What Is The Current and Historic Market Size Analysis Of The Atomic Spectroscopy Market?
The atomic spectroscopy market has seen considerable growth due to a variety of factors.
•In recent times, the atomic spectroscopy market has seen significant growth. The market size is projected to rise from $7.73 billion in 2024 to $8.26 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%.
Factors contributing to this growth during the historic period include environmental regulations, the expansion of the pharmaceutical industry, exploration in metals and mining, enhanced focus on food safety and quality control, and increased automation in laboratories.
What Are The Predictions for The Atomic Spectroscopy Market Size In The Coming Years?
The atomic spectroscopy market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a notable surge is anticipated in the atomic spectroscopy market size, predicted to reach $11.65 billion by 2029, showcasing a compound annual growth rate (CAGR) of 9.0%.
Factors contributing to this growth in the projected period include the adoption of emerging markets, use in nanotechnology, progress in elemental imaging, heightened exploration within the oil and gas sector, and extensive utilisation in precision agriculture. The period is also projected to witness specific trends like heightened attention to drug safety and biotechnology, technological evolutions, incorporation of remote sensing and telemetry, platforms for multi-elemental analysis, and cooperative alliances within the industry.
Which Drivers Are Accelerating Growth In The Atomic Spectroscopy Market?
The acceleration in the creation of innovative drugs is predicted to fuel the atomic spectroscopy market's expansion in the future. These novel pharmaceutical substances have not been previously authorized or marketed for therapeutic use. Atomic spectroscopy's role is critical in this development as it determines the composition of the elements. Citing an example from the US Food and Drug Administration, this US-based health regulatory authority endorsed 37 novel drugs, accounting for 68% in the US. Consequently, the progressive advancement of new drugs spearheads the growth of the atomic spectroscopy market.
What Are The Core Segments Of The Global Atomic Spectroscopy Market?
The atomic spectroscopy market covered in this report is segmented –
1) By Type: Instruments, Inductively Coupled Plasma (ICP) Spectrometer, Other Types
2) By Technology: Atomic Absorption Spectroscopy (AAS), X-ray Fluorescence (XRF), X-ray Diffraction (XRD), Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP-OES), Inductively Coupled Plasma-Mass Spectrometry (ICP-MS), Elemental Analyzers, Other Technologies
3) By Application: Food And Beverage Testing, Pharmaceutical, Industrial, Environmental Testing, Geological Sciences, Petrochemical, Academics, Other Applications
4) By Distribution Channel: Direct Tenders, Retail
5) By End-User: Laboratories, Universities, Manufacturing Facilities, Government Agencies
Subsegments:
1) By Instruments: Atomic Absorption Spectrometers (AAS), Flame Photometers, Atomic Emission Spectrometers (AES), Inductively Coupled Plasma (ICP) Spectrometer
2) By Inductively Coupled Plasma (ICP) Spectrometer: ICP-AES (Atomic Emission Spectrometry), ICP-MS (Mass Spectrometry)
3) By Other Types: X-Ray Fluorescence (XRF) Spectrometers, Laser-Induced Breakdown Spectroscopy (LIBS)
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Which Emerging Trends Are Reshaping The Atomic Spectroscopy Market Size?
The trend of product innovation is rising within the atomic spectroscopy market. Top firms in this market are creating new, inventive products to maintain their market position. For example, in June 2022, Shimadzu Scientific Instruments Inc., a biotech firm based in the US, released the AA-7800 Series of atomic absorption spectrophotometers. These devices provide a high level of sensitivity, stability and enhanced safety features. Key features include secure and efficient flame analysis, dependable data collection, and the smallest dual atomizer system in the industry, allowing for a simple shift from a flame system. The AA-7800 is fitted with a three-dimensional optical system and a fast digital filter; ensuring superior performance, data stability, and sensitivity. These spectrophotometers also come with automatic gas flow rate optimization and easy-to-use Wizard software for effective parameter adjustment. They also come with optional connection kits for adherence to regulatory standards.
Who Are the Key Players in the Atomic Spectroscopy Market?
Major companies operating in the atomic spectroscopy market include:
• Thermo Fisher Scientific Inc.
• Merck KGaA
• GBC Scientific Equipment Pty Ltd.
• Avantor Inc.
• Lumex Instruments
• Agilent Technologies Inc.
• AMETEK Inc.
• Hitachi High-Technologies Corporation
• Buck Scientific Instruments LLC
• Shimadzu Corporation
• PerkinElmer Inc.
• Bruker Corporation
• JEOL Ltd.
• Rigaku Corporation
• Ocean Optics Inc.
• PG Instruments Limited
• Analytik Jena AG
• Teledyne Leeman Labs
• SAFAS Corporation
• A KRUSS Optronic GmbH
• Aurora Biomed Inc.
• Beijing Titan Instruments Co. Ltd.
• Beijing Beifen-Ruili Analytical Instrument (Group) Co. Ltd.
• Wuxi Jiebo Instrument Technology Co. Ltd.
What are the Regional Insights into the Atomic Spectroscopy Market?
North America was the largest region in the atomic spectroscopy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the atomic spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
