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Portable Analytical Instrument Market to Grow by USD 3.07 Billion from 2024-2028 Driven by Rising Demand for Generic Drugs, AI Driving Market Transformation- Technavio

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NEW YORK, Oct. 22, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Portable Analytical Instrument Market size is estimated to grow by USD 3.07 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.8%  during the forecast period. Rise in demand for generic drugs is driving market growth, with a trend towards vendors offering analytical software as an additional service. However, design challenges in miniaturization of handheld devices  poses a challenge – Key market players include Agilent Technologies Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Eppendorf SE, F. Hoffmann La Roche Ltd., Hitachi Ltd., HORIBA Ltd., JASCO International Co. Ltd., JEOL Ltd., Metrohm AG, Mettler Toledo International Inc., Perkin Elmer Inc., Rigaku Corp., Rudolph Research Analytical, Shimadzu Corp., Spectris Plc, Teledyne Technologies Inc., Thermo Fisher Scientific Inc., and Waters Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Portable Analytical Instrument Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.8%

Market growth 2024-2028

USD 3071.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.4

Regional analysis

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

Performing market contribution

Asia at 35%

Key countries

US, China, Germany, Japan, and UK

Key companies profiled

Agilent Technologies Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Eppendorf SE, F. Hoffmann La Roche Ltd., Hitachi Ltd., HORIBA Ltd., JASCO International Co. Ltd., JEOL Ltd., Metrohm AG, Mettler Toledo International Inc., Perkin Elmer Inc., Rigaku Corp., Rudolph Research Analytical, Shimadzu Corp., Spectris Plc, Teledyne Technologies Inc., Thermo Fisher Scientific Inc., and Waters Corp.

Market Driver

Vendors in the portable analytical instrument market are enhancing their offerings by providing additional software solutions alongside portable analyzers. This focus stems from the growing requirement for efficient laboratory workflows and the need to store data for future research and development purposes. Data integration is crucial, as data from portable analyzers must be combined with other exploratory data to generate valuable insights for informed decision-making. Agilent Technologies, a prominent market player, offers the OpenLAB Laboratory Software suite, which includes the OpenLAB Electronic Lab Notebook software module. This module addresses major data challenges for routine testing laboratories by managing and storing data at a single source, collating data from various databases into a single experiment, and providing integrated workflow processing for improved lab efficiency and data quality. Thermo Fisher Scientific also provides a comparable software suite, the Niton Data Transfer (NDT) Software Suite, which offers a set of data management tools for diverse applications, such as metal alloy analysis and scrap metal recycling. NDT includes modules for instrument setup, data downloading and management, sample x-ray spectra comparison and analysis, report and certificate design and printing, empirical calibration development, and software upgrades installation. Both vendors provide software programs as an extra service to expand their customer base and ensure customer loyalty. This trend is expected to persist and contribute positively to the growth of the global portable analytical instrument market throughout the forecast period. 

The Portable Analytical Instruments market is experiencing significant growth due to increasing demand from various industries. NIR, Raman spectroscopy, Laser-induced breakdown spectroscopy, Ion mobility spectroscopy, spectral imaging, and other advanced technologies are driving innovation in this sector. Environmental testing industry is a major consumer, with venture capitalists investing heavily in TOC analyzers, thermometers & balances, and other portable instruments. Pharmaceutical/Biotech Enterprises and Environmental Groups also use these tools for instant results in diverse applications. Macroeconomic analysis indicates increasing healthcare expenditure leading to demand for medical devices, including lightweight handheld instruments like titrators, refractometers, pH meters, spectrometers, gas analyzers, colorimeters, thermal analyzers, and spectroscopic analysis instruments. Elemental analysis tools like X-ray fluorescence (XRF) are also gaining popularity. Weather conditions can impact the market, but the overall trend is positive, with infrastructure development and instant results being key factors. 

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 Market Challenges

The portable analytical instrument market faces challenges in balancing effective performance with affordability. End-users seek feature-rich, sensitive, and cost-effective devices. Manufacturers grapple with power consumption and battery life, as displays and high-performance processors are significant battery consumers. Modern displays and processors with higher resolution increase power utilization, surpassing battery capacity. Added features catering to consumer needs add to design complications and greater power consumption. Designing switches for these devices is also a challenge due to larger screen spaces and the need for increased features like shock resistance. Moreover, rapid technological advancements increase the risk of designs becoming obsolete upon launch, necessitating varied functionalities within a limited budget and user interface. These challenges may negatively impact the growth of the global portable analytical instrument market.The Portable Analytical Instruments market encompasses various technologies such as Near-infrared spectroscopy (NIR), Raman spectroscopy, Laser-induced breakdown spectroscopy, Ion mobility spectroscopy, spectral imaging, and more. These instruments find applications in industries like environmental testing, pharmaceutical/biotech enterprises, and healthcare. Venture capitalists are investing in this sector due to the demand for lightweight, handheld instruments providing instant results in various industries. NIR, Thermal analysis, Electrochemical analysis, and other techniques offer solutions for environmental groups and infrastructure projects. In the healthcare sector, medical devices like TOC analyzers, thermometers, balances, and pH meters are crucial. Macroeconomic analysis indicates growing healthcare expenditure and increasing environmental regulations, fueling market growth. Spectroscopic analysis techniques like spectrometers, gas analyzers, colorimeters, and thermal analyzers cater to various industries. Elemental analysis through X-ray fluorescence (XRF) and other methods is essential for industries dealing with materials testing. Challenges include weather conditions affecting instrument performance and the need for calibration and maintenance. Other instruments like titrators, refractometers, pH meters, and spectrophotometers are also part of this market.

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Segment Overview 

This portable analytical instrument market report extensively covers market segmentation by  

Product 1.1 Spectrometers1.2 Gas and TOC analyzers1.3 Thermal analyzers1.4 OthersEnd-user 2.1 Pharmaceutical and biotechnology companies2.2 Food and beverage companies2.3 Environmental testing organizations2.4 OthersGeography 3.1 Asia3.2 North America3.3 Europe3.4 Rest of World (ROW)

1.1 Spectrometers-  The Portable Analytical Instruments market is growing due to the increasing demand for on-site analysis in various industries. These instruments offer convenience and accuracy, making them a preferred choice over traditional lab-based methods. Key players in this market include Thermo Fisher Scientific, Agilent Technologies, and Shimadzu Corporation. They focus on innovation and product development to meet the evolving needs of their customers. Portable analytical instruments are used in fields such as food and beverage, pharmaceuticals, and environmental testing, among others. The market is expected to continue its expansion due to the benefits these instruments provide in terms of speed, cost savings, and improved accuracy.

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Research Analysis

Portable analytical instruments refer to lightweight, handheld devices used for on-site analysis of various parameters. These instruments offer instant results, making them ideal for industries requiring real-time data, such as environmental monitoring and healthcare. Infrastructure development and increasing healthcare expenditure are key drivers for the growth of the portable analytical instrument market. Weather conditions can impact the accuracy of some instruments, necessitating advanced technology to mitigate such effects. Refractometers, pH meters, spectrometers, gas analyzers, and other types of portable analytical instruments find extensive applications in industries like food and beverage, pharmaceuticals, and environmental monitoring. Macroeconomic analysis and strategic product and business plans are crucial for market players in this competitive landscape. Spectroscopic analysis, elemental analysis, and thermal analyzers are advanced techniques used in portable analytical instruments for precise and accurate results. Medical devices, such as portable blood glucose meters, are a significant segment of the market, driven by the growing need for point-of-care diagnostics.

Market Research Overview

The Portable Analytical Instrument Market is witnessing significant growth due to the increasing demand for lightweight, handheld instruments that offer instant results in various industries. Infrastructure development and the need for real-time analysis in sectors like healthcare, environmental testing, and pharmaceuticals are driving market growth. Weather conditions and healthcare expenditure are key factors influencing the market. Portable analytical instruments include titrators, refractometers, pH meters, spectrometers, gas analyzers, colorimeters, thermal analyzers, spectroscopic analysis, elemental analysis, X-ray fluorescence (XRF), near-infrared spectroscopy (NIR), Raman spectroscopy, laser-induced breakdown spectroscopy, ion mobility spectroscopy, spectral imaging, TOC analyzers, thermometers & balances, and electrochemical analysis. Venture capitalists and environmental testing industries are major investors in this market. Macroeconomic analysis, pharmaceutical/biotech enterprises, and environmental groups are significant end-users. Technologies like NIR, thermal analysis, and spectral imaging are gaining popularity. The market is expected to grow further with advancements in technology and increasing demand for portable analytical instruments in various industries.

Table of Contents:

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

ProductSpectrometersGas And TOC AnalyzersThermal AnalyzersOthersEnd-userPharmaceutical And Biotechnology CompaniesFood And Beverage CompaniesEnvironmental Testing OrganizationsOthersGeographyAsiaNorth AmericaEuropeRest 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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Technology

BRICS building stronger impetus for world peace, development

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BEIJING, Oct. 23, 2024 /PRNewswire/ — A report from People’s Daily: Chinese President Xi Jinping will attend the 16th BRICS Summit in Kazan, Russia, from Oct. 22 to 24 at the invitation of President of the Russian Federation Vladimir Putin. It’ll be the first such gathering to be held after the BRICS expansion.

China looks forward to working with all relevant parties to get the greater BRICS cooperation off to a good start, write new chapters of emerging markets and developing countries jointly seeking development, and bring more certainty, stability and positive energy to the world.

Since its establishment, the BRICS cooperation mechanism has consistently acted on the BRICS spirit of openness, inclusiveness and win-win cooperation, and has become a pacesetter in  South-South cooperation.

As the world has entered a new period of turbulence and transformation, various security threats are intertwined, and the global economic recovery has been impacted by multiple factors. This has posed severer challenges to developing countries.

Last year, the BRICS took a historic step in expanding its membership, further enhancing its representativeness and influence globally.

Holding a BRICS extraordinary virtual summit on the Palestinian-Israeli issue and jointly defending the rights and interests of developing countries in multilateral mechanisms such as the G20, BRICS countries has become a positive and stable force for good in international affairs.

The continuous development and growth of the BRICS cooperation mechanism come from its efforts to conform to the trend of history and find the right path for cooperation.

The BRICS countries adhere to the overarching direction of peaceful development. Adhering to the political settlement of hotspot issues, they settle disputes through dialogue, resolve differences through consultation, and enhance security through cooperation, which conforms to the aspiration of the people of all countries for a sound security environment.

The BRICS countries prioritize development. They work together to restore development as the central international agenda item, and focus on the real difficulties faced by developing countries, which is in line with the aspirations of people of all countries for a better life.

The BRICS countries uphold and safeguard true multilateralism. They defend the United Nations’ central role in international affairs, uphold international law and the basic norms governing international relations, and encourage and support countries to pursue development paths that suit their national conditions, which meets the demands of Global South countries for a fair development space.

The BRICS countries share broad consensus and common goals, and regardless of the changing international situation, their original intention of cooperation and common aspirations remain unchanged.

As leading members of the Global South, BRICS countries always breathe the same breath with other developing countries and pursue a shared future with them.

The BRICS cooperation mechanism was born in the era of the collective rise of Global South countries. As the BRICS cooperation mechanism develops, it can better unite the forces of the Global South, lead the development of the Global South, safeguard the interests of the Global South, and amplify the voice of the Global South.

The fact that more than 30 countries have applied to join the BRICS cooperation mechanism fully demonstrates that the appeal of BRICS is continuously increasing and its attractiveness is growing stronger.

The expanded BRICS family should bring out the strategic significance and political impact of the expanded BRICS, and make it a new type of multilateral cooperation mechanism with emerging markets and developing countries as the mainstay, and with an open, inclusive and globally-oriented outlook, so as to make global governance more just and equitable.

The BRICS cooperation mechanism is at a crucial time to build on its past achievements and open up a new future. China supports BRICS countries in enhancing cooperation across the board, building a high-quality partnership, and playing a greater role on the international stage. China advocates for BRICS countries to promote common security and work towards achieving lasting peace.

BRICS countries should support each other on issues concerning their core interests, enhance coordination on major international and regional issues, actively mediate in hotspot issues, and promote political resolutions.

China proposes that BRICS countries be fellow companions on the journey of development and revitalization, take the development and revitalization of Global South countries as a priority of the Global Development Initiative, and drive the development of the Global South through their own development.

China believes that BRICS countries need to champion the spirit of inclusiveness, advocate peaceful coexistence and harmony between civilizations, and promote respect of all countries in independently choosing their paths to modernization.

BRICS countries should practice true multilateralism, uphold the United Nations-centered international system, support and strengthen the WTO-centered multilateral trading system, fully leverage the role of the New Development Bank, and push forward reform of the international financial and monetary systems.

Starting from a new point, the greater BRICS should shoulder greater responsibilities and make greater achievements. China is willing to work with BRICS partners to uphold the founding purpose of strengthening themselves through unity, promote stable and long-term greater BRICS cooperation, usher in a new era of self-improvement of the Global South, and jointly promote world peace and development.

View original content:https://www.prnewswire.com/apac/news-releases/brics-building-stronger-impetus-for-world-peace-development-302283905.html

SOURCE People’s Daily

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Tbay Introduces Fast Transaction Feature: A New Standard for Secure and Instant Gift Card Trading

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ABUJA, Nigeria, Oct. 22, 2024 /PRNewswire/ — Tbay, the leading platform for trading gift cards in Nigeria, is thrilled to announce the launch of its groundbreaking “Fast Transaction” feature. Over the years, Tbay has solidified its reputation as a trusted and reliable platform for gift card trading, and with the new Fast Transaction feature, we are further elevating the user experience by making trades more secure, faster and incredibly seamless.

With Fast Transaction, Tbay users can now sell their gift cards directly to Tbay itself—bypassing the need to deal with vendor and offer selection. This innovative feature not only speeds up the process but also enhances security, ensuring that users can trade with complete peace of mind.

Why Choose Fast Transaction?

Unmatched Security
Tbay has always placed a premium on user safety, and Fast Transaction takes this to the next level. This feature guarantees that all transactions are fully secure and managed by a trusted and well-established platform. With Fast Transaction, you’re always trading with Tbay, a name synonymous with reliability and safety in the gift card industry.

Simplified, Streamlined Process
The Fast Transaction feature has been designed with ease of use in mind. In just a few simple steps, users can complete a sale and receive payment almost instantly. It’s as simple as selecting your gift card, confirming the details, and getting paid—quickly and effortlessly.

Instant Payouts
At Tbay, we understand that time is critical when selling gift cards. Fast Transaction ensures that once your gift card is verified, payment is processed within minutes. Whether you need cash urgently or just prefer a hassle-free experience, the Fast Transaction feature delivers by offering almost immediate payout.

How to Use Tbay’s Fast Transaction Feature?

Log in to Your Tbay Account
If you’re not already a Tbay user, registering is quick and easy, taking just a few minutes to set up an account.

Select the Fast Transaction Option
Navigate to the Fast Transaction feature directly from the homepage or by visiting this link https://h5.tbay.store/fast/cardType.

Enter Your Gift Card Details
Provide the necessary details like Pin code for the gift card you’re looking to sell. Double-check to make sure you are sharing the correct information.

Receive Instant Payment
Once the card is verified, payment is processed and sent to your Tbay account in a matter of minutes. You can immediately convert your Tbay points to Naira or use them as needed.

Why Tbay’s Fast Transaction Feature is a Game Changer?

Convenience Without Compromise
The Fast Transaction feature redefines convenience. It’s ideal for those who value efficiency and want to avoid the typical hassles of gift card sales.

Fast and Reliable Payment Options
Fast Transaction ensures that once your gift card is accepted, you won’t have to wait long for your payment. Users receive their Tbay points instantly. This feature is particularly beneficial when quick access to cash is needed, providing the reliability and speed users expect from a modern platform.

A Platform You Can Trust
With years of experience and a strong reputation, Tbay is the platform of choice for safe and secure gift card trading in Nigeria. The launch of the Fast Transaction feature further solidifies our commitment to providing users with the most reliable, fast, and secure service in the industry.

Conclusion

Tbay’s Fast Transaction feature sets a new benchmark for gift card trading in Nigeria. Whether you’re in need of quick cash or simply looking for a fast, secure, and hassle-free way to sell your gift cards, Fast Transaction offers a solution that meets all your needs.

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SOURCE Tbay

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JD Logistics Expands International Express Delivery to Seven Southeast Asian Countries

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BEIJING, Oct. 23, 2024 /PRNewswire/ — JD Logistics (also known as JINGDONG Logistics), the logistics arm of Chinese e-commerce giant JD.com, today officially announced the launch of express delivery service from China to seven Southeast Asia countries: Singapore, Malaysia, Thailand, Vietnam, Indonesia, the Philippines, and Brunei.

This expansion follows the company’s recent launch of services to South Korea and Japan in September. Since launching its international express operations in late 2023, JD Express (JINGDONG Express) has rolled out two major services: “International Express” and “International Standard Express.” These services now span nearly 30 countries and regions, with the number expected to reach approximately 80 by year-end, addressing the diverse needs of both businesses and consumers.

JD Logistics is a leader in integrated supply chain services and has been driving innovation in the industry for over a decade, notably with its pioneering same- and next-day delivery services. Today, more than 90% of JD.com’s retail orders are fulfilled within 24 hours. The company employs over 300,000 in-house delivery personnel and operates more than 1,600 warehouses.

In addition to expanding its express delivery network, JD Logistics continues to extend its supply chain and warehousing capabilities to international markets. It currently operates nearly 100 bonded, direct mail, and overseas warehouses across the U.S., Germany, the Netherlands, France, the U.K., Australia, and beyond. In Southeast Asia, JD Logistics operates multiple local warehouses in Malaysia and Vietnam. In September, the company opened its second self-operated warehouse in Malaysia, a 10,000-square-meter facility providing B2B and B2C warehousing, rapid 24-hour fulfillment, reverse logistics, omni-channel fulfilment, transportation, customs clearance, and other value-added services. This warehouse has also been LEED-certified as a Green Building.

Earlier this year, JD Logistics announced plans to double its overseas warehouse capacity by 2025 as part of its broader global supply chain strategy. This expansion reflects JD Logistics’ commitment to meeting the growing demand for cross-border logistics solutions. With its continued focus on reliability, efficiency, and innovation, JD Express International remains a trusted partner in global shipping, offering seamless and dependable logistics solutions for customers worldwide.

 

View original content:https://www.prnewswire.com/apac/news-releases/jd-logistics-expands-international-express-delivery-to-seven-southeast-asian-countries-302283907.html

SOURCE JD Logistics

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