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.
Browse full research report on Elemental Analysis Market: www.grandviewresearch.com/industry-analysis/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: 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
- ICP-MS
- ICP-OES
- Combustion
Analysis
- Other
destructive technologies
- Nondestructive
Technologies
- XRF
- FTIR
- Other
nondestructive technologies
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
- South Africa
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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