Recent technological advancements in XRD, coupled with increasing usage of advanced X-ray powder diffraction technique in wide range of applications are major factors driving growth of the market over the forecast period. In addition, mobility and efficiency of portable XRD analyzers is another factor expected to support growth of the target market over the forecast period.
The global X-ray diffractometer (XRD) market was valued at around US$ 0.4 Bn in 2017, and is expected to register a CAGR of 4.9%. The first five-year cumulative revenue (2017–2021) is projected to be over US$ 2.1 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.
The global X-ray Diffractometer (XRD) market report has been segmented on the product type, application, and region.
Based on product type, the global X-ray Diffractometer (XRD) market is segmented based on X-ray powder diffraction, and single-crystal XRD. The X-ray powder diffraction segment accounted for highest revenue share contribution as compared to single-crystal XRD, and is expected to maintain its dominance over the forecast period with comparatively higher CAGR of over 5.0% between 2017 and 2026. Increasing demand for X-ray powder diffraction for analysis of new drug molecules is expected to be a major factor propelling growth of the segment over the forecast period.
Based on application, the global X-ray Diffractometer (XRD) market is segmented based on pharma, biotech, scientific research institutes, and others. The pharma segment accounts for highest revenue share in the global market and the scientific research institutes segment is expected to register highest CAGR of over 5.5% during the forecast period.
The market in Asia Pacific accounted for highest revenue share in the global X-ray diffractometer (XRD) market and is expected to register highest CAGR of over 5.0% over the forecast period.
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Regions in the report include North America, Europe, Asia Pacific, South America, Middle East & Africa, and Rest of the World. The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This is attributed to rising demand for advanced X-ray diffractometer (XRD) for a wide range of applications. Revenue from the market in North America accounted for second-highest revenue share and is closely followed by the market in Europe. Also, the markets in North America and Europe are projected to witness moderate growth over the forecast period.
Prominent players in the global X-ray diffractometer (XRD) market include Bruker Corporation, Malvern Panalytical Ltd., Rigaku Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Dandong Tongda Science & Technology Co., Ltd., and PERSEE ANALYTICS, INC.