ZX has a capacity for stable measurements in high-temperature and high-humidity regions due to more moisture-resistant components.
- In June 2023, in terms of performance, functionality, and expandability, FT/IR-4X is research-grade. It can handle high S/N, high resolution, high sensitivity detectors, extending measurement wavenumber, microscopy using a linear array detector, and quick scan. FT/IR-4X can produce high-quality data and increase productivity. The highly adjustable optical system offered by the FT/lR-6X and FT/lR-8X spectrometers can be used for almost any FTIR application, from Mid-IR measurements to intricate analysis in the farthest regions of the electromagnetic spectrum. With options including full-vacuum, gold-coated optics, quick & step scan, and FT-Raman for more sophisticated studies, the FT/lR-6X or FT/lR-8X spectrometers make it simple to conduct research-based tests.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe 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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Molecular Spectroscopy Market - Key Market Dynamics
5. Molecular Spectroscopy Market - Europe Market Analysis
6. Europe Molecular Spectroscopy Market Analysis-by Product
7. Europe Molecular Spectroscopy Market Analysis - by Technology
8. Europe Molecular Spectroscopy Market Analysis - by Application
9. Europe Molecular Spectroscopy Market-Country Analysis
10. Molecular Spectroscopy Market-Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the Europe Molecular Spectroscopy market include:- Horiba Ltd
- Thermo Fisher Scientific Inc
- SILIOS Technologies SA
- Merck KGaA
- Revvity Inc
- Ostec Instruments
- JEOL Ltd
- Shimadzu Corp
- JASCO Corp
- Bruker Corp
- Agilent Technologies, Inc.
- Oxfords Instruments plc
- Teledyne Princeton Instruments
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 128 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.06 Billion |
| Forecasted Market Value ( USD | $ 1.51 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 14 |
