The trace chemical detector market is projected to experience significant growth, with revenue anticipated to increase at a compound annual growth rate (CAGR) of 7.2% from 2019 to 2027. This growth is driven by heightened security concerns across various sectors, including defense, homeland security, and industrial safety, necessitating advanced detection technologies. The rising incidence of chemical threats and the need for stringent safety measures are further propelling the demand for trace chemical detectors.
In the recent past, an inspection of healthcare-related products has become highly stringent to mitigate the consequences of ill-practices on patient health. On this premise, tests such as stability testing, shelf-life testing, and expiration date testing are mandatory in the pharmaceutical and healthcare industries. The rising stringency and number of tests are expected to drive the demand for the trace chemical detector market.
In addition to the healthcare industry, trace chemical detectors are finding significant adoption in the defense sector for applications such as chemical weapon detection, narcotics detection, hazardous chemical detection, trace explosives detection, and VIP security. This will equally complement the growth of the market for the years to come.
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Likewise, the emergence of e-commerce has expanded accessibility of diverse end-use specific detectors, such as portable instruments for mobile usage and benchtop instrument for laboratory testing application, are fuelling the overall market growth.
“Market players focusing on expanding their geographical footprint to Western European and the North American to leverage the high government expenditure of defense and healthcare, which necessitates trace chemical detectors”, opines FMI.
Trace Chemical Detector Market – Key Takeaways
- The global trace chemical detector market was valued at US$ 2 Mn 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.
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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 Segmentation
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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