(EMAILWIRE.COM, October 31, 2020 ) The atomic spectroscopy market is poised to reach USD 5.60 Billion by 2020, growing at a CAGR of 6.0% during the forecast period of 2015 to 2020.

The demand for atomic spectroscopy systems has been on the rise due to the burgeoning requirements of the life sciences and pharmaceutical industries as wells as the substantial demand from the chemical and petrochemical industries. Various regulatory authorities across industries have enforced stringent safety regulations in order to ensure that the products launched in the market adhere to quality specifications.

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Opportunities in the Atomic Spectroscopy Market

New Product Launches
Requirement to Comply With the Revised Chapter 231 of the U.S. Pharmacopeia to Boost the Demand for ICP-MS Globally
Growing Opportunities in Emerging Nations

The use of atomic spectroscopy technologies facilitate the compliance with these regulations by enabling the measurement and monitoring of the level of metals in samples.

Based on application, the market is segmented into pharmaceuticals & biotechnology, industrial chemistry, environmental testing, food & beverage testing, petrochemical, geochemical/mining and others. In 2015, the food & beverage testing segment is estimated to account for the major share of the atomic spectroscopy market.

In 2015, North America is expected to account for the largest share of the atomic spectroscopy market

On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, North America is expected to account for the largest share of the atomic spectroscopy market, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period and serve as a revenue pocket for companies offering atomic spectroscopy equipment.

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Key Players

Some major players in the global atomic spectroscopy market include Agilent Technologies (U.S.), PerkinElmer (U.S.), Thermo Fisher Scientific (U.S.), Bruker Corporation (U.S), Rigaku Corporation (Japan), Shimadzu Corporation (Japan), Analytik Jena AG (Germany), Hitachi High-Technologies Corporation (Japan), GBC Scientific Equipment Pty Ltd (Australia), and Aurora Biomed (Canada).