Nuclear Magnetic Resonance Spectroscopy Market Size, Share & Trends Analysis Report By Type (Low-field, High-field), By Products (Instruments, Consumables), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global nuclear magnetic resonance spectroscopy market size was estimated at USD 760.71 million in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. The market growth is attributed to the increasing funding & investment initiatives for nuclear magnetic resonance (NMR) spectroscopy in biomedical research, the rising need for affordable generic medicines, the growing scope of NMR spectroscopy in non-healthcare sectors, and the rising adoption of the technique in medical diagnosis.

NMR spectroscopy is considered an effective method to assess crystalline & amorphous pharmaceuticals in the drug and its product. Hence, the development of generic drugs is expected to boost the requirement for NMR spectroscopy. Moreover, the presence of universities, product developers, and pharmaceutical companies’ service providers drives the growth. The essential processes in the pharmaceutical industry are the characterization of drug substances, identifying the structure of crystalline, and observing form conversion during Active Pharmaceutical Ingredient (API) scale-up. Solid-state NMR spectroscopy is considered an analytical tool for investigating multiple crystalline forms in an API and a drug product. Hence, the demand for NMR spectroscopy is anticipated to increase significantly with growing drug development activities.

NMR spectroscopy is advancing its presence in diagnostics through biomedical research, such as studying peptides, proteins, nucleic acids, and amino acids. The technique can analyze the dynamics, structure, and interactions of macromolecules. Hence, increasing research in the biomedical field is anticipated to enhance the use of spectroscopy. According to a report published by WHO in February 2023, the number of funders and their contribution to biomedical research has been growing since 2012. In 2020, approximately 74,702 grants were allotted for biomedical research. The National Institutes of Health contributed the largest grants out of the total granted amount for biomedical research. Hence, the increasing number of grants for biomedical research is anticipated to drive the demand for NMR spectroscopy due to its wide use in biomedical research.

Moreover, several studies have demonstrated promising results for using NMR in metabolomics diagnosis. For instance, a study published by Dove Press in March 2022 reported that serum metabolites can serve as potential diagnostic biomarkers for tumor metastasis. H-NMR spectroscopy was utilized in this study to investigate serum metabolic profiles in a mouse model of colorectal cancer with lung metastasis. Moreover, according to a study published by Intech Open Ltd in February 2018, NMR-based metabolomics contributes to lung cancer diagnosis, even in the early phases of tumor development. Hence, rising metabolomics-based diagnosis for various conditions, such as lung cancer, is anticipated to drive the demand over the forecast period.

Furthermore, the diagnosis of Parkinson’s disease, cancer, & infectious and psychiatric disorders has been investigated using NMR spectroscopy. Various companies and academic participants are focusing on metabolomics-based diagnosis using NMR. For instance, in January 2022, the University of Oxford developed a new blood test using NMR metabolomics to identify various cancers. According to an article published by GenomeWeb in October 2021, Lifespin, a metabolomics testing firm, used NMR to develop metabolomics-based diagnostics. The company reported that its scientists had developed NMR-based metabolomic profiles of around 130,000 people, spanning a variety of disorder cohorts, which can help them develop a metabolomics-based diagnosis. Hence, the increasing focus of leading players and academic institutions on NMR for metabolomics diagnosis is anticipated to drive market growth over the forecast period.

However, the high cost of the equipment is anticipated to be a restraining factor for the market's growth.The superconducting nature of magnets increases the cost of this technique. According to the study published by Aston University in September 2023, the cost of large high-field NMR spectrometry instruments can range from USD 0.72 million to USD 12.1 million. Furthermore, the need to regularly supply high-field magnets with cryogenic fluids (He and N2) and the routine hardware maintenance of electronics & probes make this technique expensive. In addition, the highly specialized staff is required to operate NMR spectroscopy equipment, which may boost the cost associated with using this technique.

Industry Dynamics

The degree of innovation is high in the market, particularly in developing high and ultra-high field NMR spectrometry. For instance, Bruker’s Ascend 1.2 GHz spectrometer. This system offers unprecedented resolution and sensitivity, making it a powerful tool for studying complex biological systems and materials. Another instance is JEOL’s JNM-ECZL G series (400 MHz - 1.3 GHz) NMR spectrometer, which provides high performance for routine analysis & advanced research applications.

The market's product expansion activities are moderate. Several players adopt this strategy to increase their products' outreach and availability in diverse geographic areas. For instance, in April 2022, Bruker expanded the capabilities of its product, Fourier 80, for improved chemical structure analysis. This expansion includes the Fourier 80 HD option to improve resolution further.

Regulations play an important role in the accreditation and approval of novel solutions in the market. The FDA plays a critical role in regulating NMR devices, particularly those used in medical applications, such as Magnetic Resonance Imaging (MRI) scanners. Medical NMR devices are required to meet FDA standards for safety & effectiveness, with manufacturers required to adhere to Good Manufacturing Practices (GMP) and Quality System Regulations (QSR) to maintain device quality.

Several market players focus on partnerships and collaboration to strengthen their market position. This strategy helps enhance the company’s manufacturing and production capabilities, further improving product availability. For instance, in April 2022, JEOL Ltd. announced a partnership with NJ Biopharmaceuticals LLC. Under this collaboration, NJ Bio procured an 800 MHz spectrometer with a cryogenic probe from the company to develop platform solutions for drug discovery. JEOL Ltd. offered technical expertise to maximize the spectrometer’s performance in these drug discovery applications.

The market shows a high end-user concentration, with a significant portion of revenue generated from a limited number of key customers, primarily in academic institutions. This concentration is driven by the dominance of a few major players.

Product Insights

Instruments dominated the market with a share of 80.26% in 2023,driven by an increasing adoption of instruments for research purposes. For instance, in July 2023, Numares received FDA approval for its NMR test called AXINON System. The system is developed to measure lipoproteins in patients suffering from cardiovascular conditions. This is the only FDA-approved NMR system in the U.S. intended for the analysis of lipoproteins in cardiovascular conditions. Furthermore, the advancements in spectrometers, such as the integration of detector technology, improved optical designs, and the integration of advanced software packages, are likely to accelerate the adoption of instruments by 2030. In addition, an increasing number of product launches with advanced technologies are expected to impact the segment growth positively.

Consumables is expected to register the fastest CAGR during the forecast period. The growth of the consumables segment can be attributed to the growing demand for advanced analytical techniques in fields like pharmaceuticals, materials science, and biotechnology. Moreover, researchers rely on NMR consumables, such as specialized sample tubes, solvents, & tubes, to ensure accurate and reproducible results in their experiments. The growing introduction of such products is likely to have a positive impact on the growth of the consumables segment. For instance, in April 2023, JEOL Ltd. introduced its new Cryogen Reclamation System for NMR instruments. This newly launched product reduces the evaporation of liquid helium and liquid nitrogen, which are cryogenic materials used in NMR instruments.

End Use Insights

Academic dominated the nuclear magnetic resonance spectroscopy market with a share of 46.81% in 2023. Increasing demand for advanced analytical instrumentation is boosting investments in academic institutes. These investments are expected to accelerate segment growth during the forecast period. For instance, in December 2022, the University of Warwick received funding of USD 20.7 million to procure an NMR instrument with a capacity of 1.2 GHz. The new instrument is intended to be used for research along with other application areas in the university. Furthermore, the academic universities are also engaged in conducting seminars & meetings with an aim to showcase new NMR technologies and knowledge transfers. Such activities are also projected to have a positive impact on the segment growth.

The agriculture and food segment is anticipated to grow at the fastest growth over the forecast period. In the food industry, NMR enables assessment of the quality and authenticity of food products. For instance, it helps in detecting and quantifying adulterants or contaminants in products like olive oil or fruit juices. By analyzing the NMR spectra of these samples, producers can ensure their products meet regulatory standards and are authentic. Moreover, in agriculture, NMR plays a role in soil analysis. It helps determine soil composition and nutrient levels, aiding in the development of optimal fertilization strategies. By understanding the chemical properties of soil through NMR analysis, farmers can enhance crop productivity while minimizing environmental impact.

Type Insights

High-field NMR spectroscopy segment dominated the market with a share of 88.69% in 2023 owing to the growing technological advancements and a surge in demand across various sectors. Technological advancements, such as the development of cryogen-free NMR spectrometers and improved software for data analysis, are making NMR more accessible & efficient, reducing operational costs and enhancing user experience. Moreover, this range of NMR spectroscopy is extensively utilized in organic chemistry, biochemistry, and pharmaceuticals because it provides detailed molecular structure information.The market is projected to grow steadily, primarily driven by the expanding pharmaceutical and biotechnology industries.

Low-field NMR spectroscopy segment is expected to register the fastest CAGR during the forecast period. Low-field NMR spectroscopy, typically operating at fields below 100 MHz, is expected to witness considerable adoption in various industries owing to its extensive advantages and versatile applications. Cost-effectiveness is one of the primary factors driving the growth of the low-field NMR spectroscopy market during the forecast period.Compared to high-field NMR systems, low-field NMR instruments are more affordable, making them accessible to a broader range of research, industrial, and educational settings. This affordability led to a surge in their adoption, especially in academic institutions and small- to medium-sized companies. In September 2023, a group of researchers at Aston University demonstrated the efficiency of cost-effective benchtop spectrometers, which can be substantially utilized for the analysis of pyrolysis bio-oils.

Regional Insights

The nuclear magnetic resonance spectroscopy market in North America accounted for a significant share of the global market. This can be attributed to the presence of a well-established pharmaceutical industry and healthcare system in the U.S., which has created a significant demand for NMR spectroscopy for clinical and research purposes.

U.S. Nuclear Magnetic Resonance Spectroscopy Market Trends

The U.S. nuclear magnetic resonance spectroscopy market is expected to grow over the forecast period. Government support and funding to facilitate the development of novel NMR spectroscopy tools in the country are anticipated to create lucrative growth opportunities.

Europe Nuclear Magnetic Resonance Spectroscopy Market Trends

Europe nuclear magnetic resonance spectroscopy reported the largest revenue share of 38.95% in 2023. The dominance of the region is attributed to the increasing demand for NMR spectroscopy and well-established pharmaceutical & biotechnology industries across Germany, the UK, and Italy. Moreover, expanding the biotechnology & pharmaceutical sector in countries such as Spain and Russia is expected to create a conducive environment for the growth of the market in Europe.In addition, continuous research initiatives being undertaken by European manufacturers for the development of new and innovative NMR solutions are anticipated to create lucrative opportunities for market growth.

The nuclear magnetic resonance spectroscopy market in the UK is growing primarily due to the presence of established R&D infrastructure and government investments.Companies from the UK are continuously innovating in spectrometry.

France nuclear magnetic resonance spectroscopy market is expected to grow over the forecast period as the country has emerged as a hub for innovative and cutting-edge research and development in biological sciences.An increase in R&D activities is anticipated to boost demand for high and ultra-high-field NMR spectroscopy in the country and drive market growth.

The nuclear magnetic resonance spectroscopy market in Germany is expected to witness substantial growth owing to favorable government regulations, advanced healthcare infrastructure, a rising number of drug and device approvals, and growing concerns regarding food safety.

Asia Pacific Nuclear Magnetic Resonance Spectroscopy Market Trends

The nuclear magnetic resonance spectroscopy market in the Asia Pacific is expected to witness the fastest CAGR over the projected period. Growth in the region can be attributed to the expansion of the pharmaceutical & biotechnology industries in emerging economies, such as China and India. The robust growth is further propelled by consistent government support for the advancement of the pharmaceutical sector in developing nations. Furthermore, the continuous innovations in cancer and infectious diseases are expected to drive growth in this region.Furthermore, the increased cost of equipment and limitations of NMR spectroscopy might impede market expansion.

China nuclear magnetic resonance spectroscopy market is expected to grow over the forecast period, owing to the robust growth of pharmaceutical, biotechnology, and biopharmaceutical sectors in China.

The nuclear magnetic resonance spectroscopy market in Japan is expected to grow over the forecast period owing to the rising demand for NMR spectroscopy solutions aided by the high prevalence of chronic diseases and the unprecedented outbreak of the COVID-19 pandemic, which have led to an increase in R&D activities for developing novel therapies and vaccines.

Latin America Nuclear Magnetic Resonance Spectroscopy Market Trends

The nuclear magnetic resonance spectroscopy market in Latin America was identified as a lucrative region in this industry. Technological advancements, increasing government expenditure on R&D, the presence of skilled healthcare professionals, and the rising focus of multinational pharmaceutical companies on analytical instruments are some of the major factors expected to drive market growth in the region.

Brazil nuclear magnetic resonance spectroscopy market is expected to grow over the forecast period owing to the presence of an established pharmaceutical industry compared to other countries in Latin America.

MEA Nuclear Magnetic Resonance Spectroscopy Market Trends

The nuclear magnetic resonance spectroscopy market in MEA was identified as a lucrative region in this industry. Moderate growth is due to low awareness, high cost, and high operational costs to maintain these instruments.

The Saudi Arabia nuclear magnetic resonance spectroscopy market is expected to grow over the forecast period, attributed to the increasing initiatives being undertaken by the government to expand the country's biotechnology sector. Organizations such as the King Abdullah University of Science and Technology (KAUST) facilitate biotechnology R&D activities in Saudi Arabia.

Key Nuclear Magnetic Resonance Spectroscopy Company Insights

Some of the leading players operating in the market include Bruker, JEOL Ltd., Thermo Fisher Scientific, Inc., and Oxford Instruments. Key players adopt various operating strategies to maintain their market positions. One key strategy is product innovation and differentiation. Moreover, these players emphasize innovation to derive innovation and bring new solutions to the market. The rising demand for technologically advanced products is driving the competition among key players.

QOneTec and ADVANCED MAGNETIC RESONANCE LIMITED are some of the emerging market participants in the market. Emerging players often focus on developing novel products with unique features to differentiate themselves in the market. The companies are focusing on introducing tools that can help in NMR spectroscopy to meet consumer demand, which is expected to drive competition among emerging players. 

Recent Developments

• In April 2024, Bruker Corporation unveiled new magnet technology and analytical solutions to enhance the adoption in academic research, clinical studies, and biopharma drug discovery, development, and Process Analytical Technologies (PAT).

• In December 2023, Bruker Corporation successfully installed a 1.2 GHz NMR system at Ohio State University’s National Gateway Ultrahigh Field NMR Center. This advanced system would significantly enhance the center’s research capabilities, enabling groundbreaking studies in structural biology, materials science, and related fields by providing unprecedented resolution and sensitivity.

• In May 2023, JEOL Ltd. published a paper focusing on an innovative method to determine the mutual orientation of two hydrogens in solid-state NMR. This paper was developed in collaboration with IIT Ropar and Lowa State University. Such publications help researchers and increase awareness about the company’s products during their studies. 

Nuclear Magnetic Resonance Spectroscopy Market Report Scope 

Global Nuclear Magnetic Resonance Spectroscopy Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 - 2030. For this study, Grand View Research has segmented the global nuclear magnetic resonance spectroscopy market report based on product, type, end use and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030­)

  • Instruments

  • Consumables

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Low-field NMR Spectroscopy

  • High-field NMR Spectroscopy

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic

  • Pharmaceutical and Biotech Companies

  • Agriculture and Food

  • Chemical Industry

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Singapore

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait