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Asian Region to Offer Significant Growth Opportunities to the Atomic Spectroscopy Market in the Coming Years
The global atomic spectroscopy market is witnessing a steady growth and will continue to do so in the next five years. The factors contributing to this growth are the enforcement of stringent safety regulations by various regulatory authorities across a number of industries, increasing usage of atomic spectroscopy technologies in the pharmaceutical industry, and rising opportunities in emerging nations. In this market, the Asian region is projected to witness the highest CAGR and the growth in this region will be centered at China and India.
In the Asian region, China is the leader in the atomic spectroscopy market and is considered as a favorable region by key players in the atomic spectroscopy market. In May 2011, Bruker opened its second major applications, training, and service center in Shanghai, while expanding its existing facility in Beijing. The facility is aimed to provide valuable support for the company’s growing customer base in the government, academic, clinical, and industrial segments. In November 2012, Thermo Fisher opened a new manufacturing facility in Suzhou, China. This new facility helped the firm to increase its global manufacturing footprint and accelerate its growth in the Asia-Pacific region. Setting up operations in China enabled the company to better serve its customers and expand its geographic presence. All the major players have seen steady growth in China, with favorable future prospects.
The North American market, comprising the U.S. and Canada, hosts numerous conferences, symposia, and seminars related to atomic spectroscopy. Furthermore, this region has a favorable funding scenario for research in various scientific sectors. In the European region, atomic spectroscopy is increasingly being used in wine testing and in the chemical industry, pharmaceutical industry, and academic research; this, coupled with the favorable funding scenario in some regions is contributing to the growth of the European market. The market in RoW is expected to witness some growth as well. This growth can be attributed to the use of atomic spectroscopy in the pharmaceutical industry of the respective countries.
Atomic Spectroscopy Market by Technology ( X-Ray Fluorescence / Atomic Absorption / X-Ray Diffraction / ICP-MS ) & by Application ( Food & Beverage / Pharmaceutical / Industrial Chemistry / Biotechnology / Environment ) - Competitive Landscape - Global Forecasts & Trends to 2018
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