Mass Spectrometry Market Growth, Trends and Forecast up to 2024
Mass spectrometry is one of the prominently used analytical method in life science and pharmaceutical industry. This technique helps to identify various chemical components present in the sample. Mass...
Mass spectrometry is one of the prominently used analytical method in life science and pharmaceutical industry. This technique helps to identify various chemical components present in the sample. Mass spectrometry technique is used to identify molecule in simple as well as complex mixture by measuring mass to charge ratio. Moreover, it is also used to quantify specific molecules identified in the sample. This analytical technique is widely used in laboratories, which boosts the study related to chemical and biological properties of compounds. Mass spectrometry is basically used in characterizing and sequencing of peptide chains.
The Worldwide Mass Spectrometry Market is experiencing high competition due to presence of large number of players. The market is experiencing continuous advancement in terms of technology and features offered with mass spectrometry. The substantially demanded platforms in past couple of years are Triple Quadrupole LC/MS and Q-TOF. Few factors driving the customer choice of particular mass spectrometer are speed, sensitivity, resolution and throughput.
Being a fragmented market, companies have adopted red ocean strategy by delivering the product through developing clinically-focused instruments, integrating multiple technologies and diminishing performance trade-offs. In addition, competitors are looking to adopt the general life science trend of miniaturization to bring the technology to lower-budget laboratories. Thus the rising use of mass spectrometry in metabolomics, proteomics, pharmaceutical industry and increasing inclination towards low budget laboratories by miniaturization is anticipated to drive the market.
Mass Spectrometry Market: Segmentation
The mass spectrometry market across the globe is classified based on technology and application. By technology, mass spectroscopy is further categorized as inductively coupled plasma mass spectrometry, gas chromatography-mass spectrometry, matrix – assisted laser desorption/ionization-time of flight spectrometry, liquid chromatography-mass spectrometry, quadrupole-time of flight liquid chromatography-mass spectrometry, triple-quadrupole liquid chromatography-mass spectrometry and others. Matrix – assisted laser desorption/ionization-time of flight spectrometry is growing at a faster pace as compared to rest of the sub segments globally. The increase in demand was observed due to the increase in utilization of advanced technology in clinical and diagnostic sector.
Mass spectrometry is widely used in various life-science and chemical industry. Mass spectroscopy market is also categorized under application which is further sub categorized as biotechnology, pharmaceutical, industrial chemistry, food and beverages testing, environmental testing and others. The major contributor for the market is pharmaceutical industry, which is due to increase in drug monitoring activities in order to maintain drug safety. Mass spectrometry is very efficient in drug discovery procedures, which helps to reduce cost of operation and offer a high quality outcome.
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Mass Spectrometry Market: Regional Dynamics
Due to high performing outcomes, mass spectrometry has been used extensively across the globe. Mass spectrometry market is geographically classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America leads the mass spectrometry market globally. Due to active government initiatives in biomedical and biotechnological sector, North America grabbed the larger share in the market. Moreover, due to enhanced facilities, the research on proteomics has also increased to wider extent which leads to boost the mass spectrometry market. The major market in North America is U.S. followed by Canada.
Europe is among the established markets for mass spectrometry. Germany, France, Spain, Italy and U.K. are the major markets in the European region. However, many companies are setting up their manufacturing and research units in Asia. Moreover, increasing number of promotional activities like conferences, exhibitions has potentially developed the Asian market for Mass spectroscopy. Due to these activities, Asian market for mass spectrometry is anticipated to increase with high growth rate. The countries like China, India and Japan are anticipated to increase with higher growth rate for mass spectrometry market in Asia.
Mass Spectrometry Market: Competitive Insight
Globally, the mass spectroscopy market is dominated by Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Danaher Corporation, Waters Corporation, Shimadzu Corporation, Bruker Corporation, Agilent Technologies and PerkinElmer, Inc.
Factors such as increased government and research spending in pharmaceuticals, high quality monitoring in food and beverages industry, and continuous introduction of advanced technology in mass spectrometry drives the market. However, the factors like high cost of mass spectrometer, lack of skilled and trained personnel to operate the instrument, etc. are the factors restraining mass spectrometry market globally.
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