Atomic Spectroscopy Market by Technology, End-User, and Geography - Forecast and Analysis 2023-2027

Atomic Spectroscopy Market Forecast 2023-2027

The Global Atomic Spectroscopy Market size is estimated to grow by USD 2,214.33 million at a CAGR of 7.02% between 2022 and 2027.

The major factor driving the market growth is the initiatives taken by government organizations for environmental testing and product safety. Additionally, research activities and clinical trials, the growing use of portable spectroscopy systems, rising utilization of atomic spectroscopic techniques in Alzheimer's disease diagnosis and neural health are influencing the market growth. Furthermore, in the competitive market, companies are continuously focusing on upgrading their product portfolios with innovative, advanced, and practical solutions. Vendors are constantly trying to invest in technology to develop innovative, energy-efficient, and advanced technologies.

It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Atomic Spectroscopy Market During the Forecast Period?

To learn more about this report, Market Research Report Sample PDF

Market Segmentation by Technology, End-User, and Geography Analysis

Technology Analysis

The technology segment is fragmented into atomic absorption, X-ray fluorescence, X-ray diffraction, and others.

Atomic Absorption

The atomic absorption segment showed a gradual increase in the market share of USD 1,601.54 million in 2017 and continue to grow by 2021. Atomic absorption is a type of quantitative analysis used to detect or record a specific light wavelength absorbed by atoms in a neutral state. The increasing use of atomic absorption spectrometers by a variety of industries, including biomonitoring, chemical, food, and many others, will be a major factor in the growth of the global atomic absorption segment. The market for atomic absorption spectroscopy is expected to grow due to the expansion of the pharmaceutical and environmental testing industries, which is primarily driven by the global incidence of various diseases and environmental problems such as ozone layer depletion. The atomic absorption segment is expected to grow at a rate of 5.48% between 2022 and 2027, based on the most recent Technavio analysis.

Get a glance at the market contribution of various segments   Request Market Research Report Sample PDF

X-ray fluorescence

X-ray fluorescence technology has matured as an analytical tool for routine quality controls in a variety of industries and research laboratories. The advancements in biological sciences that require constant integration in sub-components widely use X-ray fluorescent, which is propelling the market growth.

X-ray diffraction

X-ray diffraction is a popular technique for determining the crystallinity and structure of solid samples.  The technique is primarily used to identify and characterize compounds based on their diffraction pattern. Newer techniques that are variations in X-ray diffraction are being investigated. Such developments are expected to drive the growth of the X-ray diffraction segment of the market during the forecast period.

Others Segment

The others segment consists of ICP-MS, ICP-OES, microwave-included plasma optical, glow discharge optical emission, and laser. The developments in these domains are expected to drive market growth.

End-User Analysis

End User is bifurcated into pharmaceutical and biotechnology testing, food and beverage testing, environmental testing, and others.

Pharmaceutical and biotechnology testing

Atomic spectroscopy is used in the pharmaceutical industry for elemental analysis in drug development, research, and production, which includes testing of new molecular entities and ingredients, followed by production and quality control testing for determining the number of impurities. The major focus of pharmaceutical manufacturers can be observed in the innovative development of first-in-class drugs. These factors are driving the market growth.

Food and beverage testing

The technology offers an efficient solution for the detection of heavy metals, nutrient content, toxins, and pesticides in food samples, which makes it a widely adopted technique for regulatory compliance in the food and beverage industry. The demand for atomic spectroscopy systems in food and beverage testing is expected to increase during the forecast period, owing to the rising demand for processed foods and beverages and increasing food consumption. For instance, according to the Food and Agricultural Organization (FAO), food demand is expected to increase due to the rising world population.

Environmental testing

The Clean Air Act, Clean Water Act, Toxic Substances Control Act by the US-based Environment Protection Agency (EPA), environmental policies of the EU, and Environment Protection Act, 1986 formulated by the Government of India are some of the regulatory norms mandated by various governments. Industries and organizations that come under these acts need to collect emission data consistently to check and comply with permissible limits. This has burdened the laboratories with a large amount of work, creating a demand for more advanced systems that can perform multiple analyses simultaneously, thereby realizing the potential for these systems such as ICP-MS and ICP-OES in their settings. 

Others

This segment includes the application of these technologies in the petrochemical, semiconductor, mining, metal processing, and production industries. The technology is largely utilized in the petrochemical industries for quality control. ICP-MS is used to accurately measure the concentration of metal components present in petrochemicals such as diesel, crude oil, jet fuel, gasoline, natural gas, and kerosene, as the presence of analytes in petroleum products can lead to degradation and contamination, resulting in quality issues. The demand in so many domains is expected to drive market growth.

To know more about segments download the Sample Reports

Regional Analysis

North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions Request Market Research Report Sample PDF

North America's market is mainly driven by the US, which contributes significantly to the revenue. The region boasts numerous system manufacturers, such as Agilent Technologies, PerkinElmer, Bruker, Rigaku Corp., and Thermo Fisher Scientific, which fuel market growth. These companies prioritize developing atomic spectroscopy-based products that meet the specific needs of end-users and comply with the relevant standards, like USP 232 and USP 233. For example, the US market has compliant spectroscopy like 7900 ICP-MS and 5110 Synchronous Vertical Dual View (SVDV) ICP-OES from Agilent Technologies, NexION 350 ICP-MS and Optima 8x00 ICP-OES from PerkinElmer, and iCE3500 AAS from Thermo Fisher Scientific.

Market players in this region also engage in various events, including conferences, seminars, and workshops, to increase end-user awareness of their advanced instruments. Thermo Fisher Scientific, for instance, presented its ICP-MS and ICP-OES technologies and solutions at the 2018 Winter Conference on Plasma Spectrochemistry, held in the US at Amelia Island. Additionally, market players sponsor seminars and workshops related to the technology to offer training and education and to cultivate a skilled workforce in the region. For example, Agilent Technologies sponsored a free seminar in April 2019, which discussed the latest solutions and applications of ICP-MS technology and a workshop on multi-application ICP-OES.

Key Players in Atomic Spectroscopy Market

There is high competition in the atomic spectroscopy market. Among several market players, the organization A KRUSS Optronic GmbH stands out among the competitors due to technological innovation and the on-point marketing strategy. 

A KRUSS Optronic GmbH-  The company offers atomic spectroscopy solutions such as optical spectroscopy. The product segment focuses on manufacturing laboratory and analytical instruments.

The atomic spectroscopy market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• Agilent Technologies Inc.
• AMETEK Inc.
• Aurora Biomed Inc.
• Avantor Inc.
• Bruker Corp.
• Buck Scientific Instrument Manufacturing Co. AA
• Endress Hauser Group Services AG
• GBC Scientific Equipment
• Hitachi High Tech Corp.
• HORIBA Ltd.
• Perkin Elmer Inc
• Rigaku Corp.
• SAFAS SA
• Shimadzu Corp.
• Thermo Fisher Scientific Inc.
• Teledyne Technologies Inc.

Technavio’s report consists of a holistic analysis of the key development Analysis,  development stage,  pipeline analysis,  FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge. 

Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Driver

Increased funding by government organizations for environmental testing and product safety is driving the market growth. The technology is a primary analytical technique that plays a crucial role in the elemental analysis of contaminants in various sources such as food, water, soil, and air. The growth of this market is expected to receive a boost from government organizations that fund analytical testing projects focused on ensuring the safety and quality of end-user products and the environment. Industries that are primarily involved in this process include food and agriculture, healthcare, and environmental testing organizations. These funding programs are aimed at creating contaminant-free, safe, and high-quality industrial output while minimizing the impact on the environment. For example, a collaborative program between the FAO and the International Atomic Energy Agency (IAEA) focuses on achieving the shared goal of food security. One of the objectives of this program is to promote the international standard of validation and its acceptance for assisting agricultural and food safety, using techniques like isotope ratio mass spectrometry. The FAO and the IAEA provide an annual allocation of approximately USD 16.03 million, with the FAO contributing 16% and the IAEA contributing between 50% and 74% towards about 220 regional and national projects. The aforementioned factors are expected to drive market growth.

Significant Trends

Increasing R&D investments by analytical instrument manufacturers is a major trend in the market. To stay competitive in the global market, several conglomerate companies are increasing their focus on research and development (R&D) investments. Companies such as Agilent Technologies, PerkinElmer, and Bruker are seen to be allocating a significant portion of their revenue toward generating technical competencies in their various business segments, including analytical tools and instruments. These players consistently strive to create growth opportunities and gain a competitive edge in the oligopolistic market by continuously increasing their budgetary allocations for R&D on a year-over-year basis. For instance, in 2022, Agilent Technologies spent USD 467 million on R&D, which was a 5.9% increase over 2021. Similarly, Thermo Fisher Scientific Inc. allocated USD 351 million towards R&D in October 2022, which accounted for approximately 3.3% of the business's overall revenue for the year. The increased investment in R&D is expected to drive the entry of innovative products and novel applications into the market and upgrade existing products to the latest standards, thereby creating new growth prospects for the global market during the forecast period.

Major Challenge

The high cost of advanced instruments and maintenance services is hindering market growth. One of the major hindrances for end-users to adopt advanced systems is the high cost of running and maintenance. While the introduction of compact and portable systems has made onsite testing more convenient, their adoption is being hampered by the high maintenance expenses involved. For instance, repairing a detector can cost up to USD 10,000, which is a significant expense. Consequently, users are opting for low-cost systems, which is impeding the growth of sophisticated systems such as ICP-MS and ICP-OES. These factors are expected to limit the market's growth during the forecast period.

To know more about drivers, trends, and challenges, download the Sample Reports

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Market Analyst Overview

The Market is witnessing significant growth driven by increased investments in technological advancements to address food safety concerns and comply with stringent regulations. Government bodies, including the WHO, CDC, NSERC, and ASSOCHAM, are emphasizing the importance of food and drug safety, prompting pharmaceutical industries to invest in advanced analytical techniques.

With the support of grants and funds, companies like PerkinElmer, Inc., Bruker Corporation, Rigaku Corporation, and Shimadzu Corporation are launching new products equipped with techniques such as X-ray diffraction spectroscopy, X-ray fluorescence spectroscopy, and inductively coupled plasma-mass spectrometry. Trained professionals in life sciences and industrial chemistry are utilizing various spectroscopic methods, including laser spectroscopy and X-ray photoelectron spectroscopy, to ensure product quality and compliance with regulatory standards. Expert interviews and market analysis indicate a promising future for the atomic spectroscopy market.

Segmentation Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Technology Outlook (USD Million, 2017 - 2027)
  • Atomic absorption
  • X-ray fluorescence
  • X-ray diffraction
  • Others
•  End-user Outlook (USD Million, 2017 - 2027)
  • Pharmaceutical and biotechnology testing
  • Food and beverage testing
  • Environmental testing
  • Others
• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • Chile
    • Argentina
    • Brazil
  • ROW
    • Argentina
    • Australia
    • Rest of the World

Atomic Spectroscopy Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.02%
Market growth 2023-2027	USD 2,214.33 million
Market structure	Fragmented
YoY growth 2022-2023(%)	6.4
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 42%
Key countries	US, Canada, Germany, France, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	A KRUSS Optronic GmbH, Agilent Technologies Inc., AMETEK Inc., Aurora Biomed Inc., Avantor Inc., Bruker Corp., Buck Scientific Instrument Manufacturing Co. AA, Endress Hauser Group Services AG, GBC Scientific Equipment, Hitachi High Tech Corp., HORIBA Ltd., Perkin Elmer Inc, Rigaku Corp., SAFAS SA, Shimadzu Corp., Thermo Fisher Scientific Inc., and Teledyne Technologies Inc.
Market dynamics	Parent market analysis, Market forecasting, market growth and trends, 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 report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request  Market Research Report Sample 

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

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch