Global Laser-Induced Breakdown Spectroscopy Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Laser-Induced Breakdown Spectroscopy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global laser-induced breakdown spectroscopy market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global laser-induced breakdown spectroscopy market size reached US$ 268 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 387 Million by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
Laser-induced breakdown spectroscopy (LIBS) is an analytical technique used in various scientific and industrial applications. It involves the use of a high-energy laser pulse to generate plasma from a sample, and the analysis of the emitted light to determine the elemental composition of the material. It provides fast results, making it suitable for real-time analysis in fields, such as metallurgy, environmental monitoring, and material characterization. It can simultaneously detect multiple elements within a sample, allowing for comprehensive elemental profiling. It can be used for remote analysis, making it valuable for applications in space exploration and hazardous environments. As it requires minimal or no sample preparation, reducing time and cost compared to other analytical methods, the demand for LIBS is rising across the globe.
Global Laser-Induced Breakdown Spectroscopy Market Trends and Drivers:
Continuous advancements in laser and detection technologies are improving the performance and capabilities of LIBS systems. Higher energy lasers and more sensitive detectors are enhancing the precision and accuracy of elemental analysis, which is propelling the growth of the market. Moreover, industries, such as metallurgy, mining, and pharmaceuticals, require accurate and rapid elemental analysis and LIBS offers a non-destructive and multi-elemental solution that meets these needs. In addition, the growing concerns about environmental pollution and contamination necessitate efficient analytical tools. LIBS can quickly identify and quantify pollutants in air, soil, and water, making it indispensable for environmental monitoring agencies. Besides this, the ability of LIBS to perform remote analysis is expanding its use in fields like space exploration and defense. The capability of LIBS to analyze materials from a distance is crucial for assessing unknown or hazardous environments, which is impelling the growth of the market. Additionally, LIBS finds applications in art restoration and cultural heritage preservation, as its non-invasive nature allows conservators to analyze artworks and historical artifacts without causing any damage. Furthermore, the escalating demand for LIBS in the pharmaceutical industry for drug formulation and counterfeit drug detection is contributing to the market growth.
Global Laser-Induced Breakdown Spectroscopy Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
Applied Spectra, Hitachi High-Tech Analytical Science, Rigaku Corporation, SciAps Inc., SECOPTA analytics GmbH, Thermo Fisher Scientific Inc., etc.
The report segmented the market on the basis of region, product and end user.
Breakup by Product:
• Handheld
• Desktop
Breakup by End User:
• Academic and Research Institutes
• Pharmaceutical and Biotechnology Companies
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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