North America Molecular Spectroscopy Market Forecast to 2030

At 5.1% CAGR, North America Molecular Spectroscopy Market is Speculated to be Worth US$ 2,332.87 Million by 2030, says the Research Team

According to the Research Team’ research, the North America molecular spectroscopy market was valued at US$ 1,568.61 million in 2022 and is expected to reach US$ 2,332.87 million by 2030, recording a CAGR of 5.1% from 2022 to 2030. Increase in drug discovery and R&D and increasing use of nuclear magnetic resonance spectroscopy are among the critical factors attributed to drive the North America molecular spectroscopy growth.

The demand for and use of molecular spectroscopy increased significantly during the COVID-19 pandemic. In July 2022, Bruker PhenoRisk launched PACS RuO, a research-only NMR test for molecular phenonomic research on blood samples from “long COVID-19” patients. The PhenoRisk PACS RuO test holds promise for exploring early-stage risk factors, monitoring longitudinal recovery, and prospective secondary organ damage in cardiovascular disease, type II diabetes, inflammation, and renal dysfunction. In addition, molecular spectroscopy plays a crucial role in drug discovery and development. Raman spectroscopy has proven to be one of the most powerful analytical techniques for drug discovery and pharmaceutical development. In September 2020, an American Chinese biotech company, Xtalpi, raised US$ 319 million in funding to further develop its intelligent digital drug discovery and development platform (ID4), which includes solid shape selection, predicting small molecule candidate properties, and other services. A research team at Northern Arizona University (NAU) was found to be developing a new testing technology for SARS-CoV-2 using surface-enhanced single-molecule Raman spectroscopy. The project was “Development of a new test for SARS-CoV-2 using surface-enhanced single-molecule Raman spectroscopy.” It received a US$ 200,000 grant from the National Science Foundation’s Rapid Response Research (RAPID) grant program. According to BioPharma Trend 2020, the pharmaceutical industry’s rapid advances in artificial intelligence (AI) are expected to lead to significant spending on research and development to discover new therapeutic targets. In addition, biotech investors are increasingly relying on using AI in drug development and are investing heavily in AI-based drug development methods. These scientific achievements have resulted in many groundbreaking discoveries of highly effective drugs for chronic diseases. For this reason, most investors gravitate toward drug discovery and R&D activities, which are expected to drive the molecular spectroscopy market in the future.

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

Based on product, the North America molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held 85.5% market share in 2022, amassing US$ 1,341.62 million. It is projected to garner US$ 2,030.83 million by 2030 to register 5.3% CAGR during 2022-2030.

In terms of technology, the North America 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 27.3% share of North America molecular spectroscopy market in 2022, amassing US$ 428.32 million. It is anticipated to garner US$ 614.76 million by 2030 to expand at 4.6% CAGR during 2022-2030.

By application, the North America molecular spectroscopy market is segmented into academic and research applications, biotechnology applications, pharmaceutical applications, and others. The academic and research applications segment held 41.3% share of North America molecular spectroscopy market in 2022, amassing US$ 648.48 million. It is projected to garner US$ 1,004.61 million by 2030 to expand at 5.6% CAGR from 2022 to 2030.

Based on country, the North America molecular spectroscopy market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.0% share of North America molecular spectroscopy market in 2022. It was assessed at US$ 1,238.57 million in 2022 and is likely to hit US$ 1,877.49 million by 2030, registering a CAGR of 5.3% during 2022-2030.

Key players operating in the North America molecular spectroscopy market are Horiba Ltd, Thermo Fisher Scientific Inc, 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 March 2023, Horiba, a leading manufacturer of instruments for measurement and analysis, had launched a new MICROPOLE System QL Series Quadrupole Mass Analyzer for monitoring gas components in vacuum chambers used in semiconductor manufacturing processes. This system improves the yield rate and contributes to the production efficiency of semiconductors.

In April 2023, JEOL Ltd and Cumberland Additive Inc (CAI) announced that Cumberland’s Neighborhood 91 facility in Pittsburgh, Pennsylvania, will be the first North American installation of JEOL’s new Electron Beam Powder Bed Fusion (PBF-EB) machine. JEOL introduced its new PBF-EB machine to the North American market at Rapid TCT in May 2022. Its display of serially built nested parts and a lightweight, strong titanium electron beam column garnered interest.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America molecular spectroscopy market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America molecular spectroscopy market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America molecular spectroscopy market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Molecular Spectroscopy Market – Key Market Dynamics
4.1 Market Drivers
4.1.1 Growing Adoption and Use of Molecular Spectroscopy
4.1.2 Rapid Growth of Pharmaceutical Industry
4.2 Market Restraints
4.2.1 Shortage of Technically Skilled Personnel and High Cost of Maintenance and Installation
4.3 Market Opportunities
4.3.1 Increasing Use of Nuclear Magnetic Resonance Spectroscopy
4.4 Future Trends
4.4.1 Increase in Drug Discovery and R&D
4.5 Impact of Drivers and Restraints:
5. Molecular Spectroscopy Market – North America Analysis
5.1 Molecular Spectroscopy Market Overview
5.2 Molecular Spectroscopy Market Revenue (US$ Million), 2020-2030
6. North America Molecular Spectroscopy Market Analysis – by Product
6.1 Overview
6.2 Instrument
6.2.1 Overview
6.2.2 Instrument: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
6.3 Accessories
6.3.1 Overview
6.3.2 Accessories: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7. North America Molecular Spectroscopy Market Analysis-by Technology
7.1 Overview
7.2 UV-Visible Spectroscopy
7.2.1 Overview
7.2.2 UV-Visible Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Infrared Spectroscopy
7.3.1 Overview
7.3.2 Infrared Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Nuclear Magnetic Resonance Spectroscopy
7.4.1 Overview
7.4.2 Nuclear Magnetic Resonance Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Raman Spectroscopy
7.5.1 Overview
7.5.2 Raman Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Near-Infrared Spectroscopy
7.6.1 Overview
7.6.2 Near-Infrared Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
8. North America Molecular Spectroscopy Market Analysis – by Application
8.1 Overview
8.2 Academic & Research Applications
8.2.1 Overview
8.2.2 Academic & Research Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Biotechnology Applications
8.3.1 Overview
8.3.2 Biotechnology Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Pharmaceutical Applications
8.4.1 Overview
8.4.2 Pharmaceutical Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
9. North America Molecular Spectroscopy Market-Country Analysis
9.1 North America Molecular Spectroscopy Market-Country Analysis
9.1.1 North America: Molecular Spectroscopy Market – Revenue and Forecast Analysis – by Country
9.1.1.1 US
9.1.1.1.1 Overview
9.1.1.1.2 US: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.3 US: Molecular Spectroscopy Market Breakdown, by Product
9.1.1.1.4 US: Molecular Spectroscopy Market Breakdown, by Technology
9.1.1.1.5 US: Molecular Spectroscopy Market Breakdown, by Application
9.1.1.2 Canada
9.1.1.2.1 Overview
9.1.1.2.2 Canada: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.3 Canada: Molecular Spectroscopy Market Breakdown, by Product
9.1.1.2.4 Canada: Molecular Spectroscopy Market Breakdown, by Technology
9.1.1.2.5 Canada: Molecular Spectroscopy Market Breakdown, by Application
9.1.1.3 Mexico
9.1.1.3.1 Overview
9.1.1.3.2 Mexico: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.3 Mexico: Molecular Spectroscopy Market Breakdown, by Product
9.1.1.3.4 Mexico: Molecular Spectroscopy Market Breakdown, by Technology
9.1.1.3.5 Mexico: Molecular Spectroscopy Market Breakdown, by Application
10. Molecular Spectroscopy Market-Industry Landscape
10.1 Overview
10.2 Growth Strategies in the Molecular Spectroscopy Market
10.3 Inorganic Growth Strategies
10.3.1 Overview
10.4 Organic Growth Strategies
10.4.1 Overview
11. Company Profiles
11.1 HORIBA, Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Thermo Fisher Scientific Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Merck KGaA
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Revvity, Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Ostec Instruments
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 JEOL Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Shimadzu Corp
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 JASCO Corp
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Bruker Corp
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Agilent Technologies, Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
11.11 Oxford Instruments plc
11.11.1 Key Facts
11.11.2 Business Description
11.11.3 Products and Services
11.11.4 Financial Overview
11.11.5 SWOT Analysis
11.11.6 Key Developments
11.12 Teledyne Princeton Instruments
11.12.1 Key Facts
11.12.2 Business Description
11.12.3 Products and Services
11.12.4 Financial Overview
11.12.5 SWOT Analysis
11.12.6 Key Developments
12. Appendix
12.1 About The the Reporting Teams
12.2 Glossary of Terms

LIST OF TABLES

Table 1. Molecular Spectroscopy Market Segmentation
Table 2. US: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Product
Table 3. US: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Technology
Table 4. US: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 5. Canada: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Product
Table 6. Canada: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Technology
Table 7. Canada: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 8. Mexico: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Product
Table 9. Mexico: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Technology
Table 10. Mexico: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 11. Recent Inorganic Growth Strategies in the Molecular Spectroscopy Market
Table 12. Recent Organic Growth Strategies in the Molecular Spectroscopy Market
Table 13. Glossary of Terms, Molecular Spectroscopy Market

LIST OF FIGURES

Figure 1. Molecular Spectroscopy Market Segmentation, by Country
Figure 2. Molecular Spectroscopy Market – Key Market Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Molecular Spectroscopy Market Revenue (US$ Million), 2022 – 2030
Figure 5. Molecular Spectroscopy Market Share (%) – by Product (2022 and 2030)
Figure 6. Instrument: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Accessories: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Molecular Spectroscopy Market Share (%) – by Technology (2022 and 2030)
Figure 9. UV-Visible Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Infrared Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Nuclear Magnetic Resonance Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Raman Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Near-Infrared Spectroscopy: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Molecular Spectroscopy Market Share (%) – by Application (2022 and 2030)
Figure 16. Academic & Research Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Biotechnology Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Pharmaceutical Applications: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. North America: Molecular Spectroscopy Market, by Key Country – Revenue (2022) (US$ Million)
Figure 21. North America: Molecular Spectroscopy Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 22. US: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 23. Canada: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. Mexico: Molecular Spectroscopy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Growth Strategies in the Molecular Spectroscopy Market