At 3.7% CAGR, Middle East & Africa Molecular Spectroscopy Market is Projected to be Worth US$ 140.22 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa molecular spectroscopy market was valued at US$ 104.70 million in 2022 and is expected to reach US$ 140.22 million by 2030, recording a CAGR of 3.7% from 2022 to 2030. Growing adoption and use of molecular spectroscopy and rapid growth of pharmaceutical industry are among the critical factors attributed to drive the Middle East & Africa molecular spectroscopy growth.

Molecular spectroscopy is used in the research and development (R&D) of pharmaceuticals and other biotechnological products. Near-infrared (NIR) spectroscopy is one of the types of molecular spectroscopy that has gained wide recognition in the pharmaceutical industry in recent years due to its huge advantages over other analysis techniques; it helps in effortless sample preparation and exhibits the ability to obtain chemical and physical sample parameters from a single spectrum. Raman spectroscopy is also one of the powerful analytical techniques implemented in drug discovery and pharmaceutical development. It is used to study structural activity relationships and improve reaction conditions and other parameters, such as polymorph and formulation screening, that lead to the scale required to move drug compounds from discovery to development. Further, nuclear magnetic resonance (NMR) spectroscopy is considered a robust tool, and the use of this technique for developing novel therapeutics has increased. In March 2021, Bruker Corp. announced the launch of a permanent magnet Fourier 80 system, a next-generation, 80 MHz high-performance Fourier transform NMR benchtop spectrometer used for multinuclear gradient spectroscopy with industry-standard automation options.

On the contrary, shortage of technically skilled personnel and high cost of maintenance and installation hampers the growth of Middle East & Africa molecular spectroscopy market.

Based on product, the Middle East & Africa molecular spectroscopy market is bifurcated into instrument and accessories. The instrument segment held 83.6% market share in 2022, amassing US$ 87.51 million. It is projected to garner US$ 119.30 million by 2030 to register 3.9% CAGR during 2022–2030.

In terms of technology, the Middle East & Africa molecular spectroscopy market is categorized into UV-Visible spectroscopy, infrared spectroscopy, nuclear magnetic resonance spectroscopy, Raman spectroscopy, Near-infrared spectroscopy, and others. The UV-Visible spectroscopy segment held 26.6% share of Middle East & Africa molecular spectroscopy market in 2022, amassing US$ 27.86 million. It is anticipated to garner US$ 35.91 million by 2030 to expand at 3.2% CAGR during 2022–2030.

By application, the Middle East & Africa molecular spectroscopy market is segmented into academic and research applications, biotechnology applications, pharmaceutical applications, and others. The academic and research applications segment held 42.5% share of Middle East & Africa molecular spectroscopy market in 2022, amassing US$ 44.47 million. It is projected to garner US$ 61.97 million by 2030 to expand at 4.2% CAGR from 2022 to 2030.

Based on country, the Middle East & Africa molecular spectroscopy market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 30.5% share of Middle East & Africa molecular spectroscopy market in 2022. It was assessed at US$ 31.95 million in 2022 and is likely to hit US$ 45.37 million by 2030, registering a CAGR of 4.5% during 2022–2030.

Key players operating in the Middle East & Africa molecular spectroscopy market are Horiba Ltd; Thermo Fisher Scientific Inc; Merck KGaA; Revvity Inc; JEOL Ltd; Shimadzu Corp; JASCO Corp; Bruker Corp; Agilent Technologies, Inc.; Oxfords Instruments plc; and Teledyne Princeton Instruments, among others.

• In July 2021, Horiba Ltd, a leading manufacturer of instruments for measurement and analysis, developed a proprietary gas analysis technology named InfraRed Laser Absorption Modulation (IRLAM) and launched four new products with this technology. It is an infrared gas measurement technology that allows real-time measurement of gases that were previously difficult to measure with conventional infrared gas analysis technologies.
• In February 2021, JEOL Ltd, a leading manufacturer of electron microscopes and other scientific instruments, industrial equipment, and medical equipment, released the JMS-T2000GC "AccuTOF™ GC-Alpha," the model of AccuTOF™ GC series gas chromatograph – time-of-flight mass spectrometers. It includes two technologies, which comprise high-performance hardware and analysis software for simple, speedy operation (msFineAnalysis).

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