Global x-ray photoelectron spectroscopy (XPS) market would surpass a valuation of $958.7 million by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the X-Ray Photoelectron Spectroscopy market based on type, application and region.
X-ray photoelectron spectroscopy, also called Electron Spectroscopy for Chemical Analysis (ESCA) is a quantifiable procedure that is capable of recognizing chemical configurations of surfaces. The XPS utilizes photoelectric effect that is generated by the x-rays to carry out this process.
The electrons emitted by a sample surface during the XPS process contains data pertaining to the atomic composition, electronic structure, morphology, and chemical oxidation state of all the chemicals present on the given sample surface.
Increasing demand for pure and safe drugs, technological advancements, minimal medication errors, as well as advanced medical research are some of the most prominent factors behind x-ray photoelectron spectroscopy market growth.
Moreover, government initiatives and support that generate awareness regarding the level of contamination in medications, its formulations, chemical scrutiny, and research & development further fuel x-ray photoelectron spectroscopy market growth over the coming years.
While XPS is extremely vital for studying interfacial phenomena that occurs at the margins of solids and gases, the lack of expert assets would impede XPS market growth in forthcoming years. Additionally, the rapid rate at which technological advancements are taking place and sophisticated products are being introduced is expected to adversely affect market growth.
The global XPS market is segmented on the basis of application, geography, and analysis type. From a regional perspective, North America has dominated the global XPS market over the past few years, the region is further projected to retain its dominant position over the forecast timeframe, cites the report.
Growing use of XPS in medical and drug safety research, increasing prominence of hyphenated technology, rising demand for spectroscopy in environmental and industrial sectors, and ongoing technological advancements are expected to drive North America XPS market over the coming years.
However, the Asia Pacific is slated to emerge as a dominant XPS market segment over the coming years. The regional contribution would be fueled, in part, by the region’s emerging economies like India and China and the rapidly developing healthcare infrastructure of several other countries across the APAC.
Based on analysis type, the x-ray photoelectron spectroscopy market is divided into four segments; namely contamination detection, element detection, empirical formula determination, and density estimation. Back in 2017, element detection was expected to lead the market, owing to a range of applications in the field of spectroscopy.
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On application basis, the global XPS market is segmented into semiconductors, electronics, healthcare, automotive, and aerospace. In 2017, the healthcare segment was projected to emerge as a dominant segment in the global XPS market.
The healthcare industry’s prominence is attributed to the presence of a strict regulatory landscape, minimal drug errors, as well as the insignificant number of contaminants that are present in healthcare products. Additionally, growing healthcare expenditure and technological advancements like hyphenated methods would further boost market growth over the coming years, cites the study.
The prominent players in the x-ray photoelectron spectroscopy market are Scientica Omicron, ThermoFisher Scientific, ReVera Incorporated, ULVAC Technologies, Inc., STAIB Instruments, EOL Ltd, Evan Analytical Group (EAG), Kratos Analytical Ltd, Mitsubishi Electric, and Intertek among others.
The new report enlists exhaustive details regarding the global x-ray photoelectron spectroscopy market, giving insights into its drivers, opportunities, and restraints along with present market scenarios and future trends. A brief overview highlighting key industry trends, Porter’s five forces, PEST analysis, competitive ranking analysis, ecosystem analysis, and value chain has also been included in the research report.