x-ray photoelectron spectroscopy Market

The global X-Ray Photoelectron Spectroscopy is expected to reach US$ 896.90 Mn in 2027 from US$ 554.07 Mn in 2019. The market is estimated to grow with a CAGR of 6.2% from 2020-2027.

Driving factors of the high flow nasal cannula are increasing demand for high performance materials and increasing funding by private bodies in R&D. Also, increasing acceptance of home oxygen therapy is likely to have a positive impact on the growth of the market in the coming years. Besides, development opportunities in emerging countries is expected to have a positive effect on the growth of the market in the forecast years.

In order to increase research and development activities, various public and private agencies or organizations are providing funds to the researchers to meet the increasing demand for technical innovation in several countries across the world. Several research activities are carried out by the biopharmaceutical companies and pharmaceutical companies to intensify the preference for technologically advanced XPS devices to boost the market growth in the upcoming years.

For instance, in August 2019, Binghamton University, State University of New York, acquired a new X-ray tool named HArd X-ray Photoelectron Spectroscopy system (or HAXPES), useful in materials research and R&D for electronics. The instrument, HAXPES, enables researchers to get detailed information about a material or device without taking it apart.  The cost of the system is $1.75 million, which is the third of its type in the world and the very first type outside Europe. The system was funded by $1.23 million from the National Science Foundation's Major Research Instrumentation program and additional money funded by the campus.
Thus, the increasing initiatives and funds incurred by private or public organizations are expected to drive the sales of X-ray photoelectron spectroscopy, thereby propelling the growth of the market over the forecast years.

The global x-ray photoelectron spectroscopy is segmented by product type, usage, application. Based on the product type, the market is segmented into monochromatic x-ray photoelectron spectroscopy, and non-monochromatic x- ray photoelectron spectroscopy. The monochromatic x-ray photoelectron spectroscopy segment is expected to dominate the product type segment market due to the benefits offered by monochromatic x-ray photoelectron spectroscopy over non-monochromatic x- ray photoelectron spectroscopy. Based on the usage, the market is segmented into element detection, contamination detection, density estimation, empirical formula determination, and others. The element detection segment held the largest share of the application segment during the forecast period. Similarly, based on the application, the X-ray photoelectron spectroscopy is categorized as healthcare, aerospace, automotive, and others. The healthcare segment held the largest share of the application segment during the forecast period.

Some of the essential primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), World Bank, Emirates Development Bank, King Abdullah University of Science and Technology, among others.