Albany, NY -- (ReleaseWire) -- 07/09/2014 -- Spectroscopy can be defined as the study of interaction between absorption and emission of light and radiation by material substance. Spectroscopy involves interaction of electron, proton and ions. Atomic spectroscopy involves the determination of elemental composition with the utilization of mass or electromagnetic spectrum. There are three techniques involved in the determination process of atomic spectroscopy namely atomic absorption, atomic emission and atomic fluorescence.
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When a light of sufficient wavelength comes in contact with an atom, the atom will absorb the light as it enters in an excited state is the principle involved in atomic absorption. Likewise, atomic fluorescence involves the combination of atomic absorption and atomic emission. In recent times atomic spectroscopy is widely utilized in food industries, pharmaceutical industries, for diagnostic purpose and research laboratories worldwide.
The global market for atomic spectroscopy can be segmented as follows:
X-Ray fluorescence spectroscopy
Atomic absorption spectroscopy
X-Ray diffraction spectroscopy
Inductively coupled plasma (ICP) spectroscopy
Inductively coupled plasma mass spectroscopy (ICP-MS)
Food and beverage testing
The X-ray fluorescence technology is widely utilized as an analytical tool for various quality control purposes in research and pharmaceutical industries owing to its speed and economy, possibility to directly analyze solid samples and automation properties.
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Thus, X-ray fluorescence technology covers a major market share of the global atomic spectroscopy technology market. Moreover, increasing demand of food quality, effective diagnostic test in the global market also accentuates the demand of atomic spectroscopy technologies. X-ray fluorescence is a common technique which is widely utilized in almost all kind of medical research and also it is considered as a basic tool in biomedical research. Thus, with growing utilization of X-ray fluorescence technique the global market for atomic spectroscopy will also increase.
The market is driven by many inflowing drivers, such as, rapid growth in the penetration of technology in the R&D field of various sectors, increased demand for hyper-sophisticated analytical instrument by various global research organizations, enhanced governmental support for research purposes, increased emphasis by pharmaceutical and chemical organizations on the discovery of newer molecules, frequent rise in international standards for food and drug safety enforces the use of hyper-sophisticated equipment in the industry. Rapid growth in R&D practices is considered as the most important driver of the market growth. For instance, according to the European Federation of Pharmaceutical Industries and Association (EFPIA), the total R&D expenditure by pharmaceutical companies in EU27 countries was around USD 41,000 million, in the year 2012. Furthermore, due to enhanced penetration of technology the demand for advanced equipment is increasing rapidly. On the other hand, major restraints include huge expenditure for initial set-up and instrumentation, high cost of maintenance, need of technically well skilled personnel and limited awareness in many countries of the world. Initial cost is the biggest hurdle in the market growth. For instance, the basic instrument of UV-Visible spectroscopy (the easiest and used method) costs around USD 5,000 to 14,000.
Geographically, North America dominates the global market of atomic spectroscopy due to increasing demand of atomic spectroscopy applications and extensive technological advancements in this region. North America was observed to be the largest atomic spectroscopy market due to major market players are based in this region. Europe is the second largest atomic spectroscopy market followed by Asia-Pacific and Rest of the World. Asia -Pacific is considered as an emerging market in the global atomic spectroscopy because huge growth opportunities are expected from Indian and Chinese market during the study period. However it is expected that Asia-Pacific would be accounting for a significant market share of the global market in future. This is due to most of the manufacturers of atomic spectroscopy make up their mind to invest a large amount in R&D to record high revenue from these promising markets.
Some of the market players contributing the global market share of atomic spectroscopy market includes Agilent Technologies, Aurora Biomed, Bruker Corporation, Analytik Jena Ag, GBC Scientific Equipment Pty Ltd., Perkinelmer, Inc., Hitachi High-Technologies Corporation, Rigaku Corporation, Shimadzu Corporation and Thermo Fisher Scientific, Inc.
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