Global Elemental Analysis Market: Growing funding for research & development and increasing concern about food safety are witnessing the market growth during forecast period.

Published Date: 14/05/2021

The global elemental analysis market size was valued at USD 5.8 billion in 2020 and is expected to reach USD 7.6 billion at a CAGR of 4 % during the forecast period. Elemental Analysis Market size is expected to grow rapidly over the forecast period due to rise in food safety concerns, government regulations for elemental analysis of pharmaceutical and healthcare products and increase in research & development in the pharmaceutical sector. Academic institutions are using the elemental analysis for research activities in fields such as medicine, metabolomics, and proteomics. Government authorities are providing funds to these institutions for acquiring the necessary equipment for a wide range of research activities. The use of X-Ray fluorescence in healthcare research is also contributing significantly to the elemental analysis market growth.

The elemental analysis helps in detecting different elements such as inorganic, organic, and trace metals. It can also be used for qualitative and quantitative estimation of heavy metals and detecttraces of catalyst in a sample. Elemental analysis can be used for soil analysis for quantifying essential elements from the soil. For instance, the Inductively Coupled Plasma-Mass Spectroscopy (ICP-MS) technique was used to quantify radioactive iodine from soil samples in the region closer to the Fukushima nuclear power plant in Japan. It can also be used in geological excavations for determining the origin and chemical composition of ancient material. For instance, Getty Conservation Institute (Los Angeles, CA) used the elemental analysis to determine the origin of Lead-Tin-based pigments found on Egyptian mummies.

Elemental analysis is a key factor for improving food safety by determining adulteration in food such as determination of Mercury in milk powder and Selenium in fish meat. It also helps pharmaceutical companies to determine impurities in samples of products, excipient, and packaging. The high-cost requirement for elemental analysis instruments can restrict the market growth. The lack of skilled labour for operating the advanced equipment can also hamper the elemental analysis market growth.

Some of the key players in this market are Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), AMETEK, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Shimadzu Corporation (Japan), Elementar Group (Germany) and Rigaku Corporation (Japan) among others.

Currently North America is dominating the market for elemental analysis in terms of revenue, followed by Europe and Asia-Pacific. The major factor responsible for immense development of elemental analysis market in North America is rapid technological advancement of this technique in various application areas, such as food and beverage, biotechnology, chemical and semiconductor industries among others. However, Asia Pacific is anticipated to grow at a significant rate in the future, primarily due to increasing awareness for elemental analysis in China and India coupled with rising demand from applied markets. Furthermore, strategic expansion by manufacturers in China and use of modern analysis technique in Chinese medicines are likely to develop the market for elemental analysis in Asia Pacific.