Nuclear Magnetic Resonance Spectroscopy Market Size Worth $1,034.14 Million by 2030 | CAGR: 5.2%

The global nuclear magnetic resonance spectroscopy market size is expected to reach USD 1,034.14 million by 2030, according to a new study by Polaris Market Research. The report “Nuclear Magnetic Resonance Spectroscopy Market Share, Size, Trends, Industry Analysis Report, By Type (Low field, High-field); By Product (Instruments, Consumables); By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.

The growing demand for nuclear magnetic resonance spectroscopy is due to its rise in application in many pharmaceutical and biotech companies. Furthermore, increasing the adoption of techniques to develop drugs and a rise in demand for generic medicine can bolster market growth.

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The unique ability of nuclear magnetic resonance spectroscopy to evaluate both quantitative and non-destructive analysis in solution and solid state is raising its demand in the biological, environmental, healthcare, and non-healthcare sectors. Furthermore, the expansion of NMR in healthcare and academic research centers for better responses to the detection of any abnormal molecular compound is driving the growth of the market.

The COVID-19 pandemic had a positive impact on the demand for the market as it was able to analyze the activity of the covid-19 virus with the proteins of the human body. Furthermore, its demand also rises in various industries such as food and beverage, oil and gas, and majorly in the healthcare industry, analyzing abnormal behavior of many non-curable diseases, which positively impacts the growth of the market.

Nuclear Magnetic Resonance Spectroscopy Market Report Highlights

• Growing demand for the high-field segment in several applications, such as chemical analysis, medical imaging, and food protection, is expected to drive product demand.
• Academic research is the second largest segment to grow and is expected to continue its dominance owing to the high performance of NMR in-house and the collaboration of product developers and service providers of pharmaceutical companies to develop new drugs. 
• Instruments are expected to spearhead revenue growth due to their extensive use in medicinal and research clinics and advancement in technologies to develop multinuclear spectrometer that operates on a high magnetic field.
• The Asia Pacific is expected to grow over the forecast period on account of the massive demand for food safety and the availability of raw materials across developing nations in the region, such as India and China.
• Major players operating in the industry include Advanced Magnetic Resonance Limited, Anasazi Instruments, Inc., Applied Rigaku Technologies, Inc., Bourevestnik, Bruker, Dandong Dongfang Measurement & Control Technology Co, Ltd, Fast ComTec GmbH, Fischer Technology Inc., Hefei Jingpu Sensor Technology Co, Ltd.

Polaris Market Research has segmented the Nuclear Magnetic Resonance Spectroscopy market report based on, type, product, end-use, and region:

Nuclear Magnetic Resonance Spectroscopy, Type Outlook (Revenue - USD Million, 2018 - 2030)

• Low-field NMR Spectroscopy
• High-field NMR Spectroscopy

Nuclear Magnetic Resonance Spectroscopy, Product Outlook (Revenue - USD Million, 2018 - 2030)

• Instruments
• Consumables

Nuclear Magnetic Resonance Spectroscopy, End-User Outlook (Revenue - USD Million, 2018 - 2030)

• Academic Research
• Pharmaceutical & Biotech Companies
• Agriculture & Food
• Chemical Industry

Nuclear Magnetic Resonance Spectroscopy, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa