Elemental Analysis Market - Overall Industry Growth
Some of the key driving factors for elemental analysis market are increasing concern for food safety, increasing usage of X-ray fluorescence in clinical research and growing R&D funding in life sciences. Moreover, this technology has a wide range of application areas in different segments of industry and thus has a major market worldwide. There are other geographical drivers which are also responsible for the growth of the market. In addition, demand from emerging markets across India and China are expected to create opportunities for elemental analysis market in the future. However, high cost of elemental analyzers and urge for efficient professionals act as major restraints to the growth of the market.
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Global elemental analysis market can be broadly classified on the basis of types, technology, applications and geography. By types, the market for elemental analysis is segmented into organic and inorganic. The market is divided by technology into destructive and non-destructive technologies. Moreover, elemental analysis has different application areas including food and beverage testing, life sciences, environment testing and geology among others.
Currently North America is dominating the market for elemental analysis in terms of revenue, followed by Europe and Asia-Pacific. The major factor responsible for immense development of elemental analysis market in North America is rapid technological advancement of this technique in various application areas, such as food and beverage, biotechnology, chemical and semiconductor industries among others. However, Asia Pacific is anticipated to grow at a significant rate in the future, primarily due to increasing awareness for elemental analysis in China and India coupled with rising demand from applied markets. Furthermore, strategic expansion by manufacturers in China and use of modern analysis technique in Chinese medicines are likely to develop the market for elemental analysis in Asia Pacific.
Some of the key players in this market are Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), AMETEK, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Shimadzu Corporation (Japan), Elementar Group (Germany) and Rigaku Corporation (Japan) among others.
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