The demand for sophisticated analytical instruments in the chemical and biopharmaceutical industries, as well as increased demand for high-end research and development activities, are some of the factors propelling the growth of the NMR Spectrometer Market. A number of government programmes to promote the use of cutting-edge analytical methods, such as NMR, in the chemical, agricultural, and food industries are also anticipated to spur market expansion. Additionally, increasing the focus on research & development initiatives globally is also projected to spur market expansion.
Due to their usage in the detection and analysis of substances, NMR spectrometers are becoming more and more necessary all over the world. In the academic, pharmaceutical and biotechnology, chemical, oil and gas, and food and agriculture sectors, they are widely employed. Because they can find different kinds of molecules without harming the sample, NMR spectrometers are in more demand. They are preferable to other spectrometers due to their capacity to identify and analyse a variety of chemical substances at the same time. The NMR spectrometer market is being driven by the expanding uses of NMR spectrometers in drug discovery, development, and diagnostics.
Compared to more traditional analytical techniques like mass spectrometry and infrared analysis, NMR spectrometers have a number of advantages. NMR spectrometers can swiftly and precisely analyse a variety of substances. In contrast, conventional techniques like gas chromatography may need hours or even days to get results. Due to their affordability, NMR spectrometers are accessible to small and medium-sized businesses. Because they are non-invasive, NMR spectrometers do not change or harm samples. This enables the same sample to be analysed more than once throughout time.
The structure and composition of materials can be determined using nuclear magnetic resonance (NMR) spectrometers. They reveal the physical and chemical characteristics of molecules using an applied magnetic field, giving precise information on the molecules' constituent parts. Numerous industries, including pharmaceuticals, biotechnology, chemistry, and oil and gas, use NMR spectroscopy.
The market for NMR spectrometers is anticipated to reach $3.67 billion by 2031, expanding at a CAGR of 5.17% from 2021 to 2031.
In the near future, it's expected that some constraints, like the high cost of installation and maintenance, may impede the expansion of this industry. Additionally, the growth of this market in the anticipated term is likely to be constrained by a lack of qualified personnel and technical know-how to operate NMR spectrometers. But as technology develops, businesses should be able to offer automated NMR spectrometers that are simple to use and require no upkeep. In the near future, this is anticipated to open up new potential for the global NMR spectrometer market.
Thermo Fisher Scientific Inc., Agilent Technologies Inc., Magritek Ltd., Oxford Instruments Plc., and Bruker Corporation are among the key companies competing in the worldwide NMR spectrometer market.
The 500MHz Type to Emerge as the Most Lucrative Segment
The sub-100MHz, 300-400 MHz, 500 MHz, 600 MHz, 700-750 MHz, 800-850 MHz, and 900+ MHz categories make up the NMR spectrometer market. Due to its higher resolution and superior signal-to-noise ratio compared to other types, the 500MHz category will dominate the market among these sorts. As it is employed for complex structure elucidation and cutting-edge method development, the market for 600MHz NMR spectrometers is also anticipated to increase rapidly.
The Most Popular Application Segment is Pharma & Biotech
By application, the NMR spectrometer market is divided into academic, pharmaceutical and biotechnology, chemical, agricultural and food, oil and gas, and others. Due to its use in metabolomics applications and drug discovery and development, the Pharma & Biotech segment is predicted to dominate the market. With the rising demand for chemical synthesis, analysis, and process optimization, the chemical segment is anticipated to increase rapidly.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
The NMR spectrometer market is divided into five regions based on geography: North America, South America, Asia Pacific, Europe, the Middle East, and Africa. Due to the existence of large competitors in this area, North America accounts for a sizable portion of the global market. Due to the growing use of nuclear magnetic resonance spectroscopy for drug discovery and metabolomics in nations like India, China, and Japan, the Asia Pacific area is anticipated to develop at the fastest rate. Due to rising demand from academic and research institutions, the European market is also anticipated to experience considerable growth.
COVID-19 Impact and Market Status
The COVID-19 pandemic's onset has had a substantial influence on the world market for NMR spectrometers. Production, supply chain, and logistics hiccups have severely slowed the industry's expansion. Additionally, disruptions in manufacturing activities caused by strict government regulations damage numerous sectors of the global economy. As a result, there has been a decline in the demand for NMR spectrometers, which has had an impact on the market's expansion. Nevertheless, until 2031, a steady rate of development is anticipated for the global NMR spectrometer industry. Industry experts claim that this is due to pharmaceutical and biotechnology businesses' increased emphasis on investing in R&D projects for the development of novel products and treatments.
Latest Innovations in the Global NMR Spectrometer Market: A Snapshot
• The development of nuclear magnetic resonance (NMR) spectroscopy, which is anticipated to increase demand for NMR spectrometers in North America, is being supported by a number of funding launched by the U.S. Department of Energy.
• The demand for NMR spectrometers is projected to increase over the next several years as a result of the National Institutes of Health (NIH) funding numerous programmes to create sophisticated imaging systems that utilise NMR spectroscopy.
NMR Spectrometer Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 3.67 billion|
|Growth Rate||CAGR of 15.7% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Thermo Fisher Scientific Inc., Agilent Technologies Inc., Magritek Ltd., Oxford Instruments Plc., and Bruker Corporation|
Key Segments of the NMR Spectrometer Market
By Type Overview, 2021-2031 (USD Billion)
• 300 -400 MHz500 MHz
• 600 MHz
• 700-750 MHz
• 800-850 MHz
• 900+ MHz
By Application Overview, 2021-2031 (USD Billion)
• Pharma & Biotech
• Chemical, Agriculture & Food
• Oil and Gas Others
By Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa