Elemental Analysis Market Is Projected To Grow Quickly Due To Growing Awareness Due To Conferences, Meetings, And Congresses Till 2025: Grand View Research, Inc.
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.
U.S.
elemental analysis market, by type of elements, 2014 - 2025 (USD Million)
Browse full research report on Elemental
Analysis Market: http://www.grandviewresearch.com/industry-analysis/elemental-analysis-market
Further
Key Findings From the Study 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
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-elemental-analysis-market
About
Grand View Research, Inc:
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, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
Comments
Post a Comment