The report "Mass Spectrometry Market by Product (Instrument (Triple Quadrupole, Q-TOF, FTMS, Quadrupole, TOF), Software & Services), Sample (LC-MS, GC-MS), Application (Omics, Drug Discovery, Food, Environmental), End User (Pharma, Biotech) - Global Forecasts to 2030", is estimated to reach USD 9.62 billion by 2030 from USD 6.33 billion in 2024, at a CAGR of 7.2% during the forecast period.
Browse 400 market data Tables and 50 Figures spread through 250 Pages and in-depth TOC on "Mass Spectrometry Market by Product (Instrument (Triple Quadrupole, Q-TOF, FTMS, Quadrupole, TOF), Software & Services), Sample (LC-MS, GC-MS), Application (Omics, Drug Discovery, Food, Environmental), End User (Pharma, Biotech) - Global Forecasts to 2030"
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Key factors such as increasing capital expenditure on pharmaceutical R&D across the globe, government regulations on drug safety to ensure quality, growing focus on the quality of food products, increase in crude and shale gas production, and growing government initiatives for pollution control and environmental testing are high growth prospects for the mass spectrometry market during the forecast period. Specifically testing for emerging contaminants like PFAS and microplastics. Such scenario is expected to increase test volumes for MS which will help grow the demand for the mass spectrometry market.
Instruments as product subsegment acquired a major share in the mass spectrometry market.
Based on the product, the mass spectrometry is segmented into instruments and software & services. The hybrid mass spectrometry segment accounts for the largest share of the mass spectrometry market in instrument category. Hybrid mass spectrometers exhibit, rapid and high-resolution testing abilities with more accurate and precise results. Hybrid mass spectrometers incorporate at least two component mass analyzers of different types arranged in sequence from the ion source to the ion detector.
The LC-MS technique by sample preparation technique acquired a major share in the mass spectrometry market in 2023
The advent of new applications of LC-MS for testing emerging contaminants from third-party testing service providers and labs has increased in the last three years. All these conditions have helped LC-MS to acquire a major share in the mass spectrometry market. The use of LC-MS has expanded over the years as it offers both selectivity and specificity in analysis. With advances in mass spectrometry, the sensitivity and accuracy of this technique have further increased, allowing for the detection and identification of low-level analytes in complex sample matrices. Liquid chromatography (LC) is a technique widely used to separate compounds from a sample before analysis and is frequently coupled to mass spectrometry. All these factors have helped LC-MS to acquire major share in the mass spectrometry market.
The OMICS research as an application segment acquired a major share of mass spectrometry market in 2023.
Due to the high sensitivity and selection of mass spectrometry, it has also found applications in genomics research to characterize single nucleotide polymorphisms and short tandem repeats. In metabolomics, mass spectrometry has also shown promising results in diabetes studies, as it helps in distinguishing specific changes in the serum profile of metabolites extracted from healthy people and those with type 2 diabetes mellitus. It is also effective in newborn screening, leading to a portfolio of multiplexing assays for congenital metabolic errors. The OMICS research segment is expected to witness significant growth during the forecast period. The biopharmaceutical and biotechnology industries have facilitated the advancement of diagnostics & biomarker identification applications in the R&D sector, leading to its significant growth and dominance in the industry in the upcoming years.
North America Accounts for the Largest Market Share in 2023 in mass spectrometry market
The region is characterized by extensive technological innovation with well–established healthcare infrastructure. The region houses some of the key players that manufacture mass spectrometers and manage their distributions. Major developments, expansions, deals in last 5 years have been executed in the same region. Macroeconomic indicators like favorable funding scenarios for startups and manufacturing-friendly regulatory frameworks support the market indirectly to grow. All these factors have helped North-America to acquire major share in the mass spectrometry market.
Major Market Players in Mass Spectrometry Market
The key players profiled in the mass spectrometry market are Agilent Technologies, Inc. (US) Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Waters Corporation (US), Bruker Corporation (US), Shimadzu Corporation (Japan), PerkinElmer,Inc. (US), Jeol Ltd (Japan), Jasco (Japan), Teledyne Technologies Incorporated (US), MKS Instruments (US), Ametek, Inc (US), Hitachi High-Tech Corporation (Japan).
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