Mass Spectrometry Market Size And Forecast
MassSpectrometry Market was valued at USD 4.48 Billion in 2020 and is projected toreach USD7.30 Billion by 2028, growing at a CAGR of 6.24% from 2021 to2028.
Increasingdemand for automation in diagnostic techniques is expected to drive the growthof the clinical Mass Spectrometry Market. Mass spectrometry helps with avariety of diagnostic analyses, and research in functional genomics,metabolomics, and proteomics. These factors are driving the need for thedevelopment of a cost-effective platform for sample analysis. The Global MassSpectrometry Market report provides a holistic evaluation of the market. Thereport offers a comprehensive analysis of key segments, trends, drivers,restraints, competitive landscape, and factors that are playing a substantialrole in the market.
GlobalMass Spectrometry Market Definition
Massspectrometry is an analytic method that measures the mass-to-charge ionratio. Moreover, it is the most powerful analytical tool used in the lifesciences domain and is utilized for determining unknown components in thesample through the utilization of electrons. Precisely, mass spectrometrymakes use of charged electrons that enters a sample and transforms its contentsinto positive ions. After that, these ions are bifurcated depending on themolecular mass and hence unknown components can be determined. Additionally, mass spectrometry works on three key principles, namely,measuring relative molecular compound mass, knowing the molecularfragmentation, and comparing mass to charge ratio of different compounds inorder to know the unknown chemicals or particulates or compounds present in theprovided sample.
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Clinical massspectrometry is widely accepted in research, specialized clinical laboratories,and its adoption is significantly increasing in routine laboratories. Thecombination of mass spectrometry with gas chromatography (GC) or liquidchromatography (LC) has contributed to the rapid expansion of this technology.Mass spectrometry (MS) has applications in many clinical areas such astherapeutic drug monitoring, drugs of abuse, and clinical toxicology. Clinicalmass spectrometry serves as a quantitative and qualitative analytical tool forthe assessment of complex mixtures in all phases of drug development such asidentification of the lead compound and their conformational details. Clinicallaboratories manage a large number of samples through total automation oranalyzer automation, which is offered by clinical mass spectrometers such asmatrix-assisted laser desorption/ionization (MALDI-TOF). These automatedplatforms assist in the effective processing of increasingly large workloads.Thus, clinical laboratories are among the largest end-users in this market.
GlobalMass Spectrometry Market Overview
In the report,the market outlook section mainly encompasses fundamental dynamics of themarket which include drivers, restraints, opportunities, and challenges facedby the industry. Drivers and restraints are intrinsic factors whereasopportunities and challenges are extrinsic factors of the market.
Increasingdemand for automation in diagnostic techniques is expected to drive the growthof the clinical Mass Spectrometry Market. Mass spectrometry helps with avariety of diagnostic analyses, and research in functional genomics,metabolomics, and proteomics. These factors are driving the need for thedevelopment of a cost-effective platform for sample analysis. As a result,manufacturers are focused on product development and innovations to address thedemand for automated diagnostic tools. For instance, in 2017, Thermo FisherScientific Inc. launched Scientific Cascadian SM Clinical Analyzer at aEuroMedLab event held in Athens, Greece, to use the clinical analyzers with theselectivity and sensitivity of liquid chromatography-tandem mass spectrometry.
In addition,increasing funding in the pharmaceutical and biotechnology industry is expectedto drive the growth of the Mass Spectrometry Market. The R&D expenditure ofpharmaceutical companies has increased significantly over the last two decades.Research activities in the pharmaceutical and biotechnology industries aredriven by investments in key areas, such as biopharmaceuticals and personalizedmedicine. According to the 2018 EU Industrial R&D Investment Scoreboard,the pharmaceutical and biotechnology sector amounts to 18.9% of total globalR&D expenditure. Mass spectrometry plays a key role in the pharmaceuticalindustry, from the early stages of drug discovery to late-stage development andclinical trials. Thus, increasing funding in the pharmaceutical andbiotechnology industry is expected to drive the growth of the Mass SpectrometryMarket.
Moreover,technological breakthroughs in mass spectrometers are expected to drive markettrends. ass spectrometry has emerged as a dominant analytical tool applied tothe pharmaceutical and health life sciences sector. Advance technologies suchas ion mobility spectrometry and capillary electrophoresis are being used forthe separation of complex biological mixtures such as derived peptide products.Increasing use of mass spectrometry in proteomics, metabolomics, andpharmaceutical sectors and growing trends of miniaturization is expected topropel the growth of this market.
However, thecapital investment associated with the installation and maintenance of thesedevices is expected to restrain the growth of the global market. Massspectrometers are largely unaffordable for small diagnostic clinics andlaboratories, especially in emerging economies. Moreover, mass spectrometry islabor-intensive and requires a skilled workforce to operate the devices. Theshortage of skilled operators is expected to hamper the market growth.
Verified MarketResearch narrows down the available data using primary sources to validate thedata and use it in compiling a full-fledged market research study. The reportcontains a quantitative and qualitative estimation of market elements thatinterests the client. The “Global Mass Spectrometry Market” is mainlybifurcated into sub-segments that can provide classified data regarding thelatest trends in the market.
GlobalMass Spectrometry Market Segmentation Analysis
The Global MassSpectrometry Market is segmented based on Platform, Application, and Geography.
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MassSpectrometry Market, By Platform
• Single MassSpectrometry
• Hybrid Mass Spectrometry
• Others
Based onPlatform, the market is bifurcated into Single Mass Spectrometry, Hybrid MassSpectrometry, and Others. The hybrid mass spectrometry segment is expected towitness the fastest growth during the forecast period. Advantages offered byhybrid mass spectrometers, such as rapid and high-resolution testing abilitieswith more accurate and precise results, are increasing its adoption.Consequently, the demand for mass spectrometry devices for high throughputscreening is also growing. The hybrid mass spectrometry segment is furtherdivided into Triple Quadrupole, Quadrupole ToF (Q-ToF), and Fourier TransformMass Spectrometry (FTMS).
MassSpectrometry Market, By Application
• Pharmaceuticaland Biotechnology
• Food and Beverage Testing
• Environmental Testing
• Others
Based onApplication, the market is bifurcated into Pharmaceutical and Biotechnology,Food and Beverage Testing, Environmental Testing, and Others. Thepharmaceutical industry application segment is expected to grow at the highestCAGR. Pharmaceutical industries are among the key end-users of massspectrometers. The Availability of government and corporate funding forpharmaceutical research, growth of the pharmaceutical industry, and thepresence of stringent regulatory guidelines for drug development and safety aresome of the key factors driving the growth of this segment during the forecastperiod.
MassSpectrometry Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis ofGeography, the Global Mass Spectrometry Market is classified into NorthAmerica, Europe, Asia Pacific, and the Rest of the world. North America isestimated to be the largest market for mass spectrometry during the forecastperiod. The Mass Spectrometry Market in North America is driven primarily byfactors such as the growing funding for research and government initiatives inthe US, widespread usage of mass spectrometry in the metabolomics and petroleumsector, and CFI funding towards mass spectrometry projects in Canada. Inaddition, regulatory agencies in the US, such as the Food and DrugAdministration (FDA), are encouraging the use of analytical techniques toensure that the pharmaceutical products released in the market adhere toquality requirements. Lately, the US has seen a significant increase in shalegas and crude oil production with increasing oil fields, and this has resultedin a subsequent increase in the employment of analytical tools such as massspectrometers.
KeyPlayers In Mass Spectrometry Market
The “Global MassSpectrometry Market” study report will provide a valuable insight with anemphasis on the global market. The major players in the market are Shimadzu Corporation, AgilentTechnologies, Perkinelmer, Dani Instruments, Thermo Fisher Scientific, Bruker,Leco Corporation, Waters Corporation, Sciex, and Hiden Analytical.
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