LONDON--(BUSINESS WIRE)--The global atomic spectroscopy market is expected to grow by USD 2,295.58 million as per Technavio. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 8%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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Market estimates include pre- and post-COVID-19 impact on the atomic spectroscopy market - Request free sample pages
The global atomic spectroscopy market will not see any major impact due to the spread of COVID-19. Consumers are neither expected to increase nor decrease their demand. However, the market outlook might change if the containment efforts go beyond Q2 2020.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by increased funding by government organizations for environmental testing and product safety. In addition, the growing use of portable spectroscopy systems in metal producing and processing sectors is anticipated to boost the growth of the atomic spectroscopy market.
Atomic spectroscopy is one of the key analytical techniques used to detect contaminants in food, water, soil, and air. This is because atomic spectroscopy systems offer low-cost and high-efficiency benefits and can easily detect contaminants such as lead in end-user products. With growing concerns toward environmental monitoring, several governments across the world are funding analytical testing projects to create a contaminant-free, safe, and qualitative industrial output with minimal impact on the environment. For instance, in 2018, the EPA announced to fund about USD 5.9 million to the Water Research Foundation and the Virginia Polytechnic Institute and State University in the US for the determination of lead exposure in potable water. Such initiatives by governments across the world are creating significant demand for atomic spectroscopy systems, which is driving the growth of the market.
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Major Five Atomic Spectroscopy Companies:
Agilent Technologies Inc.
Agilent Technologies Inc. operates its business through segments such as Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company offers 240FS AA, which is a sequential atomic absorption spectrometer, which can be utilized by food, environmental, and agricultural labs.
AMETEK Inc. operates its business through segments such as Electronic Instruments and Electromechanical. The company offers StreamPro, which is a mass spectrometer that offers real-time gas analysis for a wide range of industrial applications.
Bruker Corp. operates its business through segments such as BSI and BEST. The company offers impact II, which provides full-sensitivity resolution for enhanced analytical performance levels in biomarker research, identification of impurities, or residue screening.
Hitachi High-Technologies Corp.
Hitachi High-Technologies Corp. operates its business through segments such as Science & Medical Systems, Electronic Device Systems, Industrial Systems, and Advanced Industrial Products. The company offers ZA3000 Series, which is a polarized Zeeman atomic absorption spectrophotometer, utilized in elemental analysis.
JEOL Ltd. operates its business through segments such as Scientific and meterology instruments, Industrial equipment, and Medical equipment. The company offers JMS-S3000 SpiralTOF, which is used for the analysis of synthetic polymers and imaging mass spectrometry of polymers and materials.
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Atomic Spectroscopy Market Application Outlook (Revenue, USD Million, 2020-2024)
- Pharmaceutical and biotechnology testing
- Food and beverage testing
- Environmental testing
Atomic Spectroscopy Market Geography Outlook (Revenue, USD Million, 2020-2024)
- North America
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