X-ray Photoelectron Spectroscopy Market Worth $712.4 Million By 2022

The global XPS market is expected to reach USD 712.4 million by 2022, according to a new report by Grand View Research, Inc. Growing application of XPS technology in different industries such as healthcare, semiconductors, aerospace, automotive, and electronics along with rising demand for research and development across all these industries is expected to drive the XPS market over the forecast period.

In addition, rising popularity of hyphenated technologies and other technological advancements such as hard X-ray photoelectron spectroscopy (HAXPES) has prompted the growth of the X-ray photoelectron spectroscopy market. The ability of XPS to accurately identify contamination in the provided sample is also expected to contribute towards boosting usage rates.

Rising demand for XPS technique for drug safety and medical research is expected to serve the market as a future growth opportunity. Presence of supportive government initiatives such as the “Safe Use Initiative” by FDA and “Drug Safety Information Survey” introduced by Health Canada for creating awareness regarding medical research and development are some notable examples likely to provide manufacturers with lucrative growth opportunities.

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Further key findings from the report suggest:

  • The global element detection market is anticipated to reach 257.05 million by 2022, at a CAGR of 6.29% from 2015 to 2022
  • In terms of usage, contamination detection segment is expected to show the fastest growth during the forecast period
  • In terms of application, healthcare segment is expected to dominate the market over the forecast period
  • Asia pacific is expected to show the fastest growth in XPS market over the forecast period
  • North America is expected to dominate the XPS market during the forecast period
  • The market is partially consolidated and competitive in nature, with presence of global multinational players.
  • Some of the key companies present in the market include Thermo Fisher Scientific, Kratos Analytical, Evan Analytical Group (EAG), Intertek, V G Scienta, Yokogawa, Kett and Mitsubishi Electric.

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