(PharmaNewsWire.Com, August 19, 2021 ) The Atomic Spectroscopy 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.
Atomic absorption segment is estimated to account for the major share of the market
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.
Food & beverage testing segment is estimated to account for the major share of the market
Based on application, the atomic spectroscopy market is segmented into pharmaceuticals & biotechnology, industrial chemistry, environmental testing, food & beverage testing, petrochemical, geochemical/mining and others. In 2015, the food & beverage testing segment is estimated to account for the major share of the atomic spectroscopy market.
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 equipments and the need for highly trained professionals are likely to restrain the growth of this market.
North America is expected to account for the largest share of the atomic spectroscopy market
On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, North America is expected to account for the largest share of the atomic spectroscopy market, followed by Europe and Asia-Pacific.
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