The total reflection X-ray fluorescence spectrometer market is expected to register a CAGR of 5.5% during the forecast period. This is attributing to technological advancements, wide usage of these spectrometers in various sectors, and the rapid increase in the global disease burden.
- These spectrometers are widely used in pharmaceutical, food industries, and environment monitoring for trace element analysis, which promotes the growth of the total reflection X-ray fluorescence spectrometer market.
- Moreover, the increasing use of spectrometers in a tablet formulation to examine the contaminants externally and internally both and the rise in demand for better quality control have been propelling the market growth to a certain extent.
Key Market Trends
Based on Application, Environment Monitoring is Expected to Witness a Healthy Growth in Future
Environment monitoring is expected to witness a healthy growth rate, attributing to its increasing R&D expenditure worldwide, thereby, leading to the increasing number of regulatory actions for controlling environmental and water pollutants, reducing emissions, and minimizing environmental exposure to toxic chemicals and wastewater in which these spectrometers are used. Moreover, TXRF is widely used for environmental monitoring and testing purposes for tracing elements through total reflection X-ray fluorescence spectrometers, which result in promoting the segment growth.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global total reflection X-ray fluorescence spectrometer market, due to the high adoption of TXRF spectrometers in the field of food industries, pharmaceutical industries, and environment monitoring and increasing burden of thyroid gland diseases where in this spectrometer are used for diagnosing and assessing the toxic metals in the blood samples. Moreover, the increasing healthcare expenditure and the presence of well-established healthcare infrastructure have been promoting the growth of the overall market.
The total reflection X-ray fluorescence spectrometer market is moderately competitive. In terms of market share, few of the major players have been currently dominating the market. Some of the companies that are currently dominating the market studied are Rigaku, Bruker, EAG Inc., SPECTRO Analytical Instruments, Spectris, Horiba, G.N.R - Analytical Instruments Group, and Thermo Fisher Scientific, among others.
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