Surge in Drug Discovery and Development Initiatives for Disease Diagnosis to Bolster Demand for Molecular Spectroscopy

Published Date : Feb 27, 2017

Albany, NY, Feb 27, 2017: has announced the addition of a report, titled “Global Molecular Spectroscopy Market 2017-2021” to its offering. The report on the global molecular spectroscopy market offers in-depth insights into current market status, major drivers and restraints, emerging application trends, technological advances, and the prevailing competitive landscape. The research analyzes the impact of competitive dynamics on the revenue share of key vendors and makes a detailed assessment of prominent technologies such as NMR spectroscopy. The study highlights recent developments in drug discovery and new frontiers expected to shape the strategies of key vendors in major regions such as the Americas, Asia Pacific, and Europe, the Middle East, and Africa (EMEA).

The research study takes a closer look at the recent technological advancements in spectrometer techniques that are expected to impact the adoption trends of various spectroscopy consumables and instruments among different end users. The global molecular spectroscopy market is projected to rise at a 6.25% CAGR from 2017 to 2021.

Increasing initiatives related to drug discovery, surging pharmaceutical drug development, and rising governments’ support in various developed and developing countries are the primary factors driving the growth of the global molecular spectroscopy market. In addition, the soaring demand for nuclear magnetic resonance (NMR) spectroscopy for targeting multi-protein complexes coupled with its extensive applications in a variety of screening methods to discover high-affinity ligands, identify ligand-binding sites, and validate small molecules binding have boosted the molecular spectroscopy market.

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However, the high cost of spectroscope instruments is likely to hinder the growth of the market to an extent. Nevertheless, the design of high-throughput NMR spectroscopes and significant developments in multidimensional infrared (IR) spectroscopy aiding the discovery of novel therapies are expected to unlock exciting opportunities for the market players. Moreover, the application of advanced methods of molecular spectroscopy in diagnosis of a range of diseases, especially cancer, has opened new vistas of development in the global molecular spectroscopy market.

The Americas is projected to be the major revenue contributor in the global molecular spectroscopy market along the forecast period. Growth witnessed in the segment will be driven by the surging research grants on novel therapeutics for cancer and significant technological advancements.

The global molecular spectroscopy market is fairly fragmented with the presence of several global and regional players, which has intensified the prevailing competition in terms of price, availability, and product-differentiation. Leading companies are actively expanding their geographical presence to augment their customer base and gain a stronghold in the global molecular spectroscopy market. In order to consolidate their revenue shares, vendors are incorporating efficient production techniques and making product innovations. Some of the prominent players operating in this market are Agilent Technologies, PerkinElmer, Analytik Jena, Thermo Fisher Scientific, ABB, Cole-Parmer, and Hitachi High-Technologies.

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