Atomic Spectroscopy Market Segmentation:
Technology Segment Analysis
The atomic absorption spectroscopy segment is expected to hold over 40% share of the atomic spectroscopy market by 2035. Atomic absorption spectroscopy is comparatively cheaper than other technology and produces great outputs. It has relatively lower capital and operating costs, making it accessible to small laboratories and industries with restricted budgets. Moreover, AAS are well known for their great sensitivity and selectivity in detecting and quantifying trace elements. It can measure the elements at parts per billion (ppb) or even part per trillion (ppt) concentration. This makes it crucial in various fields, including pharmaceutical, environment, and forensic analysis.
Application Segment Analysis
In the year 2035, the pharmaceutical & biotechnology segment in the atomic spectroscopy market is predicted to have a major proportion of roughly 46%. The growing investment in pharmaceuticals is expected to drive the segment’s growth. For instance, in 2021, the total investment in gene therapy was around USD 23 billion, which came in owing to higher collaboration among big pharmaceutical companies across the globe. Atomic spectroscopy can be utilized to monitor the uptake and distribution of therapeutic genes and other elements in gene therapy. Moreover, global R&D spending in the pharmaceutical business was around 238 billion US dollars in 2021. Higher investment will lead to a rise in the number of drug development programs and an expanded pipeline of potential therapies.
Our in-depth analysis of the global atomic spectroscopy market includes the following segments:
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