The global XPS market was valued at USD 439.64 million in 2014 and is expected to grow at a CAGR of 6.2% over the forecast period. Increasing global demand for medical research, pure and safe drugs, minimal medication error and technological advancements are some key drivers of the XPS market. Government initiatives and support in order to create awareness regarding contamination level in drugs & formulations, R&D and chemical analysis are expected to fuel the growth of the XPS market.
Global XPS market, by application, 2012 - 2022 (USD Million)
The National Institute of Standards & Technology (NIST), Technical University of Munich (Germany) and ELETTRA (Italy) through their studies have favored enhanced usage of XPS compared to other conventional approach owning to its ease of use. Drug Enforcement Agency (DEA), the Agency for Health Care Research and Quality (AHRQ), the Centers for Disease Control and Prevention (CDC) and the FDA emphasize on drug safety and provide for limits of contaminants and other chemicals in various raw materials and formulations which is identified using XPS. Technological advancement including HAXPES (Hard X ray photoelectron spectroscopy) and hyphenated techniques further enhance growth opportunities. The Hyphenated techniques help solve complex analytical issues and improve the applicability of XPS system. A few available hyphenated techniques are GC-MS, LC-MS and LC_NMR. Global growth in application of XPS across various industries, technological advancement in R&D and government initiatives are the high impact rendering drivers for the industry.
Usage segments of the XPS market include element detection, contamination detection, density estimation and empirical formula determination. The element detection market witnessed the highest share in 2013 and is expected to grow further during the forecast period due to diverse applicability. Element detection by XPS detects more than 6,000 binary system using Magnesium and Aluminum. Contamination detection follows on second position in terms of market share. The contamination detection by XPS is possible for organic as well as inorganic contaminants. Surface analysis of glasses, composite metals, gases and strongly absorbed liquids are possible by XPS application. Global increase in demand for systems and technologies providing accurate results are further expected to boost the growth of this market.
The key segments analyzed in this study include healthcare, semiconductors, electronics, aerospace and automotives. The healthcare market applications include studying proteins and peptides, cell/bacteria/tissue analysis, characterization of chemicals and antibody immobilization. In the Electronics market, XPS is applied for composition analysis and characterization. In the aerospace, automotive and packaging market application include surface film analysis. The healthcare market is the largest and its dominance is attributed to stringent regulatory authority requirements for minimal medication errors and permissible level of contaminants in healthcare products. Rising healthcare spending by individuals and technological advancement such as hyphenated techniques are augmenting the growth of this segment.
North America dominated the XPS market globally and is expected to retain its dominance over the forecast period. Increasing application of XPS for drug safety and medical research, rising popularity of hyphenated technology, ongoing technological advancements and growing demand for spectroscopy in industrial and environmental industries are anticipated to fuel the growth of this market over the forecast period. In addition, favorable reimbursement frameworks are further likely to drive the market growth over the forecast period. Furthermore, the global XPS market is anticipated to witness higher adoption rate by medical practitioner due to wide array of application and most common surface analysis technique. The European X-ray photoelectron spectroscopy market is also expected to retain its share over the forecast period owing to rising demand for spectroscopy in industrial and environmental industries, supportive reimbursement structure and rising popularity of hyphenated technologies. The Asia Pacific XPS market is expected to grow at the fastest CAGR over the forecast period owing to the large presence of untapped opportunities in the emerging markets of India and China and constantly improving healthcare infrastructure in these markets.
Key market players of X-ray photoelectron spectroscopy are Thermo Fisher Scientific, Kratos Analytical, Evan Analytical Group (EAG), Intertek, V G Scienta, Yokogawa, Kett and Mitsubishi Electric. The market players engage in strategic collaborations in order to gain share and maintain sustainability. For instance, Thermo Fisher Scientific enhanced its XPS instrument enabling cost effective surface analysis in 2014.
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