X-ray photoelectron spectroscopy is a quantitative system that is used for the measurement of empirical formulae, chemical states, and composition of elements within the material that are under investigation. XPS platforms are widely used to determine an array of biomaterials, ceramics, bones, medical implants, inorganic compounds, metals, biomolecules, polymers, and others. In 2014, the global XPS market was worth US$443.5 mn and is estimated to reach a value of US$749.8 mn by the end of 2023. The XPS market is projected to register a healthy 5.80% CAGR between 2015 and 2023.
Elemental Analysis Segment to Exhibit High Growth Rate between 2015 and 2023
The global XPS market can be segmented on the basis of type of analysis into contamination analysis, forensic analysis, elemental analysis, electronic density estimation, and others. Among these, in 2014, the elemental analysis segment dominated the overall market and is expected to remain in the leading position, exhibiting the highest growth rate in the coming years. The high growth of this segment can be attributed to its ability to analyze almost all the elements in the periodic table (except a few such as helium and hydrogen) and application of the analyzed elements in several areas. Elemental analysis is followed by contamination analysis, which held the second largest share in the global market owing to its technique of effective analysis of inorganic as well as organic contaminants so as to ensure effective results of the material in the investigation.
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The global XPS market can be classified on the basis of application into semiconductors and electronics, healthcare, and others. Among these, the healthcare segment is estimated to grow rapidly, exhibiting the highest growth rate in the next few years, owing to the presence of rigid mandates in the medical research field in order to test the effectiveness of the investigative drug molecule so as to ensure the quality and safety standards. Moreover, XPS also offers a detailed analysis of several biomedical implants, biomaterials, and investigation of different cellular components of microbial cells.
Improving Research Infrastructure and Technological Advancements to Drive Global XPS Market
The global XPS market can be divided on the basis of geography into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. In recent years, North America and Europe led the overall XPS market. The U.S. and the U.K. XPS markets are projected to witness rapid growth in the next few years. The Asia Pacific XPS market is also estimated to exhibit a high growth rate in the coming years. The high growth of this region can be attributed to the developing infrastructure and introduction of favorable business rules and regulations in China and India. Moreover, continuous efforts implemented by the major players in order to expand their horizons in emerging countries will fuel the growth of the global XPS market in the near future.
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In addition, the awareness of XPS in developed countries is high compared to developing countries, owing to the presence of well-equipped research infrastructure, presence of skilled workers, and favorable government funds so as to support research and development activities in developing countries.
The global XPS market is highly fragmented owing to the presence of a large number of regional players operating in the market. Nevertheless, the major players in the market are emphasizing on the expansion in developing countries such as Australia, India, and China. Some of the prominent players operating in the global market for X-ray photoelectron spectroscopy are Evans Analytical Group, Kratos Analytical ltd., VG Scienta, Ulvac PHI, Thermo Fisher Scientific, Inc., and Japan Electron Optics Lab.
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