The global elemental analysis market size is expected to reach USD 2.70 billion by 2030, registering a CAGR of 6.4% during the forecast period. The market is primarily driven by amendments in the ICH (International Council for Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use) regulations that mandate use of elemental analysis for finished medical products, including pharmaceuticals.
Many manufacturers of elemental analyzers invest in R&D of new and technologically advanced products. In addition to their expenses for R&D, many key players launched new products in the market. For instance, in May 2016, Agilent Technologies launched Agilent 5110 ICP-OES, which was designed to enable scientists perform fast and precise elemental analysis of pharmaceuticals and food products along with mining, industrial, and environmental analysis.
In addition, in many countries, the limit of heavy metals/trace elements is regulated by their respective pharmacopeias. For instance, United States, Japanese, and European pharmacopeias limit the amount of trace elements in finished pharmaceutical products. Furthermore, elemental analysis is a crucial step before commercial launch of a medical product in the market.
North America held the largest market share in 2023. Local presence of large number of manufacturers, regulation of limits of trace elements/heavy metals by United States Pharmacopeia (USP), and ongoing research for development of new products are major factors responsible for the largest share held by this region. However, Asia Pacific is likely to grow at the highest rate over the forecasts period. Rise in interest of market players to expand their business in Asia Pacific, growing awareness on safety of pharmaceuticals, and increase in expenditure by local pharmaceutical companies on elemental analyzers are factors that can be attributed for the highest growth rate of Asia Pacific region during the forecast period.
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Many manufacturers of elemental analyzers invest in R&D of new and technologically advanced products. In addition to their expenses for R&D, many key players launched new products in the market. For instance, in May 2016, Agilent Technologies launched Agilent 5110 ICP-OES, which was designed to enable scientists perform fast and precise elemental analysis of pharmaceuticals and food products along with mining, industrial, and environmental analysis.
In addition, in many countries, the limit of heavy metals/trace elements is regulated by their respective pharmacopeias. For instance, United States, Japanese, and European pharmacopeias limit the amount of trace elements in finished pharmaceutical products. Furthermore, elemental analysis is a crucial step before commercial launch of a medical product in the market.
North America held the largest market share in 2023. Local presence of large number of manufacturers, regulation of limits of trace elements/heavy metals by United States Pharmacopeia (USP), and ongoing research for development of new products are major factors responsible for the largest share held by this region. However, Asia Pacific is likely to grow at the highest rate over the forecasts period. Rise in interest of market players to expand their business in Asia Pacific, growing awareness on safety of pharmaceuticals, and increase in expenditure by local pharmaceutical companies on elemental analyzers are factors that can be attributed for the highest growth rate of Asia Pacific region during the forecast period.
Elemental Analysis Market Report Highlights
- The inorganic elements segment held the largest revenue share in 2023 due upcoming mandates for elemental analysis in medical products
- By technology, non-destructive technologies held the largest revenue share of the market in 2023. Retention of sample after analysis and high precision rate can be the key factors for largest share of this segment
- North America dominated the global elemental analysis market due to presence of USP regulations that limit the amount of heavy metals/trace elements.
The leading players in the Elemental Analysis market include:
- AMETEK.Inc.
- HORIBA Ltd.
- Shimadzu Corporation.
- Analytik Jena GmbH+Co.
- ELEMENTAR
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Danaher Corporation
- Rigaku Corporation
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Elemental Analysis Market Variables, Trends, & Scope
Chapter 4. Global Elemental Analysis Market: Element Estimates & Trend Analysis
Chapter 5. Global Elemental Analysis Market: Technology Estimates & Trend Analysis
Chapter 6. Global Elemental Analysis Market: End Use Estimates & Trend Analysis
Chapter 7. Global Elemental Analysis Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
The leading players in the Elemental Analysis market include:- AMETEK.Inc.
- HORIBA Ltd.
- Shimadzu Corporation.
- Analytik Jena GmbH+Co.
- ELEMENTAR
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Danaher Corporation
- Rigaku Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1.77 Billion |
| Forecasted Market Value ( USD | $ 2.7 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
