The global elemental analysis market is expected to reach USD 2.02 billion
by 2025, growing at a CAGR of 6.2%, according to a new report by Grand View
Research, Inc. The market is primarily driven by amendments in the ICH
(International Council for Harmonisation of Technical Requirements for
Registration of Pharmaceuticals for Human Use) regulations that mandate use of
elemental analysis for finished medical products, including pharmaceuticals.
Many
manufacturers of elemental analyzers invest in R&D of new and
technologically advanced products. In addition to their expenses for R&D,
many key players launched new products in the market in the past 3 years. For
instance, in May 2016, Agilent Technologies launched Agilent 5110 ICP-OES,
which was designed to enable scientists perform fast and precise elemental
analysis of pharmaceuticals and food products along with mining, industrial,
and environmental analysis.
In
addition, in many countries, the limit of heavy metals/trace elements is
regulated by their respective pharmacopeias. For instance, United States,
Japanese, and European pharmacopeias limit the amount of trace elements in
finished pharmaceutical products. Furthermore, elemental analysis is a crucial
step before commercial launch of a medical product in the market.
North
America held the largest market share in 2016. Local presence of large number
of manufacturers, regulation of limits of trace elements/heavy metals by United
States Pharmacopeia (USP), and ongoing research for development of new products
are major factors responsible for the largest share held by this region. However,
Asia Pacific is likely to grow at the highest rate between 2017 and 2025. Rise
in interest of market players to expand their business in Asia Pacific, growing
awareness on safety of pharmaceuticals, and increase in expenditure by local
pharmaceutical companies on elemental analyzers are factors that can be
attributed for the highest growth rate of Asia Pacific region during the
forecast period.
Access Research Report of Elemental Analysis Market@:
Further Key Findings
From the Report Suggest:
· The
inorganic elements segment held the largest revenue share in 2016 due upcoming
mandates for elemental analysis in medical products
· Nondestructive
technologies held the largest revenue share of the market, by technology, in
2016. Retention of sample after analysis and high precision rate can be the key
factors for largest share of this segment
· North
America dominated the global market due to presence of USP regulations that
limit the amount of heavy metals/trace elements
· Some of the key
players arePerkinElmer, Inc.; Thermo Fisher Scientific, Inc.; Agilent
Technologies, Inc.; Shimadzu Corporation; and Analytik Jena AG; among others
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand
View Research, Inc. has segmented the elemental analysis market on the basis of
type of elements analyzed, technologies used, and region:
Elemental Analysis Type of Elements Outlook
(Revenue, USD Million, 2014 - 2025)
·
Organic
Elements
·
Inorganic
Elements
Elemental Analysis Technology Outlook
(Revenue, USD Million, 2014 - 2025)
·
Destructive
Technologies
o ICP-MS
o ICP-OES
o Combustion Analysis
o Other destructive
technologies
·
Nondestructive
Technologies
o XRF
o FTIR
o Other nondestructive
technologies
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North
America
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia
Pacific
o China
o Japan
·
Latin
America
o Brazil
o Mexico
·
Middle
East & Africa
o South Africa
Access Press Release of Elemental Analysis
Market @: www.grandviewresearch.com/press-release/global-elemental-analysis-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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