The global atomic spectroscopy market is set to enjoy a valuation of US$ 5.9 Bn in 2021, and further expand at a CAGR of 6.7% to reach US$ 11.9 Bn by the year 2032.
“Increasing demand of atomic spectroscopy in various research and development activities in the laboratories will attribute the revenue growth of atomic spectroscopy market across the world.”
Atomic spectroscopy is the study of electromagnetic radiation that emits and absorbs atoms. The three key techniques such as atomic fluorescence, atomic absorption, and atomic emission are carried out in the atomic spectroscopy determination process. The structure and type of atom are calculated by the ratio that is taken from mass to charge by use of a mass analyzer. With that, the concentrations are examined by the sum of the number of detected ions.
Atomic spectroscopy is used as an instrument to study the different structures of atoms and molecules in the laboratories. The molecule’s spectral lines are identified with the help of atomic spectroscopy and it is highly in demand in the metallurgy sector. Along with these applications, they are used in pharmaceutical organizations and forensic laboratories for the study of traces of material used. Also, it is applicable for the study of multidimensional components.
Attributes
Details
Atomic Spectroscopy Market Value in 2021
US$ 5.9 Billion
Atomic Spectroscopy Market Value in 2032
US$ 11.9 Billion
Atomic Spectroscopy Market CAGR (2022 to 2032)
6.7%
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What are the Major Drivers Boosting the Demand for Atomic Spectroscopy Market?
The major factor responsible for the growth of the atomic spectroscopy market is the rising number of funds that are received by research laboratories from the government for research and development. Moreover, the growing concerns on food and beverage safety and security will also propel the overall market growth.
Furthermore, the increasing use and awareness of atomic spectroscopy in the pharmaceutical and biopharmaceutical sector is predicted to increase the market demand in the forecasted years. Besides this, the enforcement of several safety regulations in the biotech and pharma companies will help out organizations to understand the significance of atomic spectroscopy in environmental testing, food and beverage testing, and biotechnology, eventually encouraging the growth of the market in the upcoming years.
Which Region Shows Strong Growth Potential in the Atomic Spectroscopy Market?
Geographically, the atomic spectroscopy market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
Among all these regions, North America holds the largest share in the atomic spectroscopy market owing to the rising concerns about food safety. Besides this, the increasing presence of manufacturers is expected to propel the market in North America.
On the other hand, the Asian region is expected to emerge as the rapidly growing region in the global atomic spectroscopy market. The market growth is attributed to the growing number of biotech and pharmaceutical firms in developing economies like China and India.
