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The Total Organic Carbon (TOC) Analyzer Market size is projected to increase by USD 435.53 million, at a CAGR of 6.84% between 2023 and 2028. The growth rate of the market depends on several factors, including the growing focus on wastewater treatment, the favorable regulatory guidelines for water testing in the pharmaceutical industry, and the rising demand for analytical instruments in food and beverage industries.
The market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Endress Hauser Group Services AG, Fison Instruments Ltd., General Electric Co., HORIBA Ltd., Liquid Analytical Resource LLC, Metrohm AG, Mettler Toledo International Inc., Norsk Analyse AS, Shimadzu Corp., Skalar Analytical BV, SUEZ SA, TE Instruments BV., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., TOC Systems Inc., Toray Industries Inc., Verder International BV, and Xylem Inc. . Additionally, Danaher Corp. specializes in providing cutting-edge TOC analyzers like the ANATEL PAT700 TOC analyzer. These instruments are meticulously crafted to ensure adherence to pharmacopoeial standards for TOC and conductivity in purified water and water for injection, thereby facilitating seamless compliance demonstration.
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Favorable regulatory guidelines for water testing in the pharmaceutical industry is the key factor driving market growth. In the pharmaceutical industry, TOC analyzers are highly essential to ensure compliance with applicable regulations. The applications in both drug development and manufacturing procedures. In addition, pharmaceutical distribution systems may be host to several endotoxins and microbes, leading to the development of biofilms on the pipeline walls. Therefore, maintaining a low concentration is essential to control the levels of biofilm-forming microbes and endotoxins.
Furthermore, the USP, the EP, and the Japanese Pharmacopoeia (JP) recognize as a mandatory test for water for injection (WFI) and purified water. Owing to this, has become a process control requirement for monitoring the performance of unit operations. Moreover, as operations are involved in drug manufacture, the FDA has set several regulations to ensure negligible cross-contamination during the production of different drugs. These regulations for tracking the success of various cleaning validation processes. Thus, such factors will drive market growth during the forecast period.
The introduction of portable process analyzers is the primary trend shaping market growth. The market players are increasingly investing in the development and introduction of portable process monitoring instruments. By installing a portable process analyzer, the levels in liquid samples, such as water, can be measured at the line itself. Portable analyzers are offered with a probe and can be directly inserted into a production line or a bypass line with a regulator valve. Portable analyzers also help in reducing the cost of offline sample analyses. Moreover, a sample analysis performed at the production line offers far more accurate results than a sample taken to a laboratory.
Additionally, the introduction of portable process analyzers has propelled the development of innovative portable TOC analyzers by the key players. For example, Mettler-Toledo has come up with a range including the 450TOC portable TOC analyzer with multi-point sampling capabilities, for periodic sampling and water system diagnostics. Thus, the introduction of portable process analyzers is expected to positively influence the growth of the market during the forecast period.
Geopolitical uncertainties is a significant challenge that affects market growth. The geopolitical situation has a severe impact on the market due to the unconducive environment for total organic carbon analyzer market players to make investment decisions on long-term growth strategies. For instance, the US-China trade standoff has adversely impacted the operations of process analyzer manufacturers. The standoff has had an adverse impact on the import of monitoring equipment from China to the US. China has responded to the aggressive trade policies of the US by increasing the tariff on imports.
Similarly, the no-deal Brexit is challenging the operations of the British original equipment manufacturers (OEMs) supplying to the EU. The UK is yet to frame a potential trade deal with the EU after its exit, and in the case of the no-deal scenario, the trade between the EU and the UK is going to be affected. Thus, such geopolitical uncertainties may negatively impact the growth of the market during the forecast period.
The high-temperature combustion segment will be significant during the forecast period. The high-temperature combustion is one of the important parts of TOC analyzers. The process involves the oxidization of organic compounds in the sample at a high temperature to produce carbon dioxide (CO2), which is then measured to determine the total organic carbon content present in the sample. The high-temperature combustion is widely used in monitoring water quality analysis and industrial processes where the accurate measurement of organic carbon is essential.
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The high-temperature combustion segment showed a gradual increase in the market share of USD 370.38 million in 2018. The rising importance of wastewater management and the increasing regulatory standards regarding wastewater management drive the demand for high-temperature combustion as it optimizes the treatment processes and ensures the removal of organic contaminants. Therefore, the growing concerns for wastewater management will drive the growth of the high-temperature combustion segment in the market during the forecast period.
The laboratory segment is expected to grow in the market during the forecast period. This can be attributed to the increasing commercial adoption of laboratories their ease of use in a wide range of procedures, and their cost-effectiveness. One of the advantages of laboratories is that they are the least susceptible to variations in water sample conditions. Additionally, the laboratory segment is growing owing to factors such as the surging demand for early and accurate disease diagnosis, increase in public-private investments as well as research funding and grants to develop innovative laboratory testing procedures, and advancements in clinical diagnostic techniques. Therefore, the laboratory segment is expected to grow and, in turn, drive the growth of the total organic carbon analyzer market during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America accounted for a significant market share due to the presence of many key total organic carbon analyzer market players, a large number of clinical trials, and the rising demand for safe drinking water in the region. The requirement for high-quality water in the pharmaceutical and semiconductor manufacturing industries necessitates the use their water treatment facilities.
Furthermore, the high incidence of cancer in the region leads to a significant financial burden on people, which increases healthcare expenditure. The growing financial burden associated with healthcare is likely to increase the demand in water processing facilities in the coming years. Owing to these factors, North America is expected to retain its leading position in the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market trends and analysis.
Global Market Customer Landscape
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.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Market Analyst Overview
The capacity to monitor environmental factors, including carbon compounds and CO2 levels, is crucial across various industries such as pharmaceutical and biotechnology manufacturing, semiconductor production, and the oil and gas sector. Effective environmental monitoring, particularly in water and wastewater treatment, involves wastewater analysis to ensure water purity and compliance with regulatory standards set by governments and regulatory bodies. However, challenges arise due to the complexity of monitoring processes, often deemed time-consuming. Streamlining methods to enhance reliability, portability, and compatibility of monitoring equipment can optimize water quality monitoring efforts, facilitating better management of environmental resources and adherence to environmental regulations.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
Total Organic Carbon Analyzer Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.84% |
Market growth 2024-2028 |
USD 435.53 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.91 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Danaher Corp., Elementar Americas Inc., Endress Hauser Group Services AG, Fison Instruments Ltd., General Electric Co., HORIBA Ltd., Liquid Analytical Resource LLC, Metrohm AG, Mettler Toledo International Inc., Norsk Analyse AS, Shimadzu Corp., Skalar Analytical BV, SUEZ SA, TE Instruments BV., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., TOC Systems Inc., Toray Industries Inc., Verder International BV, and Xylem Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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