The nuclear magnetic resonance spectroscopy market size is estimated to be USD 681.8 million in 2022 and is expected to witness a CAGR of 5.89% during the forecast period 2023-2033. The increasing demands for drug delivery in developing countries, the prevalence of improved transportation infrastructure, low price of energy, and a rise in technological advancements. are factors contributing to the market growth. Furthermore, growing demand for biomedical research and development and rising activities by universities and research centres for expanding the scope of diagnostics and biomedical research by integrating technology is expected to support the market growth. However, high price of systems and equipment is expected to hinder the growth.

Rising activities by universities and research centres for expanding the scope of diagnostics and biomedical research by integrating technology is projected to fuel the market growth. For instance, the TISuMR project, which was funded by the EU and had a total budget of USD 318.48 million, was completed in December 2021. The initiative developed a technical platform that combines tissue culture with NMR spectroscopy in a lab-on-a-chip.

Growing demand for biomedical research and development is predicted to propel the market growth. This approach helps in the understanding of macromolecules’ dynamics, structure, and interactions. A WHO report from January 2022 states that about USD 35,047.58 million was made available as funding for biomedical research. Out of this, 70.28% of the funding was allocated towards non-communicable disorders, while the remaining 24.42% was allocated to communicable, maternal, perinatal, and nutritional conditions.

Segmentation

By Product

The market is categorized into consumables and instruments. In 2022, the instruments segment accounted for the highest revenue share due to the innovative development of instruments that increase their utility. For instance, Bruker announced the introduction of a novel test for extended COVID-19 study in July 2022. An Avance IVDr NMR spectroscopy machine is used for the test, which can evaluate diverse biochemical processes in under 20 minutes. The consumables segment is predicted to experience the quickest growth throughout the projection period owing to the rising frequency of usage by biotech and pharmaceutical companies for clinical research. For instance, JEOL Ltd. provides a variety of liquid and solid-state probes for a wide range of applications, each supported by the software of the company.

By Type

The market is categorized into high-field NMR spectroscopy and low-field NMR spectroscopy. In the global market, the high-field NMR spectroscopy segment accounted for the largest revenue share in 2022 owing to the benefits including improved sensitivity and resolution. Nuclear magnetic resonance spectroscopy’s enhanced power has a significant impact on a wide range of fields, including imaging, structural biology, and material research. For instance, Bruker reported in July 2021 that it had received orders for its new Ascend Evo 1.0 GHz NMR magnet, a compact instrument for structural biology applications and clinical research in one-story laboratories.

By End User

The market is segmented into pharmaceutical & biotech companies, academic, chemical industry, agriculture & food, and others. In 2022, the academic segment accounted for the largest revenue share owing to universities’ growing efforts to build their own in-house NMR spectroscopy facilities as a way to differentiate themselves from the competitors. Additionally, a number of distributors and device manufacturers collaborate with academic institutions on diagnostics-related research and development projects. For instance, to develop a clinical diagnostic test employing NMR technology, Lab Manager has numerous partnerships with academic and research institutions, such as Oxford University and Mayo Clinic labs.

Regional Markets

In 2022, Europe region accounted for the highest revenue in the nuclear magnetic resonance spectroscopy market and is expected to maintain its dominance during the forecast period. This is attributed to the rise of biomedical research funders, the popularity of universities with best research facilities, and the expanding use of technology advancements in the region as a result of strategic efforts. The Asia Pacific is predicted to have the fastest growth during the projected period due to significant advancements made by India and Japan in the technological application of the NMR spectroscopy technique.

Competitor Insights

Some of the key players operating in the nuclear magnetic resonance spectroscopy market are Bruker, JEOL Ltd., Oxford Instruments, QOneTec, Thermo Fisher Scientific Inc., Nanalysis Corp., Anasazi Instruments, Inc., Magritek, and Advanced Magnetic Resonance Limited.

To enhance their market presence, key companies in this industry are implementing a variety of techniques, such as establishing distribution networks, expanding regionally, and forming strategic partnerships.

• For instance, Oxford Instruments plc announced in March 2021 that it would be collaborating with the Department of Materials at the University of Oxford and the Henry Royce Institute (Royce). Benchtop NMR is being used in the endeavour to accelerate research into new battery technology.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, type, and end user from 2023 to 2033.

Report Scope:

Segmentation: Nuclear Magnetic Resonance Spectroscopy Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Consumables
• Instruments

Type (Revenue, USD Million), 2022 – 2033

• High-field NMR Spectroscopy
• Low-field NMR Spectroscopy

End user (Revenue, USD Million), 2022 – 2033

• Pharmaceutical & Biotech Companies
• Academic
• Chemical Industry
• Agriculture & Food
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA