Application of Molecular Spectroscopy in Environmental Screening Driving Growth Worth USD 6.85 billion

Illinois, United States, 2021-Oct-13 — /EPR Network/ —

The rising levels of environmental pollution, coupled with the severe depletion of natural resources, are the major factors that have brought into effect several laws and regulations to monitor environmental pollution levels. For instance, in the U.S., the Safe Drinking Water Act (SDWA), Clean Water Act (CWA), and Resource Conservation and Recovery Act (RCRA) focus on regulating the quality of the environment through the use of analytical tools, such as molecular spectroscopy. In environmental applications, molecular spectroscopy is used in the following areas:

• Wastewater Treatment: To analyze the changes in the concentration/composition of inlet water
• Water Safety Analysis: To quantify bacterial concentration levels and the concentration of other constituents in water samples
• Measurement of PAH (Polycyclic Aromatic Hydrocarbons) Levels in the Environment: To monitor PAH levels, as this substance is shown to cause carcinogenic and mutagenic effects and is a potent immunosuppressant
• Evaluate the Environmental Impact of Mining: Trace levels of contamination can be detected using molecular spectroscopy; harmful acid-producing mine drainage can be detected immediately using the technique.

Molecular spectroscopy is the mainstay of several studies conducted by environmental research and conservation agencies across the world. RAMAN, Fourier-transform infrared (FTIR), and X-ray photoelectron spectroscopy are frequently used to study the chemical characteristics of bacterial cell surfaces in biofilm-related research. Additionally, several studies have employed FTIR spectroscopy to obtain in situ biochemical and physiological information on biofilms to monitor and map changes in their development (Source: Methodological approaches for studying the microbial ecology of drinking water distribution systems, Elsevier, 2014). The widespread use of molecular spectroscopy as an analytical tool in environmental studies and research is expected to drive market growth, especially due to the increasing research in the field of environmental conservation and the presence of government regulations promoting environmental studies.

This report aims to provide detailed insights into the global molecular spectroscopy market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:

The molecular spectroscopy market is expected to reach USD 6.85 Billion by 2022 from an estimated USD 4.98 Billion in 2017, at a CAGR of 6.6%.

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Key Factors Driving Market Growth:

The key factors driving the growth of this market include the growth of the pharmaceutical and biotechnology industry and technological advancements in molecular spectroscopy are driving the growth of the global Molecular Spectroscopy Market during the forecast period. The growing use of molecular spectroscopy in emerging markets and the rising potential for the application of terahertz spectroscopy in healthcare are the key areas of opportunity in this market.

By Technology, the raman spectroscopy segment is expected to grow at the highest growth rate during the forecast period

Based on technology, the molecular spectroscopy industry is segmented into Nuclear magnetic resonance (NMR) spectroscopy, UV-visible spectroscopy, infrared (IR) spectroscopy, near-infrared spectroscopy, color measurement spectroscopy, raman spectroscopy, and other technologies (fluorescence spectroscopy and hybrid spectroscopy). The raman spectroscopy segment is expected to grow at the highest CAGR of the global market in 2017. The wide applications of this technique coupled with the availability of technologically advanced products are driving the growth of this segment.

In 2017, the NMR spectroscopy segment is expected to account for the largest share of this market. The extensive applications of NMR spectroscopy coupled with the technological advancements in molecular spectroscopy are driving the growth of this segment.

By application, the pharmaceutical application industry held the largest market share in 2017 

Based on application, the Molecular Spectroscopy Market is further segmented into pharmaceutical application, biotechnology and biopharmaceutical applications, environmental testing, food and beverage testing, academic research, and other applications. In 2017, the pharmaceutical applications segment is expected to account for the largest share. Extensive use of molecular spectroscopy technologies at various stages of drug development processes and increase in R&D investments by pharmaceutical industries is driving the growth of the market.

North America dominated the market in 2017 

North America accounted for the largest share of the Molecular Spectroscopy Industry in 2016, followed by Europe. High usage of molecular spectroscopy in the pharmaceutical sector, growing funding for environmental testing in the US, growing food safety concerns in the US, and government initiatives to improve lab infrastructure and propel fundamental scientific research in Canada will drive market growth during the forecast period.

Factors such as rising importance of food safety, growing biotechnology and pharmaceutical industry in UK, Germany and Italy, funding in the life science sector, Russia’s booming pharmaceutical industry and rising research investment in European countries; are significant growth opportunities for the players competing in the global Molecular Spectroscopy Market during the forecast period.

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Key Players:

Bruker Corporation (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), and Agilent Technologies, Inc. (US) are the key players in the Molecular Spectroscopy Industry. Other players include Shimadzu Corporation (Japan), Danaher Corporation (US), ABB (Switzerland), Merck KGaA (Germany), JEOL Ltd (Japan), FOSS (Denmark), JASCO, Inc. (US), and HORIBA Ltd. (US).