The Business Research Company’s Atomic Spectroscopy Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Atomic Spectroscopy Global Market Report 2023 evaluates atomic spectroscopy market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global atomic spectroscopy market is poised for a robust expansion, underpinned by a forecast that foresees its valuation ascending from $6.84 billion in 2022 to an impressive $7.38 billion in 2023, constituting a commendable compound annual growth rate (CAGR) of 7.8%. Nevertheless, this growth narrative unfolds against the backdrop of a complex global landscape, reshaped by the Russia-Ukraine war and its multifaceted implications, including its unsettling impact on global economic recovery post the COVID-19 pandemic.
The Russia-Ukraine conflict has cast a shadow over the prospects of a swift global economic rebound, with far-reaching consequences felt across diverse sectors and regions. The war’s repercussions have reverberated globally, translating into the imposition of economic sanctions on multiple nations, a pronounced upswing in commodity prices, and disruptions throughout the intricate fabric of global supply chains. These cascading effects have generated inflationary pressures impacting the pricing dynamics of both goods and services, thereby significantly influencing numerous markets worldwide.
However, the atomic spectroscopy market remains resilient and poised for growth. Projections indicate that by 2027, it is expected to attain a substantial valuation of $9.8 billion, accompanied by a CAGR of 7.4%. An intrinsic factor propelling this upward trajectory is the burgeoning landscape of drug development and innovation.
The burgeoning sphere of pharmaceuticals, characterized by the continuous introduction of novel drugs, serves as a pivotal catalyst in the expansion of the atomic spectroscopy market. Novel drugs represent pharmaceutical substances not previously approved or marketed for therapeutic use. Atomic spectroscopy plays a pivotal role in drug development, providing a sophisticated means to determine the elemental composition of these innovative pharmaceutical entities.
Illustratively, data from the US Food and Drug Administration indicates that the year 2020 witnessed the approval of 53 novel drugs, a noteworthy increase compared to the 48 approvals recorded in 2019. This surge in novel drug approvals underscores the indispensable role played by atomic spectroscopy in ensuring the quality and safety of these therapeutic breakthroughs. In essence, the upward trajectory of the atomic spectroscopy market is intricately linked to the ever-evolving landscape of pharmaceutical innovation, affirming its enduring significance in advancing the frontiers of science and healthcare.
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The atomic spectroscopy market segments in the report are:
1) By Type: Instruments, Inductively Coupled Plasma (ICP) Spectrometer, Other Types
2) By Technology: Atomic Absorption Spectroscopy (AAS), X-ray Fluorescence (XRF), X-ray Diffraction (XRD), Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP-OES), Inductively Coupled Plasma-Mass Spectrometry (ICP-MS), Elemental Analyzers, Other Technologies
3) By Application: Food And Beverage Testing, Pharmaceutical, Industrial, Environmental Testing, Geological Sciences, Petrochemical, Academics, Other Applications
4) By Distribution Channel: Direct Tenders, Retail
5) By End-User: Laboratories, Universities, Manufacturing Facilities, Government Agencies
The table of contents in TBRC’s atomic spectroscopy market report includes:
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