The global molecular spectroscopy market is segmented on the basis of products, applications, and geography. Based on products, the market includes NMR, Ultraviolet-Visible (UV-Vis), Infrared(IR), Near Infrared (NIR), Color, Raman Spectroscopy, and others.
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The global market was valued at $4.3 billion in 2013 and is expected to grow at a CAGR of 6.7% from 2013 to 2018.
Based on applications, the market is broadly categorized into pharmaceuticals, biotechnology & biopharmaceuticals, food & beverage testing, environmental testing, research institutes (academic institutes, QA/QC laboratories), and others. Based on geography, the market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America is the largest market for molecular spectroscopy, followed by Europe and Asia. However, the Asian market is slated to grow at the highest rate over the next five years.
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NMR spectroscopy accounted for the largest share of the overall molecular spectroscopymetry market, by technology, followed by UV-VIS spectroscopy. However, the Raman spectroscopy segment is expected to grow at the highest CAGR from 2013 to 2018. This high growth can be attributed to its technological advancements, and growing adoption in the pharmaceutical industry.
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The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). North America is expected to maintain its leadership position in the market in the coming years. The growth in the North American market is likely to be driven by factors such as the increasing number of government investments in pharmaceutical, biotechnology, medical, and academic research studies that make use of molecular spectroscopy techniques.
The major players in the global market include ABB Bomem, Inc. (U.S.), Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), FOSS (Denmark), JASCO International Co., Ltd. (Japan), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), and JEOL, Ltd. (Japan).
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