Molecular Spectroscopy Market Size, Share, Growth by 2030

The molecular spectroscopy market is anticipated to expand significantly, with projections indicating an increase from US$ 3.80 billion in 2022 to US$ 5.58 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

The rise in the adoption of molecular spectroscopy techniques, coupled with the rapid expansion of the pharmaceutical sector, is a key driver of this market's growth.

Molecular spectroscopy plays a crucial role in the research and development (R&D) of pharmaceuticals and various biotechnological products, contributing to the overall growth of the molecular spectroscopy market. Among the various types of molecular spectroscopy, near-infrared (NIR) spectroscopy has gained significant traction in the pharmaceutical industry in recent years, primarily due to its numerous advantages over traditional analytical methods. NIR spectroscopy facilitates straightforward sample preparation and allows for the extraction of both chemical and physical parameters from a single spectrum. Additionally, Raman spectroscopy is recognized as a powerful analytical tool in drug discovery and pharmaceutical development. It is utilized to investigate structure-activity relationships and optimize reaction conditions, as well as to screen for polymorphs and formulations, which are essential for advancing drug compounds from the discovery phase to development. Furthermore, nuclear magnetic resonance (NMR) spectroscopy is regarded as a robust analytical technique, and its application in the development of new therapeutics has seen a notable increase, significantly influencing the molecular spectroscopy market outlook.

The Growing Adoption of Molecular Spectroscopy Fuels Market Expansion

Molecular spectroscopy is integral to the R&D processes in pharmaceuticals and biotechnological products. NIR spectroscopy, in particular, has become increasingly popular in the pharmaceutical sector due to its efficiency in sample preparation and its capability to derive chemical and physical parameters from a single spectrum. Raman spectroscopy also plays a vital role in drug discovery and pharmaceutical development, aiding in the analysis of structural activity relationships and the optimization of various parameters necessary for transitioning drug compounds from discovery to development. Moreover, NMR spectroscopy has emerged as a critical tool in the development of innovative therapeutics. For instance, in March 2021, Bruker Corp. introduced the permanent magnet Fourier 80 system, an advanced 80 MHz high-performance Fourier transform NMR benchtop spectrometer designed for multinuclear gradient spectroscopy, equipped with industry-standard automation features.

Market Opportunities Arising from Increased Use of NMR Spectroscopy

NMR spectroscopy serve