Physical Characterization Instrumentation Market Value Projected to Expand by 2026
Characterization can be defined as a process, in which the structure and properties of a material are measured and probed. This is one of the fundamental processes used in the field of material science to obtain a scientific understanding of engineering materials. Physical characterization can be defined as the technique of determining the physical characteristics of active pharmaceutical ingredients (APIs) such as their stability, water uptake, and melting point, among others. The particle size of the drugs influences the physical and chemical properties of the emulsions, liquids, and other compounds in relation to solubility, filterability, flowability, thermal conductivity, bioavailability, and drying properties, among others. Physical characterization is a commonly used technique for the determination of accurate particle size in the laser diffraction method. The physical characterization of the APIs in regards to temperature is determined through differential scanning calorimetry.
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The physical characterization instrumentation market is anticipated to expand at a significant rate during the forecast period. The strong growth can be attributed to a rise in focus on research and development, increase in the sales of physical characterization instruments, rise in government and corporate investments, and technological innovations such as development of high-throughput techniques, among others. In addition, emerging interest in newer fields of science such as nanotechnology, optogenetics, and neuroscience aids in the growth of the physical characterization instrumentation market. However, high cost of physical characterization devices and stringent government regulations governing the approval of these devices are expected to hamper the physical characterization instrumentation market in the near future.
The global physical characterization instrumentation market can be segmented based on method, product, end-user, and region. Based on method, the physical characterization instrumentation market can be classified into scattering, spectroscopy, microscopy, chromatography, calorimetry, and others. The scattering segment can be further divided into X-ray scattering, light scattering, and others. The microscopy segment can be further classified into optical microscopy, electron microscopy, and others. The spectroscopy segment is anticipated to expand at a high growth rate during the forecast period, owing to an increase in demand for research and development in laboratories and ease of effectiveness of infrared or ultraviolet-visible technology. In terms of products, the physical characterization instrumentation market can be segmented into hydrometers, chromatographs, calorimeters, electron microscopes, optical microscopes, spectrophotometers, and others. Based on end-user, the physical characterization instrumentation market can be classified into pharmaceutical companies, academic and research laboratories, and others.
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In terms of region, the global physical characterization instrumentation market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated the market in terms of revenues in 2017 and is anticipated to remain dominant in the coming years. The strong growth of the market in the region can be attributed to an increase in focus on research and development by pharmaceutical companies and the presence of market leading players in the region, among others. Europe was a prominent region of the market in 2017, and is expected to constitute a significant market share in the neat few years. However, the physical characterization instrumentation market in Europe is anticipated to record slow growth over the forecast period, owing to the sluggish economic conditions prevailing in the region. The market in Asia Pacific is anticipated to expand at a high CAGR rate during the forecast period. The growth of the physical characterization instrumentation market in the region can be attributed to technological advances and rise in focus on research and development, primarily in India and China.
Leading players operating in the global physical characterization instrumentation market are Agilent Technologies, Inc., Olympus Corp, Thermo Fisher Scientific, Micromeritics Instrument Corp., ATS Scientific Inc., Malvern Instruments Ltd (a Spectris company), TSI, Inc., Shimadzu Corp., Perkinelmer Inc., Leica Microsystems GmbH, TA Instruments, and others.
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