Global Molecular Spectroscopy Market 2017-2021

Overview of the global molecular spectroscopy market

Market research analysts at Technavio predict that the global molecular spectroscopy market will grow steadily during the next four years and post a CAGR of more than 6% by 2021. This industry analysis identifies the increasing focus on drug discovery and development as one of the primary growth factors for the molecular spectroscopy market. With the increased support from the governments of several developed and developing countries, there has been a significant increase in focus towards drug discovery and development by pharmaceutical and biotechnology companies and research institutes. This has considerably increased the demand for molecular spectroscopy solutions since technologies such as nuclear magnetic resonance or NMR spectroscopy are widely used in screening experiments used for discovering high-affinity ligands, clarifying ligand-binding sites, and detecting small molecules with broad ranges of binding affinity. With the expected increase in the adoption of NMR as a robust tool for developing novel therapeutics, this increase in drug discovery and development will consequently aid in the growth of the molecular spectroscopy market.

Due to technological advancements in spectrometer techniques that help investigate biological functions and structural dynamics of nucleic acids, proteins, lipids, and fats, the coming years will witness a major shift in adoption from single molecular to macromolecular spectroscopy since it will provide an innovative platform for analyzing complex compositions.

Competitive landscape and key vendors

The market is characterized by the presence of several international and regional players and appears to be highly fragmented. The market’s competitive environment is intense and factors such as price, availability, and variety are some of the major parameters that vendors usually compete on. To sustain the competition and improve revenue shares, vendors have the need to expand their geographical presence and enhance customer base. To boost their revenue shares, vendors should also focus on following efficient production techniques, which will minimize product costs and prevent cost overruns.

The leading vendors in the market are -

• Agilent Technologies
• Bruker
• PerkinElmer
• Thermo Fisher Scientific

The other prominent vendors in the market are ABB, AMS Technologies, Analytik Jena, Cole-Parmer, FOSS, Hitachi High-Technologies, JASCO, JEOL, Oxford Instruments, and Shimadzu.

Segmentation by product and analysis of the molecular spectroscopy market

• Consumables
• Instruments

During 2016, the consumables segment accounted for the major shares and dominated this market. This is mainly due to the repeat purchase of products by various end-users such as government research institutes, and pharmaceutical and biotechnology companies for testing purposes. The increased adoption of consumables for various applications like in-vitro diagnostics, academics, drug discovery, agri-genomics, and personalized medicine, will fuel the growth of this market segment in the coming years.

Geographical segmentation and analysis of the molecular spectroscopy market

• Americas
• APAC
• EMEA

This market study estimates that owing to the presence of major pharmaceutical companies that use several kinds of molecular spectroscopy techniques in the region, the Americas will be the major revenue contributor to the market throughout the predicted period. Additionally, the increase in research grants that will lead to extended research activities pertaining to cancer will also aid in the growth of the market in this region.

Key questions answered in the report include

• What will the market size, market forecast and the growth rate be in 2021?
• What are the key factors driving the global molecular spectroscopy market?
• What are the key market trends impacting the growth of the global molecular spectroscopy market?
• What are the challenges to market growth?
• Who are the key vendors in the global molecular spectroscopy market?
• What are the market opportunities and threats faced by the vendors in the global molecular spectroscopy market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global molecular spectroscopy market?

Technavio also offers customization on reports based on specific client requirement.

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