The North America molecular spectroscopy market was valued at US$ 1.56 billion in 2022 and is expected to reach US$ 2.33 billion by 2030; it is estimated to register a CAGR of 5.1% from 2022 to 2030.
It is used to study structural activity relationships and improve reaction conditions and other parameters, such as polymorph and formulation screening, that lead to the scale required to move drug compounds from discovery to development. Further, nuclear magnetic resonance (NMR) spectroscopy is considered a robust tool, and the use of this technique for developing novel therapeutics has increased. In March 2021, Bruker Corp. announced the launch of a permanent magnet Fourier 80 system, a next-generation, 80 MHz high-performance Fourier transform NMR benchtop spectrometer used for multinuclear gradient spectroscopy with industry-standard automation options.
Growing Adoption and Use of Molecular Spectroscopy Fuels North America Molecular Spectroscopy Market
Molecular spectroscopy is used in the research and development (R&D) of pharmaceuticals and other biotechnological products. Near-infrared (NIR) spectroscopy is one of the types of molecular spectroscopy that has gained wide recognition in the pharmaceutical industry in recent years due to its huge advantages over other analysis techniques; it helps in effortless sample preparation and exhibits the ability to obtain chemical and physical sample parameters from a single spectrum. Raman spectroscopy is also one of the powerful analytical techniques implemented in drug discovery and pharmaceutical development.It is used to study structural activity relationships and improve reaction conditions and other parameters, such as polymorph and formulation screening, that lead to the scale required to move drug compounds from discovery to development. Further, nuclear magnetic resonance (NMR) spectroscopy is considered a robust tool, and the use of this technique for developing novel therapeutics has increased. In March 2021, Bruker Corp. announced the launch of a permanent magnet Fourier 80 system, a next-generation, 80 MHz high-performance Fourier transform NMR benchtop spectrometer used for multinuclear gradient spectroscopy with industry-standard automation options.
North America Molecular Spectroscopy Market Overview
The North America molecular spectroscopy market is segmented into the US, Canada, and Mexico. The market growth in this region is driven by the increasing number of product launches by biotechnology and biopharmaceutical companies and the presence of key market players. In addition, extensive R&D by various pharmaceutical and biotechnology companies and academic & research institutes is expected to stimulate the molecular spectroscopy market growth in North America. The US is the largest contributor to the molecular spectroscopy market in North America.North America Molecular Spectroscopy Market Segmentation
- The North America molecular spectroscopy market is segmented into product, technology, application, and country.
- Based on product, the North America molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held a larger market share in 2022.
- In terms of technology, the North America 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 North America 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 North America molecular spectroscopy market is segmented into the US, Canada, and Mexico. The US dominated the North America 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 North America molecular spectroscopy market.
Market Highlights
- Based on product, the North America molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held 85.5% market share in 2022, amassing US$ 1.34 billion. It is projected to garner US$ 2.03 billion by 2030 to register 5.3% CAGR during 2022-2030.
- In terms of technology, the North America 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 27.3% share of North America molecular spectroscopy market in 2022, amassing US$ 428.32 million. It is anticipated to garner US$ 614.76 million by 2030 to expand at 4.6% CAGR during 2022-2030.
- The academic and research applications segment held 41.3% share of North America molecular spectroscopy market in 2022, amassing US$ 648.48 million. It is projected to garner US$ 1.00 billion by 2030 to expand at 5.6% CAGR from 2022 to 2030.
- This analysis states that the US captured 79.0% share of North America molecular spectroscopy market in 2022. It was assessed at US$ 1.23 billion in 2022 and is likely to hit US$ 1.87 billion by 2030, registering a CAGR of 5.3% 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 April 2023, JEOL Ltd and Cumberland Additive Inc (CAI) announced that Cumberland's Neighborhood 91 facility in Pittsburgh, Pennsylvania, will be the first North American installation of JEOL's new Electron Beam Powder Bed Fusion (PBF-EB) machine. JEOL introduced its new PBF-EB machine to the North American market at Rapid TCT in May 2022. Its display of serially built nested parts and a lightweight, strong titanium electron beam column garnered interest.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America 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 North America 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 North America market trends and outlook coupled with the factors driving the North America 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. North America Molecular Spectroscopy Market - Key Market Dynamics
5. Molecular Spectroscopy Market - North America Analysis
6. North America Molecular Spectroscopy Market Analysis - by Product
7. North America Molecular Spectroscopy Market Analysis-by Technology
8. North America Molecular Spectroscopy Market Analysis - by Application
9. North America 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 North America Molecular Spectroscopy market include:- 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
- Teledyne Princeton Instruments
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 117 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.56 Billion |
| Forecasted Market Value ( USD | $ 2.33 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | North America |
| No. of Companies Mentioned | 13 |
