Pune, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The global trace metal analysis market reach USD 6.34 Billion in 2022 and is expected to exhibit a CAGR of 8.45% over the forecast period 2023 to 2032, according to a recent global market study by Quince Market Insights. Trace metals can be harmful for human intake and application in a variety of final products. The Trace Metal Analysis aids in the identification and detection of low quantities of metal in a sample, which is crucial for the development of new products as well as for regulatory compliance and quality control. Finding the smallest number of metals in the sample allows for the differentiation of impurities and provides details on the formation process and method improvement of the clinical product.
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The strict safety and quality regulations, new international cGMP & cGDP certification for pharmaceutical excipients, rising life science R&D spending, technological advancements, a growing preference to outsource analytical requirements to third-party service providers, rising demand from applied markets, expanding market opportunities in emerging nations, and the requirement to adhere to updated USP guidelines are the main factors driving the growth of this market.
Trace metal analysis, by Technology Instrument
The technology instrument segment is divided into Atomic Absorption Spectroscopy, X-Ray Fluorescence, ICP-MS.
The ICP-MS segment is account for the highest market share. Due to a number of factors, including the rising demand for metal speciation, the analysis of a wide variety of sample matrices, the focus on identifying low-level contaminants in chemical products, the stricter standards for quality assessment and testing in the beverage, food, cosmetic, and pharmaceutical industries, and more.
Trace metal analysis, by Service
The service segment is divided into FAAS, ICP-OES.
The Inductively Coupled Plasma-Optical Emission Spectroscopy segment accounted for the highest share in the market. It helps to take more regulatory actions are being taken to reduce emissions, manage environmental and water pollutants, and limit the exposure of humans and the environment to hazardous chemicals and wastewater.
Trace metal analysis, by Application
The application segment is divided into Food & Beverage, Pharmaceutical & Biotechnology, Environmental Testing.
The environmental testing is expected for the highest share in the market. environmental testing ascribed to rising R&D expenditures by significant industry participants, an increase in regulatory activities to regulate environmental and water pollutants, cut emissions, and reduce exposure to hazardous substances and wastewater, as well as the expansion of end-user application industries.
Trace metal analysis, based on Regional Analysis
The region segment includes major regions such as Asia Pacific, Middle East & Africa, North America, Europe, and South America.
The highest market share for Trace metal analysis market worldwide is held by Asia Pacific region. The use of trace metal analysis in the food industry is expanding, market players in the Asia Pacific region are strategically expanding, the biotech industry is emerging, soil testing is becoming more important, and there are growing concerns about food safety and environmental safety in several Asia Pacific nations. Other significant factors contributing to the expansion of the Asia Pacific market include rising R&D spending, an increase in CROs, and favourable government policies to support the growth of the pharmaceutical and biotechnology industries.
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Recent development in the Global Trace metal analysis Market
- In 2020, Thermo Fisher Scientific, a leading provider of medical equipment, has introduced the brand-new iCAP PRO Series of ICP-OES instruments for use in pharmaceutical, environmental, industrial, and food & beverage testing. The new technologies can identify trace elements in samples with high matrix, maintaining product quality, security, and consistency.
- In 2018, TestAmerica Laboratories, Inc. was bought by Eurofins Scientific (US). With this acquisition, the company's environmental testing operations in the US were enhanced and expanded to include wet chemistry, specialized and trace organics testing, as well as metals and inorganics testing for the trace metal analysis market.
- In 2018, To address recurring and newly developing pollutants in water, Agilent Technologies teamed up with Singapore's Nanyang Environment and Water Research Institute (NEWRI).
Some key Points of the Trace Metal Analysis Market Report are:
- An in-depth global trace metal analysis market analysis by the segments, along with an analysis of trend-based insights and factors.
- Major companies operating in the global trace metal analysis market, which include Thermo Fisher Scientific (US), Agilent Technologies (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).
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global Trace metal analysis market.
- Impact of COVID-19 on the global Trace metal analysis market
Directly Purchase "Single User License" of Trace Metal Analysis Market Growth Report (2023-2032) at: https://www.quincemarketinsights.com/insight/buy-now/trace-metal-analysis-market/single_user_license
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