Elemental Report

Elemental Analysis Market By Type of Elements (Organic, Inorganic), By Technology (Destructive Technologies, Non-destructive Technologies), By Region, And Segment Forecasts, 2014 - 2025

Published: October 2017  |  96 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-633-2

Industry Insights

The global elemental analysis market size was valued at USD 1.20 billion in 2016 and is projected to grow at a CAGR of 6.2% during the forecast period. Introduction of technologically advanced products; implementation of regulations that mandate elemental analysis of pharmaceutical & healthcare products; and growing awareness due to conferences, meetings, and congresses are some of the factors expected to drive the market during forecast period.

Key players in the elemental analysis market are investing in R&D for developing new and technologically advanced products. For instance, R&D expenses of PerkinElmer, Inc. have increased from USD 108.1 million in 2014 to USD 124.3 million in 2016. In line with the increase in R&D expenses, in August 2017, the company launched Avio 200: the smallest ICP-OES with PlasmaCam camera and Syngistix software, which can be used for analysis of food and pharmaceuticals.

U.S. elemental analysis market, by type of elements, 2014 - 2025 (USD Million)

U.S. elemental analysis market

However, lack of skilled labor is expected to restraint the market during forecast period. In many underdeveloped and developing countries, elemental analysis is performed using older instruments as the workforce is not skilled in operating technologically advanced products. Therefore, many manufacturers in these countries are conducting training programs. However, there still exists a huge gap in demand & supply of workforce skilled in operating elemental analysis instruments.

Key players in this market are developing advanced products to meet the increasing demand. For instance, in March 2017, Thermo Fisher Scientific launched iCAP TQ ICP-MS system at Pittcon 2017 in Chicago, U.S. This system was designed to meet the growing need for detecting trace elements in pharmaceuticals.

Type Insights

Elemental analyzers are used for detecting wide range of elements, including organic, inorganic, and trace metals. They are also used for qualitative & quantitative estimation of heavy metals and detecting traces of catalysts in a sample. On the basis of types of elements, the market is segmented into organic and inorganic elements. In 2016, inorganic elements held the largest share, by type, and is also expected to grow at the fastest rate during forecast period.

Organic elemental analysis is the quantitative and qualitative estimation of organic compounds, such as carbon, hydrogen, nitrogen, and sulfur, among others. Estimation of these compounds in pharmaceuticals is infrequent, as they are the most basic compounds found in every given sample. The market for estimation of organic elements is expected to witness a steady growth during the forecast period.

Inorganic elements analyzed in pharmaceutical samples range from heavy metals to traces of catalysts. In 2016, analysis for inorganic elements held the largest market share. This large share can be attributed to the guidelines that provide allowable limits of heavy metals and trace metals in pharmacopeias of various countries. Recent amendments in the ICH (International Council for Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use) guidelines are some of the key factors expected to boost growth of this segment during forecast period.

Technology Insights

The elemental analysis market can be segmented into destructive and nondestructive technologies on the basis of technology used. In 2016, nondestructive technologies segment held the largest share, by technology. This segment is also expected to grow at the highest rate during forecast period. Retention of the sample and high accuracy, as well as technological advancements, are some of the key factors responsible for the largest share of this segment.

The destructive technologies for elemental analysis was further segmented into Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES), Inductively Coupled Plasma Mass Spectroscopy (ICP-MS), combustion analysis, and other technologies (electroanalytical and chemical methods). In 2016, ICP-OES segment contributed to the largest share of destructive technologies market. However, ICP-MS segment is expected to grow at the highest CAGR during the forecast period. Advantages of ICP-MS, like high precision and wide limit range up to precipitate levels, are some of the key factors expected to increase the growth of this segment.

The nondestructive technologies segment was divided into X-ray Fluorescence (XRF),Fourier Transform Infrared Spectrophotometer (FTIR), and other technologies. In 2016, XRF technologies segment held the largest share of nondestructive elemental analysis technologies market. This segment is also expected to grow at the highest rate during the forecast period. Technological advancements, low sample volumes used, and capability of analyzing wide range of elements are some of the key factors responsible for largest share of this segment.

Regional Insights

North America dominated the market in 2016 with a revenue share of around 40.5%. Increase in applications of elemental analysis in healthcare, upcoming regulations that mandate elemental analysis of finished medical products, USP guidelines & limits for elements in pharmaceutical compounds, and increase in research for the development of technologically advanced elemental analyzers are some of the key factors contributing to the largest share of North America.

Elemental analysis market, by region, 2016 (%)

Elemental analysis market

Asia Pacific is estimated to grow with the fastest CAGR during the forecast period. Increase in interest of manufacturers of key elemental analysis products to establish subsidiaries in the Asia Pacific region, growing awareness regarding safety of pharmaceuticals, and increase in conferences & meetings in Asia Pacific are expected to boost the market during the forecast period. In addition, the Asia Pacific market has local presence of large number of pharmaceutical companies as well as academic & research institutes, which are major end users of the market. This large end-user pool is expected to offer significant growth opportunities in the region.

Europe is expected to be the second-largest market for elemental analysis instruments in 2016. Key factors contributing to this share include increase in number of elemental analysis service companies and presence of regulations that limit the amount of trace metal/heavy metal in the pharmaceutical compounds & large end-user pool. However, the European market is expected to witness sluggish growth during the forecast period.

Competitive Insights

Some of the key players operating in this market are Thermo Fisher Scientific, Inc.; PerkinElmer, Inc.; Shimadzu Corporation; Analytik Jena AG; Agilent Technologies, Inc.; Elementar Analysensysteme GmbH; and Rigaku Corporation. Incessant product launches and geographic expansions to increase customer base are some of the key strategic initiatives undertaken by key players to increase their share.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country scope

U.S., Canada, Germany, UK, Japan, China, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth and provides analysis on the industry trends in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented elemental analysis market on the basis of type of elements, technology, and region:

  • Type of Elements Outlook (Revenue, USD Million; 2014 - 2025)

    • Organic

    • Inorganic

  • Technology Outlook (Revenue, USD Million; 2014 - 2025)

    • Destructive Technologies

      • ICP-MS

      • ICP-OES

      • Combustion Analysis

      • Other Destructive Technologies

    • Nondestructive Technologies

      • XRF

      • FTIR

      • Other Nondestructive Technologies 

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

Key questions answered by the report
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