Atomic Spectroscopy Market to Record an Exponential CAGR by 2024

Atomic spectroscopy involves the interaction of gaseous atoms with light, whereby conversion of a gaseous atom takes place. The determination of elemental composition while using electromagnetic spectrum or mass is central to spectroscopy. Atomic emission, atomic absorption, and atomic florescence are the three techniques of the atomic spectroscopy determination process. Atomic spectroscopy is widely used in several industries across the globe, thereby accelerating the expansion of the global Atomic Spectroscopy Market.

The report provides an accurate analysis of the competitive landscape, the trends and opportunities, and drivers and restraints. A technological growth map, a multiple-year forecast, together with Porter’s five force analysis is included in the report. A review of macro and micro factors in the market, recommendations, and recent technological advancements are also covered. The report categorizes the major segments according to application as pharmaceutical, biotechnology, food and beverage testing, environmental testing, industrial chemistry, and others. On the basis of technology, x-ray diffraction spectroscopy, x-ray florescence spectroscopy, elemental analyzers, inductively coupled plasma mass spectroscopy (ICP-MS), atomic absorption spectroscopy, inductively coupled plasma spectroscopy, and others are the key segments.

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Rising demand for futuristic, highly advanced analytical tools, the spread of technology among numerous R&D sectors, and increased significance of the discovery of new molecules among chemical and pharmaceutical organizations have been the key factors fuelling the demand for atomic spectroscopy. Furthermore, government encouragement of research activities, constant rise in the international standards for drug safety and food, together with its growing number of applications, have been some of the prominent drivers of this market. The most important driver is believed to be the extensive R&D initiatives. On the contrary, high maintenance costs, inadequate funds for initial set-up and instrumentation, lack of awareness, and shortage of skilled personnel are the chief restraints in the global atomic spectroscopy market.

Today, atomic spectroscopy has found application in pharmaceutical industries, food industries, in research laboratories, and for diagnostic purposes. In agriculture, it can be used for analyzing minerals in soil and plants, in order to foster their health and growth. In environmental sciences, atomic spectroscopy helps determine the presence of heavy and toxic metals in air, water, and soil. Monitoring potentially harmful elements in water and waste output in nuclear energy, analyzing fine as well as raw chemicals in the chemical industry, and testing and quality assurance in food industry are some of the uses of atomic spectroscopy.

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North America stood first among regional markets for atomic spectroscopy, while Europe took charge of the second position. The ever-extending demand for atomic spectroscopy in regards to application and significant technological achievements in the region have been the major reasons for North America’s success. Although Asia Pacific ranks third among the regional segments, it will spring up to a great extent in near future, claiming a significant share in the global market for atomic spectroscopy. This is due to the tremendous opportunities held by the India and China markets. Moreover, the inclination of manufacturers towards investment in R&D activities in order to tap higher profits from these promising markets will be responsible for the advancement of the Asia Pacific atomic spectroscopy market.

Thermo Fisher Scientific, Inc., Aurora Biomed, GBC Scientific Equipment Pty Ltd., Agilent Technologies, Bruker Corporation, Hitachi High-Technologies Corporation, Rigaku Corporation, Analytik Jena Ag, Shimadzu Corporation, and PerkinElmer, Inc. are some of the major competitors mentioned in the report.

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This release was published on openPR.