LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global elemental analysis market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
The increased adoption among academic institutions is one of the major trends being witnessed in the global elemental analysis market 2018-2022. Institutes worldwide are adopting elemental analysis products for ascertaining elemental concentrations in a variety of matters. These institutes are collaborating with research labs, leading to improvements in research activities in the fields such as proteomics, medicine, and metabolomics.
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According to Technavio analysts, one of the key factors contributing to the growth of the global elemental analysis market is the rising scope for real-time results:
Global elemental analysis market: Rising scope for real-time results
With the rising demand for accurate and quick results, vendors in the market have introduced elemental analysis products delivering real-time results for end-users.
According to a senior analyst at Technavio for research on life science research tools, “For instance, in 2016, Thermo Fisher Scientific introduced the CB Omni Fusion analyzer, an online elemental analyzer designed to provide real-time, accurate results by the rapid analysis of a wide range of materials. It is the only analyzer in the market allowing the use of either an isotope, Cf-252, or a neutron generator as an excitation source.”
Global elemental analysis market: Segmentation analysis
The global elemental analysis market research report provides market segmentation by end-user (pharmaceutical and biotechnology companies, research and academic institutions, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the major end-users, the pharmaceutical and biotechnology companies segment held the largest market share in 2017, contributing to over 43% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 39% share, followed by EMEA and APAC respectively. The region dominated owing to the presence of several large pharmaceutical companies that use elemental analysis products for different testing and experimenting functions related to disease diagnosis and drug development.
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Five Forces Analysis
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