Nuclear Magnetic Resonance Spectroscopy Market Size, Share, Industry Analysis, Trends, Growth, 2032

Nuclear Magnetic Resonance Spectroscopy Industry Prospective:

The global nuclear magnetic resonance spectroscopy market size was evaluated at $725 million in 2023 and is slated to hit $1,026 million by the end of 2032 with a CAGR of nearly 5.2% between 2024 and 2032.

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Nuclear Magnetic Resonance Spectroscopy Market: Overview

Nuclear magnetic resonance spectroscopy is a spectroscopy method used by biochemists and chemists to investigate the characteristics of organic atoms. Furthermore, this technique applies to various kinds of samples containing nuclei possessing the spin. For instance, nuclear magnetic resonance can quantitatively assess mixtures that contain already known compounds.  

Key Insights

• As per the analysis shared by our research analyst, the global nuclear magnetic resonance spectroscopy market is projected to expand annually at the annual growth rate of around 5.2% over the forecast timespan (2024-2032) 
• In terms of revenue, the global nuclear magnetic resonance spectroscopy market size was evaluated at nearly $725 million in 2023 and is expected to reach $1,026 million by 2032. 
• The global nuclear magnetic resonance spectroscopy market is anticipated to grow rapidly over the forecast timeline owing to surging chronic ailments including heart disorders, cancer, and diabetes in emerging economies. 
• In terms of type, the high-field segment is slated to register the highest CAGR over the forecast period. 
• In terms of product, the instruments segment is slated to contribute majorly towards the global industry size in the upcoming years. 
• Based on end-use, the pharmaceutical & biotech firms segment is predicted to contribute majorly to the segmental surge in the upcoming years.
• Region-wise, the North American nuclear magnetic resonance spectroscopy industry is projected to register the fastest CAGR during the forecast timespan.

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Nuclear Magnetic Resonance Spectroscopy Market: Growth Factors

A rise in healthcare issues across the globe to prompt global market expansion by 2032

Surging chronic ailments including heart disorders, cancer, and diabetes in emerging economies will steer the growth of the global nuclear magnetic resonance spectroscopy market. The thriving biotech and pharmaceutical sectors are likely to contribute majorly towards the global market earnings in the foreseeable future. A massive allocation of funds for biomedical research activities along with inexpensive generic medicines has enlarged the scope of growth of the market globally. Furthermore, supportive programs introduced by universities and research units have accounted lucratively towards the growth of biomedical research & diagnostics, thereby driving global market trends.

Nuclear Magnetic Resonance Spectroscopy Market: Restraints

High expenditure incurred on the product purchase can inhibit the global industry expansion over 2024-2032

Surging instrument costs have curtailed the expansion of the global nuclear magnetic resonance spectroscopy industry. Furthermore, determining the structures for high molecular weight molecules is a big problem and this can limit the demand for nuclear magnetic resonance spectroscopy in the healthcare sector.  

Nuclear Magnetic Resonance Spectroscopy Market: Opportunities

Technological innovations in the healthcare sector to create new growth facades for the global market

Breakthroughs in medical imaging including MRI, CT scan, MRI, and X-ray are anticipated to open new avenues of growth for the global nuclear magnetic resonance spectroscopy market. An increase in contagious diseases such as tuberculosis in the aging populace can elevate the global market size in the years ahead.  

Nuclear Magnetic Resonance Spectroscopy Market: Challenges

A scarce availability of cooling agents can challenge the global industry growth over the forecast period

A rise in the maintenance charges of the nuclear magnetic resonance spectroscopy equipment as the latter requires powerful magnets as a source of energy can restrict the product demand. Additionally, the lack of availability of cryogenic liquids for cooling the products can challenge the expansion of the global nuclear magnetic resonance spectroscopy industry.

Nuclear Magnetic Resonance Spectroscopy Market: Segmentation

The global nuclear magnetic resonance spectroscopy market is divided into type, product, end-use, and region.                                             

In type terms, the nuclear magnetic resonance spectroscopy market across the globe is bifurcated into low-field and high-field segments. Additionally, the high-field segment, which gathered nearly 71% of the global market earnings in 2023, is anticipated to record the fastest annual growth rate in the forecast timeline. The expansion of the segment in the next couple of years can be a result of the large-scale use of high-field nuclear magnetic resonance spectroscopy techniques for imaging and chemical analysis in a slew of end-use sectors. Apart from this, the product demand in hospitals & clinics for advanced research activities is likely to spur the segmental surge in the years ahead.   

Based on the product, the global nuclear magnetic resonance spectroscopy industry is divided into instruments and consumables segments. Moreover, the instruments segment, which accumulated approximately 65% of the global industry share in 2023, is projected to make large contributions toward the global industry share in the forecast period. The segmental surge in the ensuing years can be attributed to the large-scale use of NMR spectroscopy techniques in research institutes. Moreover, the need for compact, portable, and efficient instruments is likely to aid the segmental surge.  

Based on the end-use, the global nuclear magnetic resonance spectroscopy market is divided into chemical manufacturing firms, academic institutes, food & agricultural institutions, and pharmaceutical & biotech firms segments. Furthermore, the pharmaceutical & biotech firms segment, which led the segmental surge in 2023, is predicted to dominate the growth of the segment even in the foreseeable future. The growth of the segment can be attributed to a rise in the NMR spectroscopy use in drug molecule development. Moreover, the need to determine the impurities in the human body has further contributed to segmental growth.    

Nuclear Magnetic Resonance Spectroscopy Market: Report Scope

Nuclear Magnetic Resonance Spectroscopy Market: Regional Insights

Asia-Pacific is expected to maintain its leadership status in the global market in the next couple of years

Asia-Pacific, which contributed approximately 53% of the global nuclear magnetic resonance spectroscopy market size in 2023, is expected to maintain dominance in the global market in the years ahead. In addition to this, the regional market expansion in the upcoming years can be owing to a rise in biomedical research activities and easy availability of raw components in countries such as China and India. Furthermore, large-scale penetration of the NMR spectroscopy technique in the food & beverages sector in Asian countries will augment the progress of the market in the APAC zone in the coming decade.   

North American nuclear magnetic resonance spectroscopy industry is projected to record the fastest growth rate in the forecast timeline. The swift progression of the industry in the sub-continent can be a result of the flourishing biotech and pharmaceutical sectors in the countries of North America. The humungous need for cutting-edge analytic procedures in developing drug molecules will propel the expansion of the industry in the sub-continent. Moreover, Canada and the U.S. are key regional revenue growth drivers of the sub-continent.

Key Developments

• In the first half of 2021, Bruker Corporation, a U.S.-based firm manufacturing scientific devices for material & molecular research, launched a super FT-NMR spectrometer referred to as AvanceCore. Moreover, the product provides high-quality nuclear magnetic resonance at reasonable costs, thereby making it accessible in the healthcare sector.
• In October 2023, Magritek GmbH, a key electronics manufacturer based in Germany, set up a benchtop NMR that can identify & quantify analytes during chemical reactions in the constant flow and batch processes. Such moves will steer the growth of NMR spectroscopy equipment in the healthcare sector of Europe.      

Nuclear Magnetic Resonance Spectroscopy Market: Competitive Space

The global nuclear magnetic resonance spectroscopy market profiles key players such as:

• QOneTec
• JEOL Ltd
• Magritek GmbH
• Oxford Instruments
• Nanalysis Corporation
• Thermo Fisher Scientific Inc.
• Bruker Corporation
• Anasazi Instruments Inc.
• Advanced Magnetic Resonance Limited.

The global nuclear magnetic resonance spectroscopy market is segmented as follows:

By Type

• Low-Field
• High-Field

By Product

• Instruments
• Consumables

By End-Use

• Chemical Manufacturing Firms
• Academic Institutes
• Food & Agricultural Institutions
• Pharmaceutical & Biotech Firms

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa