US - Analytical Instrument Market by Product and End-user - Forecast and Analysis 2023-2027

Published: Oct 2023 Pages: 153 SKU: IRTNTR43935

US Analytical Instrument Market 2023-2027

The US analytical Instrument Market size is forecast to increase by USD 5.92 million at a CAGR of 2.64% between 2022 and 2027. The growth of the market depends on several factors, such as the rise in demand for generic drugs, the stringent government regulations related to the manufacturing of analytical instruments, and the decline in the price of PV systems.

What will be the size of the US Analytical Instrument Market During the Forecast Period?

t Market Forecast 2023-2027

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Market Segmentation 

This report extensively covers market segmentation by product (process control instruments, laboratory, electrical measurement equipment, and others) and end-user (pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others). It also includes an in-depth analysis of drivers, trends, and challenges. 

Product Segment Analysis:

The process control instruments segment is estimated to witness significant growth during the forecast period. One of the main factors that is significantly contributing to the growth of this segment is the increasing adoption of industrial automation in process manufacturing industries. Furthermore, there is an increasing across process manufacturing industries, such as chemical and petrochemical, water and wastewater treatment, and oil and gas in order to measure various parameters of any sample on a real-time basis.

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The process control instruments segment was the largest segment and was valued at USD 12.79 million in 2017. The main advantage of the use is to enhance the quality of end products but also improve the productivity of manufacturing processes. Some of the main process control instruments include electromagnetic flow meters, boiler controls, combustion controls, and hydrometers. Furthermore, the US is estimated for more than 80% of the chemical market in North America. The growth in domestic demand is fuelled by the increased demand from major end-user industries, including packaging, food, water, and wastewater, and the growth in exports from the US chemical industry which is significantly contributing to the growth of the segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

End-user Segment Analysis:

Based on end-user, the segment is classified into pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others. Quality control is one of the crucial aspects of pharmaceutical and biotechnology companies to function well such that they can produce high-quality end products and adhere to the guidelines of regulatory authorities. Identification and quantification of raw materials are two main factors that ensure that these companies comply with current GMP.  Some  offer cost-effective solutions to manufacturers in the pharmaceutical and biotechnology sectors for material identification, along with the generation of accurate results include portable XRF, Raman, and NIR spectrometers. The main advantage of these analyzers in the warehouse is that it ensures better inventory management and reduces global supply chain risk. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.

Market Dynamics

Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

 Driver - Rise in demand for generic drugs

Pharmaceutical drugs can be referred to as chemical or biochemical substances which are mainly used to prevent and treat diseases. Factors such as the patent expiries of branded drugs and the increasing prevalence of diseases fuelling the demand for generic drugs are positively impacting the market.

Moreover, there is an increase in developments and innovations in the generic drugs market. In addition, there is a significant R&D and heavy expenditure on these generic drugs which is significantly contributing to the market. hence, such factors are positively impacting the market. Therefore, it is expected to drive t market growth during the forecast period.

Trends - Rising number of applications

There is an increasing number of applications and consumables due to the advent of several new technologies, products, and markets.  Some of the key application areas include analytical chemistry, clinical analysis, environmental testing, F&B analysis, and forensic analysis.

Moreover, there is an increasing adoption in life science research (including genomics, metabolomics, and proteomics), materials characterization and research, petrochemical testing, and pharmaceutical analysis. In addition, there is a significant application of laboratory analytical instruments in nanoparticle tracking analyzers (NTAs) which enables users to number frequency distributions of particle sizes through their NTA instruments required by every application. Hence, such factors are driving the t market growth during the forecast period.

Challenge - Fluctuations in oil and gas prices

The decline in crude oil prices is significantly impacting the analytical instrument market in the U.S. as the leading end-users of the analytical instruments are the oil and gas industry. For instance, in 2019, shale gas production in the US and reached record levels. In addition, the Middle East countries are not reducing their output as they are afraid of losing their market dominance.

As a result, the oil and gas industry has faced heavy losses in revenue and profit margins. Therefore, factors such as the decline in crude oil prices coupled with the amplified supply of crude oil are leading to fluctuations in the market. Hence, such factors are negatively impacting the US analytical instrument market. Therefore, it is expected to hinder the t market growth during the forecast period.

Who are the Major US Analytical Instrument Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd: The company offers analytical instrument for the laboratory, process, environmental, steam and power industries. 

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., PerkinElmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp. 

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Market Analyst Overview

Analytical instrumentation plays a crucial role in laboratory settings, facilitating the analysis of natural and artificial materials to provide both quantitative and qualitative information. In clinical diagnostics, these instruments are essential for detecting and monitoring chronic and infectious diseases.

The Germany analytical instrumentation market is a hub for innovative technologies, including polymerase chain reaction (PCR), microarray, sequencing technologies, molecular imaging, and molecular diagnostics. Next-generation sequencing has revolutionized genomic analysis, enabling the identification of biomarkers and facilitating research and development activities in areas such as biologics, monoclonal antibodies, vaccines, and therapeutic proteins. Microscopy instruments, including cryogenic electron microscopy, contribute to advancements in various fields by offering high-resolution imaging capabilities. Liquid chromatography, mass spectroscopy, and UV-Vis spectroscopy are indispensable tools for chemical analysis and characterization.

Segment Overview

The  market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Product Outlook (USD Million, 2017 2027)
    • Process control instruments
    • Laboratory analytical instruments
    • Electrical measurement equipment
    • Others
  • End-user Outlook (USD Million, 2017 2027)
    • Pharmaceutical and biotechnology companies
    • Food and beverage companies
    • Environmental testing organizations
    • Others

US Analytical Instrument Market Scope

Report Coverage

Details

Page number

153

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 2.64%

Market growth 2023-2027

USD 5.92 million

Market structure

Fragmented

YoY growth 2022-2023(%)

2.28

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., PerkinElmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp.

Market dynamics

Parent market analysis, market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our market trends and analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research and Growth Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
  • Precise estimation of the analytical instrument market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming market growth and trends and changes in consumer behavior
  • Growth of the market across the US
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of analytical instrument market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 07: Parent market
    • Exhibit 08: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 09: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 10: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
      • Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Analytical instrument market in US 2017 - 2021
      • Exhibit 15: Historic Market Size – Data Table on analytical instrument market in US 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 16: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 End-User Segment Analysis 2017 - 2021
      • Exhibit 17: Historic Market Size – End-User Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 25: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 26: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 27: Chart on Comparison by Product
      • Exhibit 28: Data Table on Comparison by Product
    • 6.3 Process control instruments - Market size and forecast 2022-2027
      • Exhibit 29: Chart on Process control instruments - Market size and forecast 2022-2027 ($ million)
      • Exhibit 30: Data Table on Process control instruments - Market size and forecast 2022-2027 ($ million)
      • Exhibit 31: Chart on Process control instruments - Year-over-year growth 2022-2027 (%)
      • Exhibit 32: Data Table on Process control instruments - Year-over-year growth 2022-2027 (%)
    • 6.4 Laboratory analytical instruments - Market size and forecast 2022-2027
      • Exhibit 33: Chart on Laboratory analytical instruments - Market size and forecast 2022-2027 ($ million)
      • Exhibit 34: Data Table on Laboratory analytical instruments - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Chart on Laboratory analytical instruments - Year-over-year growth 2022-2027 (%)
      • Exhibit 36: Data Table on Laboratory analytical instruments - Year-over-year growth 2022-2027 (%)
    • 6.5 Electrical measurement equipment - Market size and forecast 2022-2027
      • Exhibit 37: Chart on Electrical measurement equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 38: Data Table on Electrical measurement equipment - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Chart on Electrical measurement equipment - Year-over-year growth 2022-2027 (%)
      • Exhibit 40: Data Table on Electrical measurement equipment - Year-over-year growth 2022-2027 (%)
    • 6.6 Others - Market size and forecast 2022-2027
      • Exhibit 41: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 42: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 44: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Product
      • Exhibit 45: Market opportunity by Product ($ million)
      • Exhibit 46: Data Table on Market opportunity by Product ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 47: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 49: Chart on Comparison by End-user
      • Exhibit 50: Data Table on Comparison by End-user
    • 7.3 Pharmaceutical and biotechnology companies - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Pharmaceutical and biotechnology companies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Pharmaceutical and biotechnology companies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Pharmaceutical and biotechnology companies - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Pharmaceutical and biotechnology companies - Year-over-year growth 2022-2027 (%)
    • 7.4 Food and beverage companies - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Food and beverage companies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Food and beverage companies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Food and beverage companies - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Food and beverage companies - Year-over-year growth 2022-2027 (%)
    • 7.5 Environmental testing organizations - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Environmental testing organizations - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Environmental testing organizations - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Environmental testing organizations - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Environmental testing organizations - Year-over-year growth 2022-2027 (%)
    • 7.6 Others - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by End-user
      • Exhibit 67: Market opportunity by End-user ($ million)
      • Exhibit 68: Data Table on Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 70: Impact of drivers and challenges in 2022 and 2027
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 71: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 72: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 73: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 74: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 75: Matrix on vendor position and classification
            • 11.3 ABB Ltd.
              • Exhibit 76: ABB Ltd. - Overview
              • Exhibit 77: ABB Ltd. - Business segments
              • Exhibit 78: ABB Ltd. - Key offerings
              • Exhibit 79: ABB Ltd. - Segment focus
            • 11.4 Agilent Technologies Inc.
              • Exhibit 80: Agilent Technologies Inc. - Overview
              • Exhibit 81: Agilent Technologies Inc. - Business segments
              • Exhibit 82: Agilent Technologies Inc. - Key offerings
              • Exhibit 83: Agilent Technologies Inc. - Segment focus
            • 11.5 AMETEK Inc.
              • Exhibit 84: AMETEK Inc. - Overview
              • Exhibit 85: AMETEK Inc. - Business segments
              • Exhibit 86: AMETEK Inc. - Key offerings
              • Exhibit 87: AMETEK Inc. - Segment focus
            • 11.6 Bio Rad Laboratories Inc.
              • Exhibit 88: Bio Rad Laboratories Inc. - Overview
              • Exhibit 89: Bio Rad Laboratories Inc. - Business segments
              • Exhibit 90: Bio Rad Laboratories Inc. - Key news
              • Exhibit 91: Bio Rad Laboratories Inc. - Key offerings
              • Exhibit 92: Bio Rad Laboratories Inc. - Segment focus
            • 11.7 Bruker Corp.
              • Exhibit 93: Bruker Corp. - Overview
              • Exhibit 94: Bruker Corp. - Business segments
              • Exhibit 95: Bruker Corp. - Key news
              • Exhibit 96: Bruker Corp. - Key offerings
              • Exhibit 97: Bruker Corp. - Segment focus
            • 11.8 Danaher Corp.
              • Exhibit 98: Danaher Corp. - Overview
              • Exhibit 99: Danaher Corp. - Business segments
              • Exhibit 100: Danaher Corp. - Key news
              • Exhibit 101: Danaher Corp. - Key offerings
              • Exhibit 102: Danaher Corp. - Segment focus
            • 11.9 Emerson Electric Co.
              • Exhibit 103: Emerson Electric Co. - Overview
              • Exhibit 104: Emerson Electric Co. - Business segments
              • Exhibit 105: Emerson Electric Co. - Key news
              • Exhibit 106: Emerson Electric Co. - Key offerings
              • Exhibit 107: Emerson Electric Co. - Segment focus
            • 11.10 Eppendorf SE
              • Exhibit 108: Eppendorf SE - Overview
              • Exhibit 109: Eppendorf SE - Product / Service
              • Exhibit 110: Eppendorf SE - Key news
              • Exhibit 111: Eppendorf SE - Key offerings
            • 11.11 F. Hoffmann La Roche Ltd.
              • Exhibit 112: F. Hoffmann La Roche Ltd. - Overview
              • Exhibit 113: F. Hoffmann La Roche Ltd. - Business segments
              • Exhibit 114: F. Hoffmann La Roche Ltd. - Key news
              • Exhibit 115: F. Hoffmann La Roche Ltd. - Key offerings
              • Exhibit 116: F. Hoffmann La Roche Ltd. - Segment focus
            • 11.12 General Electric Co.
              • Exhibit 117: General Electric Co. - Overview
              • Exhibit 118: General Electric Co. - Business segments
              • Exhibit 119: General Electric Co. - Key news
              • Exhibit 120: General Electric Co. - Key offerings
              • Exhibit 121: General Electric Co. - Segment focus
            • 11.13 Honeywell International Inc.
              • Exhibit 122: Honeywell International Inc. - Overview
              • Exhibit 123: Honeywell International Inc. - Business segments
              • Exhibit 124: Honeywell International Inc. - Key news
              • Exhibit 125: Honeywell International Inc. - Key offerings
              • Exhibit 126: Honeywell International Inc. - Segment focus
            • 11.14 Mettler Toledo International Inc.
              • Exhibit 127: Mettler Toledo International Inc. - Overview
              • Exhibit 128: Mettler Toledo International Inc. - Business segments
              • Exhibit 129: Mettler Toledo International Inc. - Key offerings
              • Exhibit 130: Mettler Toledo International Inc. - Segment focus
            • 11.15 Mitsubishi Electric Corp.
              • Exhibit 131: Mitsubishi Electric Corp. - Overview
              • Exhibit 132: Mitsubishi Electric Corp. - Business segments
              • Exhibit 133: Mitsubishi Electric Corp. - Key news
              • Exhibit 134: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 135: Mitsubishi Electric Corp. - Segment focus
            • 11.16 Siemens AG
              • Exhibit 136: Siemens AG - Overview
              • Exhibit 137: Siemens AG - Business segments
              • Exhibit 138: Siemens AG - Key news
              • Exhibit 139: Siemens AG - Key offerings
              • Exhibit 140: Siemens AG - Segment focus
            • 11.17 Thermo Fisher Scientific Inc.
              • Exhibit 141: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 142: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 143: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 144: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 145: Thermo Fisher Scientific Inc. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 146: Inclusions checklist
                • Exhibit 147: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 148: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 149: Research methodology
                • Exhibit 150: Validation techniques employed for market sizing
                • Exhibit 151: Information sources
              • 12.5 List of abbreviations
                • Exhibit 152: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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