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The Asian Region to Offer Significant Growth Opportunities to the Mass Spectrometry Market in the Coming Years
The global mass spectrometry market is witnessing a significant growth and will continue to do so in the next five years. The factors contributing to this growth are the improved funding scenario worldwide, the increasing number of government-sponsored research activities, and developments in drug discovery research. The Asian region is projected to have the highest growth rate with growth centered on China, India, and Japan. Apart from Asia, countries such as Brazil and South Africa are also expected to grow at a high rate.
In the Asian region, China is the leader in the mass spectrometry market. Most key players in the mass spectrometry market focus on China to establish their businesses. Thus, China plays a significant role in driving the mass spectrometry market. In May 2011, Bruker opened its second major applications, training, and service center in Shanghai, while expanding its existing facility in Beijing. This facility aims to provide valuable support for the company’s growing customer base in the government, academic, clinical, and industrial segments. In June 2013, Thermo Fisher Scientific, Inc. invested $9.5 million in its new China Innovation Center in Shanghai. The facility aims to support the company’s growing R&D organization. All the major players have seen steady growth in China with favorable future prospects.
The U.S. and European markets are also witnessing increasing funding for research studies that use mass spectrometry. The governments of various countries in these regions have increased their focus on harnessing mass spectrometry technologies in the research processes. In the U.S., the National Institutes of Health funded the University of Georgia with a grant of $1.2 million for biomedical research. In Europe, Germany has increased its funding for research, and in the U.K.; mass spectrometry is used in the food testing processes. The RoW region is also expected to witness growth in the future. This growth can be attributed to the use of mass spectrometry in the pharmaceutical industry in respective countries.
Mass Spectrometry Market - by Technology (Tandem LC - MS/ Quadrupole/ ICP - MS/ Gas Chromatography - MS/ TOF - MS/ MALDI -TOF/ Fourier Transform - MS) & by Application (Pharmaceutical/ Biotechnology/ Environment/ Food & Beverages) - Global Trends & Forecast to 2018
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