Nuclear Magnetic Resonance Spectroscopy Market Size to Surpass USD 2.26 Billion by 2032 at 5.50% CAGR – Report by Market Research Future (MRFR)
Nuclear Magnetic Resonance Spectroscopy Market Trends and Insights By Product (Instruments and Consumables), By Type (Low-field NMR Spectroscopy and High-field NMR Spectroscopy), By End-use (Academic, Pharmaceutical & Biotech Companies, Agriculture & Food, Chemical Industry and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World), Competitive Market Growth, Size, Share and Forecast to 2032
New York, USA, Sept. 19, 2023 (GLOBE NEWSWIRE) — Nuclear Magnetic Resonance Spectroscopy Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Nuclear Magnetic Resonance Spectroscopy Market Information By Product, Type, End-Use And By Region – Forecast Till 2032, the market is projected to grow from USD 1.47 Billion in 2023 to USD 2.26 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 – 2032).
The progress in nuclear magnetic resonance (NMR) technology has brought about a significant transformation in research and applications across several scientific disciplines. These improvements have played a pivotal role in the growth and development of the NMR spectroscopy sector. These advancements have significantly augmented the capabilities of NMR spectroscopy, rendering it a versatile and indispensable instrument for researchers across several disciplines such as academia, pharmaceuticals, biotechnology, materials science, and related sectors.
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|Market Size in 2032||USD 2.26 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Type and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Increasing demand in the biotechnology and pharmaceutical sectors|
|Innovations in NMR technology and growth in structural biology interest|
Nuclear Magnetic Resonance Spectroscopy Market Competitive Dynamics:
Key companies in the nuclear magnetic resonance spectroscopy market include
- JEOL Ltd.
- Thermo Fisher Scientific Inc.
- Oxford Instruments
- Nanalysis Corp.
- Anasazi Instruments, Inc.
- Advanced Magnetic Resonance Limited
Nuclear Magnetic Resonance Spectroscopy Market Trends:
The market growth is being enhanced by many major market factors, including the increasing demand in the biotechnology and pharmaceutical industries, advancements in NMR technology, a growing interest in structural biology, and a heightened focus on metabolomics. Efforts have also been undertaken to tackle the challenge of sensitivity in nuclear magnetic resonance (NMR) spectroscopy. Techniques such as para-hydrogen-induced polarization (PHIP) and hyperpolarization have been developed with the aim of enhancing signal intensities and facilitating the identification of low-concentration samples and transitory reaction intermediates. These methodologies have been employed throughout several fields, encompassing investigations pertaining to catalysis and metabolic analyses.
Open-access and collaborative methodologies have gained favor within the NMR community as well. The utilization of common NMR spectra and structural databases facilitates the exchange of information and promotes collaborative research efforts among teams. The acceleration of research has been facilitated by the reduction of duplication and the provision of researchers with diverse reference data.
The integration of nuclear magnetic resonance (NMR) with supplementary analytical techniques like as mass spectrometry and chromatography has resulted in the development of robust hybrid devices. These integrated platforms offer complementary data, enabling researchers to get a more comprehensive understanding of complex samples and systems. Significant progress has been achieved in the fields of metabolomics, proteomics, and materials characterisation as a direct outcome of these aforementioned findings. Consequently, this has led to an increase in the revenue of the Nuclear Magnetic Resonance Spectroscopy market.
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The negative impact on market revenues was caused by supply chain difficulties and regulatory constraints.
An Analysis of the COVID-19 Pandemic:
The nuclear magnetic resonance spectroscopy market saw a favorable effect from the COVID-19 pandemic as the utilization of NMR instruments facilitated the detection and structural analysis of intricate macromolecules associated with the COVID-19 virus. Moreover, there was a need for high-field nuclear magnetic resonance (NMR) spectroscopy to ascertain the interaction between the SARS-CoV-2 virus and the vaccination, as researchers sought to examine the metabolic pathways involved during this particular phase. Furthermore, with the resumption of the business, nuclear magnetic resonance spectroscopy has shown to be a valuable tool in the diagnosis of several diseases, including cancer, Parkinson’s disease, and other mental disorders.
Nuclear Magnetic Resonance Spectroscopy Market Segmentation:
In 2022, the market was predominantly led by the instruments sector. The advancement of nuclear magnetic resonance (NMR) instrument technology has been a significant driver behind the rise of the industry.
In 2022, the high-field NMR spectroscopy category had the highest revenue generation. High-field nuclear magnetic resonance (NMR) equipment, which operate at magnetic fields of 600 MHz and more, have experienced a surge in popularity.
In 2022, the market was predominantly led by the pharmaceutical and biotech firms sector. Nuclear Magnetic Resonance (NMR) spectroscopy plays a pivotal role as a crucial instrument employed by pharmaceutical and biotechnology enterprises throughout the first phases of drug exploration.
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Nuclear Magnetic Resonance Spectroscopy Market Regional Analysis:
In 2022, the North America Nuclear Magnetic Resonance Spectroscopy Market had a significant majority share of 45.80% in this particular market. North America, namely the United States, harbors a robust pharmaceutical and biotechnology industry. The need for advanced analytical techniques in the fields of drug development, structural biology, and quality control serves as the driving force behind the growth of the NMR spectroscopy market.
The European market for nuclear magnetic resonance spectroscopy holds the second-largest market share. Europe is renowned for its strong scientific community and multitude of research organizations. These academic institutions engage in advanced research that heavily relies on Nuclear Magnetic Resonance (NMR) technology, therefore making significant contributions to the expansion of the industry.
The Asia-Pacific region is projected to have the highest compound annual growth rate (CAGR) in the Nuclear Magnetic Resonance Spectroscopy Market between the years 2023 and 2032. The Asia Pacific region has witnessed a significant growth in the establishment of academic and scientific institutions. The use of NMR spectroscopy by various companies for diverse research applications has witnessed an increased frequency, hence contributing to the expansion of the market.
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