ICP-OES Spectrometer Market by Key Players, Regions, Company Profile, Growth Opportunity and Challenges by 2027
ICP-OES Spectrometer is an analytical instrument that is used for the detection of chemical elements. It uses the technique of inductively coupled plasma optical emission spectroscopy (ICP-OES) for carrying out its analysis procedure. Certain factors that propel the growth of the ICP-OES spectrometer market include increasing R&D expenditure for the development of better analytical systems and growing technological advancements. The global ICP-OES spectrometer market was valued at USD 521.4 million in 2018 at a CAGR of 7.2% during the forecast period of 2019 to 2025. However, the high cost of instruments and requirement of large capital investment for setting up instrument manufacturing plants is hindering the growth of the global ICP-OES spectrometer market in the forecast period. Currently, the global ICP-OES spectrometer market is dominated by several players. The major players in this market are involved in strategic acquisitions and product launches...