The atomic spectroscopy market is expected to grow at a CAGR of 8% during the forecast period. Increased funding by government organizations, focus on new molecule discovery for drug development, and Technological advances in atomic spectroscopy to improve efficiency and desi are some of the significant factors fueling atomic spectroscopy market growth.
Increased funding by government organizations
Atomic absorption spectroscopy (AAS), ICP-OES, and ICP-MS are some of the commonly used atomic spectroscopy techniques in the accurate analysis of food content, nutritional labeling, contamination detection, and determination of authenticity. These analytical testing procedures are essential for regulatory compliance and quality assurance. Favorable regulatory policies regarding food safety testing have increased the demand for atomic spectroscopy systems globally. The US FDA, China Food and Drug Administration (CFDA), EU (European Union), Food Safety and Standards Authority of India (FSSAI), and Pharmaceutical and Food Safety Bureau (PFSB), Japan, are some of the regulatory organizations for food safety.
These regulations have been mandated owing to the rising cases of foodborne illnesses across the globe. For instance, according to the Centers for Disease Control and Prevention (CDC), in the US, 48 million people are getting affected due to foodborne illness, and about 128,000 people are getting hospitalized every year. Such issues regarding food safety have resulted in the adoption of food safety and contamination testing by food and beverage processing industries. Atomic spectroscopy offers an efficient solution for the detection of heavy metals, nutrient content, toxins, and pesticides in food samples, which made it a widely adopted technique for regulatory compliance in the food and beverage industry.
Furthermore, the demand for atomic spectroscopy systems in the food and beverage testing is expected to increase during the forecast period, owing to the rising demand for processed foods and beverages and increasing food consumption. For instance, according to the Food and Agricultural Organization (FAO), food demand is expected to increase due to the rising world population. According to the organization, feeding a world population of 9.1 billion by 2050 is expected to demand an increase in food production by about 70%.
