According to the new market research report "Atomic Spectroscopy Market by Technology (Atomic Absorption Spectroscopy/X-Ray Fluorescence/X-Ray Diffraction/ICP-MS/ICP-OES) & by Application (Food & Beverage Testing/Pharmaceuticals & Biotechnology / Environmental Testing) - Analysis & Global Forecast to 2020", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
This report studies the global atomic spectroscopy market for the forecast period of 2015 to 2020. This market is expected to reach USD 5.60 Billion by 2020 from USD 4.18 Billion in 2015 at a CAGR of 6.0% during the forecast period. The global atomic spectroscopy market is segmented based on technology, application, and region.
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The demand for atomic spectroscopy systems has been on the rise due to the burgeoning requirements of the life sciences and pharmaceutical industries as wells as the substantial demand from the chemical and petrochemical industries. Various regulatory authorities across industries have enforced stringent safety regulations in order to ensure that the products launched in the market adhere to quality specifications. The use of atomic spectroscopy technologies facilitates the compliance with these regulations by enabling the measurement and monitoring of the level of metals in samples.
The global market is segmented based on technology, application, and region. By technology, the market comprises X-Ray Fluorescence Spectroscopy, Atomic Absorption Spectroscopy, X-Ray Diffraction Spectroscopy, Inductively Coupled Plasma Spectroscopy, Inductively Coupled Plasma-Mass Spectroscopy, Elemental Analyzers, and others.
Other atomic spectroscopy market includes Microwave-induced plasma optical emission spectroscopy, glow discharge optical emission spectroscopy, laser spectroscopy, and X-ray photoelectron spectroscopy. In 2015, the atomic absorption spectroscopy segment is estimated to account for the largest share of the market and ICP-MS is expected to grow at the highest rate during the forecast period.
On the basis of application, the atomic spectroscopy market is divided food and beverage testing, pharmaceuticals, industrial chemistry, environmental testing, biotechnology, and others. In 2015, the food & beverage segment is expected to account for the largest share of the market and grow at the highest rate.
The key factors expected to spur the growth of the atomic spectroscopy market are increased investments, funding, and grants by government bodies worldwide; ongoing new product launches; technological advancements; increase in the number of conferences, which helps to create awareness of the techniques; and growing concerns for food and drug safety. However, the high cost of equipment’s and the need for highly trained professionals are likely to restrain the growth of this market.
Based on region, this market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The atomic spectroscopy market is expected to reach USD 5. 60 Billion in 2020 from USD 4.18 Billion in 2015 at a CAGR of 6.0%. The market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate during the forecast period
The major players in this market include Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Agilent Technologies (U.S.), Bruker Corporation (U.S.), Rigaku Corporation (Japan), and Shimadzu Corporation (Japan) among others.
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