The global molecular spectroscopy market is projected to reach USD 6.85 Billion by 2022 from USD 4.68 Billion in 2016, at a CAGR of 6.6%. The molecular spectroscopy market is emerging and fragmented in nature with various regional and national players.
Bruker corporation, Inc. (US) dominated the molecular spectroscopy market in 2016. The company provides a wide range of molecular spectroscopy technologies, accessories, and software in the molecular spectroscopy market. These products find application in a range of industries including pharmaceuticals, environmental agencies, food & beverage, and research laboratories. To maintain its leading position and increase its customer base in the molecular spectroscopy market, the company mainly focuses on expanding its market presence by enhancing its product development capabilities and product launches & enhancements. For instance, in 2017, the company launched TopSpin 4 software, bioTop module, TopSolids software, PotencyMR solution, iProbe platform, and SmartProbe iProbes, an addition to its existing portfolio. Additionally, it has also launched verTera extension for their VERTEX 80v FTIR spectrometer. The company has a strong R&D and manufacturing infrastructure, with its presence in Europe, North America, and Asia Pacific.
Thermos Fisher Scientific, Inc. (US) held the second position in the molecular spectroscopy market in 2016. It is a leading player in all developed geographies including the US, Europe, and Asia. The company offers a wide range of molecular spectroscopy products, and also provides technical support. The prime strength of the company is innovation, which has helped it to sustain its brand equity. For instance, in 2017, the company has launched iXR Raman spectrometer, iN5 FTIR Microscope, and an update of their spectroscopy analyzing software. The company also focuses on other growth strategies such as acquisitions to strengthen its position in the market. For instance, in 2016, the company acquired Affymetrix, Inc. (US) to increase the company’s capabilities in bioscience and genetic analysis.
PerkinElmer Inc. (US) is another leading player of global molecular spectroscopy market in 2016. The company offers a range of molecular spectroscopy technologies such as UV-Visible technologies, IR Spectroscopy, and Fluorescence instruments. To maintain its leading position, the company focuses on business strategies such as acquisitions and expansions. For instance, in 2016, the company expanded its facility in the Asia Pacific region, establishing a diagnostic facility. Also, in 2014, PerkinElmer acquired Perten Instruments Group AB (Sweden) to enhance PerkinElmer’s industrial, environmental, and safety business.
Some of the other players competing in this market are Shimadzu Corporation (Japan), Danaher Corporation (US), ABB (Switzerland), Merck KGaA (Germany), JEOL Ltd (Japan), FOSS (Denmark), JASCO, Inc. (US), and HORIBA Ltd. (US).
Molecular Spectroscopy Market by Technology (NMR (FT, Continuous Wave), UV-Visible (Array-based, Dual-beam), IR (Terahertz, Benchtop), NIR (FT-NIR), Raman (SERS, TERS, FT Raman)), Application (Pharmaceutical, Food, Biotechnology) - Global Forecast to 2022
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