June 2024 | Report Format: Electronic (PDF)

Nuclear Magnetic Resonance Spectroscopy Market Growth & Trends

The global nuclear magnetic resonance spectroscopy market size is expected to reach USD 1,025.3 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 5.1% from 2023 to 2030. The rising need for metabolomics-based diagnosis, coupled with increasing usage in various fields, is anticipated to surge the growth of the market. Bruker offers nuclear magnetic resonance (NMR) spectroscopy solutions for multi-omics, tissue SpatialOMx, proteomics, functional structural biology, biomolecular condensates, and biopharma and applied.

The market for NMR spectroscopy witnessed incremental growth in 2021 and is anticipated to showcase a similar trend in the forecast period. The instrument demand from academic and university research centers is a significant contributor to the revenue. For instance, in June 2021, National Science Foundation announced an investment of USD 40 million to develop the Network for Advanced NMR (NAN) between the University of Georgia, UConn School of Medicine, and UW–Madison’s National Magnetic Resonance Facility at Madison.

Other determinants such as the rapidly expanding demand for generic medicine, technical improvements in healthcare, as well as government initiatives and grants in the nuclear magnetic resonance spectroscopy industry are also contributing to the market’s growth. In the U.S., government-funded — S10 Instrumentation Programs have been formed to support the purchase of instruments, including NMR spectroscopy. There are three active funding programs with June 2023 as the deadline. These programs range from USD 25,000 to USD 2,000,000.

The COVID-19 pandemic is anticipated to positively impact the demand for the product. However, supply shortages and accelerated prices of raw materials impacted the profitability of the players. The prices of key raw materials such as copper, steel, and metallic, used for superconductors, have risen over the last decade.

The increasing demand for cancer diagnostics is expected to majorly drive market growth in the coming years. Diagnosis for Parkinson’s disease, cancer, infectious diseases, and psychiatric disorders, has been investigated with the use of NMR spectroscopy. For instance, in January 2022, a study was conducted at the University of Oxford to develop a new blood test, through NMR metabolomics, that can identify a range of cancers.

On the other hand, this is a niche market with limited players. Additionally, NMR spectroscopy is considered to be bulky and expensive, as its cost ranges from around a few hundred thousand dollars for 400 MHz, to millions for higher field magnets. Additionally, the requirement of high-field magnets, filled with cryogenic fluids regularly, and routine maintenance of electronics and probes increases the cost.

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Nuclear Magnetic Resonance Spectroscopy Market Report

Nuclear Magnetic Resonance Spectroscopy Market Report Highlights

• By product, the instruments segment held the dominant share of the NMR spectroscopy industry, owing to the increasing demand by universities and research centers for high-field NMR spectroscopy

• The steadily increasing scope of the product has a significant impact on the market. For instance, solid-state NMR spectroscopy (SSNMR) is considered an analytical tool for drug characterization, hence propelling the market growth

• By type, the high-field NMR spectroscopy segment dominated the market in 2022, since it offers better sensitivity to the researchers

• By end-use, the academic segment held a larger share in 2022; numerous universities employ NMR analysis to enhance chemical identification in pharmaceutical and chemical industries

• North America held a substantial share in the global market in 2022 due to the presence of a large number of universities and increasing funding support by the government to enhance research infrastructure

• The Asia Pacific region is projected to grow considerably in the future, owing to the rising availability of raw materials and increasing biomedical research in the pharma and biotech industry

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Nuclear Magnetic Resonance Spectroscopy Market Segmentation

Grand View Research has segmented the global nuclear magnetic resonance spectroscopy market based on product, type, end-use, and region:

NMR Spectroscopy Product Outlook (Revenue, USD Million, 2018–2030)

• Instruments

• Consumables

NMR Spectroscopy Type Outlook (Revenue, USD Million, 2018–2030)

• Low-field NMR Spectroscopy

• High-field NMR Spectroscopy

NMR Spectroscopy End-use Outlook (Revenue, USD Million, 2018–2030)

• Academic

• Pharmaceutical & Biotech Companies

• Agriculture & Food

• Chemical Industry

• Others

List of Key Players in the Nuclear Magnetic Resonance (NMR) Spectroscopy Market

• JEOL Ltd.

• Thermo Fisher Scientific Inc.

• Bruker

• Magritek

• Oxford Instruments

• Nanalysis Corp.

• Anasazi Instruments, Inc.

• QOneTec

• Advanced Magnetic Resonance Limited