The X-Ray Photoelectron Spectroscopy Market Which Was USD 176.60 Billion In 2021, Would Rocket Up To USD 301.17 Billion By 2029, And Is Expected To Undergo A CAGR Of 6.90% During The Forecast Period 2022 To 2029.
X Ray Photoelectron Spectroscopy Market Overview:
Increasing global demand for medical research, pure and safe drugs, minimal medication errors, and technological advances are some of the key drivers for the XPS market.
Additionally, government initiatives and support to raise awareness about contamination levels in pharmaceuticals and formulations, R&D, and chemical analysis are expected to propel the growth of the XPS market. US X-ray photoelectron spectroscopy market
Studies by the National Institute of Standards & Technology (NIST), Technical University of Munich (Germany), and ELETTRA (Italy) have favored improved use over other existing approaches that possess the ease of use of XPS.
The Drug Enforcement Agency (DEA), Agency for Health Care Research and Quality (AHRQ), Centers for Disease Control and Prevention (CDC), and FDA emphasize drug safety and use a variety of raw materials and formulations identified using XPS.
Technological advancements including Hard X-ray Photoelectron Spectroscopy (HAXPES) and hyphenated technologies are expected to further strengthen the growth opportunity. Hyphenated technology helps solve complex analytical challenges and improves the applicability of XPS systems.
A few hyphenation techniques available are GC-MS, LC-MS, and LC_NMR. Global growth in XPS applications across various industries, technological advancements in R&D, and government initiatives are the rendering drivers that have a major impact on the industry.
High initial setup costs are likely to act as a barrier to entry for new businesses. The XPS market is expected to be oligopolistic in nature, with a small number of dominant players expected to dominate the market with strong price interdependence.
This situation may lead to an increase in the overall cost of the procedure and is expected to dampen the growth of this market over the forecast period. Emerging countries are expected to face further setbacks due to the additional cost of importing XPS devices.
X Ray Photoelectron Spectroscopy market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global X Ray Photoelectron Spectroscopy market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In April 2022, Shimadzu Scientific Instruments, Inc. and Shimadzu Corporation entered into a strategic partnership to enable pharmaceutical companies to significantly increase the value of scientific data using Tetra R&D, Data Cloud and LabSolutions Software.
- In November 2021, JEOL Ltd. developed and launched a new scanning electron microscope (SEM), the JSM-IT510 series.
- In March 2021, Scienta Sensor Systems acquired Envinet GmbH. Under the unified brand Scienta Envinet, Scienta Sensor Systems and Envinet will jointly develop new applications in environmental protection within Scienta Scientific.
Major Market Segments Covered in X Ray Photoelectron Spectroscopy Industry Research:
Market Key Players:
Mitsubishi Electric, Kett, Thermo Fisher Scientific, Kratos Analytical, V G Scienta, Intertek, And Others.
- Element Detection
- Contamination Detection
- Empirical formula Determination
- Density Estimation
- Environmental Monitoring
North America has dominated the XPS market globally and is expected to maintain its dominance throughout the forecast period. Increasing application of XPS for drug safety and medical research, increasing popularity of hyphenation technology, continuous technological advancements, and increasing demand for spectroscopy in industrial and environmental industries are expected to propel the growth of this market during the forecast period.
Additionally, the favorable reimbursement framework is likely to further contribute to the market growth during the forecast period. Additionally, the global XPS market is expected to witness high adoption rates among healthcare practitioners due to its wide range of applications and most common surface analysis techniques. Europe's X-ray photoelectron spectroscopy market is expected to maintain its share over the forecast period, owing to growing demand for spectroscopy in industrial and environmental industries, support reimbursement structures, and growing popularity of hyphenated technologies.
The Asia-Pacific XPS market is expected to grow at the fastest CAGR during the forecast period due to many untapped opportunities in the emerging markets of India and China and continued improvement in healthcare infrastructure in these markets.
The UK X-ray photoelectron spectroscopy market was valued at USD 27.8 million in 2017. The significant revenue size of the UK XPS market can be attributed to the growing use of technologically advanced XPS systems in orthopedic care. Orthopedic disorders are more prevalent in the older population and a growing geriatric population base in the UK will spur industry growth. For example, according to national statistics, in 2016, 18% of the population was in the 65+ age group. Many of them have bone diseases such as arthritis, which will spur demand for XPS-containing therapies, boosting industry growth.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
X Ray Photoelectron Spectroscopy Market report scope:
CAGR of 6.9% from 2022 to 2030.
Chemical, Environmental Monitoring, Other
Mitsubishi Electric, Kett, Thermo Fisher Scientific, Kratos Analytical, V G Scienta, Intertek
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Crucial Points from this X Ray Photoelectron Spectroscopy Report
- Estimate X Ray Photoelectron Spectroscopy market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the X Ray Photoelectron Spectroscopy market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
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