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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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CGTN: How China contributes to greater BRICS cooperation

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October 23, 2024

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BEIJING, Oct. 23, 2024 /PRNewswire/ — Leaders of the BRICS countries are having their first face-to-face gathering in the Russian city of Kazan after the group’s historic expansion from five members to 10 in January.

Chinese President Xi Jinping arrived in Kazan on Tuesday for the 16th BRICS Summit. Xi will exchange views with other leaders on practical cooperation and the development of the BRICS mechanism for emerging economies, among other topics, during the summit.

China has consistently been a staunch supporter and participant in the BRICS cooperation mechanism, seeking win-win cooperation with other members and following the spirit of openness and inclusiveness.

Win-win cooperation

Since its founding, BRICS has sought win-win cooperation, with the Shanghai-headquartered New Development Bank (NDB) being a flagship project of BRICS cooperation.

As the first multilateral development bank established by emerging economies, the NDB provides financing support for infrastructure development, clean energy, environmental protection, and building cyberinfrastructure across BRICS countries. By the end of 2023, it had approved 105 projects in all member countries for approximately $35 billion.

The NDB serves as a significant platform for international cooperation that transcends the territorial boundaries, which not only amplifies the voices of BRICS countries but also represents the shared aspirations of other nations, Dilma Rousseff, president of the NDB, told media recently.

China has been committed to deepening mutually beneficial cooperation with BRICS partners. In the first quarter of this year, trade between China and BRICS countries reached 1.49 trillion yuan (about $209.7 billion), an increase of 11.3 percent year on year, according to customs authorities.

Ronnie Lins, executive director of the Brazil-China Research and Business Center, said China plays a crucial role in building consensus among BRICS countries, promoting coordination and cooperation, and advancing a common agenda.

‘Not a closed club’

Openness and inclusiveness have remained BRICS members’ abiding commitment since the mechanism’s inception. Xi has repeatedly emphasized that BRICS countries do not gather in a closed club or an exclusive circle.

At a gathering in Xiamen in 2017, the Chinese leader put forward the “BRICS Plus” program, encouraging more emerging markets and developing nations’ participation.

On January 1, 2024, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates became BRICS members, joining Brazil, Russia, India, China and South Africa, marking the official beginning of greater BRICS cooperation.

More than 30 nations have either formally applied for or expressed interest in its membership, and many other developing countries are seeking deeper cooperation with the group.

Speaking about the Kazan summit, Lin Jian, a Chinese Foreign Ministry spokesperson, said that BRICS has become a positive and stable force for good in international affairs.

He said China stands ready to work with other parties to strive for the steady and sustained development of greater BRICS cooperation, open a new era for the Global South to seek strength through solidarity and jointly promote world peace and development.

https://news.cgtn.com/news/2024-10-22/How-China-contributes-to-greater-BRICS-cooperation-1xUFW77KILe/p.html

SOURCE CGTN

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Technology

Xinhua Silk Road: Guilin Bank provides dedicated services to boost China-ASEAN cross-border financial cooperation

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2 hours ago

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October 23, 2024

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BEIJING, Oct. 23, 2024 /PRNewswire/ — Guilin Bank, a local bank situated in south China’s Guangxi Zhuang Autonomous Region, has been providing dedicated services to boost China-ASEAN cross-border financial cooperation.

On September 25, the bank launched the National Vietnamese Dong Cash Transfer Center in partnership with the planning and construction management committee of the Wuxiang New Area in Nanning, capital of Guangxi, at the China-ASEAN Financial Cooperation & Development Conference 2024, aiming to strengthen monetary and financial cooperation between China and Vietnam.

Based on the project, Guilin Bank will vigorously develop the wholesale business of the Vietnamese dong, and form a regional currency service pattern featuring improved supply network, transfer capability and exchange experience by employing such measures as deepening cooperation with licensed exchange institutions and expanding cross-border cash transfer channels.

Also during the 21st China-ASEAN Expo held from September 24 to 28, Guilin Bank set up a live-streaming session to promote Guangxi’s characteristic products and goods from ASEAN countries.

As of the end of September this year, the online promotions launched by the bank had driven sales of goods by more than 100 enterprises and 310 types of products imported from Vietnam, Malaysia, Thailand and other countries, with the total clicks standing at over 240,000.

As China expands high-level opening up, Guilin Bank is actively contributing to financial connectivity with ASEAN countries and other countries in the Asia Pacific region. For example, it has established cooperative relationships with multiple banks in border provinces of Vietnam, as well as financial institutions such as Canadia Bank, Kasikorn Bank, Hong Leong Bank, and Citibank.

In the meantime, the border trade settlement channels for the Dongxing-Móng Cái, Jingxi-Trà Lĩnh, and Pingxiang-Lạng Sơn ports on the China–Vietnam border were opened up by the bank, realizing the listing, exchange, and trading of the currencies of Vietnam, Cambodia, and Thailand and seven world’s most commonly used currencies.

Guilin Bank also engages in exchanges concerning business networks, capital clearing, anti-money laundering, anti-counterfeit currency, etc. with financial institutions in ASEAN countries.

Original link: https://en.imsilkroad.com/p/342739.html

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SOURCE Xinhua Silk Road

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KEENON Robotics and Truly Robotics Showcase New Cleaning Products at Food & Hotel Asia-HoReCa Singapore 2024, Pioneering Intelligent Services

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2 hours ago

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October 23, 2024

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SINGAPORE, Oct. 23, 2024 /PRNewswire/ — KEENON Robotics, a global leader in service robotics, showcased its latest innovations alongside partner, Truly Robotics, at Food & Hotel Asia-HoReCa Singapore 2024, Asia’s premier food and hospitality exhibition. Together, they unveiled KEENON’s new cleaning robot series and a comprehensive product lineup, offering attendees valuable insights into the practical applications of KEENON’s delivery robots in the food and hospitality sectors, garnering significant attention from industry professionals and the public.

During the exhibition, KEENON Robotics showcased several products that drew considerable attention, particularly the newly launched KLEENBOT C20 and C25 cleaning robots, which stood out as key highlights. These robots are expertly designed for small and large spaces, respectively, combining functions like washing, sweeping, pushing, and vacuuming to deliver impressive performance and cleaning effectiveness.

The KLEENBOT C20 is specifically suited for compact areas such as cafés and hotel rooms, featuring a clever design that allows it to navigate easily in tight spaces, ensuring thorough cleaning of hard-to-reach spots like under beds and tables. Meanwhile, the KLEENBOT C25 is perfect for larger environments, including hotel lobbies, restaurants, and food processing areas. It efficiently tackles debris such as chips and coffee stains, using its powerful cleaning capabilities and effective operational modes to quickly cover extensive areas, creating a comfortable and healthy environment for users.

KEENON demonstrated the collaborative capabilities of its various robot models in diverse scenarios. Whether in restaurants, hotels, or other commercial settings, KEENON’s service robots adeptly adapt, providing efficient and intelligent solutions that attracted many visitors eager to learn more and experience the products firsthand, earning great interest from attendees.

On-site, Mr. Wan Bin, Chief Operating Officer (COO) of KEENON Robotics, and Mr. Simon Fang, Regional Sales Director for the Asia-Pacific, were present. Regarding the exhibition, COO Wan Bin remarked, “KEENON is delighted to showcase our latest technological advancements alongside Truly Robotics. We remain committed to exploring the limitless potential of service robot technology to provide our global customers with high-quality, comprehensive robotic solutions.”

As a provider of robotics products and solutions, Truly Robotics offers a diverse range of technologies, spanning from the Internet of Things to artificial intelligence and facility management. Janice Yee, CEO of Truly Robotics, commented, “At Truly Robotics, we are proud to be working closely alongside KEENON to offer innovative robotics products and solutions to help our clients in achieving optimal outcomes for their business processes. The deployment of KEENON robots has been successfully proven to create optimal operating efficiency for our clients. We stand ready to support our clients in their journey of adoption of robotics products and solutions.”

The exhibition runs until October 25 at Hall 4 of the Singapore Expo, booth 4K1-01. We invite everyone to visit and see the latest advancements in service robotics.

About KEENON Robotics

A global leader in commercial service robots and solutions, KEENON Robotics has been at the forefront of the advanced service robot market since 2010. Harnessing cutting-edge technologies in robotics and cloud computing, the company is trusted by businesses worldwide. KEENON Robotics is dedicated to creating value, fostering innovation, and contributing to industry growth across various sectors.

For more information, please visit https://www.keenon.com/ 

About Truly Robotics Pte Ltd

Truly Robotics aspires to be the leading service robots company in Singapore. The key focus of the company is on helping the clients to improve its productivity and efficiency through the adoption and deployment of cleaning and service robotics products and solutions.

For more information, please visit https://www.trulyrobotics.com.sg

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SOURCE KEENON Robotics

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