Over the years, the elemental analysis market has witnessed various technological advancements to meet the needs of biotechnology and biopharmaceutical companies; food and beverage, chemical, and semiconductor industries; and environmental testing. These advancements have led to the development of Inductively Coupled Plasma Spectrometry (ICP), Inductively Coupled Plasma Mass Spectrometry (ICP-MS), and Atomic Absorption Spectrometry (AAS). These technologies result in efficient quantitative and qualitative analysis of various organic and inorganic elements.
In 2015, the nondestructive technology segment is expected to account for the larger share of the global elemental analysis market, by technology; the inorganic elemental analysis segment is expected to account for the larger share of the elemental analysis market, by type; while the environment testing segment is expected to account for the largest share of elemental analysis market, by application.
In 2015, North America is expected to account for the largest share of the global elemental analysis market, followed by Europe, Asia, and the Rest of the World (RoW). In the coming years, the elemental analysis market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. The high growth in India and China can be attributed to China’s focus on innovative cancer treatments aided by ICP-AES, strategic expansions by players in China, use of Inductively Coupled Plasma Mass Spectrometry (ICP-MS) in traditional Chinese medicines, increasing focus on soil testing and food security, and training programs to increase awareness of elemental analysis in India.
The global elemental analysis market witnesses high competitive intensity as there are several big and many small firms with similar product offerings. These companies adopt various strategies (agreements, partnerships, joint ventures, collaborations, geographic expansions, new product launches, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the elemental analysis market. The report analyzes the elemental analysis market, by type, technology, and application
• Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the elemental analysis market
• Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various elemental analysis technologies across regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the elemental analysis market
• Competitive Assessment: In-depth assessment of the market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the elemental analysis market