Sellbyville, DE -- (SBWIRE) -- 01/09/2019 -- The X-Ray Photoelectron Spectroscopy Market to exceed USD 775 million by 2023 as per a new research report.

Growing application of x-ray photoelectron spectroscopy in drug safety and research and favorable reimbursement policies should drive industry growth over the forecast period. Government initiatives to spread awareness regarding contamination of drugs and its formulation, R&D and chemical analysis should further drive x-ray photoelectron spectroscopy market growth.

Advancement in technology and accuracy, highly reliable x-ray photoelectron spectroscopes and easy availability should drive business growth. Furthermore, introduction of numerous hyphenated technologies by most of the companies to address complex analytical applications should accelerate demand for x-ray photoelectron spectroscopy. The lack of technical labour force and growing competition from advanced technologies may restrain x-ray photoelectron spectroscopy market growth.

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Government initiatives such as "Drug Safety Information Survey" organized by Health Canada and "Safe Use Initiative" by FDA are raising awareness regarding medical R&D, this will offer producers with lucrative growth opportunities over the forecast timeframe.

Healthcare industry accounted for significant growth over the forecast period. The growing research in spatial control of biomolecules and cells for applications like array technologies and tissue engineering is attributed for its high use. Increasing 3D printing organs and packaging applications in healthcare industry should further drive x-ray photoelectron spectroscopy market growth.

Hard x-ray photoelectron spectroscopy (HAXPES) is the high energy variant of x-ray photoelectron spectroscopy (XPS) was recently developed. It is used in the study of several semiconductor material systems which will drive industry growth over the forecast period.

Contamination detection is the fastest growing use due to growing demand from semiconductors, pharmaceutical, biotechnology and electronic industry. The growth is attributed due to increased application in automotive and semiconductors industries. Empirical formula detection and electronic density estimation accounted for minor revenue share owing to the less use of these procedures as compared to other analyses.

U.S. x-ray photoelectron spectroscopy market accounted for major revenue share in 2015. Implementation of numerous health policies for drug safety by U.S FDA and other regulatory agencies boost the industry over the forecast timeframe.

France x-ray photoelectron spectroscopy Market will experience lucrative rate owing to the increasing requirement of spectroscopy in different industries, favorable reimbursement policies and growing adoption rate of hyphenated technologies.

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India x-ray photoelectron spectroscopy should witness significant growth over the forecast timeline. Presence of large unmet needs, adoption of favorable government policies for spreading awareness regarding commercial environments should drive x-ray photoelectron spectroscopy market.

Prominent Players:

Some of the companies operating in x-ray photoelectron includes Evans Analytical Group, Intertek, Kratos Analytical, Kett, V G Scienta, Mitsubishi Electric, Thermo Fisher Scientific and Yokogawa. Merger & acquisition and expansion of product portfolio are the key strategies adopted by leading players to sustain their market position.