The global molecular spectroscopy industry is forecast to be worth US$5.9 billion by 2018 as revenues increase by 6.7% CAGR during the period 2013 to 2018. At the current time, the global molecular spectroscopy market is valued at US$4.3 billion.
Thermo Fisher Scientific provides innovate molecular spectroscopy solutions namely, FT-IR, Raman, NIR, UV-Vis and Fluorescence spectrometers and microscopes and in January 2014, it was announced that GE Healthcare had agreed to purchase parts of this company as a direct result of a condition set by the European Commission for approving Thermo Fisher's acquisition of Life Technologies. This move is changing the dynamics of one of the main players of the global molecular spectroscopy market.
GE Healthcare has agreed to purchase Thermo Fisher Scientific's cell culture media and sera, gene modulation and magnetic beads businesses for $1.06 billion. These three businesses form part of Thermo Fisher's Analytical Technologies segment and will now be incorporated into GE Healthcare's Life Sciences division.
North America represents the largest molecular spectroscopy market with Europe and Asia ranked in second and third place, respectively in 2013. The developed markets are seeing healthcare budgets squeezed as a direct result of cost cutting and so companies are seeking to take advantage of the strong growth rates expected to be recorded in developing countries and in particular Asia.
The stringent quality requirements for drugs and excipients, the increased concerns over food safety and the extensive use of this technology within the pharmaceutical sector is expected to drive strong growth in overall revenues within the global molecular spectroscopy industry.
The leading companies operating in the global molecular spectroscopy market include ABB Bomem, Inc. (U.S.), Agilent Technologies (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), FOSS (Denmark), JASCO International Co., Ltd. (Japan), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), and JEOL, Ltd. (Japan).
The NMR spectroscopy market sector represents the largest technological segment in 2013 due mainly by its wide application within pharmaceuticals, biotechnology, biopharmaceuticals, food and beverage testing and environmental testing. Out of all the application areas for molecular spectroscopy, it is the pharmaceutical industry which represents the most important.
For more information on the molecular spectroscopy market, see the latest research: Molecular Spectroscopy Market
Follow us on Twitter @CandMResearch