Global Activation Analysis Market is Estimated to Witness High Growth, Owing to Increasing Demand from Healthcare and Rising Investments in R&D
Global activation analysis market is estimated to be valued at USD 385.2 Mn in 2024, exhibiting a CAGR of 5.6% over the forecast period (2024-2031). Furthermore, increasing application of activation analysis in assessing trace element content and impurities in samples are expected to boost the market growth.
Market Dynamics:
Global activation analysis market growth is driven by increasing demand from the healthcare industry and rising investments in research and development. Activation analysis techniques such as neutron activation analysis and charged particle activation analysis are widely used in healthcare for elemental analysis in various medical samples including tissue, blood, urine, etc. This helps doctors and researchers gain important insights into metabolic disorders and diseases. Moreover, various government bodies and private companies are investing heavily in laboratory infrastructure and R&D activities utilizing activation analysis. This is expected to support the adoption of advanced activation analysis instruments and accessories over the forecast period. However, short half-life of radioisotopes used in activation analysis poses challenges in terms of radioactive waste disposal and risks associated with exposure to radiation. Stringent regulations pertaining to the safe handling and disposal of radioactive materials can also hinder market growth to some extent.
Increasing Demand from Medical Industry is Driving Growth in Global Activation Analysis Market
The medical industry is increasingly relying on activation analysis techniques for various applications like disease diagnosis, drug discovery, and development. Activation analysis allows the detection of trace elements in biological samples which can help identify nutritional deficiencies and various medical conditions. It is also useful in metabolomic and proteomic research aimed at better understanding diseases. With growing focus on personalized medicine, the demand for activation analysis from medical research and clinical testing is witnessing strong growth. The ability of activation analysis methods to conduct multi-element analysis with high sensitivity makes it suitable for various bioanalysis applications involving low sample volumes. This growing reliance of medical applications on activation analysis is a key driver stimulating growth in the market.
Stringent Regulations Regarding Food Safety is another Growth Driver
Stringent regulations enforced by governments and regulatory bodies worldwide regarding food safety and quality are also fueling the demand for activation analysis techniques and solutions. Food producers and manufacturers are mandated to perform elemental analysis of food products to ensure compliance with food standards. Activation analysis allows the identification of contaminants as well as quantification of nutrients, vitamins, and minerals present in food. The technique is commonly used in testing and analysis of products in food industries such as meat, dairy, cereals, and packaged food. The implementation of strict norms and provisions to ensure food safety for consumers is propelling food enterprises to increasingly adopt activation analysis, thereby driving growth in the market.
High Capital Investment Requirements act as a Market Restraint
One of the major restraints hampering the growth of global activation analysis market is the requirement of high capital investments for setting up activation analysis facilities. Advanced activation analysis systems and instruments are usually high-priced owing to their complex designs and addition of multiple detectors or modules. Enterprises have to invest significant capital for the procurement of requisite equipment like accelerator systems, gamma spectrometers, neutron generators, and associated hardware and software. The maintenance and operation of activation analysis infrastructure also involve recurring costs. This high initial investment and operating expense prevents many small and medium laboratories from adopting activation analysis techniques, slowing down the growth momentum of the market.
Lack of Skilled Workforce poses a Challenge
Another restraint for the activation analysis market expansion worldwide is the lack of skilled workforce with expertise in operating advanced activation analysis instruments and interpreting the analytical data efficiently. Activation analysis requires trained technicians and scientists with practical knowledge of sample preparation, instrument operation, gamma spectroscopy, and data analysis using specialized software. However, there is a severe shortage of trained professionals globally with qualifications specific to activation analysis. This dearth of skilled human resources capable of handling complex activation analysis projects and studies acts as a challenge limiting penetration of the technology across end-use industries. Market growth of activation analysis depends on continuous education and training programs to develop skilled workforce.
Emerging Applications in Environmental Monitoring present Opportunities
One of the key growth opportunities for stakeholders in the activation analysis market is the rising scope of applications in the domain of environment monitoring and management. Activation analysis techniques help detect presence of toxic heavy metals in soil, sediment and water samples, providing valuable data to environmental agencies. Elements analysis using activation methods aid ecological risk assessment and remediation of contaminated sites. They also support monitoring of air quality through studying particulate concentrations. Furthermore, activation analysis finds increasing use in the characterization of materials ensuring recyclability and sustainability. The growing need for pollution control and preservation of ecosystem has opened up new avenues for the deployment of activation analysis by environmental organizations globally.
Opportunities in the Development of Portable Instruments
Development of portable and field-deployable activation analysis instruments also presents significant opportunities for equipment manufacturers in the market. Conventional activation analysis systems are usually fixed laboratory setups. However, miniaturization of electronics and integration of detectors is allowing development of handheld and compact activation analysis devices. Such portable instruments expand the scope of on-site analysis for applications like industrial process monitoring, field-based environmental testing, and in-situ extraction industry projects. Their commercialization will help increase the accessibility of activation analysis and drive higher adoption across sectors. Market players stand to benefit immensely by continuous R&D towards designing portable activation analysis instruments.
Link - https://www.coherentmarketinsights.com/market-insight/activation-analysis-market-5306
Key Developments:
- In April 2022, AMETEK Haydon Kerk Pittman (HKP), a division of AMETEK, Inc., known for its expertise in electronic instruments, launched a new size of its IDEA Motor series, introducing a 57mm brushless DC motor
- In February 2022, EDAX LLC, a leader in X-ray microanalysis and electron diffraction instruments, unveiled the Clarity Super, a new addition to its Electron Backscatter Diffraction (EBSD) product range. This new model joins the previously released Clarity, which is now renamed as Clarity Plus. EDAX LLC is a subsidiary of AMETEK, Inc.
- In August 2021, Thermo Fisher Scientific Inc., a global leader in scientific services, announced its acquisition of Henogen SA, a Belgian manufacturer known for its viral vector production. The acquisition was made from Groupe, a French pharmaceutical company, and Mesa Biotech, Inc., a diagnostic company based in the U.S. This strategic move enhances Thermo Fisher’s biologics manufacturing expertise, particularly in the production of gene therapies and vaccines.
Key Player:
PerkinElmer, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Bruker Corporation, Rigaku Corporation, Horiba Ltd., Malvern Panalytical, SGS SA, Intertek Group plc, Bureau Veritas S.A., Element Materials Technology, Eurofins Scientific, Medallion Analytics, KPMG International, and Valspar Corporation
