Trace metal market studied and overview by environmental testing, food & beverage testing, pharmaceutical & biotechnology products testing, oil & gas testing, medical device testing, semiconductor testing and clinical diagnostics.
The trace metal market is projected to reach USD 6.9 billion by 2024 from USD 4.4 billion in 2019, at a CAGR of 9.5%. On the basis of type, trace metal analysis instrument market is segmented into bench top and portable instruments. Bench top segment is expected to register highest CAGR during the forecast period. Exhaustive information about new products, growing geographies, and recent developments in trace metal analysis market.
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Factors driving the trace metal market are stringent safety and quality regulations and new international cGMP & cGDP certification for pharmaceutical excipients, increasing spending on life science R&D, advancements in technologies, growing preference to outsource analytical requirements to third-party service providers, increasing demand from applied markets, rising opportunities in emerging countries, & need to comply with revised USP guidelines are driving the growth of trace metal analysis market.
“Food & Beverage Application Segment to Register the Highest CAGR During the Forecast Period.”
Trace metal market segmented into environmental testing, food & beverage testing, pharmaceutical & biotechnology products testing, oil & gas testing, medical device testing, semiconductor testing, clinical diagnostics, & applications. Food & beverage segment is expected to witness the highest CAGR owing to the growing public awareness and increasing food safety concerns, increasing demand for processed food, and the incidence of trace metal residues in processed foods.
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The trace metal instrument market is segmented into bench top and portable instruments. The bench top segment is expected to register the highest CAGR during the forecast period. These instruments offer advantages such as easy switching between different sample types and compositions, they produce detailed atomic spectrums of metals and offer accuracy and stability in measurements, thus being major factors driving the growth of this market segment.
APAC region is expected to witness the highest CAGR during the forecast period, owing to the growing use of trace metal analysis in the food industry, strategic expansion by market players in the Asia Pacific region, emerging biotech industry, increasing focus on soil testing, and the growing food safety and environmental safety concerns in several Asia Pacific countries.
Prominent players in the global trace metal market are Thermo Fisher Scientific (US), Agilent Technologies (US), PerkinElmer, Inc. (US), Analytik Jena AG (Germany), Bruker Corporation (US), Hitachi Hi-Technologies Corporation (Japan), Rigaku Corporation (Japan), Shimadzu Corporation (Japan), Eurofins Scientific (Luxembourg), Intertek Group PLC (US), SGS S.A. (Switzerland), Bureau Veritas S.A. (France), TÜV SÜD (Germany), and LGC Ltd. (UK).
More Information “Trace Metal Analysis Market by Technology Instrument (Atomic Absorption Spectroscopy, X-Ray Fluorescence, ICP-MS), Service (FAAS, ICP-OES)), Application (Food & Beverage, Pharmaceutical & Biotechnology, Environmental Testing) – Global Forecast to 2024” report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=2153812 .
The report analyzes the market for various trace metal analysis products and their adoption pattern. It aims at estimating the market size and future growth potential of the global trace metal analysis market and different segments such as technology, instrument type, application, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, and recent developments.
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