The new report by Expert Market Research titled, ‘Global Atomic Spectroscopy Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global atomic spectroscopy market, assessing the market based on its segments like technologies, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 5.9 Billion
- Forecast CAGR (2023-2028): 6.3%
- Forecast Market Size (2028): USD 8.5 Billion
The rising application of atomic spectroscopy in industries such as pharmaceuticals, food sector, environmental testing, geological sciences, petrochemical, and academics, among others, is driving the atomic spectroscopy industry. The growing awareness among people about inbuilt safety measures in the radiation processing facilities and the breaking of myths about human radiation exposure is leading to the steady growth of the atomic spectroscopy industry in the food and beverages sector.
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In addition, the vast exporting and importing of irradiated fruits and vegetables by countries such as the United States of America and New Zealand, among others, is also contributing to the market growth of atomic spectroscopy. The stringent regulations of drug safety and the broad utilisation of atomic spectroscopy in medical research, particularly X-ray fluorescence, are fuelling the market growth.
Industry Definition and Major Segments
Atomic spectrum is an excellent analytical tool for determining elemental compositions with precision and confidence by using electromagnetic or mass spectrums. The electromagnetic radiation is unique to the atoms, and the radiation is analysed while conducting atomic spectroscopy. There are mainly two techniques- atomic absorption spectroscopy and atomic emission spectroscopy.
The atomic spectroscopy industry, by technology, is divided into
- Atomic Absorption
- X-Ray Fluorescence
- X-Ray Diffraction
Based on application, the market is segmented into:
- Food and Beverages
- Pharmaceuticals and Biotechnology
The regional markets for atomic spectroscopy include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The stringent government regulations in the radiation processing of food to extend the shelf life and quarantine the insect pests for food safety is leading to the expansion of the atomic spectroscopy industry. In India, the Food Technology Division of Bhabha Atomic Research Centre carries out large-scale test trials on food commodities using the food package irradiator installed at the centre. It is mandatory in India to conduct radiation processing on mangoes before exporting them to the United States of America.
The efforts taken by the leading industry players in introducing atomic spectroscopy instruments to meet the needs of the emerging market are resulting in the development of the industry. Further, the advancements in atomic spectroscopy technologies and the ongoing research activities are projected to augment the industry growth in the forecast period.
Key Market Players
The major players in the market are Thermo Fisher Scientific, Inc., Agilent Technologies Inc., PerkinElmer, Inc., Bruker Corporation, and Shimadzu Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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