Spectroscopy is one of the most advanced and famous analytical
technologies used extensively in large number of fields, from
healthcare to manufacturing. Spectroscopy is the measurement of
interaction between radiated energies emitted by certain matter. The
spectroscopy is considered as a function of wavelength. In
spectroscopic studies, electromagnetic radiations are allowed to pass
through the sample to be analyzed; the sample molecules absorb only
those wavelengths which can convert their energy level, from ground
state to excited state. The detector installed on other side of
device, records and analyzes the wavelengths which were absorbed and
their respective proportion.
In case of molecular spectroscopy, the given sample molecule absorbs
only those wavelengths which have energies that correspond to energy
difference of occurring transition. Hence, if the transition needs
energy difference of delta E, the sample molecule will absorb only
radiation that corresponds to delta E. Further, the nature and
proposition of wavelength absorption gives the idea about the
transition energies, which is correlated and the structure of
molecule is estimated.
The market of molecular spectroscopy is segmented on the basis of
types of spectroscopy, such as, NMR spectroscopy (Fourier Transform
NMR, continuous wave NMR, solid-state NMR), Raman Spectroscopy
(FT-Raman, surface-enhancing Raman, micro-Raman, and others),
UV-Visible spectroscopy (single-beam UV, array-based UV, double-beam
UV), mass spectroscopy, Infrared spectroscopy (Near IR, Mid-IR,
Far-IR), and others. Further the market is segmented on the basis of
applications, namely, microbiology, bio and nanotechnology,
pharmaceuticals, chemistry, biopharmaceuticals, food industry,
manufacturing industry, environmental analysis and many others.
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Furthermore, the market is segmented on the basis of geography, such
as, North America, Europe, Asia-Pacific and Rest of the World (RoW).
Currently, North America and Europe are the most prominent markets,
owing to extensive research practices. However, Asia-Pacific and some
countries in RoW region are expected to show very lucrative growth in
the upcoming period, owing to enhanced governmental support for
research purposes and growth in research infrastructure and
technologies.
The market is driven by many inflowing drivers, such as, rapid growth
in penetration of technology in the R&D field of various sectors,
increased demand for hyper-sophisticated analytical instrument by
various global research organizations, enhanced governmental support
for research purposes, increased emphasis by pharmaceutical and
chemical organizations on the discovery of newer molecules, frequent
rise in international standards for food and drug safety enforces the
use of hyper-sophisticated equipment in industry and others. Rapid
growth in R&D practices is considered as the most important
driver of the market growth.
For instance, according to the European Federation of Pharmaceutica
Industries and Association (EFPIA), the total R&D expenditure by
pharmaceutical companies in EU27 countries was around USD 41,000
million, in the year 2012. Furthermore, due to enhanced penetration
of technology, the utilization and hence demand for the advanced
equipment is rapidly increasing. On the other hand, major restraints
include huge expenditure for initial set-up and instrumentation, high
cost of maintenance, need of technically well skilled personnel and
limited awareness in many countries of the world. Initial cost is the
biggest hurdle in the market growth. For instance, the basic
instrument of UV-Visible spectroscopy (the easiest and used method)
costs around USD 5,000 to 14,000. The key opportunity includes
development of cost-effective devices with enhanced accuracy of the
results.
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Some of the major players operating in this market includes
PerkinElmer, Inc., Aglent Technologies, Inc., Thermo Fischer
Scientific, Inc., Bruker Corporation, Jeol, Inc. and Danaher
Corporation amongst others.
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