At 4.5% CAGR, Europe Molecular Spectroscopy Market is Projected to be Worth US$ 1,514.47 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe molecular spectroscopy market was valued at US$ 1,062.62 million in 2022 and is expected to reach US$ 1,514.47 million by 2030, recording a CAGR of 4.5% from 2022 to 2030. Increasing use of nuclear magnetic resonance spectroscopy and rapid growth of pharmaceutical industry are among the critical factors attributed to drive the Europe molecular spectroscopy growth.

NMR is an analytical technique used for quality control and research to determine the purity of a sample with its molecular structure. NMR is a powerful tool in terms of analytical chemistry and consolidated matter science, as well as for elucidating the structure and dynamics of macromolecules. The benefits of NMR spectroscopy are that it requires less sample preparation and is a non-destructive method that preserves the molecules being studied. NMR spectroscopy has become one of the leading techniques for finding out the structure of organic compounds and is widely used in various areas such as pharmaceuticals, biotechnology, and biopharmaceuticals. In addition, NMR spectroscopy is increasingly used in biochemical and biological applications, including hit-to-lead detection, metabolite profiling, in vivo magnetic resonance spectroscopy, and magnetic resonance imaging. In recent years, NMR has been heavily incorporated into metabolomics. This rapidly growing field involves the study of metabolites to gain information about diseases. Metabolomics has traditionally focused on research applications and can prove extremely useful in laboratory diagnostics. Metabolomics can provide valuable information about downstream products of metabolic and cellular processes and provide insights into the state of specific tissues and organs. NMR spectroscopy has successfully quantified metabolite concentrations in various fluids, including urine, plasma, and serum. New developments have been made in NMR spectroscopy, driving much-needed improvements in sensitivity and versatility, and expanding the number of applications. Introducing advanced NMR diagnostic techniques to the frontline healthcare industry will likely enable rapid and cost-effective diagnosis of various diseases. As research and industry needs continue to evolve, NMR spectroscopy remains at the forefront of analytical techniques and drives growth in the spectroscopy market. In addition, molecular spectroscopy has propelled significantly due to increasing research in conservation and favorable government policies to promote environmental studies. Molecular spectroscopy is often used as an analytical tool in surveys and environmental studies. Therefore, market participants are exploring innovative molecular spectroscopy methods for various environmental studies. This is expected to continue during the forecast period and provide growth opportunities for the market.

On the contrary, shortage of technically skilled personnel and high cost of maintenance and installation hampers the growth of Europe molecular spectroscopy market.

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$ 1,319.59 million 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.

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 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.

Based on country, the Europe molecular spectroscopy market is categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional 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.

Key players operating in the Europe molecular spectroscopy market are 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, among others.

• 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.
  
  
  

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com