X-ray Photoelectron Spectroscopy (XPS) Market Size Is Increasing Rapidly Globally

X-Ray photoelectron spectroscopy market is likely to cross USD 712.4 million owing to rise in demand for medical research, minimal medication error and technological progress. The market is driven by factors such as rise in government initiatives to create awareness pertaining to contamination level in drugs & formulations coupled with R&D analysis is expected propel the market growth. Rise in government regulations and certifications emphasizing drug safety for various raw materials and formulation are expected to contribute to the X-Ray photoelectron spectroscopy industry in the forthcoming period. However, significant costs of set up for new market entrants are likely to create hindrances in the market growth in the forecast period up to 2025.

X-Ray photoelectron spectroscopy also termed as electron spectroscopy for chemical investigation is widely used to investigate chemical proportion of surfaces. The proliferated use of XPS in investigative laboratories across the globe acts as a problem solving capability of the technique. The capacity to discover the initial atomic layers to assign chemical states to the discovered atoms renders X-Ray photoelectron spectroscopy to be an optimal addition to any analytical theory.

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X-Ray photoelectron spectroscopy market is segmented by use, application, and geography. Use segment dominates the market scenario owing to rise in diverse applicability such as element detection, density estimation, contamination detection and empirical formulation. Element detection accounts for significant market share during the forecast period owing to efficiency and accuracy offered. Contamination detection accounts for second position in the market share due to certain use of XPS for organic as well as inorganic contaminants. Rise in demand for systems & technologies to offer accurate results is additionally likely to contribute to the market growth in the forecast period.

Geographical segmentation for X-Ray photoelectron spectroscopy industry spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America X-Ray photoelectron spectroscopy market is expected to dominate the global market scenario owing to rise in application for XPS for medical research, existing technological evolution.

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Favorable reimbursement is another factor adding to the X-Ray photoelectron spectroscopy market growth in the forecast period. Asia-Pacific’s X-Ray photoelectron spectroscopy industry is likely to contribute to the market growth due to wide presence of manufacturers and availability of favorable market conditions. The key players in the X-Ray photoelectron spectroscopy market include Thermo Fisher Scientific, Kratos Analytical, Evan Analytical Group (EAG), Intertek, V G Scienta, Yokogawa, Kett and Mitsubishi Electric.