Mass Spectrometry Market to grow by USD 2,520.16 million between 2022 and 2027 | The rise in the geriatric population drives the market

NEW YORK, Aug. 11, 2023 /PRNewswire/ -- Technavio, a leading provider of industry news and insights, is pleased to announce its latest report on the Mass Spectrometry Market. The report highlights the estimated growth and forecast for the market between 2022 and 2027, predicting an increase in market size of USD 2,520.16 million and a rise at a CAGR of 10.08%.

The global mass spectrometry market is primarily driven by increasing research and development investments by pharmaceutical, biotechnology companies, and research institutes to address the rising burden of chronic diseases. This heightened focus on innovative solutions is leveraging mass spectrometry's capabilities in revealing molecular interactions and protein functions, particularly in drug development. The market is further growing in demand for portable mass spectrometers, facilitating broader accessibility and application across diverse industries.

Technavio's report has strategically segmented the mass market into three key dimensions: End-user, Product, and Geography. In terms of end-users, the classification encompasses pharmaceutical and biotechnology industries, chemical and petrochemical industries, as well as other sectors. The product segment is distinctly categorized into instruments, consumables, and services, capturing the diverse components of mass spectrometry technology and its applications. The geographical segmentation encompasses crucial regions including North America, Europe, Asia, and the Rest of the World (ROW), This segmentation provides a comprehensive view of the market, encompassing diverse communication solutions and regions. Furthermore, it examines key trends shaping the companies' landscape and identifies potential challenges faced by market players. To get insights into the key trends, download the sample report here!

The major Mass Spectrometry Market companies include 908 Devices Inc., ABB Ltd., Agilent Technologies Inc, Bruker Corp., Endress Hauser Group Services AG, European Virtual Institute for Speciation Analysis, JEOL Ltd., Kore Technology Ltd., LECO Corp. Perkin Elmer Inc., Rigaku Corp. Shimadzu Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc. and Waters Corp.

These companies are actively implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence and competitiveness in Mass Spectrometry Market.

The global mass spectrometry market is driven by robust investments in research and development within the pharmaceutical, biotechnology, and chemical industries. Mass spectrometry's invaluable insights into molecular interactions and protein functions are propelling its adoption in drug discovery and development. The market is witnessing a notable trend towards portable mass spectrometers, enhancing accessibility and usability. However, the absence of imaging capabilities poses a challenge, particularly in visualizing biological features crucial for pharmaceutical research and biomarker discovery. Technavio provides a report that includes competitive intelligence, highlighting major players' key developments and growth strategies, enabling stakeholders to make informed decisions and stay competitive in the market. To buy the complete report on Mass Spectrometry Market, click here.

Below, are other reports you might be interested with:

Clinical Mass Spectrometry Market: The clinical mass spectrometry market share is expected to increase by USD 1.83 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.03%. This report covers clinical mass spectrometry market segmentation by end-user (healthcare facilities and pharma and biotech companies and research labs and institutes) and geography (North America, Europe, Asia, and ROW).

Spectrometry Market: The spectrometry market size is estimated to grow at a CAGR of 9.65% between 2022 and 2027. The market size is forecast to increase by USD 7,199.81 million. The market size is forecast to increase by USD 1,661.03 million. The report covers segmentation by type (molecular spectrometry, mass spectrometry, and atomic spectrometry), end-user (pharmaceutical and biotechnology industries, chemical and petrochemical industries, and academic institutions and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

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SOURCE Technavio