Growing Demand of Trace Metal Analysis in APAC Region | Environmental Testing Application

The growth of trace metal analysis market is mainly driven by the stringent safety and quality regulations and new international cGMP & cGDP certification for pharmaceutical excipients, increasing spending on life science R&D, advancements in technologies, growing preference to outsource analytical requirements to third-party service providers, increasing demand from applied markets, rising opportunities in emerging countries, and the need to comply with revised USP guidelines.

Trace Metal Analysis Market Dynamics: Impact Analysis

1. Growing Preference to Outsource Analytical Requirements to Third-Party Service Providers
2. Emerging Countries
3. Technological Advancements
4. Increasing Demand From Applied Markets
5. Rising Life Science R&D Expenditure
6. Growing Demand for Speciation Analysis in Trace Metals

The global trace metal analysis market is projected to reach USD 6.9 billion by 2024 from USD 4.4 billion in 2019, at a CAGR of 9.5%.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global Trace Metal Analysis market?
2. What are the drivers, restraints, opportunities, and challenges in the Trace Metal Analysis Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of Trace Metal Analysis in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Environmental Application Segment:

Based on application, the environmental testing segment is expected to account for the largest share of the market in 2019. The large share of this segment can mainly be attributed to increasing R&D investments by major industry players; an increasing number of regulatory actions for controlling environmental and water pollutants, reducing emissions, and minimizing human and environmental exposure to toxic chemicals and wastewater; and the growth of end-user application industries.

ICP-MS Technology Segment:

On the basis of technology, the ICP-MS segment is expected to account for the largest share of the services market in 2019. The large share of the market is mainly due to factors such as the increasing demand for the analysis of a diverse range of sample matrices; growing focus on the identification of low-level contaminants in chemical products; increased stringency of quality assessment and testing in the beverages, foods, cosmetics, and pharmaceutical industries; and the growing demand for metal speciation.

Asia Pacific Region to Dominate The Market:

The trace metal analysis market in APAC is expected to grow at the highest CAGR during the forecast period. This is due to the growing use of trace metal analysis in the food industry, strategic expansion by market players in the Asia Pacific region, emerging biotech industry, increasing focus on soil testing, and the growing food safety and environmental safety concerns in several Asia Pacific countries. The increasing R&D funding, a growing number of CROs, and favorable government initiatives to promote the growth of pharmaceutical and biotechnology industries are some of the other major factors driving the growth of the Asia Pacific market.

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Key Players:

Prominent players in the global trace metal analysis industry are Agilent Technologies (US), Thermo Fisher Scientific (US), PerkinElmer, Inc. (US), Analytik Jena AG (Germany), Bruker Corporation (US), Hitachi Hi-Technologies Corporation (Japan), Rigaku Corporation (Japan), Shimadzu Corporation (Japan), Eurofins Scientific (Luxembourg), Intertek Group PLC (US), SGS S.A. (Switzerland), Bureau Veritas S.A. (France), TÜV SÜD (Germany), and LGC Ltd. (UK).