Molecular Spectroscopy Market Report 2026

The molecular spectroscopy market size has grown strongly in recent years. It will grow from $7.03 billion in 2025 to $7.65 billion in 2026 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing scientific research activities, rising pharmaceutical development programs, growing need for accurate material analysis, expansion of biotechnology research, rising demand for laboratory instrumentation.

The molecular spectroscopy market size is expected to see strong growth in the next few years. It will grow to $10.46 billion in 2030 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growing precision medicine advancements, rising investment in research institutions, increasing demand for advanced analytical equipment, expanding pharmaceutical innovation, growing environmental testing needs. Major trends in the forecast period include rising use in pharmaceutical and biotechnology research, increasing application in chemical and material analysis, growing adoption in environmental testing, expansion of advanced analytical laboratory solutions, strengthening demand for high precision molecular testing.

The rapid expansion of the pharmaceutical industry is expected to drive the growth of the molecular spectroscopy market in the coming years. The pharmaceutical sector encompasses the discovery, development, production, and commercialization of medications. The industry has experienced strong growth due to technological advancements, increased investment in research and development, rising global healthcare needs, and the growing prevalence of chronic diseases that require innovative therapies. Molecular spectroscopy supports the pharmaceutical industry by enabling accurate analysis of drug compounds, speeding up development processes, and ensuring strict quality control. For example, in January 2023, according to the IQVIA Institute for Human Data Science, a US-based data analytics organization, global spending on medicines is projected to reach approximately USD 1.9 trillion by 2027, indicating continued growth momentum since 2022. Therefore, the rapid growth of the pharmaceutical industry is contributing to the expansion of the molecular spectroscopy market.

Major companies operating in the molecular spectroscopy market are focusing on advancements such as the development of Matrix-Assisted Laser Desorption/Ionization (MALDI) to enhance the sensitivity and specificity in detecting and quantifying M-proteins in serum samples. MALDI is a mass spectrometry technique that ionizes large biomolecules, such as proteins and peptides, by mixing them with a matrix that absorbs laser energy. For instance, in August 2023, ThermoFisher Scientific, a US-based scientific instrumentation company, launched the EXENT Solution. This solution is designed to improve diagnostic accuracy and efficiency, providing healthcare providers with more reliable tools for patient testing and diagnostics. With IVDR compliance, ThermoFisher aims to meet the growing demand for precision diagnostics while adhering to stringent regulatory standards, particularly in EU markets. This launch highlights ThermoFisher's commitment to advancing diagnostic technologies and enhancing patient care globally.

In April 2024, Specac Ltd., a UK-based manufacturer of spectroscopic accessories, acquired Harrick Scientific Inc. to expand its product range, improve customer service, and strengthen global distribution networks, thereby accelerating growth and enhancing operational efficiency. Harrick Scientific Inc., based in the US, specializes in designing and manufacturing molecular spectroscopy instruments.

Major companies operating in the molecular spectroscopy market report 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.

North America was the largest region in the molecular spectroscopy market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the molecular spectroscopy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The molecular spectroscopy market consists of revenues earned by entities by providing services such as installation, calibration, and maintenance services, analytical services, and software as a service (SaaS). The market value includes the value of related goods sold by the service provider or included within the service offering. The molecular spectroscopy market also includes sales instruments such as X-ray diffraction (XRD) and X-ray fluorescence, conventional CD spectrometers, and hyperspectral imaging. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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