According to a new report published by K D Market Insights, titled, “Molecular Spectroscopy Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global molecular spectroscopy market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing applications of molecular spectroscopy in various industries, including pharmaceuticals, biotechnology, food and beverages, and environmental testing. Additionally, technological advancements and innovations in spectroscopy instruments have expanded the capabilities of molecular analysis which are the major factors augmenting the growth of the global molecular spectroscopy market. The global molecular spectroscopy market is anticipated to grow at a high CAGR of 7.2% from 2023 to 2032. The market's revenue surged to $7.2 billion in 2022, and it is expected to further accelerate, reaching a notable $14.4 billion by 2032.

Rising pollution levels and the severe depletion of natural resources have underscored the need for advanced analytical tools like molecular spectroscopy to accurately assess and monitor environmental conditions are further expected to create ample growth opportunities for the global molecular spectroscopy market during the forecast period i.e., 2023-2032. Moreover, the discovery of newer molecules by pharmaceutical companies has propelled market expansion. Technological advancements in molecular spectroscopy systems, is expected to contribute towards the market growth during the period.

The North America region accounted for the largest share in the global molecular spectroscopy market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the presence of well-established pharmaceutical and biotechnology companies. Additionally, robust investment in research and development activities.

According to technology, the infrared spectroscopy segment accounted for the largest market share in the molecular spectroscopy market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.

The global molecular spectroscopy market is segmented into technology, application and region. Based on technology, the market is bifurcated into nuclear magnetic resonance spectroscopy, UV-visible spectroscopy, infrared spectroscopy, near-infrared spectroscopy, colour measurement spectroscopy, Raman spectroscopy, other technologies. Based on application, it is classified into pharmaceutical applications, food and beverage testing, biotechnology and biopharmaceutical applications, environmental testing, academic research, other applications

The global molecular spectroscopy market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

Key Insights of Molecular Spectroscopy Market

• On the basis of technology, the infrared spectroscopy segment accounted for the largest market share in the molecular spectroscopy market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
• On the basis of region, North America accounted for the largest share in the global molecular spectroscopy market in 2022. The region is further projected to continue dominating in the market during the forecast period.
• On the basis of region, Asia-Pacific is estimated to account for the second largest share in the market during the forecast period.

Some of the major molecular spectroscopy companies profiled in the report include Thermo Fisher Scientific Inc., Bruker, and perkinelmer, Inc. Agilent Technologies, Inc., Eurofins Scientific, Danaher, Merck kgaa, Siemens Healthcare gmbh, Medtronic, ABB, B&W Tek (US), Digilab Inc., Hamamatsu Photonics K.K., JASCO International Co., Ltd. (Japan), JEOL Ltd., Endress+Hauser Group Services AG, Metrohm India Limited, Montana Instruments Corporation, Coherent, Inc., Teledyne Technologies Incorporated, Renishaw plc.

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