Product Technology Innovation Propels Strong Growth of Asia-Pacific Mass Spectrometry Market
Collaboration among market majors and research institutes will speed up the pace of innovation, finds Frost & Sullivan's Measurement & Instrumentation team
SINGAPORE, Nov. 8, 2017 /PRNewswire/ -- The mass spectrometry market is expected to exhibit strong growth in Asia-Pacific due to technology advancements, growing end-user industries, rapid evolution of healthcare, life science research, and increasing support and funding from governments. Product and technology innovation is driving a transition from traditional systems to high-resolution technologies such as matrix-assisted laser desorption/ionization-time of flight (MALDI-TOF). The resulting improvement in accuracy, resolution and sensitivity will open up a host of opportunities in clinical diagnostics, environmental testing, and food and beverage testing.
Frost & Sullivan's market research, Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021, finds that North Asia, comprising of Japan, Taiwan and South Korea, accounted for 65.6 percent of the total mass spectrometry market in Asia-Pacific and is expected to register a compound annual growth rate (CAGR) of 9.1 percent from 2016 to 2021. The growing pharmaceutical industry, increasing healthcare support from the government, and adoption of new applications in applied markets are key factors driving North Asian market growth.
To access more information on this analysis, please visit: https://goo.gl/aMn5Mh
"Although triple quadrupole liquid chromatography-mass spectrometer (LC-MS) systems dominate the market due to the need for increased sensitivity and specificity, advanced technologies such as TOF LC-MS, MALDI-TOF are expected to grow at a fast pace because of their high-resolution capabilities," said Frost & Sullivan Measurement & Instrumentation Research Analyst Sneha Ayyar. "The tandem quadrupole liquid chromatography-mass spectrometer segment is anticipated to register a CAGR of 8.5 percent from 2016 to 2021."
The Asia-Pacific market generated revenues of US$476.6 million in 2016 at a growth rate of 7.5 percent. North Asia outpaced South East Asia (SEA) and Australia and New Zealand (ANZ) in terms of revenue. However, SEA-ANZ holds significant potential for higher growth due to increasing investments and advancements in various industries. Other factors driving growth include:
- Expanding use of mass spectrometers in the pharmaceutical and biopharmaceutical industries, along with growing adoption in applied markets, clinical analysis, and life science;
- Miniaturization of the equipment to aid surgery and surgical resection;
- Regulatory compliance testing, specifically in food testing and environmental industries; and
- Adoption spurred by product launches with sizable improvements in sensitivity, resolution, speed, and throughput.
"The market is beset by long replacement cycles of seven to 10 years. However, collaboration among market majors and research institutes will speed up the pace of innovation, which can prompt end users to upgrade their systems faster, breaking the replacement cycle," noted Ayyar.
Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021 research forms part of Frost & Sullivan's Test & Measurement Growth Partnership Subscription program. The study analyzes key market metrics, including drivers, restraints, forecasts and trends. Segment analysis for single quadrupole LC-MS, tandem quadrupole LC-MC, TOF LC-MS, GC-MS, MALDI-TOF LC-MS, and IPC-MS are provided, with industrial sector and applied market verticals assessed. Competitive and market share analysis for major players such as Agilent Technologies, Thermo Fisher Scientific, Water Corporation, AB Sciex, Shimadzu Scientific Instruments, and Bruker are discussed.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021
P9CB-30
Contact:
Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]
Melissa Tan
Corporate Communications – Asia-Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]
SOURCE Frost & Sullivan
Share this article