ICP-OES Spectrometer Market Research Report - Forecast till 2030

ICP-OES Spectrometer Market Research Report Information by Spectrometer Type (Sequential, Simultaneous), Application (Nanotechnology, Drug Discovery, Environmental Testing, Food & Agriculture, Others), End-User (Pharmaceutical and Biotechnology Companies, Research and Academic Institutes, Others), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa) - Forecast till 2030

ID: MRFR/IA - E/6648-HCR | 90 Pages | Author: Pradeep Nandi | March 2024         

ICP-OES Spectrometer Market Speak to Analyst Request a Free Sample

ICP-OES Spectrometer Market Scenario:


The ICP-OES spectrometer market is anticipated to reach USD 21.19 Million by 2030 at 6.30% CAGR during the forecast period 2022-2030.


ICP-OES Spectrometer or inductively coupled plasma optical emission spectroscopy is an analytical technique that is used for the detection of chemical elements. With the help of this technique, the composition of elements in samples can be determined using plasma and a spectrometer. The market is driven by factors such as increasing R&D expenditure for the development of better analytical systems and growing technological advancements. On the other hand, the high cost of instruments and the requirement of large capital investment for setting up instrument manufacturing plants is projected to negatively affect the growth of the market during the assessment period.


Moreover, major companies in the market are involved in strategic acquisitions and collaborations to sustain their position in the market. For instance, in May 2018, PerkinElmer Inc. acquired Shanghai Spectrum Instruments Co., Ltd, which helped the company to build a strong position in the Chinese market.


Segmentation


The global ICP-OES spectrometer market has been segmented based on spectrometer type, application, and end user.


The market, based on spectrometer type, has been bifurcated into sequential and simultaneous. The sequential spectrometer market is expected to hold a major share in the market owing to its wider availability in the market. The simultaneous spectrometer segment is anticipated to be the fastest growing due to its rising adoption rate.


The market, by application, has been divided into nanotechnology, drug discovery, environmental testing, food & agriculture, and others. The drug discovery segment is expected to hold a major share owing to a large number of applications of ICP-OES spectrometer in this field. The environmental testing segment is expected to be the fastest growing due to an increasing number of research activities for using ICP-OES spectrometer for environmental testing purpose.


The market, by end user, has been classified as pharmaceutical & biotechnology companies, research & academic institutes, and others. Pharmaceutical & biotechnology companies are anticipated to hold a major share in the market. This is due to the increasing number of applications of ICP-OES spectrometer in the pharmaceutical industry. The research & academic institutes segment is expected to become the fastest growing market due to the increasing research activities.


The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The ICP-OES spectrometer market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European market has been sub-divided Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been divided into the Middle East and Africa.


Key Players



  • PerkinElmer Inc.

  • Shimadzu Corporation

  • GBC Scientific Equipment

  • Thermo Fisher Scientific

  • Agilent Technologies, Inc.

  • SPECTRO Analytical Instruments GmbH

  • Teledyne Leeman Labs

  • Analytik Jena AG

  • Horiba

  • Skyray Instrument Inc.

  • Beijing Huake Tiancheng Technology Co., Ltd

  • FPI

  • Hitachi High-Technologies Corporation

  • Merck KGaA


Regional Market Summary


Global ICP-OES Spectrometer Market Share (%), by Region, 2018  ICP-OES Spectrometer Market


Source: World Health Organization (WHO) and Institute of Medicine (IOM)


The market in the Americas is expected to dominate the global ICP-OES spectrometer market due to the growing expenditure on R&D to develop new technologies and the high adoption of new technology in the region. Moreover, the presence of major companies such as PerkinElmer Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, etc. in North America is also expected to fuel the market growth in the region.


The market in Europe showed a substantial amount of growth. The market growth in this region can be attributed to the presence of a well-established healthcare system and increasing adoption of ICP-OES spectrometer for research purposes.


The market in Asia-Pacific is projected to have the fastest growth rate during the forecast period owing to the rapid growth of the pharmaceutical industry in countries such as China, India, and Japan.


The market in the Middle East & Africa is anticipated to account for the least share of the global market due to low disposable income in the region. Moreover, the presence of major companies in the Middle East and African market is also limited, which is projected to curb the growth of the market in the future.


Global ICP-OES Spectrometer Market, by Modality 



  • Sequential

  • Simultaneous


Global ICP-OES Spectrometer Market, by Application



  • Nanotechnology

  • Drug Discovery

  • Environmental Testing

  • Food & Agriculture

  • Others


Global ICP-OES Spectrometer Market, by End User



  • Pharmaceutical and Biotechnology Companies

  • Research and Academic Institutes

  • Others


Global ICP-OES Spectrometer Market, by Region



  • Americas

    • North America

      • US

      • Canada



    • Latin America





  • Europe

    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe



    • Eastern Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific





  • Middle East & Africa

    • Middle East

    • Africa




Intended Audience



  • Pharmaceutical companies

  • Biotechnology companies

  • Research and development (R&D) companies

  • Government research institutes

  • Academic institutes and universities

  • Venture Capitalists

Report Scope:

 
Report Attribute/Metric Details
  Market Size 2030 : USD 21.19 Million
  CAGR 6.30% : 2022-2030
  Base Year 2021
  Forecast Period 2022-2030
  Historical Data 2022
  Forecast Units Value (USD Million)
  Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered Spectrometer Type, Application, End User
  Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors PerkinElmer Inc., Shimadzu Corporation, GBC Scientific Equipment, Thermo Fisher Scientific, Agilent, Technologies, Inc., SPECTRO Analytical Instruments GmbH, Teledyne, Leeman Labs, Analytik Jena AG, Horiba, Skyray Instrument Inc., Beijing Huake Tiancheng Technology Co., Ltd, FPI, Hitachi High-Technologies Corporation, Merck KGaA
  Key Market Opportunities New product launches and R&D Amongst major key Players
  Key Market Drivers Growing Technological Advancements
 



Frequently Asked Questions (FAQ) :

The ICP-OES spectrometer market anticipates a 6.30% CAGR during the forecast period of 2022 to 2030.

The ICP-OES spectrometer market valuation of 2030 was USD 21.19 Million.

The sequential spectrometer would lead the ICP-OES spectrometer market.

The drug discovery segment would dominate the ICP-OES spectrometer market.

Top key players in the market PerkinElmer Inc., Shimadzu Corporation, GBC Scientific Equipment, Thermo Fisher Scientific, Agilent, Technologies, Inc., SPECTRO Analytical Instruments GmbH, Teledyne, Leeman Labs, Analytik Jena AG, Horiba, Skyray Instrument Inc., Beijing Huake Tiancheng Technology Co., Ltd, FPI, Hitachi High-Technologies Corporation, Merck KGaA, and others.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response
Invalid