San Francisco, 12 November
2018: According to a report by Grand View Research, Inc., global x-rayphotoelectron spectroscopy (XPS) market is anticipated to value
USD 712.4 million by 2022. Growing requirement for pure and safe drugs coupled
with minimal medication error is anticipated to propel demand for x-ray
photoelectron spectroscopy.
Growing adoption of hyphenated
technologies such as LC-MS, GC-MS,
and LC_NMR can fuel growth of market over next few years. Continual
technological advancements through R&D in medical sector coupled with high
demand for safe and pure drugs can augment market growth. Supportive government
initiatives to create awareness regarding contamination level in drugs &
formulations, R&D, chemical analysis can influence growth of market. Agencies
such as Agency for Health Care Research and Quality (AHRQ), Drug Enforcement
Agency (DEA), the Centers for Disease Control and Prevention (CDC), and food
& drug administration (FDA) are likely to emphasize on drug safety. It can
provide for limits of contaminations and other chemicals in various raw
materials and formulations, which can be identified using XPS. This, in turn,
can spur growth of market during the forecast period (2012 to 2022).
Access
Research Report of X-ray
Photoelectron Spectroscopy Market@ www.grandviewresearch.com/industry-analysis/xps-market
High initial cost required for
set up is likely to obstruct entry of new firms. This market is expected to be oligopolistic
in nature, where major companies are expected to rule the market with strong
price interdependency. This can lead to increase in overall cost of procedure
and can hamper growth of market during the forecast period. In addition,
emerging economies are likely to face setback attributed to high cost for
importing XPS devices. However, technological advancement including Hard X ray
photoelectron spectroscopy (HAXPES) and hyphenated techniques can create
lucrative opportunities for growth of market over the forecast period.
The x-ray photoelectron
spectroscopy market can be segregated on the basis of usage type, application
type, and region. Based on usage type, the market can be categorized into
contamination detection, density estimation, element detection, and empirical
formula determination. In 2014, element detection segment dominated the market
and accounted for highest market share. It can grow at similar pace during the
forecast period attributed to diverse applicability. Element detection using
XPS can detect more than 6000 binary system using magnesium and aluminum.
Similarly, contamination
detection is expected to follow element detection in terms of market share.
Contamination detection by XPS is likely to be possible for organic as well as
inorganic contaminations. Composites meals, surface analysis of glasses, gases
& strongly absorbed liquids are possible by XPS application. High demand
for systems and technologies offering accurate results can boost growth of
market.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/medical-devices
Based on application type, the
market can be classified into electronics, semiconductors, healthcare,
aerospace, automotive, and others. Healthcare segment is estimated to dominate
the market over the forecast period attributed to stringent regulations to
reduce medication errors. In addition, permissible level of contaminants in
healthcare products can fuel growth of segment. Moreover, increasing healthcare
expenditure by individuals coupled with technological advancements such as
hyphenated techniques can fuel market growth.
Regional segmentation includes
Europe, North America, Asia Pacific, Latin America, and Middle East &
Africa (MEA). In 2016, North America dominated the market and accounted for
largest market share. It is expected to grow at similar pace during the
forecast period. Increasing application of XPS for medical research and drug
safety can influence growth of market. In addition, growing popularity of
hyphenated technology can fuel growth of market over next few years. Moreover,
continual technological advancements coupled with rising demand for
spectroscopy in industrial and environmental sector are anticipated to impel
growth of market during the forecast period.
Similarly in Europe, the
market is predicted to witness significant growth over the forecast period
attributed to high demand for spectroscopy in environmental and industrial
sector. In addition, favorable reimbursement policies coupled with popularity
of hyphenated technologies can fuel growth of market.
In Asia Pacific, the market is
expected to grow at fastest CAGR during the forecast period. High prevalence of
untapped opportunities in emerging economies such as China and India can
improve healthcare infrastructure in the region.
Some of the leading companies
offering x-ray photoelectron spectroscopy technology are Evan Analytical Group
(EAG), Thermo Fisher Scientific, Kratos Analytical, V G Scienta, and Intertek.
Access
Press Release of X-ray Photoelectron Spectroscopy Market@ www.grandviewresearch.com/press-release/global-xps-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.
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