Global Mass Spectrometry Market Size Expected To Expand At Around 6.42% CAGR During 2024–2032
As per the analysts at Zion Market Research, the global mass spectrometry market is projected to register around 6.42% CAGR during the forecast period reaching a value of about USD 9.82 billion by 2032 from about USD 5.67 billion in 2023.
The global mass spectrometry market is extremely competitive and includes a few prominent players. Such as Bruker Corporation, Agilent Technologies, Dani instruments S.P.A, Danaher Corporation, Perkin Elmer Inc., Leco Corporation, Thermo Fisher Scientific, Waters Corporation, and Shimadzu Corporation, among others.
Rising Highlight On R&D Activities Projected To Drive The Growth Of The Global Market
The growth of the global mass spectroscopy market is primarily boosted by the rising implementation of the mass spectrometry method, particularly in the life sciences industry comprising biotechnology, pharmaceutical manufacturing, and other disciplines; the rising spotlight on R&D in the healthcare industry resulting in elevated spending by regional governments & leading market players; the increasing need for novel & sophisticated equipment & instruments from end-users globally; and the rising count of CROs (contract research organizations). This, in order, is projected to boost the growth of the global mass spectrometry market during the forecast period. Nevertheless, the escalated price of the method and rise in the count of alternate analytical devices for life science applications, in which the rising count of innovative products are being presented by market players are few key factors expected to hamper the growth of the global mass spectrometry market.
By Platform, Triple Quadrupole Segment Anticipated To Capture Considerable Market Share
At present, tandem mass spectrometry devices are in demand the most. Conventional hospital diagnostic assays are based on immunoassay and clinical chemistry methods that need analyte-specific antibodies and reagents. LC-MS/MS-based methods are deemed reagent-free. The higher sensitivity and specificity of LC-MS/MS prevail over several restraints related to the traditional immunoassays, like cross-reactivity and non-specific antibody binding. There is an escalated need for hybrid instruments, like quadrupole time-of-flight mass spectrometer, triple quadrupole mass spectrometer, and so on. At present, the triple quadrupole MS is deemed to be among the most high-end devices and several labs around the globe are using this instrument.
North America Is Expected To Lead The Global Market During The Forecast Period
Regionally, the global mass spectroscopy market is projected to be governed by North America during the forecast period. This regional growth can be attributed to factors such as the rising R&D activities, mounting use of sophisticated products, and increasing spending in R&D in North America. Furthermore, the Asia Pacific market is also projected to witness a substantial growth rate in the years to come as a result of the rising count of contract research organizations and increasing programs by the government for pharmaceutical R&D in the region.
Mass Spectrometry Market: Competitive Analysis
The global mass spectrometry market is dominated by players like:
- LECO
- Bruker
- Waters Corporation
- Agilent Technologies
- DANI Instruments S.p.A.
- Thermo Fisher Scientific
- Danaher Corporation
- Perkin Elmer Mx
- SHIMADZU CORPORATION
The global mass spectrometry market is segmented as follows:
By Platform
- Single Mass SpectrometryQuadrupoleTime-Of-Flight (TOF)ION Trap
- Hybrid Mass SpectrometryFourier Transform Mass Spectrometry (FTMS)Triple QuadrupoleQuadrupole TOF (Q-TOF)
- Other Platforms
By Application
- Pharmaceutical Applications
- Biotech Applications
- Petrochemical Applications
- Environmental Testing
- Food & Beverage Testing
- Other Applications
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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