The global ICP-OES spectrometer market was valued at USD 521.4 million in 2018 at a CAGR of 7.2% during the forecast period of 2019 to 2025.
ICP-OES Spectrometer is an analytical instrument that is used for the detection of chemical elements. It uses the technique of inductively coupled plasma optical emission spectroscopy (ICP-OES) for carrying out its analysis procedure. Certain factors that propel the growth of the ICP-OES spectrometer market include increasing R&D expenditure for the development of better analytical systems and growing technological advancements.
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However, the high cost of instruments and requirement of large capital investment for setting up instrument manufacturing plants is hindering the growth of the global ICP-OES spectrometer market in the forecast period.
Currently, the global ICP-OES spectrometer market is dominated by several players. The major players in this market are involved in strategic acquisitions and product launches to expand their product portfolios. For instance, in March 2016, GBC Scientific Equipment launched the OptiMass 9600, which uses the ICP-OES spectrometer technology.
Segmental Analysis
The global ICP-OES spectrometer market has been segmentedbased on spectrometer type, application, end user, and region.
The market, based on spectrometer type, has beensegmented into sequential and simultaneous. The sequential spectrometer marketis expected to hold a major share in the market owing to its wider availabilityin the market. The sequential spectrometer market is anticipated to be thefastest-growing due to its rising adoption rate in the industry.
The market, by application, has been divided intonanotechnology, drug discovery, environmental testing, food & agriculture,and others. The drug discovery segment is expected to hold a major share owingto its large number of applications in the market. The environmental testingsegment is expected to be the fastest-growing due to the rising number ofresearch activities for using ICP-OES spectrometer for environmental testingpurpose.
The market, by end user, has been classified aspharmaceutical & biotechnology companies, research & academicinstitutes, and others. The pharmaceutical and biotechnology companies’ segmentis anticipated to hold a major share in the market due to the increasing numberof applications of ICP-OES spectrometer in the pharmaceutical industry. Theresearch & academic institutes segment is expected to be thefastest-growing market due to the rising number of research activities.
Key Players
Some of the key players in the global ICP-OES spectrometer market are PerkinElmer Inc. (US), Shimadzu Corporation (Japan), GBC Scientific Equipment (Australia), Thermo Fisher Scientific (US), Agilent Technologies, Inc. (US), SPECTRO Analytical Instruments GmbH (Germany), Teledyne Leeman Labs (US), Analytik Jena AG (Germany), Horiba (Japan), Skyray Instrument Inc. (US), Beijing Huake Tiancheng Technology Co., Ltd (China), FPI (China), Hitachi High-Technologies Corporation (Japan), Merck KGaA (Germany), and others.
Regional Analysis
The global ICP-OES spectrometer market, by region, issegmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.The ICP-OES spectrometer market in the Americas has further been segmented intoNorth America and Latin America, with the North American market divided intothe US and Canada. The European ICP-OES spectrometer market has beensub-divided into Western Europe and Eastern Europe. Western Europe has furtherbeen classified as Germany, France, the UK, Italy, Spain, and the rest ofWestern Europe. The ICP-OES spectrometer market in Asia-Pacific has beensegmented into Japan, China, India, South Korea, Australia, and the rest ofAsia-Pacific. The ICP-OES spectrometer market in the Middle East & Africahas been divided into the Middle East and Africa.
Table of Contents
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
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