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Mass Spectrometry Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5544

The global mass spectrometry market was valued at around USD 4 billion in 2022, growing at a CAGR of 7-8% from 2023 to 2032. Mass spectrometry is a laboratory method for measuring the quantities of a substance inside a sample as well as traces of elements at low concentrations. It enables researchers to identify complex materials in a single analysis. The sample is first ionized in this procedure through electron loss. The ions are then classified & split depending on their charge and mass, which are measured using a computer.
 

The increasing technological advancements, such as the development of innovative hybrid spectrometers, will buffer the mass spectrometry market growth rate. These spectrometers offer fast & high-resolution testing with greater precision and accuracy. The leading market players constantly focus on enhancing their existing products and launching novel & advanced mass spectrometer equipment. For instance, in May 2020, Thermo Fisher Scientific launched the Orbitrap Exploris 120 mass spectrometer. The high-resolution mass spectrometer features quick-scanning modes and rapid polarity switching. The businesses participate in activities, such as mergers & acquisitions, strategic partnerships, and collaborations, to procure or create modern technologies in the industry.
 

The mass spectrometry market is expected to grow rapidly during the forecast period owing to the increasing pharmaceutical R&D expenditures and expanding government initiatives for pollution control & environmental testing globally. The growing use of mass spectrometry to detect toxins, pathogens, microbes, and chemicals to ensure food quality & safety is another factor driving market outlook.
 

Based on technology, the triple quadrupole (Tandem) segment is poised to account for the highest share in 2023. This technology is an important analytical approach for clinical research analysis as it can detect tiny quantities of biomarkers in complicated biological fluid matrices. The key market players have incorporated this technology into their new product lines. In June 2022, Agilent Technologies Inc. launched new LC/MS and GC/MS quadrupole mass spectrometers. Triple quadrupole MS is a valuable instrument in food testing, drug metabolism, pharmacokinetics, forensic toxicology, environmental investigations, and biological analysis due to its high sensitivity & specificity, which allow for lower detection & quantitation limits.
 

Based on end user, pharmaceutical & biotechnology companies are witnessing expansive gains due to the extensive uses of protein sequencing with mass spectrometry for drug discovery & development processes. The increasing demand for biomolecule analysis and drug component analysis is set to drive segment landscape. With rising investments in biopharmaceutical research and increased R&D opportunities in the proteomics domain, the segment is likely to grow rapidly over the forecast period.
 

The mass spectrometry market is dominated by North America, which is expected to exhibit a similar pattern during the projection period in part due to the increasing R&D funding, extensive use of mass spectrometer equipment in the biological sciences, metabolomics & petroleum industries, as well as the presence of established market participants in the region.
 

The prominent players in the mass spectrometry industry are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Waters Corporation, Danaher Corporation, Shimadzu Corporation, BrU.K.er Corporation, PerkinElmer, Inc., Rigaku Corporation, LECO Corporation, and JEOL Ltd.
 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Frequently Asked Questions (FAQ) :

The global mass spectrometry industry was valued at around USD 4 billion in 2022, growing at a CAGR of 7-8% from 2023 to 2032.

Pharmaceutical & biotechnology companies are witnessing massive traction due to the extensive uses of protein sequencing with mass spectrometry for drug discovery & development processes.

Increasing R&D funding, extensive use of mass spectrometer equipment in the biological sciences, metabolomics & petroleum industries, as well as the presence of established market participants in North America would push product demand.

Prominent names in mass spectrometry market space include Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Waters Corporation, Danaher Corporation, Shimadzu Corporation, BrU.K.er Corporation, PerkinElmer, Inc., Rigaku Corporation, LECO Corporation, and JEOL Ltd.

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