Atomic spectroscopy market includes Atomic Absorption Spectroscopy, X-ray Fluorescence, X-ray Diffraction, ICP-MS, ICP-OES, and others.
Growth in the atomic spectroscopy market is likely to be centered on the Asia-Pacific region. The growth of this region is attributed to increased government sponsored research activities, developments in drug discovery research, expansions by key players, and rising awareness through conferences & symposia.
The entry of international companies through acquisitions and expansions are likely to boost the growth of the mass spectrometry market in the Asia-Pacific region. For instance, in 2013, Thermo Fisher Scientific, Inc. (U.S.) invested USD 9.5 million in its new China Innovation Center in Shanghai. The company offers a complete and integrated portfolio of solutions and services for laboratory research and analysis, healthcare and clinical science, manufacturing, and other fields.
The free trade agreement between Korea and the U.S. increased opportunities to import medical and research equipment into Korea. The strong shipping and air cargo infrastructure in Korea further accelerates the movement of goods and services. Furthermore, in January 2013, the European Union (EU) announced that by July 2013, drugs, active pharmaceutical ingredients (APIs), and excipients exported by New Zealand and Australia should comply with the standards equivalent to the European Good Manufacturing Practice (GMP). This step would ensure that the drugs exported by these countries need not go through additional quality checks in Europe, thus eliminating delays in their export. The increase in exports will increase the demand for atomic spectroscopy required in the Quality Assurance (QA) and Quality Control (QC) of these drugs. The New Zealand agreement of GMP regulations will come into effect after the creation of the Australia New Zealand Therapeutic Products Agency (ANZTPA) in 2016.
Collaborations among various institutes in Singapore, by promoting innovation and combining expertise, have significantly driven the growth of the atomic spectroscopy market of Singapore. Significant collaborations include the collaboration of Agilent Technologies with the National University of Singapore (NUS).
Conferences provide a platform for the exchange of new advancements in the field of atomic spectroscopy. They enable experts and key players to showcase innovations on mass spectrometry. Some of them are APCE2014-14th Asia Symposium on Microscale Separations and Analysis (2014), and National Seminar on Recent Advances in Spectroscopy and Analytical Techniques was held in October 2015 in Mumbai (India), among others. In addition, increased government support to promote atomic spectroscopy in APAC region further boosts market growth in the Asia-Pacific region.