The mass spectrometry market at a CAGR of 8.1% during the forecast period (2016–2022). According to P&S Intelligence, the market generated revenue of $4,948.3 million in 2015.
A number of factors, such as the rising food safety concerns, surging demand for mass spectrometry in life sciences applications, increasing healthcare expenditure, growing emphasis of pharmaceutical companies on achieving good distribution practice (GDP) and good manufacturing practice (GMP) certifications, and rising technological advancements in mass spectrometry devices, are projected to drive the growth of the mass spectrometry market at a CAGR of 8.1% during the forecast period (2016–2022).
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One of the prime factors aiding the mass spectrometry market advance is the rising concerns for food safety. The surging presence of chemicals, toxins, and pathogens in food products has become a key health concern across the world. Thus, the adoption of mass spectrometry by government organizations and food manufacturing companies is rising for the identification of microorganisms, to maintain the quality of the food. Therefore, the rising emphasis to improve the quality of food products will drive the market growth during the forecast period.
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Moreover, mass spectrometry is widely used in life sciences applications, like the identification of proteins from peptide fragments, protein structure determination, chemical modifications, absolute or relative quantification of proteins in a sample, protein digestion, enzyme reaction monitoring, detection of disease biomarkers, and forensic analysis. Also, the surging number of research and development (R&D) activities in this field is projected to generate a high demand for mass spectrometry equipment in the coming years. Furthermore, the rising prevalence of metabolic diseases also drives the market.
The mass spectrometry market is quite competitive in nature due to the presence of several key players. Some of the major companies offering equipment for mass spectrometry include Danaher Corporation, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation, Shimadzu Corporation, Waters Corporation, Dani Instruments S.p.A., PerkinElmer Inc., Protea Biosciences Group Inc., Jeol USA Inc., Microsaic Systems PLC, Elico Ltd., LECO Corporation, and Endress+Hauser Inc.
Thus, the surging healthcare expenditure and the increasing food safety concerns are expected to propel the market growth during the forecast period.
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