Spectroscopy equipment and accessories market is anticipated to grow at a moderate CAGR of 3.7% during the forecast period (2023-2030). The spectrometry is one of the primary technologies employed in many analytical applications, including drug development processes, proteomics, metabolomics, forensic analysis, and pharmaceutical analysis.. The growing adoption of this technique across various stages of drug discovery processes has increased in recent years. According to National Institute of Health (NIH),The procedures of finding and developing new drugs both heavily rely on NMR spectroscopy. Determining protein structure in solution and assessing medication metabolism and toxicity in patients are a few of these applications. In April 2023, JEOL Ltd. announces launch for NMR, a revolutionary cryogen reclamation system. It can significantly lessen the inevitable evaporation of liquid helium and liquid nitrogen used as cryogens for the superconducting magnet of an NMR device. Such developments are driving the global spectroscopy equipment and accessories market

Segmental Outlook 

The global spectroscopy equipment and accessories market is segmented on the spectroscopy type, and technology. Based on the spectroscopy type the market is sub-segmented into infrared spectroscopy, ultravoilet-visibile spectroscopy, X-ray spectroscopy, nuclear magnetic resonance spectroscopy. Based on the technology, the market is sub-segmented into atomic absorption, atomic Emission, atomic fluorescence. Among the technology, the atomic fluorescence sub-segment is anticipated to hold a considerable share of the market owing to the rise in development technology advancement that lead to variety of different metals can be detected, owing to increase inatomic fluorescence is a flexible testing technique. Furthermore, as it is a relatively simple approach, samples can be examined quickly and with a high throughput, yielding useful information in a brief period of time.

The Nuclear Magnetic Resonance Spectroscopy Sub-Segment Held a Considerable Share of the Global Spectroscopy Equipment and Accessories Market

Among the spectroscopy type, the nuclear magnetic resonance spectroscopysub-segment is expected to hold a considerable share of the globalspectroscopy equipment and accessoriesmarket. The increase in usage of nuclear magnetic resonance (NMR) spectroscopy in food science, medicine, and other fields is associated with the segmental growth. NMR is also frequently utilized in innovative medical imaging techniques, such as magnetic resonance imaging (MRI). For instance, in April 2023,  QUAD Systems, a manufacturer of portable NMR machines and MRI technology for healthcare and industrial applications, has debuted the new 400 MHz high-field NMR system in collaboration with Nanalysis at the conference. As one of the essential parts of this new system, Nanalysis worked together and provided the console.

Regional Outlook

The global spectroscopy equipment and accessories market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe.  Atomic and molecular spectrometers profit from technological advancements owing to the increased significance of miniaturization in spectroscopy.The key market player includes Hitachi High-Tech Corp.,Hope Microelectronics Co., Ltd. Horiba, Ltd., Rigaku Corp., Shimadzu Corp., and others.

Global Spectroscopy Equipment and Accessories Market Growth, by Region 2023-2030

The North America Region is Expected to Grow at a Significant CAGR in the Global Spectroscopy Equipment and Accessories Market

Among all regions, the North America region is anticipated to grow at a considerable CAGR over the forecast period. Increased spending on spectroscopic equipment and accessories-related research and development is associated with driving regional growth. A set of tests marked spectroscopy is added to an MRI scan of the brain or spine to track the chemical metabolism of a potential tumor.According to National Institute of Standards and Technology (NIST), in July 2023, New NIST measurements are intended to improve and validate spectroscopy technologies based on portable MRI. The capacity of medicine and the delivery of healthcare are expected to increase with the introduction of a new generation of smaller, more affordable, and portable spectroscopy devices based on MRI.

In North America, the market is expected to witness the fastest growth rate owing to the presence of a strong research base for new drug development. This is expected to boost the adoption of this technique in the region. The majority of the region is attributable to prominent players in novel diseases. With the goal of developing novel resins for the isolation and purification of vaccines, players such as Agilent Technologies, Inc. regularly engage in intensive research and development. The market is expanding as a result of increased spectroscopy use in the biotechnology, agricultural, chemical, and pharmaceutical industries, as well as rising public awareness of and concern over chronic diseases.

Market Players Outlook

The major companies serving the spectroscopy equipment and accessories market include Bruker Corp., BüchiLabortechnik AG, HOPE Microelectronics Co., Ltd., Shimadzu Corp., TOPTICA Photonics AG, Waters Corp.and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, Partnership between Biognosys and Bruker for advanced proteomics CRO services for international biopharma and biomarker customers. Customers of CRO services and proteomics software benefit from Biognosys' mass spectrometry-based proteomics solutions as they learn how to integrate the genome, transcriptome, and phenotype to investigate the static and dynamic dynamics of disease biology.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global spectroscopy equipment and accessories market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.