Global Atomic Absorption Spectrometer Market (Business Opportunities - Advertising Service)

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Global Atomic Absorption Spectrometer Market

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Global atomic absorption spectrometer market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 6% during the forecast period.

Global Atomic Absorption Spectrometer Market

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report and the same is reflected in our analysis.

Market Definition

Atomic absorption spectroscopy is a technology or a method that is used to determine the concentration and presence of substances in a liquid sample. Atomic absorption spectrometers (AAS) are electronic instruments that are used to measure the concentration of an element in a sample.

Market Dynamics

Global atomic absorption spectrometer market has been seeing ample growth from the past few years owing to its growing use in various industries such as semiconductor manufacturing, environmental testing, chemical and petroleum production, metal analysis, and in the pharmaceuticals industry. The demand for the atomic absorption spectrometer is expected to be driven by factors such as increased adoption of AAS in the drug development and drug safety process and medical research, growing usage of x-ray fluorescence technology in medical research, and increased awareness about food safety. In addition, supportive and strict government regulations related to the drug development process and rising investments by the government in atomic absorption spectroscopy technology are anticipated to raise the demand of atomic absorption spectrometer across the world. A surge in the demand of highly sensitive, accurate, easy, and quick instruments to determine the concentrations of elements is further expected to improve the growth of the market during the forecast period.

However, the ability to analyze only solutions, less sensitivity compared to graphite furnace and lack of technically skilled personnel, these factors are expected to restrict the market’s expansion during the forecast period.

Global Atomic Absorption Spectrometer Market: Segmentation Analysis

By application, the pharmaceuticals & biotechnology segment dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during the forecast period. Increased adoption of the atomic absorption spectrometer in the pharmaceuticals industry during the drug development process is attributed to the growth of the market. Atomic absorption spectrometers are used for impurity or contamination tests for trace metals and for analysis of a range of usually occurring elements in pharmaceuticals.

The pharmaceutical industry has seen growing significance from the past 10-15 years, as modern analytical instrumentation such as atomic absorption spectrometer has afforded analysts with the prospect to offer highly accurate, element-specific, and extremely useful information related to pharmaceutical products. According to the study, MMR expected that the global pharmaceutical market will be worth approximately US$ 1.6 trillion by the end of 2020. Escalating demand for medicines during COVID-19 pandemic has dramatically increased the demand for pharmaceutical products, which is further propelling the growth of market.

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Last Update : Aug 24, 2020
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2020-10-28 (0.073 sec)