(EMAILWIRE.COM, December 13, 2018 ) The growth of the overall molecular spectroscopy market can be attributed to the growing food safety concerns, the growth of the pharmaceutical and biotechnology industry, application of molecular spectroscopy in environmental screening and technological advancements in molecular spectroscopy. In the coming years, North America is expected to account for the largest share of the global molecular spectroscopy market.

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By application, the pharmaceutical application industry held the largest market share in 2017

Based on application, the molecular spectroscopy market is further segmented into pharmaceutical application, biotechnology and biopharmaceutical applications, environmental testing, food and beverage testing, academic research, and other applications. In 2017, the pharmaceutical applications segment is expected to account for the largest share. Extensive use of molecular spectroscopy technologies at various stages of drug development processes and increase in R&D investments by pharmaceutical industries is driving the growth of the market.

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North America dominated the market in 2017

North America accounted for the largest share of the molecular spectroscopy market in 2016, followed by Europe. High usage of molecular spectroscopy in the pharmaceutical sector, growing funding for environmental testing in the US, growing food safety concerns in the US, and government initiatives to improve lab infrastructure and propel fundamental scientific research in Canada will drive market growth during the forecast period.

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