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North America holds a significant share of the analytical instrumentation industry owing to the increasing research and development (R&D) activities in the region. The robust growth of the oil and gas industry in the United States and Canada is surging the deployment of analytical instrumentation to monitor the processing of oil and gas, hence propelling the market growth. Moreover, advancements in life sciences in the region is increasing the deployment of analytical instrumentation, which is significantly contributing to the market growth. As the pharmaceutical industry in the region is witnessing rapid growth, the use of analytical instrumentation, such as chromatography and mass spectroscopy, is increasing. In addition, the various stringent government regulations to ensure the efficacy and safety of drugs is providing further impetus to the market for analytical instrumentation.
Agilent Technologies, Inc (NYSE: A), one of the leading companies in the market, launched two mass spectrometry products in June 2020. The products, Agilent 6470B Triple Quadrupole LC/MS and Agilent RapidFire 400, enable the faster detection of target compounds, increase sample throughput, and boost the time-effectiveness of result generation. The instruments are designed to meet evolving consumer demands for innovative mass spectroscopy products and solve the challenges associated with target compound detection. They also bolster the reliability and increase the overall throughput of mass spectrometry. Agilent RapidFire 400 includes barcode reading capabilities for sample tracking and enables the analysis of about 98,000 samples while reducing lab space requirements. Moreover, the 670B system boosts system uptime while improving the overall system performance for low-level detection in high-throughput environments. Such developments are driving the market growth.
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The major players in the global analytical instrumentation market are Agilent Technologies, Inc, Bruker Corporation, PerkinElmer Inc., Thermo Fisher Scientific Inc., and Shimadzu Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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