New International GMP & GDP Certification for Pharmaceutical Excipients Drive Elemental Analysis Market

The elemental analysis market is expected to reach $6.213 Billion in 2020 from $4.584 Billion in 2015, growing at a CAGR of 6.3%. The market is expected to be dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Asia is expected to grow at the highest rate during the forecast period.

Elemental analysis helps in quantitative and qualitative identification of various elements in different application areas such as life sciences, food and beverage testing, environment testing, geology, cosmetics testing, and petroleum. The technologies used for elemental analysis depend on the sample to be analyzed. The technologies predominantly used for elemental analysis are Inductively Coupled Plasma Spectrometry, Inductively Coupled Plasma-Mass Spectrometry (ICP-MS), Inductively Coupled Plasma-Optical Emission Spectrometry (ICP-OES), X-ray Diffraction (XRD), and X-ray Fluorescence (XRF). Both organic and inorganic elements can be identified using these technologies.

The global market is segmented on the basis of types, technologies, and applications. By type, the market is categorized into organic elemental analysis and inorganic elemental analysis. In 2015, the inorganic elemental analysis segment is estimated to account for the larger share of the market. This segment is expected to grow at the higher rate during the forecast period.

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The key factors that are expected to spur the growth of this market are the increasing use of X-ray fluorescence in medical research, growing food safety concerns, and increasing life science R&D spending. Moreover, emerging nations of India and China, increasing demand from applied markets, and requirement to comply with the revised chapter 231 of the U.S. Pharmacopeia are likely to create opportunities for elemental analyzers. However, high cost of elemental analysis equipment is likely to pose as a restraint for the growth of this market. Need for highly skilled professionals acts as a challenge in the global market.

Some of the major players in the global market include Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer, Inc. (U.S.), AMETEK, Inc. (U.S.), Bruker Corporation (U.S.), HORIBA, Ltd. (Japan), Shimadzu Corporation (Japan), Rigaku Corporation (Japan), Analytik Jena AG (Germany), and Elementar Group (Germany).

Source: The United States Pharmacopeia (USP), Centers for Disease Control and Prevention (CDC), the Food Safety Authority of Ireland (FSAI), World Health Organization (WHO), USDA Foreign Agricultural Service (FAS), Chamber of Mines of South Africa (COMSA), World Bank, National University of Singapore (NUS), the Solid State and Elemental Analysis Unit (SSEAU), ASTM International, US Environmental Protection Agency (US EPA), Expert Interviews, and MarketsandMarkets Analysis

Growth in the Home Healthcare Market Driving the Demand for Miniaturized Connectors

The high incidence and prevalence of chronic disorders, rise in healthcare expenditure, and growth in the home healthcare market are the major factors fueling the growth of this market.

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The market is segmented into four major regions North America, Europe, Asia, and the Rest of the World. In 2016, North America accounted for the largest share of the market, followed by Europe. North America will continue to dominate the market in the forecast period due to the availability of reimbursement for several surgeries and increasing prevalence of chronic disorders in the region. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.

Market Drivers
•Growth in the Medical Devices Market
•Growth in the Home Healthcare Market Driving the Demand for Miniaturized Connectors

Market Restraints
•Growing Demand for Wireless Connectivity
•Stringent Regulatory Standards

Market Opportunity
•Untapped Emerging Markets

Market Trend
•Hybrid Connectors

Key players in the market include Amphenol Corporation (U.S.), Delphi Automotive LLP. (U.K.), Esterline Corporation (U.S.), ITT Corporation (U.S.), Smiths Interconnect (U.K.), TE Connectivity Ltd. (Switzerland), Fisher Connectors (Switzerland), Lemo S.A. (Switzerland), Molex (U.S.), and Samtec (U.S.).

There is Growing Awareness and Industry Initiatives for Radiation Dose Management

This market is mainly driven by the increasing needs to cut radiation dose levels causing chronic diseases, need for regulatory compliance, and need for improved patient safety and for accurate and reliable systems to manage critical radiation dose levels and information. Moreover, the safe and ensured environment through radiation dose management systems results in a streamlined workflow, thus increasing the operational efficiency and quality of healthcare organizations.

The global radiation dose management market is estimated to grow at a CAGR of 42.0% from 2017 to 2022, to reach USD 931.3 Million by 2022 from USD 161.3 Million in 2017.

However, lack of funding and lack of standardized protocols for radiation dose management are expected to restrain the growth of this market to a certain extent in the developing regions.

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Geographically, the global market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2017, North America accounted for the largest share of the global radiation dose management market, followed by Europe, Asia-Pacific, and RoW. This is due to the presence of a large number of hospitals and health systems, changing regulations, increasing accreditation requirements, and the increasing need to curtail the soaring healthcare costs.

The key players in the radiation dose management market are Bayer AG (Germany), GE Healthcare (U.S.), PACSHealth LLC (U.S.), Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Novarad Corporation (U.S.), Siemens Healthineers (Germany), AGFA Healthcare (Belgium), Sectra AB (Sweden), QAELUM N.V. (Belgium), Bracco Imaging S.p.A. (Italy), and Medsquare (France).

Key players in the radiation dose management market are pursuing several organic and inorganic growth strategies such as product launches & upgrades, partnerships, collaborations & agreements, acquisitions, and expansions to garner larger shares in the market.