The total market for molecular spectroscopy is forecast to grow 7.1% in 2014. Total demand for all of the technologies will approach $4 billion. These instruments generally use some form of electromagnetic radiation to probe samples in order to determine chemical composition. The largest market segment is NMR, which makes up more than a quarter of total demand. NMR is somewhat unusual in that it probes the interaction of atomic nuclei, but the information obtained from measurements can be interpreted in order to identify molecules or determine their shape and structure, which is of great importance in life science research on proteins and other molecules. The NMR market is forecast to grow 7.5% in 2014, generating revenues of nearly $1.1 billion. Bruker and Agilent Technologies dominate the NMR market, and this places both companies in the top overall molecular spectroscopy market share. Both companies are involved in several other areas of molecular spectroscopy, and Bruker is the top player with an overall vendor share of 18%.

Thermo Fisher Scientific is the second-largest vendor in molecular spectroscopy, just ahead of Agilent. As usual, Thermo competes in the majority of the individual technologies and is particularly strong in IR, Raman and UV-Vis spectroscopy.

UV-Vis spectroscopy is the second-largest market segment, accounting for 22% of the total molecular spectroscopy market. While a large market, the growth prospects for this traditional technique are more limited at 5.2% this year. Hach (Danaher) is the leader in UV-Vis, and this helps contribute to Danaher’s overall 8% share of the molecular spectroscopy market. Danaher is also the leader in colorimetry due to its acquisition of X-Rite (see IBO 4/15/12). PerkinElmer is the fifth-largest vendor, with 4% of the market, and competes in a majority of the technology markets.

Making up about 18% of the molecular spectroscopy demand, IR spectroscopy is the third-largest segment of the market and is also one of the fastest growing. Growth for 2014 is forecast at 8.8%, and total demand is expected to exceed $700 million. Driving forces in the IR market include pharmaceutical applications and the increasing use of portable IR spectrometers for new applications.

Raman spectroscopy also continues to grow faster than the overall molecular spectroscopy market. Although total demand for Raman is still less than $300 million a year, growth will be a robust 8.5% this year and is forecast to accelerate, boosted by the expanding handheld Raman market and continuing development of the Raman microscopy market.

The smallest molecular spectroscopy segment, ellipsometry, representing less than 2% of the market, is forecast to have the fastest growth in 2014 among atomic spectroscopy market segments. Ellipsometry is primarily used in measuring and characterizing flat surfaces and, in particular, thin films deposited on flat substrates. This application is in high demand by the semiconductor and electronics industries. Renewed vitality in that sector will help the market rebound from last year’s decline to near double-digit growth. Leading ellipsometry firms include Sentech, which is a specialized provider, and HORIBA, which competes in many areas of molecular spectroscopy.

Most of the other notable companies in the molecular spectroscopy market are quite specialized. Specialized companies include FOSS, the dominant leader in NIR spectroscopy, Konica Minolta in colorimetry, and Atago and Hanna Instruments, which are both involved in the refractometry business.