ICP-OES Spectrometer Market Top Players Analysis, Segments Overview, Size, Share, Regions, Demands, Technology, Trends and Global Outlook 2030
Research Reports
Dec 19, 2022
ICP-OES Spectrometer Market Research Report and Growth Analysis 2023 by Spectrometer Type (Sequential, Simultaneous), Application (Nanotechnology, Drug Discovery, Environmental Testing, Food & Agriculture, Others), End-User (Pharmaceutical and Biotechnology Companies, Research and Academic Institutes, Others), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa) – Forecast till 2030
ICP-OES Spectrometer Market Research Future Insights
According to market research future insights analysis, the global ICP-OES Spectrometer Market is expected to register a CAGR of ~ 6.30% from 2022 to 2030 and hold a value of over ~ USD 21.19 Million by 2030.
The industries that employ optical emission spectroscopy the most frequently are metallurgy, food, aeronautics & aerospace, and pharmaceuticals. Optical emission spectroscopy facilitates the determination of the elemental compositions of various materials. Optical emission spectroscopy is used to process metals to investigate a range of metallic materials, including wires, plates, tubes, bolts, and rods, for a variety of applications, including, among others, medical and automotive applications, the majority of equipment and service providers in the optical emission spectroscopy market offer specially designed optical emission spectroscopy products integrated with different specifications and features.
Key Players
Some key market players are,
- PerkinElmer Inc.
- GBC Scientific Equipment
- Shimadzu Corporation
- SPECTRO Analytical Instruments GmbH
- Thermo Fisher Scientific
- Analytik Jena AG
- Horiba
- Teledyne Leeman Labs
- Skyray Instrument Inc. and others.
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The increased investment in technological advancements, such as optical technology, etc., is blamed for the development of these spectrometers. This ultimately broadens the product’s market reach on a global scale. ICP-OES spectrometers are frequently used in various industries, such as analytical services, quality control and assurance. Compared to sequential spectrometers, simultaneous spectrometers are more swiftly embraced by the market. It does so because it offers the superior accuracy required to analyze multiple elements quickly, regardless of concentration levels.
ICP-OES Spectrometer Market Regional Analysis
North America dominated the market for ICP-OES spectrometers in 2021. Due to the use of cutting-edge technologies like ICP Expert Software and others and higher initial expenditures on research and development, well-known players like PerkinElmer Inc., Thermo Fisher Scientific Inc., and others are fostering market expansion in the area. For instance, PerkinElmer Inc. unveiled the “Avio 500 ICP-OES Spectrometer” in July 2017 to evaluate complicated environmental, industrial, and chemical samples for high-volume facilities. This instrument offers multi-elemental inorganic analysis. Another factor driving the market is the high adoption of new technology in the area and the rising R&D spending to develop new technologies. Additionally, the presence of significant businesses in the region, including PerkinElmer Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, etc., is anticipated to drive market expansion in the region.
Europe is expected to register lucrative growth in the market for ICP-OES spectrometers. The growing use of ICP-OES Spectrometers in the research sector to speed up the measurement of samples. The developed healthcare system further aids the development of ICP-OES Spectrometers in the region in Europe.
ICP-OES Spectrometer Market Segmentation
The global ICP-OES spectrometer market has been segmented into spectrometer type, application, and end user.
Based on spectrometer type, the market has been segmented sequentially and simultaneously. The sequential segment accounted for the largest market share in 2021 due to greater market accessibility. On the other hand, the simultaneous segment was the fastest-growing segment during the forecast period due to its rising adoption rate.
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Based on application, the market has been segmented into nanotechnology, drug discovery, environmental testing, food & agriculture, and others. Drug discovery applications accounted for the largest revenue share in 2021 in the ICP-OES spectrometer market. Due to the ICP-OES spectrometer’s wide range of applications in this area. Environmental testing was the fastest-growing segment. As a result of an increase in research projects utilizing ICP-OES spectrometers for environmental testing.
Based on end-user, the market has been segmented into pharmaceutical and biotechnology companies, research and academic institutes, and others. The pharmaceutical and biotechnology companies segment accounted for the largest revenue share in 2021 in the market for ICP-OES spectrometers. This is brought on by the ICP-OES spectrometer’s expanding use in the pharmaceutical sector. Research and academic institutes were the fastest-growing segments due to the rise in research activities.
Table Of Contents
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
Chapter 6. Global ICP-OES Spectrometer Market, By Spectrometer Type
6.1 Overview
6.2 Sequential
Market Estimates & Forecast, By Region, 2020-2027
Market Estimates & Forecast, By Country, 2020-2027
6.3 Simultaneous
Market Estimates & Forecast, By Region, 2020-2027
Continue…
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