Elemental Analysis Market Reaches US$ 2.65 Billion by 2030

Elemental Analysis Market Snapshot

“From 2023 to 2030, the Elemental Analysis Market is estimated to develop at a 6.15% CAGR. It is projected to grow to more than USD 2.65 billion by 2030, up from USD 1.53 billion in 2023.”

A technique called elemental analysis is used to locate and count the elements in a sample. It can be used to determine the amounts of various elements present in a range of substances, including soils, plants, rocks, minerals, metals, and other things.

Elemental analysis is a technique that can be used to study the composition of materials, assess their purity, and pinpoint trace components. Elements can be analyzed using a variety of methods, including atomic absorption spectrometry, X-ray fluorescence, and inductively coupled plasma mass spectrometry.

Major market drivers include new international GMP and GDP certification called "EXCiPACT" for pharmaceutical excipients in North America and Europe, rising food safety concerns, rising life science R&D spending, expanding use of X-ray fluorescence in medical research, and growing use of Atomic Absorption Spectroscopy (AAS) to support the drug safety process.

Due to these developments, inductively coupled plasma spectrometry (ICP), inductively coupled plasma mass spectrometry (ICP-MS), and atomic absorption spectrometry (AAS) have all been developed.

Additionally, prospects for market expansion are probably going to be brought about by the rising markets in China and India, the rise in application market demand, and the need to adhere to the updated Chapter 231 of the US Pharmacopoeia.

One of the key factors propelling the growth of the elemental analyzer market is the rising need for the analysis of solid materials' elemental composition. Inorganic and organic compounds can be analyzed by elemental analyzers, and they can produce accurate results.

Elemental analyzers are user-friendly since they can simultaneously determine Sulphur and Carbon. The need for elemental analyzers is rising as a result of the need to determine the elemental composition of materials in sectors such as the construction, mining, petrochemical, and pharmaceutical industries.

But during the anticipated term, a shortage of skilled labor is anticipated to constrain the market. Since the workforce in many developing and undeveloped nations lack the technical expertise to operate modern equipment, elemental analysis is often conducted using older instruments.

Consequently, many manufacturers in these nations run training programs. However, there is still a sizable gap between the demand and availability of workers who can operate devices for elemental analysis.

The growing need for elemental analysis in emerging industries like renewable energy, nanotechnology, and biotechnology is one of the major opportunities in the elemental analysis market.

Market expansion is being driven by the demand for sophisticated elemental analysis techniques to assist R&D, quality control, and process optimization efforts. Additionally, the use of elemental analysis in mining, forensic sciences, and geological exploration offers strong commercial opportunities.

Also, the COVID-19 epidemic had a big effect on the market for elemental analysis. In the case of COVID-19 patients, the body contained abnormally high levels of trace elements, and the respiratory system was in danger of infection due to of the blood's increased levels of heavy metals.

For instance, according to the study report that was published by the American Journal of Analytical Chemistry in May 2021, the elemental analysis in COVID-19 patients was carried out using atomic absorption (AA) spectrophotometer. This analysis revealed that COVID-19 patients have abnormal levels of toxic elements (cadmium and nickel) compared to essential trace metals (zinc, iron, and copper) in the biological samples.

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Market Trends

• The global elemental analysis market is expected to grow due to increased use of X-ray fluorescence in clinical research, rising food safety concerns, and high R&D spending in life sciences.
• The technology's wide applications across various industries are expected to drive growth, with developing economies like China and India driving the market.
• The global elemental analysis market is expected to experience growth in the inorganic elemental analysis segment, which uses various analytical techniques to determine the inorganic and elemental composition of various substances.
• This segment is expected to expand due to the release of new, high-tech products, which include metals, cations, anions, and inorganic salts. 

Elemental Analysis Market Segment Analysis

Organic, inorganic, and trace metal elements are only a few of the many elements that elemental analyzers can find. The quantitative and qualitative estimate of organic compounds, including carbon, hydrogen, nitrogen, and sulfur among others, is known as organic elemental analysis.

Given that they are the most fundamental substances present in every sample, estimation of these substances in medications is uncommon. Throughout the anticipated time, it's estimated that the market for organic element estimation will continue to expand steadily.

Numerous analytical techniques are used in inorganic elemental analysis to evaluate the inorganic and elemental composition of solids, liquids, aqueous solutions, chemical mixes, materials, or products. Cations, metals, anions, and inorganic salts are examples of inorganic components.

They are also used to qualitatively and quantitatively estimate the presence of heavy metals and to look for catalyst traces in samples. Markets for organic and inorganic elements are divided based on the sorts of elements they contain.

By type, inorganic elements had the biggest market share in 2022 and are projected to expand at the quickest rate throughout the projection period.

The market for elemental analysis can be divided into destructive and non-destructive technologies based on the type of technology being employed. In terms of technology, nondestructive technologies had the biggest proportion in 2022.

Additionally, during the projected period, this sector is anticipated to increase at the fastest rate. The highest proportion of this segment is mostly attributable to the sample's retention, high accuracy, and technological developments.

Elemental Analysis Market Competitors

The elemental analysis market key Competitors include Thermo Fisher Scientific, Inc., Perkinelmer, Inc., Agilent Technologies, Inc., Bruker Corporation, Ametek, Inc., Horiba, Ltd, Rigaku Corporation, Shimadzu Corporation, Analytik Jena AG, Elementar Group.

New Developments

29 March 2023: Thermo Fisher Scientific, the world leader in serving science, and Arsenal Biosciences, Inc. (ArsenalBio), a clinical-stage cell therapy company engineering advanced chimeric antigen receptor (CAR)-T cell therapies for solid tumors, announced an update to our strategic collaboration to further the development of manufacturing processes for new cancer treatments.

07 March 2023: Thermo Fisher Scientific was provided proteomics and biopharmaceutical research laboratories with a new line of low-flow HPLC columns that improve separation performance and stability of biologically complex samples.

March 07, 2023 Agilent Wins Two Scientists' Choice Awards for Drug Discovery & Development

Agilent Technologies Inc. has received two 2023 Scientists’ Choice Awards; Best New Drug Discovery & Development Product of 2022, and Drug Discovery & Development Webinar of the Year. Announced at the SLAS2023 International Conference & Exhibition on February 27th, 2023, the Scientists’ Choice Awards recognize the world’s most innovative and effective analytical science technologies and communications.

In July 2022, SPECTRO Analytical Instruments launched the SPECTROMAXx LMX10 arc/spark OES analyzer for elemental analysis in metal-producing and fabricating plants and iron and non-ferrous foundries. The LMX10 has new advancements, including complete new factory calibrations, extended calibration ranges and element selections, optimized source excitation parameters, and improved limits of detection (LODs).

In May 2022, Analytik Jena offered optimal solutions for routine drinking water analysis requirements with its ICP-MS devices (inductively coupled plasma mass spectrometer). The ICP-MS systems of the PlasmaQuant MS series can analyze 60 drinking water samples per hour for 21 elements with an average standard deviation of only 1.5%.

Elemental Analysis Market Regional Outlook

In 2022, North America held a 41% sales share, dominating the market. The USP guidelines and limits for elements in pharmaceutical compounds, the expansion of elemental analysis applications in healthcare, upcoming regulations requiring elemental analysis of finished medical products, and increased research into the creation of technologically advanced elemental analyzers are some of the major drivers of North America's market share.

While the CAGR for growth in Asia Pacific is anticipated to be the fastest during the forecast period. The market is anticipated to grow during the forecast period due to factors such as rising awareness about the safety of pharmaceuticals, an increase in conferences and meetings in Asia Pacific, and an increase in the interest of manufacturers of key elemental analysis products to establish subsidiaries in the region. As a result, North America dominates the elemental analysis market.

Key Market Segments: Elemental Analysis Market

Elemental Analysis Market by Type of Element

• Organic
• Inorganic

Elemental Analysis Market by Technology

• Destructive Technologies
• Non Destructive Technologies

The above information has been provided for the following regions and countries

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Italy
• Russia

Asia Pacific

• China
• India
• Japan
• South Korea

Latin America

• Brazil
• Mexico

MEA

• UAE
• Saudi Arabia
• South Africa

Frequently Asked Questions

What is the worth of the elemental analysis market?

From 2023 to 2030, the Elemental Analysis Market is estimated to develop at a 6.15% CAGR. It is projected to grow to more than USD 2.65 billion by 2030, up from USD 1.53 billion in 2023.

What is the size of the North American elemental analysis industry?

North America held more than 41 % of the elemental analysis market revenue share in 2022 and will witness expansion in the forecast period.

What are some of the market's driving forces?

Major market drivers include new international GMP and GDP certification called "EXCiPACT" for pharmaceutical excipients in North America and Europe, rising food safety concerns, rising life science R&D spending, expanding use of X-ray fluorescence in medical research, and growing use of Atomic Absorption Spectroscopy (AAS) to support the drug safety process. Due to these developments, inductively coupled plasma spectrometry (ICP), inductively coupled plasma mass spectrometry (ICP-MS), and atomic absorption spectrometry (AAS) have all been developed.

Which are the top companies to hold the market share in elemental analysis market?

The elemental analysis market key players include Thermo Fisher Scientific, Inc., Perkinelmer, Inc., Agilent Technologies, Inc., Bruker Corporation, Ametek, Inc., Horiba, Ltd, Rigaku Corporation, Shimadzu Corporation, Analytik Jena AG, Elementar Group.

Which is the largest regional market for elemental analysis market?

In 2022, North America held a 41% sales share, dominating the market. The USP guidelines and limits for elements in pharmaceutical compounds, the expansion of elemental analysis applications in healthcare, upcoming regulations requiring elemental analysis of finished medical products, and increased research into the creation of technologically advanced elemental analyzers are some of the major drivers of North America's market share.