Mass Spectrometry Market Size
The Global Mass Spectrometry Market reached USD 4,830.1 million in 2022 and is projected to witness lucrative growth by reaching up to USD 8,566.0 million by 2031. The market is expected to exhibit a CAGR of 7.6% during the forecast period (2024-2031).
The mass spectrometry market trends show rising demand for these product types and their applications, owing to various advantages of these devices such as utilizing molecular weight analysis, mass spectrometers may be utilized to quantify existing substances, identify unknown compounds, as well as determine the structure and chemical characteristics of molecules.
Depending on the ion-charge ratio, mass spectrometry is an efficient method for finding, classifying, and quantifying compounds. Mass spectrometry has become a valuable tool to evaluate in many biopharmaceutical firms and research organizations due to its sensitivity in these procedures.
Mass Spectrometry Market Summary
| Metrics | Details |
| CAGR | 7.6% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Mass Spectrometry Market Dynamics
Rising R&D Expenditure By The Pharmaceutical Industry Drive The Growth Of The Mass Spectrometry Market.
The global mass spectrometry market is expanding owing to the increase in the utilization of mass spectrometry in metabolomics, proteomics, hospitals, and pharmaceutical for drug discovery and rising trends in the spectrometers miniaturization, new product launches and technological advancements.
The pharmaceutical sector and government research institutions will increase their R&D spending, which will fuel market expansion throughout the projection period. The Organization for Economic Co-operation and Development (OECD) estimates that EU research and development spending as a percentage of GDP was 2.27% in 2021.
The need for mass spectrometers to be used in proteomics, drug development, and pharmaceuticals is anticipated to rise as a result of increased funding in research and development activities, propelling market expansion. Factors like quick test results with excellent resolution were also possible to be increased because of developments in mass spectroscopy technology.
Growing Product Launches And Technological Advancements Create Lucrative Opportunities For Manufacturers.
There is a growing market opportunity owing to high expenditure on research and development proficiencies by key players for novel technological advancements. Several companies are developing novel products and technologies for better studies on proteomics, genomics and drug discovery. The widespread usage of mass spectrometry in the petroleum and metabolomics sectors is also a factor driving the market.
Mass spectrometry technology has advanced as a result of the requirements of applications in the life sciences. A highly sophisticated approach to protein pattern recognition is employed in mass spectrometry MALDI-ToF as a clinical diagnostic tool to identify illnesses. As a result, the market is anticipated to expand throughout the forecast period due to the growing pace of technological advancement. These factors will become an opportunity for the growth of the market.
The Premium Product Pricing Will Hamper The Growth Of The Market.
The market is being impacted because middle or low-budget companies typically cannot get these mass spectrometer instruments. However, spectrometry equipment is more expensive because it comes with more sophisticated features and functionalities.
In addition to the system's purchase price, the system's cost to conform to industry standards is also highly costly. The need for mass spectrometers has increased over time as a result of technological developments and improved operating efficiency.
Mass Spectrometry Market Segment Analysis
The global mass spectrometry market is segmented based on product type, application and region.
Owing to The Advantages, The Tandem Mass Spectrometry Segment Accounted For Approximately 38.5% Of The Mass Spectrometry Market Share In 2022.
Several phases of mass spectrometry selection are used in tandem mass spectrometry, referred to as MS/MS or MS2, and various forms of fragmentation take place between the stages. In tandem mass spectrometry, the mass or charge of an ion is changed by executing a dissociation process or chemical reaction at least twice. Beyond molecular weight separation, MS/MS enhances specificity and offers information on structure elucidation and determining elementary makeup.
Tandem mass spectrometers can be used for many different things. Clinical testing and toxicology, inborn metabolic defects—newborn screening, cancer, diabetes, different toxins, abuse-inducing substances, etc. Drugs and their metabolites' chemical structures are determined via biotechnology and pharmaceutical research, along with the identification and measurement of contaminants in biological fluids and tissues.
Source: DataM Intelligence Analysis (2023)
Mass Spectrometry Market Geographical Share
North America Accounted For Approximately 38.3% Of The Market Share In 2022, Owing To The Strong Presence Of Major Players And Increasing Healthcare Infrastructure Investment.
Due to the rising need for technological advancements in healthcare, manufacturers in North America have chances of enhancing their operations. There are many producers and suppliers in North America and owing to the quick economic growth of the region, industrial production has expanded, driving the demand for mass spectrometry applications.
Increasing expenditure on healthcare and rising awareness among people, advancement of technologies for treatment, and increase in pharmaceutical establishment across the region are also contributing to the market growth in this region. Rising novel product launches to support mass spectrometry usage by biopharmaceutical companies also drives market growth.
Source: DataM Intelligence Analysis (2023)
Mass Spectrometry Market Companies
The major global players in the mass spectrometry market include Agilent Technologies, Bruker Corporation, Danaher Corporation, Hitachi Ltd, JEOL Ltd, LECO Corporation, MKS Instruments, PerkinElmer Inc., Shimadzu Corporation and Thermo Fisher Scientific Ltd among others.
COVID-19 Impact on Mass Spectrometry Market
Russia Ukraine Conflict Analysis
The Russia-Ukraine conflict is estimated to have a low impact on the global mass spectrometry market, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global mass spectrometry market growth over the forecast period.
Key Developments
- In May 2023, Agilent Technologies, a global leader in life sciences, diagnostics and applied markets, announced the availability of the 120-vial Agilent 8697 Headspace Sampler -XL Tray. Customers can now choose between a 48 vial capacity and a 120 vial capacity via the new -XL Tray alternative. Comparing to its predecessor, the 7697A Headspace Sampler, the new Agilent 8697-XL Tray also offers the most recent instrument intelligence capabilities for enhanced uptime and operator ease-of-use.
- In April 2023, Enable Medicine and Canopy Biosciences, Bruker Company, announced cooperation to combine the Canopy CellScape technology for rigorous high-plex spatial biology with Enable Medicine's advanced processing pipelines for spatial omics data. Through the use of Enable Medicine's sophisticated spatial analyses, such as cluster analysis, neighborhood analysis, and advanced data visualization, as well as effective cloud-based computing, data storage, and sharing the partnership will enhance the analytic features of the CellScape system.
- In August 2021, the completion of Danaher Corporation's acquisition of Aldevron was announced. Aldevron will function under Danaher's Life Sciences division as a stand-alone operational company and brand.
Why Purchase the Report?
- To visualize the global mass spectrometry market segmentation based on product type, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of mass spectrometry market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
The global mass spectrometry market report would provide approximately 53 tables, 54 figures and 195 Pages.
