$6.8 Billion Opportunities in the Mass Spectrometry Market by Technology, Single, Application and End User - Global Forecast to 2028

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Jul 27, 2023, 20:15 ET

DUBLIN, July 27, 2023 /PRNewswire/ -- The "Global Mass Spectrometry Market by Technology (Hybrid (Triple Quadrupole, QTOF, FTMS), Single (Quadrupole, TOF, Ion Trap)), Application (Life Science Research, Clinical Diagnostics, QA/QC), End-User (Pharma-Biotech, Environmental, F&B) - Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.

The global mass spectrometry market is poised to witness substantial growth, projected to reach USD 6.8 billion by 2028 from its current value of USD 4.7 billion in 2023, with a steady CAGR of 7.5% during the forecast period.

A key driver contributing to this growth is the increasing advantages that mass spectrometry offers in therapeutic applications, which is expected to fuel market expansion in the coming years.

In terms of product segmentation, the instruments segment is anticipated to hold the largest share of the market in 2023. This dominance is attributed to the instruments' exceptional high throughput screening capabilities, rapid and high-resolution testing abilities, and their versatile applications across various fields.

Within the sample preparation technique category, LC-MS is expected to be the dominant segment during the forecast period. This growth is due to the broad applicability of LC-MS to meet the rigorous demands of the analytical market and various industries.

The OMICS research segment is projected to register the highest CAGR during the forecast period in terms of applications. This segment includes life science-related research such as Genomics, Proteomics, and Metabolomics.

Among the end-user segments, pharmaceutical companies held the largest share of the global mass spectrometry market in 2022 and are expected to witness the highest CAGR during the forecast period. Stringent regulatory guidelines for drug development and safety, along with government and corporate funding for pharmaceutical research, are major factors driving this growth.

Geographically, North America is expected to hold a significant market share for mass spectrometry in 2022. The region's growth is fueled by increasing investments in pharmaceutical R&D and government funding for research activities.

Overall, the mass spectrometry market shows promising prospects across different segments and geographies, driven by its wide-ranging applications and the benefits it brings to various industries and research fields.

Competitive Landscape

The prominent players in the mass spectrometry market are SCIEX AB (US), Thermo Fisher Scientific (US), Agilent Technologies (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), among others.

Market Overview and Industry Trends

Drivers

Technological Advancements in Mass Spectrometers
Government Initiatives for Pollution Control and Environmental Testing
Increasing Spending on Pharmaceutical R&D
Government Regulations on Drug Safety
Growing Focus on Quality of Food Products
Increase in Crude and Shale Gas Production

Restraints

Premium Product Pricing
Opportunities
Growing Opportunities in Emerging Markets

Challenges

Dearth of Skilled Professionals

Industry Trends

Increasing Adoption of Hyphenated Technologies
Tie-Ups Between Analytical Instrument Manufacturers and Research Laboratories/Academic Institutions
Global Regulatory Guidelines
Key Regulatory Agencies

Companies Mentioned

Advion
Agilent Technologies
Analytik Jena
Bruker Corporation
Elementar
Extrel CMS
Hiden Analytical
Hitachi Hi-Tech Group
Jasco Corporation
Jeol Ltd.
Kore Technology
Leco Instruments
Masstech
Microsaic Systems
Mks Instruments
Nu Instrument
Perkinelmer Inc.
Pfeiffer Vaccum
Rigaku
Sciex Ab
Scion Instruments
Shimadzu Corporation
Skyray Instrument
Spacetek Technology
Teledyne Flir LLC
Thermo Fisher Scientific
Waters Corporation
Yl Instruments

For more information about this report visit https://www.researchandmarkets.com/r/wm0qy1

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