Global Mass Spectrometry Market: Snapshot
Of the top drivers currently augmenting the global mass spectrometry market, the leading one is the surge in the rate of technological advancements that are creating a high scope of applications for newer equipment. This includes the inclusion of the MALDI-IMS and HRAM systems that are dedicated to reducing analysis time as well as improve analysis accuracy. The market is also being driven by the growing use of mass spectrometry equipment in the analysis of fundamental chemical processes as well as life sciences and drug discovery. The global mass spectrometry market is also being driven by the growing use of these equipment in the food and beverages industry for testing, as well as the favorable rate of mergers and acquisitions that have occurred for key players. However, the global mass spectrometry market is being stifled by the high costs of new equipment as well as the high expenses of research and development efforts it takes to introduce newer technologies into the market.
The global mass spectrometer market is shown to expand at a CAGR of 8.1% within the forecast period from 2016 to 2024. The market is likely to reach a valued of US$9.99 bn by the end of 2024. It was valued at US$4.96 bn in 2015.
MALDI-TOF Bags Top Spot in Mass Spectrometry Product Preference
Based on product types, MALDI-TOF equipment held the leading share of over 30% in the global mass spectrometer market for 2015. This segment is additionally expected to witness a very high growth rate till 2024, owing to the growing popularity of newer instruments by companies such as Shimadzu Corporation, Thermo Fisher Scientific, and Water Corporation. MALDI-TOF equipment are known to be exceptionally prominent and advanced mass spectrometer instruments that are commonly used for used for a diverse array of chemical analysis. Additionally, the recent launch of instruments including the Vion IMS QTOF Mass Spectrometer by Waters Corporation is seen as a major driver for the overall mass spectrometer market. The high preference for MALDI-TOF over other mass spectrometers is primarily due to the simpler method of preparing samples as well as the faster rate of analysis achieved in it. The leading revenue generator for mass spectrometer globally is MALDI-TOF, followed by ICP-MS.
On the basis of applications, the global mass spectrometer market can be segmented into pharmaceuticals, biotechnology, industrial chemistry, food and beverages testing, and environmental testing. Environmental testing and food and beverages testing market are showing an exceptional rate of growth in the global mass spectrometry market, primarily due to the increasing implementations of stricter regulatory measures to ensure product quality and integrity. The global share of pharmaceutical and biotechnology industry in global mass spectrometry market was estimated to be around 55% in 2015.
APAC Shows High Promise of New Equipment Adoption
Geographically, the global mass spectrometer market has been segmented into North America, Europe, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for top share of the global market in 2015, on the basis of revenue, followed closely by Europe. At the same time, Asia Pacific is showing the leading rate of growth in the global mass spectrometry market, owing to a growing demand for better quality analysis tools. Latin America is expected to emerge as a highly beneficial region for players from the global mass spectrometry market due to the growing scope of applications found in mining, pharmaceuticals, and biotechnology.
In 2015, the leaders of the global mass spectrometry market included Thermo Fisher Scientific, Waters Corporation, Bruker, PerkinElmer, AB SCIEX, Charles River Laboratories, Shimadzu Corporation, and Agilent Technologies.
Global Mass Spectrometer Market: Overview
This report on mass spectrometer market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various mass spectrometer instrument and products as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global mass spectrometer market with respect to the leading market segments based on major products, applications and geographies.
Global Mass Spectrometer Market: Scope of the Study
The mass spectrometer market has been studied based on major product segments, application segments and regional as well as national markets. Based on product type, the global mass spectrometer market has been categorized into: GC-MS, LC-MS, MALDI-TOF, ICP-MS and others. On the basis of applications the mass spectrometer market is classified as pharmaceutical industry, biotechnology industry, industrial chemistry, environmental testing, food & beverage industry and others.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2016 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2016 as the base year.
Global Mass Spectrometer Market: Drivers and Top Trend Analysis
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global mass spectrometer market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/applications/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Global Mass Spectrometer Market: Regional Analysis
Geographically, the mass spectrometer market has been segmented into five regions: North America, Europe, Asia Pacific, Europe, Middle East & Africa (MEA), and Latin America. Each regional market for mass spectrometer has been further categorized into major product, applications, material, and end-user segments considered within the scope of the study. Key country (U.S., Canada, Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2014 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year.
Global Mass Spectrometer Market: Competitive Landscape
The report profiles key manufacturers in the mass spectrometer market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include Thermo Fisher Scientific, Waters Corporation, Bruker, PerkinElmer, AB SCIEX, Charles River Laboratories, Shimadzu Corporation and Agilent Technologies.
The global mass spectrometer market has been segmented as follows:
Mass Spectrometer Market, by Product Type
- GC-MS (Gas chromatography-mass spectrometer)
- LC-MS (Liquid chromatography-mass spectrometer)
- MALDI-TOF (Matrix associated laser desorption/ionization-time of flight)
- ICP-MS (Inductively coupled plasma-mass spectrometer)
Mass Spectrometer Market, by Application
- Pharmaceutical Industry
- Biotechnology Industry
- Industrial Chemistry
- Environmental Testing
- Food & Beverage Industry
Mass Spectrometer Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa