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Atomic Spectroscopy Market to Grow by USD 2.46 Billion (2024-2028), Driven by Government Funding for Environmental Testing, AI Redefining the Market Landscape – Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global atomic spectroscopy market size is estimated to grow by USD 2.46 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.29%  during the forecast period. Increased funding by government organizations for environmental testing and product safety is driving market growth, with a trend towards growing use of portable spectroscopy systems in metal producing and processing sector. However, high cost of advanced instruments and maintenance services  poses a challenge. Key market players include A KRUSS Optronic GmbH, Agilent Technologies Inc., AMETEK Inc., Aurora Biomed Inc., Avantor Inc., Bruker Corp., Buck Scientific Instrument Manufacturing Co. AA, Endress Hauser Group Services AG, GBC Scientific Equipment, Hitachi High Tech Corp., HORIBA Ltd., PerkinElmer Inc., Rigaku Corp., SAFAS SA, Shimadzu Corp., Teledyne Technologies Inc., and Thermo Fisher Scientific Inc..

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Atomic Spectroscopy Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.29%

Market growth 2024-2028

USD 2461.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.66

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key countries

US, Canada, Germany, France, and China

Key companies profiled

A KRUSS Optronic GmbH, Agilent Technologies Inc., AMETEK Inc., Aurora Biomed Inc., Avantor Inc., Bruker Corp., Buck Scientific Instrument Manufacturing Co. AA, Endress Hauser Group Services AG, GBC Scientific Equipment, Hitachi High Tech Corp., HORIBA Ltd., PerkinElmer Inc., Rigaku Corp., SAFAS SA, Shimadzu Corp., Teledyne Technologies Inc., and Thermo Fisher Scientific Inc.

Market Driver

Manufacturers in the analytical instruments industry are prioritizing the development of compact, portable atomic spectroscopy systems to cater to the growing demand for onsite analysis in hard-to-reach locations. These portable products enable end-users in metal processing and production to perform tasks such as material identification and metal sorting effectively. The focus on portable optical emission spectroscopy systems and X-ray fluorescence (XRF) spectroscopy systems is particularly high due to their ability to provide non-destructive analysis of solid metallic samples quickly. The increasing global metal production further boosts the market potential for these portable atomic spectroscopy systems. 

Atomic spectroscopy is a key technology in analytical chemistry, used to identify and measure the concentrations of elements in various samples. This market encompasses techniques like Atomic Absorption (AA), Atomic Emission (AE), and X-ray Fluorescence (XRF). XRF uses X-rays to excite atoms, revealing their spectral lines. AA measures absorption of electromagnetic radiation, while AE detects emitted radiation. Mass analyzers help separate and identify elements. Sectors like Metallurgy, Pharmaceuticals, Forensics, Research Labs, Biopharma, and Biotech use atomic spectroscopy. It’s crucial for safety regulations, especially in drug products, APIs, raw materials, and intermediates. ICP spectrometers, including ICP-OES and ICP-MS, are popular instruments. XRF, AA, and AE are essential for trace elements analysis. Other techniques like Atomic Fluorescence and Mass Spectrometry complement these methods. This market continues to grow, driven by increasing demand for precise elemental analysis. 

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Market Challenges

Atomic spectroscopy is widely used in various industries due to its cost-effective analysis capabilities, particularly in applications where Atomic Absorption Spectroscopy (AAS) systems are employed. However, advanced atomic spectroscopy techniques such as Inductively Coupled Plasma Mass Spectrometry (ICP-MS) and Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES) face challenges in adoption due to their high capital and operating costs. ICP-MS and ICP-OES systems use argon gas, cones, nebulizers, and other expensive consumables, making them less affordable for laboratories and research institutions with limited budgets. These sophisticated systems have significant capital investments and high running and maintenance costs. The high cost analysis of atomic spectroscopes includes initial capital cost, ongoing running cost, and maintenance and service cost. Although ICP-MS and ICP-OES offer superior accuracy and precision, their high capital and operational expenses limit their adoption. The emergence of compact-sized portable atomic spectroscopy systems has introduced onsite testing capabilities and improved ease of use, but their high maintenance costs hinder their widespread adoption. For instance, the cost of repairing a detector in these systems can reach up to USD10,000. These factors are anticipated to impede the growth of the atomic spectroscopy market during the forecast period.Atomic spectroscopy is a crucial tool in analytical chemistry for identifying and quantifying elements in various industries. The market for atomic spectroscopy instruments includes applications in drug products and APIs, raw materials, intermediates, and environmental testing. Challenges in this market include complying with environmental regulations and ensuring food safety. Technologies such as ICP spectrometers (ICP-OES and ICP-MS), atomic absorption spectroscopy, X-ray fluorescence, and elemental analyzers are commonly used. Key players in the market include Agilent Technologies, PerkinElmer, and Thermo Fisher Scientific. Laboratory automation, multi-elemental analysis, and industry partnerships are driving innovation in this field. Precision agriculture, drug safety, biotechnology, and remote sensing are emerging applications. Stringent regulations and the need for trained professionals require continuous advancements in technology, including GFAAS, isotopic information, and telemetry integration. Our Company Analysis Dashboard provides research analyst access and competitor analysis to help businesses stay informed.

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Segment Overview 

This atomic spectroscopy market report extensively covers market segmentation by

Technology 1.1 Atomic absorption1.2 X ray fluorescence1.3 X ray diffraction1.4 ICP-MS and othersEnd-user 2.1 Pharmaceutical and biotechnology testing2.2 Food and beverage testing2.3 Environmental testing2.4 OthersGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Atomic absorption-  Atomic absorption spectroscopy is a quantitative analysis technique used to detect specific light wavelengths absorbed by neutral atoms. This method is commonly referred to as a metal analysis spectrometer due to its primary function in metal concentration analysis. Industries such as biomonitoring, chemical, food, and pharmaceutical sectors utilize atomic absorption spectrometers for analyzing metal concentrations in various samples, including medicines, foods, beverages, and biological fluids. The global atomic absorption market is projected to expand due to the growth of industries like pharmaceuticals and environmental testing, driven by the increasing incidence of diseases and environmental issues. According to Technavio’s latest analysis, the atomic absorption segment is expected to grow at a CAGR of 5.48% from 2022 to 2027, fueled by these factors and the overall growth of the global atomic spectroscopy market.

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Research Analysis

Atomic spectroscopy is a powerful analytical technique used to identify and quantify elements in various matrices, including drug products, APIs, raw materials, intermediates, and food samples. This technique utilizes the interaction of electromagnetic radiation with atoms to obtain spectral information, which is then used to determine the concentrations of specific elements. In the pharmaceutical industry, atomic spectroscopy plays a crucial role in ensuring the purity and quality of drug products and APIs by detecting trace elements. The food industry also benefits from this technology in addressing food safety concerns and complying with stringent regulations. Trained professionals use instruments such as ICP spectrometers, GFAAS, atomic fluorescence, atomic absorption, and atomic emission, among others, to obtain isotopic information and spectral lines for elemental analysis. The metallurgy sector also heavily relies on atomic spectroscopy for material analysis. Agilent Technologies and other key companies offer advanced atomic spectroscopy instruments and solutions for various industries.

Market Research Overview

Atomic spectroscopy is a powerful analytical technique used to identify and quantify elements in various matrices, including drug products, APIs, raw materials, intermediates, and environmental samples. This technique utilizes electromagnetic radiation to excite atoms, which then emit spectral lines that are unique to each element. Applications of atomic spectroscopy span across various industries, including the pharmaceutical, metallurgy, petrochemical, and environmental sectors. In laboratories, atomic spectroscopy plays a crucial role in quality control, environmental testing, and research. Technologies such as ICP spectroscopers, atomic absorption spectroscopy, X-ray fluorescence, and X-ray diffraction are commonly used. Multi-elemental analysis, isotopic information, and precision agriculture are some of the emerging trends in atomic spectroscopy. Strict regulations and food safety concerns are driving the demand for this technology in various industries. With the help of advanced instruments and trained professionals, atomic spectroscopy provides accurate and reliable elemental information, enabling industries to meet safety regulations and improve product quality.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyAtomic AbsorptionX Ray FluorescenceX Ray DiffractionICP-MS And OthersEnd-userPharmaceutical And Biotechnology TestingFood And Beverage TestingEnvironmental TestingOthersGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Marvion Inc. Subsidiary Signs Agreement with Engineering Firm for Construction of New State-of-the-Art Warehouse Facility

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HONG KONG, Nov. 14, 2024 /PRNewswire/ — Marvion Inc. (OTC: MVNC) is pleased to announce that its subsidiary United Warehouse Management Limited has officially signed a quotation agreement with Star Warehouse Engineering Limited for the construction of a new, state-of-the-art warehouse facility. The new warehouse will be strategically located to support the company’s growing logistics and storage operations, underscoring MVNC’s commitment to scaling up its infrastructure to meet the increasing market demand.

The new warehouse will feature two floors, each spanning 18,000 square feet, for a total floor area of 36,000 square feet. This expansion is set to enhance MVNC’s storage capabilities, streamline supply chain efficiency, and optimize logistics operations to better serve its expanding customer base.

Strategic Infrastructure Investment to Drive Long-Term Growth

This significant investment marks a crucial step in MVNC’s long-term strategic plan to solidify its position as a leader in the logistics and storage services sector. The new warehouse will not only bolster the company’s existing storage capacity but also enable the integration of advanced logistics and storage technologies. The facility will be equipped with modern automated systems with artificial intelligence engine to support high-volume inventory management and faster turnaround times, further strengthening MVNC’s competitive advantage in the region.

Commenting on this milestone, Mr. Chan Sze Yu, CEO of Marvion Inc., said:
“This new warehouse is a testament to our commitment to expanding our infrastructure to meet the ever-growing demand in the logistics industry. By investing in this state-of-the-art facility, we are positioning Marvion to better serve our clients and seize emerging opportunities in the market. This project will not only enhance our operational efficiency but also increase our capacity to support strategic partners like FedEx, SF Express, and other key clients.”

Supporting Sustainable Growth in the Asia-Pacific Region

Aligned with MVNC’s sustainability goals, the new facility will incorporate environmentally friendly design elements, such as energy-efficient lighting systems and optimized insulation to reduce energy consumption. These initiatives underscore MVNC’s dedication to promoting sustainable business practices while driving growth.

The construction is scheduled to begin in Q4 2024, with completion expected by the end Q2 2025. The new facility is projected to generate significant operational synergies, contributing to the company’s continued revenue growth and profitability.

About Marvion Inc.

Marvion Inc. (OTC: MVNC) is a leading logistics and warehousing solutions provider based in Hong Kong. The company specializes in offering one-stop transport and storage services to business clients, leveraging advanced digital technologies and efficient inventory management systems.

Company Website: www.unitedksk.com

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SOURCE Marvion Inc.

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American Liver Foundation Hosts the 33rd Annual Irwin M. Arias Symposium

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Virtual and in-person event, Bridging Basic Science and Liver Disease, brings together hundreds of leading biomedical scientists and physicians from across the globe 

FAIRFIELD, N.J., Nov. 14, 2024 /PRNewswire/ — American Liver Foundation is excited to host its 33rd annual Irwin M. Arias Symposium, Bridging Basic Science and Liver Disease, on Wednesday, November 20th from 9AM to 5PM ET. Hundreds of leading biomedical scientists and physicians around the world will come together for this prestigious hybrid, in-person and virtual, one-day event. Each presentation highlights remarkable scientific advances in basic biology and engineering while also providing cutting edge research for a better understanding of liver diseases and the best treatment options available today.

Bridging Basic Science & Liver Disease brings together leading biomedical scientists and physicians from across globe

This informative symposium features 10 unique plenary talks from renowned researchers such as Presidential Medal of Freedom recipient and physician-geneticist Francis S. Collins, MD, PhD, who led the Human Genome Project and discovered the genes causing several genetic diseases. He also served under three Presidents as the Director of the U.S. National Institutes of Health (NIH), the largest supporter of biomedical research in the world. He is currently leading a bold effort to eradicate Hepatitis C throughout the United States. Anne Carpenter, PhD, is the Senior Director of the Imaging Platform and an Institute Scientist at the Broad Institute of MIT and Harvard. She was included on the Top 100 list of AI leaders for her team’s open-source CellProfiler software that is used by thousands of biologists worldwide and their Cell Painting assay that has been adopted throughout the pharma industry to accelerate drug discoveries. There will also be a collection of three-minute ‘MicroTalks’ delivered by trainee scientists.

“This unique one-day annual symposium is a must-attend event for scientists interested in exploring innovative, groundbreaking research conducted in labs and the therapeutic treatments eventually delivered in clinics across the country,” said Lorraine Stiehl, CEO, American Liver Foundation. “Over the past 33 years, research presented at this event has led to many advances in the diagnosis and treatment of virtually all liver diseases in children and adults. Dr. Irwin M. Arias, recognized throughout the world, has devoted his life’s work to advancing liver disease research, treatments and cures and we’re so grateful for his expertise. Liver patients everywhere have benefited from his preeminent work.”

Symposium co-chairs include Sangeeta Bhatia, MD, PhD, John J. and Dorothy Wilson Professor, Electrical Engineering and Computer Science and Institute of Medical Engineering and Science Department at MIT, and Wolfram Goessling, MD, PhD, Chief of Gastroenterology at Massachusetts General Hospital, Director of the Harvard-MIT Health Sciences & Technology at Harvard Medical School and a Professor of Medicine at Harvard Medical School. The overall programming has been designed to honor Dr. Arias’ founding commitment to ‘bridging’ the gap between the academic, industrial, and clinical research communities – even across disciplines.

“The burden of chronic liver diseases affects over 100 million people in the United States alone and is rapidly becoming a public health crisis,” said Dr. Goessling, Chief of Gastroenterology at Massachusetts General Hospital. “Unfortunately, we currently lack effective tools for prevention, diagnosis and treatment for many liver conditions, so it’s vitally important to connect basic science research with the ongoing needs prevalent in many clinics and the Arias Symposium provides this opportunity.”

“Significant gaps remain in the understanding of many liver diseases and the fundamental systems involved in normal and pathological liver function,” said Dr. Bhatia, John J. and Dorothy Wilson Professor at MIT’s Institute of Medical Engineering and Science Department. “This scientific conference bridges basic science and liver disease while also nurturing successful careers in basic and translational liver research. The Arias Symposium allows us all to come together to share our research, encourage new trainees to learn more about liver disease and offers everyone one-day to learn what’s new and engaging in the world of liver research and science.”

The symposium is open to researchers at every stage of their careers, and they are encouraged to share perspectives from their academic, industrial, and clinical research settings. In-person attendees will benefit from a poster session and networking opportunities with plenary speakers and other attendees. Breakfast, lunch, and a networking reception will also be provided to in-person attendees. Registration is free for all trainees (postdocs, fellows, grads, students, undergrads, etc.). Registration is $50 for in-person attendees other than trainees. Virtual attendance is free but does require registration. Register here for this informative event.

This one-day virtual program will include topics such as:  

It’s Time to Eliminate Hepatitis C in the U.S. Francis Collins, MD, PhD – National Institutes of Health (VIRTUAL)Post-Transplant Alloimmune Hepatitis – What do we know and What’s New Udeme Ekong, MD, MPH, FAASLD – Georgetown University Detecting Liver Phenotypes and Toxicity Using Cell Image Data Anne Carpenter, PhD – Broad Institute of MIT and HarvardSpatial Clonal Tracing in Solid Tissues Fernando Camargo, PhD – Massachusetts Institute of TechnologyHolistic Multi-Scale Molecular Imaging of Human Organs Kwanghun Chung, PhD – Boston Children’s HospitalCell Identity Conversion – Liver Regeneration and Cell Therapy Lijian Hui, PhD – Shanghai Institutes for Biological SciencesDeveloping Cirrhosis Therapies: The Three Grand Challenges Quin Wills, MD, PhD – Ochre BioPediatric Liver Tumors: Clinical Context and Opportunities for Collaboration Allison O’Neill, MD – Dana-Farber Cancer InstituteUnderstanding How the Organism Monitors Liver Sufficiency to Properly Time RegenerationKristin Knouse, MD, PhD – Massachusetts Institute of TechnologyCellular and Molecular Drivers of Liver Cancer Response to ImmunotherapyMiriam Merad, MD, PhD – Mount Sinai School of Medicine

For the full agenda, list of speakers, and registration, please visit alfevents.org/ariassymposium.  

In addition to the Arias Symposium, American Liver Foundation offers a research awards program in three categories, Liver Scholar Award, Postdoctoral Research Fellowship Award, and Pilot Research Awards that recently funded eight highly innovative projects into these rare diseases – PSC, AIH and BA. Since 1979, ALF’s research awards program has provided more than $28 million in research funding. Over 850 qualified scientists and physicians have pursued research careers in liver biology, disease and treatment because they received these grants early in their careers. Learn more at liverfoundation.org/research.

About the American Liver Foundation
American Liver Foundation (ALF) is a national community of patients, caregivers and medical professionals dedicated to helping people improve their liver health. Providing guidance and life-saving resources, we are a beacon for the 100 million Americans affected by liver disease. We advocate for patients and families, fund medical research and educate the public about liver wellness and disease prevention. We bring people together through our educational programs and events and create a network of support that lasts a lifetime. ALF is the largest organization focused on all liver diseases and the trusted voice for patients and families living with liver disease. For more information visit www.liverfoundation.org or call: 1 800 GO LIVER (800-465-4837).

Media Contacts:                   
Julie Kimbrough
JKimbrough@liverfoundation.org              
Direct dial: 646-737-9409   
Karla Thomas     
Direct dial: 773.575.9477        

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SOURCE American Liver Foundation

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Avantor® Opens New Bridgewater Innovation Center Focused on Solving Life Science’s Biggest Challenges

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RADNOR, Pa., Nov. 14, 2024 /PRNewswire/ — Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, today announced the opening of its new flagship Bridgewater Innovation Center. The state-of-the-art research and development facility, located in Bridgewater, NJ, is part of Avantor’s network of 13 research and innovation centers across the globe.

Avantor’s new Bridgewater Innovation Center spans 60,000 square feet, doubling its previous laboratory and pilot plant capacity. Purpose-designed for collaborative work, the center houses spaces for upstream and downstream process development, dedicated analytical testing labs, and a viral vector laboratory. An expanded pilot plant supports scale-up simulations, enabling rapid customization across the entire bioprocessing workflow.

“Our new Bridgewater Innovation Center is twice the size of our previous facility and adds capacity, talent and capabilities to support the growing demands for monoclonal antibodies, cell and gene therapy and mRNA workflows,” said Michael Stubblefield, President and CEO of Avantor. “Working side-by-side with customers in our network of innovation centers across the globe enables us to power science at every step to deliver life-changing therapies faster, and more cost effectively.”

The Bridgewater Innovation Center allows Avantor to optimize and accelerate biomanufacturing processes at scale; resulting in faster problem solving, streamlined knowledge exchange, and strategic co-innovation. Staffed with Ph.D. scientists, bioengineers, biologists, and process engineers, this center enhances both capacity and expertise to support customers’ needs. The facility also supports Avantor’s sustainability goals, reinforcing the Company’s commitment to environmental responsibility.

For more information about the Bridgewater Innovation Center, visit: https://www.avantorsciences.com/us/en/about/innovation-in-biopharma/avantor-bridgewater-innovation-center

About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedInX (Twitter) and Facebook.

Global Media Contact
Eric Van Zanten
Head of External Communications
Avantor
610-529-6219
Eric.VanZanten@avantorsciences.com

Investor Relations Contact
Christina Jones
Vice President, Investor Relations
Avantor
805-617-5297
Christina.Jones@avantorsciences.com

 

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