The Global Molecular Spectroscopy Market accounted for USD XX million in 2017 and estimated to reach USD XX million in 2017. The market is projected to reach USD XX million by 2022, growing at a CAGR of X% during the forecast period.
Molecular spectrometry is the highest growing segment in spectrometry market, regarding value. The market is experiencing a shift in technology from collecting full-spectral images to measuring only a few required spectrums. This shift in technology has increased the efficiency, better signal-to-noise ratio, and image quality. Infrared and Raman spectroscopy techniques are used to determine the spatial distribution of chemical constituents, which are used in biomedical research, polymers, and forensics. The market for these techniques is growing significantly.
Drivers and Restraints:
An increase in the use of hyper-sophisticated market, higher demand for drug composition and bio-molecular analysis, rapid growth in R&D processes, enhanced penetration of technology and increased emphasis on the discovery of newer molecules by pharmaceuticals are the factors driving the global molecular spectroscopy market. Factors restraining the market growth include high installation charges and lack of technically skilled personnel and high maintenance cost of the equipment.
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Global Molecular Spectroscopy Market Segmentation:
The global molecular spectroscopy market is segmented by –
1.Type of spectroscopy:
Bio and Nanotechnology
Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America has the highest market share owing to factors such as the federal governmentâ€™s investment to support research in the area of medical sciences and a high number of pharmaceutical manufacturing companies in the region. Europe follows in the second position in terms of market share. The Western European market is mature when compared to its Eastern counterpart. Emerging economies in the Eastern European countries is one of the driving factors of the region.
The key opportunities for global molecular spectroscopy market include development of cost effective and accurate devices, growing proteomics market and massive untapped potential market in the emerging economies. As a result of such opportunities, the global molecular spectroscopy market is expected to grow at a considerable rate during the forecast period. However, high maintenance cost of the equipment is a key challenge faced by this market.
Some of the largest market players in the molecular spectroscopy market are:
Aglent Technologies, Inc.
Thermo Fischer Scientific, Inc.
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Market analysis for the global molecular spectroscopy market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the global molecular spectroscopy market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.