MOLECULAR SPECTROSCOPY MARKET ANALYSIS

Molecular Spectroscopy Market, By Type of Spectroscopy (NMR Spectroscopy, Raman Spectroscopy, UV-visible Spectroscopy, Mass Spectroscopy, Infra-red Spectroscopy, Near Infrared Spectroscopy, and Other Types of Spectroscopy), By Application (Pharmaceutical Applications, Food and Beverage Testing, Biotechnology and Biopharmaceutical Applications, Environmental Testing, Academic Research, and Other Applications), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jun 2024
Code : CMI5439
Pages :165
Formats :
Excel and PDF
Industry : Medical Imaging

Market Concentration and Competitive Landscape

Molecular Spectroscopy Market Concentration By Players

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Growing Pharmaceutical R&D Investments and Regulations

The pharmaceutical industry is among the major end users of molecular spectroscopy techniques for new drug discovery and development. With rising healthcare expenditures, an aging global population and increasing prevalence of chronic diseases, pharmaceutical R&D investments have grown substantially over the past decade. According to reports, over 150 billion dollars are spent annually on pharmaceutical R&D globally. A significant portion of these funds goes towards analytical characterization and testing of drug molecules, metabolites and formulations at various stages - from early discovery to commercial manufacturing. Moreover, regulatory standards by authorities like FDA and EMA have also become more stringent over the years. For instance, in October 2020, Bruker Corporation unveiled the Fourier 80 system in Europe, a benchtop spectrometer utilizing nuclear magnetic resonance (FT-NMR) technology. Additionally, numerous advancements are anticipated to drive notable market expansion throughout the projected period.

Key Players Insights