Molecular Spectroscopy Market to Reach USD 9.04 Billion by 2034, Driven by Expanding Healthcare Applications and Research Growth

The molecular spectroscopy market size is calculated at USD 7.15 billion in 2025 and is expected to reach around USD 9.04 billion by 2034, growing at a CAGR of 2.64% for the forecasted period.

Ottawa, Oct. 28, 2025 (GLOBE NEWSWIRE) -- The global molecular spectroscopy market size was valued at USD 6.97 billion in 2024 and is predicted to hit around USD 9.04 billion by 2034, rising at a 2.64% CAGR, a study published by Towards Healthcare a sister firm of Precedence Research. The global molecular spectroscopy market is driven by its growing diagnostic applications, increasing R&D, growing demand for personalized medicines, and increasing innovations.

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Key Takeaways

North America dominated the market in 2024.
Asia Pacific is expected to witness the fastest growth in the molecular spectroscopy market during the forecast period.
By product, the instruments segment led the market in 2024.
By product, the consumables segment is expected to witness significant growth during the forecast period.
By technology, the NMR spectroscopy segment led the market in 2024.
By technology, the mass spectroscopy segment is expected to witness significant growth during the forecast period.
By application, the pharmaceutical applications segment led the market in 2024.
By application, the academic research segment is expected to witness significant growth during the forecast period.

What is Molecular Spectroscopy?

The molecular spectroscopy market is driven by increasing technological advancements, expanding pharmaceutical and biotechnology industries, and growing food safety regulations. Molecular spectroscopy encompasses the use of spectroscopic techniques for the analysis of biological molecules such as DNA, proteins, etc. They are being used for drug testing, medical imaging, drug development, monitoring treatments, biomarker discovery, and medical research purposes. Moreover, their non-invasive approach with accurate and fast detection of diseases is increasing their use for the diagnosis of various diseases such as cancer, cardiovascular diseases, diabetes, infections, etc.

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Key Metrics and Overview

Metric	Details
Market Size in 2025	USD 7.15 Billion
Projected Market Size in 2034	USD 9.04 Billion
CAGR (2025 - 2034)	2.64	%
Leading Region	North America
Market Segmentation	By Product Type, By Technology, By Application, By Region
Top Key Players	Bruker Corporation, ABB Ltd., Hitachi Ltd., Agilent Technologies Inc., JEOL Ltd., Horiba Ltd., Medtronic plc, Merck KGaA, VIAVI Solutions Inc., JASCO Inc., Shimadzu Corporation, PerkinElmer Inc., Thermo Fisher Scientific Inc.

What are the Major Growth Drivers for the Molecular Spectroscopy Market?

Growing research and development is the major driver in the market, increasing the demand for molecular spectroscopy. They are being used for drug discovery, impurity detection, quality controls, and many more applications. Additionally, the growth in the development of personalized medicines, biologics, and biosimilars is also increasing their use for the characterization of proteins, metabolites, and other molecules. Furthermore, growing pharmaceutical and biotechnology applications, food safety testing, environmental testing, and technological advancements are other market drivers.

What are the Key Drifts in the Molecular Spectroscopy Market?

The market has been expanding due to the growing collaborations, investments, and acquisitions to launch and enhance the use of various molecular spectroscopy technologies.

In June 2025, to co-sell SCIEX mass spectrometry systems with Evosep Eno, promoting high-throughput proteomics, a collaboration was formed between Evosep Biosystems and Danaher Corporation.
In April 2025, in order to solidify the clinical mass spectrometry capabilities involving novel high-throughput, chromatography-free diagnostic assays, a majority investment was announced by Bruker Corporation in RECIPE Chemicals + Instruments.
In December 2024, to revolutionize biomolecular analysis, a collaboration between Isospec Analytics and Agilent Technologies was announced. The cutting-edge technology of Isospec will be merged with the high-resolution mass spectrometry (MS) and liquid chromatography (LC) capabilities of Agilent in this collaboration.
In October 2024, the Electron Paramagnetic Resonance (EPR) business of Bridge12 was announced to be successfully acquired by Bruker BioSpin Group. With this acquisition, the suite of EPR spectroscopy offerings of Bruker will be enhanced.

What is the Significant Challenge in the Molecular Spectroscopy Market?

High cost acts as the major limitation in the market, as the cost associated with the technologies and instruments is high. At the same time, they require continuous calibration, maintenance, software updates, along expertise for conducting complex procedures, which makes their acquisition and installation expensive, limiting their use. Moreover, shortage of skilled personnel, operational complexities, and regulatory hurdles are the other market challenges.

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Regional Analysis

Why did North America Dominate the Molecular Spectroscopy Market in 2024?

In 2024, North America captured the biggest revenue share of the market, due to a well-established healthcare infrastructure, which increased the use of molecular spectroscopy for different types of applications. The presence of advanced industries also increased their use for drug discovery and development, quality control, personalized medicine development, and early disease diagnosis. Moreover, the hospitals, labs, and clinics also increased their use for diagnostic purposes, where the institution also increased its adoption due to growing research and development activities, which were supported by the healthcare investments and government funding. Thus, this contributed to the market growth.

What Made the Asia Pacific Show the Fastest Growth in the Molecular Spectroscopy Market in 2024?

Asia Pacific is expected to show the fastest growth in the market during the forecast period, driven by the industrial expansion where molecular spectroscopy is being used in drug development, biologics production, as well as for generic drug manufacturing. At the same time, the expanding healthcare is also increasing its utilization, driving its innovations, which are being supported by government investments. Moreover, the growing regulatory standards and R&D are increasing their use in different fields, where portable spectroscopy devices are also being developed by companies at affordable prices. Additionally, the government initiatives are also encouraging their use in environmental monitoring to control the growing environmental pollution, which in turn is promoting the market growth.

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Segmental Insights

By Product Analysis

Why Did the Instruments Segment Dominate in the Molecular Spectroscopy Market in 2024?

By product, the instruments segment held the largest share of the market in 2024, as they were an essential component. The growth in drug development and research and development has increased their use in biotechnology, pharmaceutical, and environmental science sectors. Moreover, the advancements in the instruments to enhance their speed and accuracy have also increased their utilization and use for various applications.

By product, the consumables segment is expected to show lucrative growth during the predicted time. Due to growing diagnostic applications, molecular spectroscopy is being used repeatedly, which is increasing the demand for its consumables, where the growing disease burden is also driving their demand for early disease diagnosis. Additionally, the growing development of portable and point-of-care testing devices is also driving their use.

By Technology Analysis

Which Technology Type Segment Held the Dominating Share of the Molecular Spectroscopy Market in 2024?

By technology, the NMR spectroscopy segment held the dominating share of the market in 2024, driven by its increased use in drug discovery and development. They were also used in metabolomics, forensics, and clinical diagnostics. At the same time, the growth in their innovations and their enhanced accuracy, resolution, and non-destructive analysis also increased their use.

By technology, the mass spectroscopy segment is expected to show lucrative growth during the upcoming years. The rise in research and development involving genomics, proteomics, personalized medicines, etc., is increasing their use. Moreover, their high sensitivity, accuracy, and throughput screening are increasing their use in food safety, forensics, and environmental testing applications.

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By Application Analysis

What Made Pharmaceutical Applications the Dominant Segment in the Molecular Spectroscopy Market in 2024?

By application, the pharmaceutical applications segment held the largest share of the market in 2024, due to growth in drug development. At the same time, the growth in the R&D activities also increased their use for QC purposes, which helped in the identification, stability, and purity testing of the drug candidate. Moreover, the growing development of biologics, vaccines, and other complex drugs also contributed to their increased use.

By application, the academic research segment is expected to show lucrative growth during the predicted time. The growing research is being supported by government funding and investments, which in turn is increasing the adoption and use of molecular spectroscopy technologies. Moreover, the growing research fields and innovations are increasing their use, where they are also developing advanced technologies to enhance their applications.

Browse More Insights of Towards Healthcare:

The global point-of-care molecular diagnostics market is valued at US$ 4.05 billion in 2024, increasing to US$ 4.48 billion in 2025, and is projected to reach approximately US$ 11.03 billion by 2034, registering a CAGR of 10.45% between 2025 and 2034.

The global molecular cloning market is valued at US$ 5.25 billion in 2024, expected to grow to US$ 5.53 billion in 2025, and further expand to around US$ 8.89 billion by 2034, witnessing a CAGR of 5.4% from 2025 to 2034.

In the U.S. oncology molecular diagnostics market, the valuation stands at USD 810 million in 2024, increasing to USD 909.14 million in 2025, and projected to reach about USD 2.57 billion by 2034, advancing at a CAGR of 12.24% during the forecast period.

The global oncology molecular diagnostics market was valued at USD 3.11 billion in 2024, is estimated to reach USD 3.48 billion in 2025, and is expected to surge to nearly USD 9.76 billion by 2034, expanding at a CAGR of 12.13% from 2025 to 2034.

The global molecular cytogenetics market is calculated at USD 2.51 billion in 2024, rising to USD 2.78 billion in 2025, and anticipated to reach approximately USD 6.9 billion by 2034, growing at a CAGR of 10.64% between 2024 and 2034.

The core clinical molecular diagnostics market was valued at US$ 5.3 billion in 2023 and is expected to reach US$ 14.45 billion by 2034, reflecting a CAGR of 9.54% during the forecast period from 2024 to 2034.

The molecular interaction analyzer market stood at US$ 300 million in 2023 and is projected to rise to US$ 575.4 million by 2034, expanding at a CAGR of 6.1% between 2024 and 2034.

The global molecular diagnostics market is forecasted to grow from USD 17.1 billion in 2025 to USD 27.21 billion by 2034, recording a CAGR of 5.3% over the period.

Recent Developments in the Molecular Spectroscopy Market

In October 2025, for the enhanced characterization and measurement of a wide range of mega-mass biomolecules driving the structural biology and next-generation therapeutics, the Waters Xevo Charge Detection Mass Spectrometer was launched by Waters Corporation.
In March 2025, the BrightSpec-MRR product suite will be launched at PittCon 2025 to transform the way analytical chemists quantify and identify complex molecular structures, by BrightSpec, which is a leader in molecular rotational resonance (MRR) spectroscopy.

Molecular Spectroscopy Market Key Players List

Hitachi Ltd.
Bruker Corporation
Agilent Technologies Inc.
ABB Ltd.
Medtronic plc
JEOL Ltd.
Merck KGaA
Horiba Ltd.
Thermo Fisher Scientific Inc.
VIAVI Solutions Inc. 
Shimadzu Corporation
JASCO Inc.
PerkinElmer Inc.

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Segments Covered in The Report

By Product Type

Consumables
Instruments

By Technology

NMR Spectroscopy
Raman Spectroscopy
UV-Visible Spectroscopy
Mass Spectroscopy
Infrared Spectroscopy
Near-Infrared Spectroscopy
Others

By Application

Pharmaceutical Applications
Food and Beverage Testing
Biotechnology and Biopharmaceutical Applications
Environmental Testing
Academic Research
Others

By Region

North America

U.S.
Canada

Asia Pacific

China
Japan
India
South Korea
Thailand

Europe

Germany
UK
France
Italy
Spain
Sweden
Denmark
Norway

Latin America

Brazil Mexico
Argentina

Middle East and Africa (MEA)

South Africa
UAE
Saudi Arabia
Kuwait

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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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