Molecular Spectroscopy Market to Exhibit Impressive Growth during 2021-2026

Posted by johndbmr on May 11th, 2021

Molecular spectroscopy market is registering a substantial CAGR of 7.04% in the forecast period of 2021-2026. The spectroscopy is an advanced analytical technology that is widely applied in various industries such as healthcare and manufacturing. It measures and ascertains the mass, structure, and composition of substance so that accurate analysis can be drawn out.

With the advancements in the technology and innovations in the healthcare sector, the molecular spectroscopy is the most driven segment. It is usually used for measuring spectrum response of molecules interacting with several frequencies and energies. The technological advancements have increased the efficiency and provided better image quality.

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Key Market Competitors:

Few of the major market competitors currently working in the global molecular spectroscopy market are Thermo Fisher Scientific, ABB, PerkinElmer Inc., Keit Ltd, Ibsen Photonics A/S, Carl Zeiss AG, VIAVI Solutions Inc., Raptor Photonics, Magritek Ltd, Thorlabs, Inc., Avantes BV, Agilent Technologies, Inc., Kaiser Optical Systems, Inc., Merck KGaA, B&W Tek, StellarNet, Inc., Si-Ware Systems, Galaxy Scientific Inc., Block Engineering, LLC, Siemens, Danaher, Bruker and HORIBA, Ltd. among others.

Segmentation: Global Molecular Spectroscopy Market

•          By Technology (Nuclear Magnetic Resonance Spectroscopy, UV-Visible Spectroscopy, Infrared Spectroscopy, Near-Infrared Spectroscopy, Color Measurement Spectroscopy, Raman Spectroscopy, Other Technologies)
•          By Application (Pharmaceutical Applications, Food & Beverage Testing, Biotechnology & Biopharmaceutical Applications, Environmental Testing, Academic Research, Other Applications)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis:

Global Molecular spectroscopy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of molecular spectroscopy market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers

•          The applications of molecular spectroscopy to environmental screening is driving the market growth
•          There is been a surge in the demand for molecular spectroscopy  in pharmaceutical and biotechnological companies which is boosting the market growth
•          Molecular spectroscopy has gone under various technological advancements and innovations which is fueling the market growth
•          There is a rising focus on ensuring the quality of food products which is fueling the market growth
•          The rise in the emphasis for the discovery of newer molecules by pharmaceuticals is driving the market growth

Market Restraints

•          The molecular spectroscopy systems are costly which restricts the market growth
•          The lack of technically skilled professionals is hampering the market growth