The circular dichroism spectrometers market studied was projected to grow with a CAGR of nearly 6.2% over the forecast period. The major factors attributing to the growth of the market are the increasing popularity of the biological drugs. Circular dichroism spectrometers are extensively used to study biomolecules like proteins, DNA, and their conjugates to comprehend their secondary structure, chiral nature, and the effect of various factors such as temperature, pH, and solvent on its chiral nature. As the pharmaceutical and biopharmaceutical firms are shifting their attention from chemical formulations to biological drugs, therefore circular dichroism spectrometers market growth also goes up. Furthermore, rising investments in the instruments by the private and government initiatives are boosting the market. However, the use of other analytical instruments in research laboratories and the requirement of skilled labor and sophisticated infrastructure are the major drawbacks of the market growth.
Key Market Trends
Government and Private Research Organizations was leading revenue generating segment and is expected to do so in the forecast period.
- The government and private research organizations have always been leading the market and developing the applications of the circular dichroism spectrometer. Researchers from both the public and private sectors are creating proposals to develop reference data for circular dichroism of various biomolecules which is expected to attract new researchers to embrace circular dichroism spectroscopy as a preferred analytical tool.
- The major factors for the growth of the segment are the increasing investment and funding in the instruments by various sources. The funding supports universities’ research ability and infrastructure, allowing them to invest tactically and gaining in order to develop and support excellent researchers, to discover novel inquisitiveness-driven research, while responding to emerging primacies and levering funding from other sources.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall circular dichroism spectrometers market, throughout the forecast period. The largest share is mainly due to the presence of key players and an increase in per capita healthcare spending and expansion in the investment made by the major market players in the region. Furthermore, growing awareness among the population to the advantages of the biological drugs on the chemical formulations. High adoption of biological drugs in the United States, an increase in the number of approvals and investments in circular dichroism spectroscopy studies, subsidize North America’s high market share in the market.
The circular dichroism spectrometers market is moderately competitive and consists of several major players. Some of the major market players are Jasco, Applied Photophysics Ltd., On-Line Instrument Systems, Inc. (Olis), Bruker, Bio-Logic Science Instrument, Inc.
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