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Elemental Analysis Market Size - Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

  • Report ID: GMI3954

Elemental Analysis Market Size

Elemental Analysis Market size is anticipated to witness healthy growth during 2024 to 2032, on account of the introduction of government regulations that mandate impurity analysis of pharmaceutical and biotech products. The elemental analysis technique greatly improves patient safety, as it allows for a common approach to curbing impurities posing health risks. The rise in pharma R&D spending will therefore boost the requirement for this technique to address patient safety concerns.
 

According to data released by the UK Parliament, in 2021, R&D conducted by UK businesses amounted to approximately USD 63.9 billion. This figure has consistently risen over the years when adjusted for inflation. The increasing drug development is escalating the need for elemental analysis instruments in the pharmaceutical sector.
 

Elemental Analysis Market Trends

The inflowing investment in agriculture is one of the prominent trends fostering the market growth. Based on statistics from the USDA 2021 report, more than 40 million acres of U.S. agriculture land is owned by foreign investors. The quality of fertilizers required for crop production is critical in ensuring the availability of the right nutrient amount to plants throughout the growth cycle. The increasing agricultural spending will therefore boost product consumption to ensure the presence of nutrients in sufficient quantity. Moreover, the rapid tech innovation and the high spending on-life sciences will create lucrative prospects for market players.
 

Elemental Analysis Market Analysis

Inorganic segment will grow significantly through 2032, considering the increased penetration in pharma samples to control drug sample quality. Considering the sensitive instrumentation, this technique is also extensively adopted to identify elements and contaminants in products. The widening application scope in cosmetics, foods, and adhesives will proliferate the sales of elemental analysis equipment to reduce the presence of inorganic impurities.
 

The elemental analysis industry from the food & beverage testing application segment is projected to hold major share revenue till 2032. The presence of regulatory bodies including the U.S. FDA to ensure a safe food supply chain is one of the growth drivers. In recent years, the number of cases registered against substandard, adulterated, or misbranded food items has surged. As per data from the Indian government, during 2021-2022, a total of 4,890 samples analyzed by food authorities were found unsafe. Furthermore, the introduction of EAM (Elemental Analysis Manual) for foods and related products will result in widespread product adoption in F&B testing.
 

North American elemental analysis market is slated to expand through 2032, given the rise in healthcare spending. The presence of regulatory bodies and pharmaceutical firms in region, coupled with rising cognizance pertaining to consumer safety will augment the need for elemental analysis. The advancements in technology, particularly in instrumentation and analytical techniques, are enhancing the efficiency and accuracy of elemental analysis processes. This is driving demand from various industries such as pharmaceuticals, environmental testing, and food and beverage, where precise elemental analysis is crucial for quality control and compliance with regulatory standards.
 

Elemental Analysis Market Share

Major players involved in the elemental analysis industry include:

  • AMETEK Inc.
  • HORIBA Ltd.
  • Shimadzu Corporation
  • Analytik Jena AG (Endress+Hauser)
  • Elementar Group
  • PerkinElmer Inc.
  • Thermo Fisher Scientific
  • Agilent TechnologiesInc.
  • Danaher Corporation
  • Rigaku Corporation

These companies are focusing on new product launches to expand their presence in the global market.
 

Elemental Analysis Industry News

  • In March 2023, Thermo Fisher Scientific unveiled its trace elemental analyzer, iCAP RQplus ICP-MS Analyzer. This product was designed to simplify analyses in food, environmental, industrial testing, and pharmaceutical laboratories.

What Information does this report contain?

Historical data coverage: 2018 to 2023; Growth Projections: 2024 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Authors: Preeti Wadhwani

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