X-Ray Photoelectron Spectroscopy Market
X-Ray Photoelectron Spectroscopy Market (Analysis- Forensic, Contamination, Elemental Analysis, Electronic Density Estimation and Others; Application - Healthcare, Semiconductors & Electronics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
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X-Ray Photoelectron Spectroscopy Market - Snapshot
X-ray photoelectron spectroscopy (XPS) refers to a quantitative technique that is utilized for the measurement of elemental composition of a material’s surface. This device also ascertains binding states of the elements. X-ray photoelectron spectroscopy usually probes up to a depth of 10 nm.
The global X-Ray photoelectron spectroscopy market is likely to be driven by the rising demand for minimal error in medication, safe and pure drugs, technological advancement, and medical research. In addition to that, numerous government initiatives creating awareness regarding level of contamination in drugs and formulations together with chemical analysis and research and development is expected to bolster growth of the global X-Ray photoelectron spectroscopy market in near future.
Demand for the Product to Rise due to its Increased Adoption in Drug Discovery
The rising application of rising application of this technology in the medical field is likely to amplify growth opportunities for the market in the years to come. X-Ray photoelectron spectroscopy is widely used in the plasma treatment of various medical textiles, which is expected to bolster the growth of the global X-Ray photoelectron spectroscopy market. Plasma treatment comprises repairing of damages in tissues at the time of injury or surgery.
Implantation of artificial mesh needs betterment of surface properties, which is done by advanced X-Ray photoelectron spectroscopy technology. This technology also betters the quality of implantation material and helps in the reduction of possibility of infections of surgical sites. This factor is expected to bolster the adoption rate of this technology in the near future.
X-Ray photoelectron spectroscopy technology is witnessing increased demand in the in the research and development activities of drug discovery. These drugs need analysis of biological and chemical synthetic compounds for its development.
Wide use of these devices for the purpose of manufacturing of various commercial products is expected to drive the global X-Ray photoelectron spectroscopy market in the years to come. Furthermore, X-ray photoelectron spectroscopy devices are utilized in the characterization of nano particles.
Global X-Ray Photo Electron Spectroscopy Market: Snapshot
The X-ray photoelectron spectroscopy market is likely to grow at a healthy pace with the rise in the research activities in the medical sector. The increasing number of players and the rising investments to introduce safe and pure drugs are further projected to ensure the development of the market in the coming years. As per the research report given by TMR, in 2014, the global market for X-ray photoelectron spectroscopy was worth US$443.5 mn and is expected to reach US$749.8 mn by the end of 2023. Furthermore, the market is predicted to exhibit a 5.80% CAGR between 2015 and 2023.
Rising Medical Research Projected to Propel X-ray Photoelectron Spectroscopy Market
The rising demand for effective drugs and minimal medication error is expected to encourage the growth of the global X-ray photoelectron spectroscopy market in the next few years. Innovations and technological advancements in this field are further projected to ensure the market development over the next few years. In addition to this, the rising consumer awareness regarding the increasing contamination levels in formulations and drugs and the growing number of initiatives from Governments are projected to accelerate the growth of the x-ray photoelectron spectroscopy market across the globe.
Furthermore, the development of new materials and compounds and the enhancement of the performance of the existing materials are some of the other major factors that are estimated to support the market development in the coming years. On the other hand, the X-ray photoelectron spectroscopy only analyzes the surface chemistry of the samples, which is likely to restrict the growth of the overall market in the next few years. Also, the lack of skilled personnel is estimated to further curb the market growth in the near future.
Europe and North America to Hold Major Share of X-ray Photoelectron Spectroscopy Market
The global market for X-ray photoelectron spectroscopy has been classified on the basis of geography into five different segments. Among these, Europe and North America are expected to hold a key share of the market over the next few years, thanks to the high level of awareness among people related to X-ray photoelectron spectroscopy. In addition to this, the presence of several advanced and well-equipped research labs is another key factor that is estimated to ensure the development of the market in the coming years. The Asia Pacific market is expected to witness a high growth in the next few years, thanks to the rapid development of the infrastructure and the rising contribution from China and India. Also, the growing focus of the players on developing economies as they hold immense growth opportunities is expected to ensure the growth of the Asia Pacific market in the coming years.
A present, the X-ray photoelectron spectroscopy market is competitive in nature with a huge number of players engaged across the globe. The key players in the market are emphasizing on the research and development activities, which is likely to encourage the growth of the overall market in the next few years. Technological developments and innovations in this field are expected to support the market growth in the next few years. Some of the key players in the X-ray photoelectron spectroscopy market across the globe are Kratos Analytical Ltd., ULVAC-PHI, Japan Electron Optics (JEOL) Ltd., Thermo Fisher Scientific, and Evans Analytical Group LLC.
Rising Demand from Various Applications to Influence the Growth of the X-Ray Photoelectron Spectroscopy Market
The X-ray photoelectron spectroscopy market is anticipated to gain good growth opportunities across the assessment period of 2015-2023. The rising awareness about the minimization of errors in drugs and medications will bring extensive growth prospects for the X-ray photoelectron spectroscopy market. The benefits associated with X-ray photoelectron spectroscopy will further add extra stars of growth.
- X-ray photoelectron spectroscopy devices are used extensively for the characterization of nanoparticles. Perfect element detection by these devices will bring tremendous growth opportunities during the forecast period of 2015-2023. Various government initiatives and campaigns designed by government and non-government organizations to generate awareness about the contamination levels in formulations and drugs will invite considerable growth prospects for the X-ray photoelectron spectroscopy market.
- The technological advancements observed across the X-ray photoelectron spectroscopy market will further lay a red carpet of growth. The rising focus of the players on the research and development activities will help in increasing their revenues, eventually leading to escalating growth rate. The overwhelming utilization of X-ray photoelectron spectroscopy devices across developing and densely-populated countries like India and China will bring exponential growth prospects.
- Favorable reimbursement policies and maximizing spends on the healthcare infrastructure by the government bodies of various countries will serve as a growth-boosting factor for the X-ray photoelectron spectroscopy market. The presence of professionals and the training given to healthcare practitioners for operating the devices will prove to be a prominent growth generator for the X-ray photoelectron spectroscopy market.
- The novel coronavirus pandemic has a negative impact on the growth of the X-ray photoelectron spectroscopy market. The stringent lockdown measures led to supply chain disruptions. These aspects had a profound impact on the growth of the X-ray photoelectron spectroscopy market. However, the relaxation in lockdown measures will serve as a relief for the players in the X-ray photoelectron spectroscopy market.
This report on global X-ray photoelectron spectroscopy (XPS) market analyzes the current and future prospects of the XPS technology worldwide. The stakeholders of this report include companies engaged in production and marketing of XPS systems across the globe. This report encompasses an elaborate executive summary, with a market snapshot that provides overall information of major market segments and sub-segments included in the study scope. This section also provides the overall information and data analysis of the market with respect to the leading market segments based on analysis and major application areas.
The global market has been segmented on the basis of analysis, application, and geography. The analysis segment has been further segmented into forensic analysis, contamination analysis, elemental analysis, electronic density estimation, and others. XPS market finds application majorly in healthcare, semiconductor and electronics and other industries. Increasing use of XPS technology in medical and pharmaceutical research for determination of drug safety and efficiency in conjunction with increasing support from respective nation’s government to promote awareness about these technology platforms ensure lucrative growth opportunity for this market. Application of XPS technology in healthcare industry is anticipated to record highest growth rate during the coming years. Geographically, global XPS market has been further categorized into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America dominated the global market in terms of market share and is expected to retain its position throughout next few years. This is majorly attributed to increasing preference for the use of high end technological platforms coupled with increased awareness levels of people with respect to their health, lifestyle and environment. The market for each of these segment has been analyzed on the basis of various market dynamics such as technological advances, its advantages and increasing use of the innovative techniques in many research activities. Market revenue in terms of US$ Mn for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year.
The market overview section of this report explores market dynamics such as drivers, restraints, and opportunities that have predominant impact on this market at present and could influence the market in the future as well. The market attractiveness analysis has been provided in the market overview section in order to elucidate the intensity of competition in the market in different LATAM countries. Porter’s five forces analysis is also explained in this section to understand the XPS market considering different parameters that have an impact on the sustainability of the companies operating in this market. The competitive scenario between different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their shares worldwide.
The report also profiles major players in the XPS market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Some of the major players profiled in this report include Thermo Fisher Scientific, Kratos Analytical, Japan Electron Optics Lab (JOEL), and Evans Analytical Group (EAG) among others. Rigorous research and development initiatives by the leading market players as well as execution of unique marketing strategies to increase the accessibility and affordability towards these technologies are supporting the XPS market growth globally. The global XPS market is influenced by the presence of large regional players and predominant in developed economies as compared to other developing economies. However, these companies are focusing on expansion in emerging economies especially in countries like India, China and Australia.
The global X-ray Photoelectron Spectroscopy market is segmented into the following categories:
- X-Ray Photoelectron Spectroscopy Market By Analysis
- Forensic Analysis
- Contamination Analysis
- Elemental Analysis
- Electronic Density Estimation
- By Application
- Semiconductors & Electronics
- By Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa