Navigating the NMR Spectrometer Landscape: Market Trends and Innovations by 2032
Research Reports
Sep 29, 2023
Market Overview
As per an Extensive Research Report by Market Research Future (MRFR), Nuclear Magnetic Resonance Spectrometer Market Information By Product, Type, End-Use, and Region – Forecast till 2032” It is anticipated that the market for nuclear magnetic resonance (NMR) spectrometers will rise from USD 0.689 billion in 2023 to USD 1.05 billion by 2032, with a CAGR of 5.50% between 2023 and 2032.
Market Synopsis
Utilizing the magnetic qualities of precise atomic nuclei is done via NMR spectroscopy. The atomic and molecular characteristics are explained using NMR spectrometers. NMR spectrometers are used in research activities to analyze samples for content, purity, and molecular structure. They are also utilized for quality control of samples. The usage of NMR spectrometers is widespread, including in the domains of physical chemistry, biology, food science, and pharmaceutical research. The sample is not lost during the process of analyzing a sample of 10 mg using NMR, which also works in concert with other types of spectroscopies and chemical analysis to provide a complete picture of the structure of the molecules.
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Market Competitive Landscape:
The topmost vendors in the market are
- JEOL Ltd.
- Thermo Fisher Scientific Inc.
- Bruker
- Magritek
- Oxford Instruments
- Nanalysis Corp.
- Anasazi Instruments Inc.
- QOneTec, Advanced Magnetic Resonance Limited
Market USP Covered:
Market Drivers:
The soaring demand for biomedical research and development has resulted in a growth in the world market for NMR spectroscopy. This method aids in the comprehension of macromolecules’ dynamics, structure, and interactions. A WHO report from January 2022 states that about USD 35,047.58 million was made available as funding for biomedical research. Out of this, 70.28% of the money was put towards non-communicable diseases, while the remaining 24.42% was allocated to communicable, maternal, perinatal, and nutritional problems.
The demand for affordable generic medications, the expansion of nuclear magnetic resonance spectroscopy into non-healthcare sectors, and a growing number of sponsors for biomedical research are all contributing to the market’s expansion. The price strategy of the product is impacted by the growing number of customers and the restricted number of manufacturers. As a result, it is expected that market participants will set prices at a premium.
Throughout the predicted timeframe, the market expansion is likely to be supported by increased activities by universities and research centers for expanding the breadth of diagnostics and biomedical research by integrating technologies. For instance, the TISuMR project, which was funded by the EU and had a total budget of USD 318.48 million, was finished in December 2021. The initiative created a technical platform that combines tissue culture with NMR spectroscopy in a lab-on-a-chip.
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Market Restraints:
Over the anticipated time frame, market expansion would be tied down by the scarcity of qualified specialists and the high price of NMR spectrometers. To utilize spectroscopic equipment effectively, qualified employees with the necessary expertise and understanding are needed. The quality of the outcome can be impacted by mistakes like inserting a sample incorrectly in an FTIR or UV-Vis experiment, or by problems like fingerprints or solution bubbles that block the passage of light through the sample. A key factor in obtaining worthwhile results is the selection of the appropriate spectroscopic technique (unique to a certain task). Lack of information about the proper technique selection has an impact on operations’ outcomes, as well as costs, and end users’ money in a number of direct and indirect ways.
COVID 19 Analysis
The usage of nuclear magnetic resonance spectroscopy for COVID-19 research increased in colleges and research institutions as the COVID-19 pandemic broke out worldwide. To examine the three-dimensional structures of COVID-19 molecules using NMR spectroscopy, for instance, researchers from TU Darmstadt and Goethe University Frankfurt teamed up in May 2021. However, government regulations had a considerable influence on the supply chain, which decreased firm revenues.
Market Segmentation
By Product
Instruments and consumables are part of the market segmentation for nuclear magnetic resonance (NMR) spectrometers depending on the product. In 2022, the instruments industry dominated the overall market. Rising investments in R&D projects across several industries, including pharmaceuticals, biotechnology, chemistry, and materials science, are what is driving the need for better (NMR) spectrometers.
By Spectrometer Type
Low-field (NMR) spectroscopy and high-field (NMR) spectroscopy are two types of nuclear magnetic resonance (NMR) spectrometers in the market.
By End-Use
The top end-users in the nuclear magnetic resonance (NMR) spectrometer market are academic, pharmaceutical, and biotech companies, agriculture and food, chemical industry, and others.
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Regional Insights
Since 2022 (45.70%), North America has held the top place in the global market. The steadily rising investment in oil and gas production as well as reserve exploration can be credited with the region’s market expansion. Additionally, it is anticipated that increased spending on research and development to create more advanced nuclear magnetic resonance (NMR) equipment will benefit the regional market.
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