Growing at a CAGR of 10.2% between 2024 and 2030, the particle counters market value is expected to reach USD 1,069.6 million by 2030. This is attributable to the significant presence of the oil & gas industry, rising expenditure by several countries’ governments on the healthcare sector, imposition of stringent regulations for air quality monitoring, product launches by the top players, and increasing focus on producing high-quality food items.
The Middle East and African oil & gas industry's growing presence is contributing to the market's expansion. E&P firms in the region are increasing their usage of portable liquid particle counters to check for impurities in injected water and water-based hydraulic fluids.
Moreover, there have been a significant number of product launches by the top players to gain a competitive edge. For instance, in May 2021, Particle Measuring Systems released a remote particle counter, namely IsoAir Pro Plus. This product aids in analog and particulate tracking in technologically advanced pharmaceutical production facilities. Furthermore, Beckman Coulter Inc. launched MET ONE 3400 in July 2020. It is a portable airborne particle counter for the monitoring of cleanrooms.
In addition, developing nations, including India, Brazil, China, and Russia, are creating lucrative growth opportunities for the industry. This is because they have significantly increased their expenditure on pharmaceutical research and development in recent years in order to come up with novel medicines.
Furthermore, India is a prominent pharmaceutical market across the globe, holding the third rank on the basis of production by volume and also being a significant supplier of generic drugs worldwide. In addition, Make in India is an initiative by the Government of India that has significantly surged the manufacturing output of the nation and attracted the top industry players to set up their manufacturing units in the country. GE and Siemens are two such leading players that have set up their plants in the nation. With more industrialists establishing manufacturing operations in the country, the market will continue to boom.
The life sciences and medical device category dominates the market, with a share of 35%, in 2023. This is because the significant rise in the incidence of chronic conditions has led to an increase in the demand for novel and more-advanced therapeutic solutions. This has, in turn, led to an increasing spending by the governments of many countries on the medical sector. Moreover, the need for compliance with strict regulations in the medical device and life sciences industry in order to ensure the desired quality of the end product is expected to have a positive impact on the market.
Additionally, the increasing research and development investments and the setup of more pharmaceutical and biotechnological manufacturing plants drive the need for efficient quality control practices. This ensures that the manufacturing facilities are devoid of particulate matter, which, in turn, is propelling the industry expansion.
On the basis of our regional analysis, APAC will witness the fastest growth during the projection timeframe. This is because the rising elderly population and a growing patient pool have resulted in the regional countries increasing their expenditure on healthcare. This, in turn, has led to a boost in medical tourism, thereby necessitating the use of these devices in healthcare centers.
Moreover, many countries in the region are major exporters of semiconductors, including Taiwan, China, Malaysia, South Korea, and Singapore. The usage of particle counting devices in the semiconductor industry is, thus, high in the region. Furthermore, the surge in the number of manufacturing facilities of other industries in countries such as India, China, and Japan are expected to boost the demand for these devices.
Key players in the market are Particle Measuring Systems, Beckman Coulter Inc., RION Co. Ltd., Lighthouse Worldwide Solutions Inc., TSI Incorporated, Climet Instruments Company, Met One Instruments Inc., Particles Plus Inc., Setra Systems, and Chemtrac Inc.