A new market study by Future Market Insights (FMI) forecasts robust growth for the trace chemical detector market between 2019 and 2027.
Increasing regulatory requirements in healthcare, including mandatory stability, shelf-life, and expiration date testing, are driving the demand for trace chemical detectors. Stringent inspection protocols aimed at safeguarding patient health are expected to further fuel market growth in the pharmaceutical and healthcare sectors.
In addition to healthcare, the defense sector is also driving market expansion. Trace chemical detectors are crucial in applications such as chemical weapon detection, narcotics and explosives detection, and VIP security, all of which are expected to contribute significantly to the market’s growth.
Furthermore, the rise of e-commerce has improved access to a variety of trace chemical detectors, including portable and benchtop models, catering to both mobile and laboratory-based applications, which is further accelerating market growth.Bottom of Form
Trace Chemical Detector Market – Key Takeaways
- The global trace chemical detector market was valued at USD 2 million in 2018 and is projected to progress at a CAGR of 7.2% through the forecast period.
- Based on the type, portable trace chemical detectors are expected to remain the most sought-out detectors owing to their convenience offered by portability features, high accuracy, and safety in terms of operation.
- Healthcare & research is expected to drive the majority of demand as the stringency related to healthcare products continues to increase.
- The defence sector will hold a prominent share in the market value, owing to rising spending to ensure safety across the world.
- Among the wide variety of tests, narcotics and hydrocarbon tests are forecasted to account for the majority of share in the North American region.
Trace Chemical Detector Market – Key Trends
- Advancement of technologies have facilitated the development of precise identification & measurement control devices, narcotics detection system, and hazardous chemical warning systems, and this is positively influencing the growth of the market.
- Rising investments by governments across the world amid geo-political tensions are proliferating the adoption of trace chemical detectors.
Trace Chemical Detector Market – Regional Analysis
- North America and Europe are expected to maintain hegemony over the regional landscape through the assessment period.
- The dominance of these regions is attributed to increased expenditure of research and development activities in the healthcare and defense sectors.
- Asia Pacific is poised to witness healthy growth on the back of swiftly developing infrastructure in emerging economies such as China and India.
Trace Chemical Detector Market – Competitive Landscape
Some of the major market players studied in the report include, but not limited to, Ametek (Ortec), Autoclear, LLC, Westminster International Ltd, Horiba, Bruker, JFE Techno-Research Corporation, Morphix Technologies, Hitachi High-Tech Analytical Science, and Smiths Detection Inc. Market players are leveraging the expansion of e-commerce, to widen their distribution and are investing in technological, aesthetic, and operational innovations of portable chemical detectors.
Trace Chemical Detector Market – Taxonomy
Test Type:
- Narcotics
- Hydrocarbon
- Composites
- Metal & alloys
- Polymers.
Product Type:
- Benchtop
- Portable
End use:
- Security & defence
- Aerospace
- Oil & gas
- Chemical & pharmaceutical
- Healthcare & research.
Application:
- Explosive & narcotics detection
- Building protection
- Subway protection
- Chemical weapon detection
- Petrochemical testing
- Chemical research.
Region:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/trace-chemical-detector-market
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