Global Trace Metal Analysis Market is valued at USD 4.2 Bn in 2018 and expected to reach USD 6.5 Bn by 2026 at a CAGR of 5.61% during the forecast period.To know about the Research Methodology:-Request Free Sample Report
Global Trace Metal Analysis Market Dynamics:
Trace metals analysis enables detection and identification of low levels of metals in a sample which can be critical to product development, quality control, and regulatory compliance. The global trace metal market is valued at USD 4.2 billion in 2019 and expected to reach at USD 6.5 billion by 2027 at CAGR of 5.61% during forecast period. The wide use of trace metal sensors in food industries and water treatment plants is mainly driving the growth of the market. North America accounted for the largest share of the trace metal analysis market in 2019, followed by the Asia Pacific.
Global Trace Metal Analysis Market Drivers:
• Stringent Safety and Quality Regulations
• Technological Advancements in Trace Metal Analysis
• Rising Life Science R&D Investments & Expenditure
• New international cGMP & GDP certification for pharmaceutical excipients
• Rising opportunities in emerging countries, and the need to comply with revised USP guidelines
• The wide use of trace metal sensors in food industries and water treatment plants is propelling the growth of the market
• Favorable government initiatives to promote the growth of pharmaceutical and biotechnology industries major factor driving the growth of the Asia Pacific market.
Global Trace Metal Analysis Market Restrains:
• High cost of equipment
• Lack of skilled professionals
Global Trace Metal Analysis Market Regional Analysis:
North America accounted for the largest share of the trace metal analysis market in 2019, followed by the Asia Pacific. Factors such as, presence of a well-established pharmaceutical industry in the region, high R&D expenditure, growing focus on trace metal analysis in applied markets, implementation of stringent regulatory guidelines by ICH for pharmaceutical ingredients, and the presence of a large number of service providers and instrument manufacturers in the region are primary factors driving the growth of the trace metal analysis market in North America.
The trace metal analysis market in APAC is also expected to grow faster during the forecast period owing to growing use of trace metal analysis in the food industry, strategic expansion by market players in the Asia Pacific region.
Global Trace Metal Analysis Market, Recent Highlights in Markets
• On 3 April 2019, Thermo Fisher Scientific Inc., in collaboration with Food Safety and Standards Authority of India (FSSAI), announced the opening of an advanced, sophisticated food safety solution center at Ghaziabad, India. The Centre is equipped with the latest innovations in liquid, gas and ion chromatography, mass spectrometry and trace element analysis.
• On 9 May 2018, Eurofins Scientific, a prominent trace metal analysis company has announced that it has signed an exclusive agreement to acquire PHAST Gesellschaft fur Pharmazeutische Qualitatsstandards mbH, one of Europe’s foremost service providers in the field of pharmaceutical products quality.
• In 2018, Eurofins Scientific acquired Test America Laboratories, Inc. (US). This acquisition strengthened & expanded its environmental testing business in the US for services such as wet chemistry, trace organics & specialty testing, and metals & inorganics testing in the trace metal analysis market.
• In 2017, Thermo Fisher Scientific launched the Niton XL5 handheld XRF analyser.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Trace Metal Analysis Market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence.
Global Trace Metal Analysis Market, Key Highlights:
• Global Trace Metal Analysis Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Trace Metal Analysis Market
• Global Trace Metal Analysis Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Trace Metal Analysis Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Trace Metal Analysis Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Trace Metal Analysis Market are also profiled.
Scope of the Global Trace Metal Analysis Market Report: Inquire before buying
Global Trace Metal Analysis Market, by Technology
• Atomic Absorption Spectroscopy (AAS)
• Inductively Coupled Plasma-Mass Spectrometry (ICP-MS)
• Inductively Coupled Plasma/Atomic Emission Spectrometry (ICP-AES)
Global Trace Metal Analysis Market, by Type
• Piezoelectric Sensor
• Three-Electrode On-Chip Sensor
Global Trace Metal Analysis Market, by Application
• Food and Catalysts
• Packaging and Pharmaceuticals
• Crude Oil Petroleum
• Consumer Products
Global Trace Metal Analysis Market, by Region
• North America
• MEA and Africa
Key Players Operating in the Global Trace Metal Analysis Market:
• Thermo Fisher Scientific (US)
• Agilent Technologies (US)
• PerkinElmer, Inc. (US)
• Analytik Jena AG (Germany)
• Bruker Corporation (US)
• Hitachi Hi-Technologies Corporation (Japan),
• Rigaku Corporation (Japan)
• Shimadzu Corporation (Japan)
• Eurofins Scientific (Luxembourg)
• Intertek Group PLC (US)
• SGS S.A.(Switzerland)
• Bureau Veritas S.A. (France)
• TUV SUD (Germany)
• LGC Ltd. (UK)
• Spectrix Analytical Services, LLC
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