Europe Molecular Spectroscopy Market Forecast to 2030 - Regional Analysis - by Product (Instrument and Accessories), Technology (UV-Visible Spectroscopy, Infrared Spectroscopy, Nuclear Magnetic Resonance Spectroscopy, Raman Spectroscopy, Near-Infrared Spe

Europe Molecular Spectroscopy Market Forecast to 2030 - Regional Analysis - by Product (Instrument and Accessories), Technology (UV-Visible Spectroscopy, Infrared Spectroscopy, Nuclear Magnetic Resonance Spectroscopy, Raman Spectroscopy, Near-Infrared Spectroscopy, and Others), and Application (Academic and Research Applications, Biotechnology Applications, Pharmaceutical Applications, and Others)

The Europe molecular spectroscopy market was valued at US$ 1,062.62 million in 2022 and is expected to reach US$ 1,514.47 million by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.

Rapid Growth of Pharmaceutical Industry Drives Europe Molecular Spectroscopy Market

The pharmaceutical industry has experienced growth at an unprecedented pace over the recent years and is slated to propel further in the upcoming years. The growth of the pharmaceutical industry has also acted as a crucial part in increasing the demand for molecular spectroscopy. Molecular spectroscopy techniques, including infrared spectroscopy, UV-visible spectroscopy, and mass spectrometry, are among the most important tools for pharmaceutical research and development. The significant expansion of the pharmaceutical industry in recent years, primarily due to the COVID-19 outbreak, has significantly benefited the molecular spectroscopy market.

The main applications of molecular spectroscopy in the pharmaceutical industry are for analyzing molecular bond strengths, identification of individual bonds and specific atoms within a molecule, obtaining clues to the particular orientation of a molecule, and analysis of pharmacological purity. The need for molecular spectroscopy is increasing significantly as pharmaceutical companies expand their research and development activities related to drug discovery and development. For example, Raman spectroscopy is used to study structural activities and interactions in order to improve reaction conditions and formulation screening, identify constraints such as polymorph, and scale medical compounds from discovery to development.

Thus, the factors mentioned above are increasing the demand for molecular spectroscopy for the large-scale production of various therapeutics, in turn facilitating its market growth globally.

Europe Molecular Spectroscopy Market Overview

The European molecular spectroscopy market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region holds a significant share of the global market. It is expected to register a robust growth rate owing to government and private funding for research in biologics and pharmaceuticals and the launch of innovative technologies. Companies in Europe have been focusing on showcasing their products at various events through which they would be able to strengthen their customer base and collect information regarding developments made by other players in the region. Owing to the growing number of research initiatives and the introduction of innovative products, the market of molecular spectroscopy is anticipated to witness significant growth in Europe during the forecast period.

Europe Molecular Spectroscopy Market Revenue and Forecast to 2030 (US$ Million)

Europe Molecular Spectroscopy Market Segmentation

The Europe molecular spectroscopy market is segmented into product, technology, application, and country.

Based on product, the Europe molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held a larger market share in 2022.

In terms of technology, the Europe 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 the largest market share in 2022.

By application, the Europe molecular spectroscopy market is segmented into academic and research applications, biotechnology applications, pharmaceutical applications, and others. The academic and research applications segment held the largest market share in 2022.

Based on country, the Europe molecular spectroscopy market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The UK dominated the Europe molecular spectroscopy market share in 2022.

Horiba Ltd, Thermo Fisher Scientific Inc, SILIOS Technologies SA, Merck KGaA, Revvity Inc, Ostec Instruments, JEOL Ltd, Shimadzu Corp, JASCO Corp, Bruker Corp, Agilent Technologies, Inc., Oxfords Instruments plc, and Teledyne Princeton Instruments are some of the leading companies operating in the Europe molecular spectroscopy market.

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