Molecular spectroscopy market to be valued at $6.4b by 2034

Key sectors include pharmaceuticals and biotechnology.

The global molecular spectroscopy market is expected to reach $6.4b by 2034 at a compound annual growth rate (CAGR) of 5%, according to an Allied Market Research report.

The sector’s expansion is attributed to the increasing demand for precise analytical techniques in pharmaceuticals and biotechnology.

“Spectroscopic methods such as nuclear magnetic resonance (NMR), infrared, ultraviolet-visible, and Raman spectroscopy are increasingly used in drug discovery, quality control, and advanced materials research,” the report said.

By technology, the NMR spectroscopy segment dominated the market in terms of revenue in 2024.

Meanwhile, the Raman spectroscopy segment is anticipated to grow at the fastest CAGR during the period.