Global Mass Spectrometer Market Poised for Strong Profits until 2024

Molecular analysis of all three states of matter, i.e. solid, liquid, and gas, is of great essence in order to understand the chemical structure of a sample and then manipulate them as per requirements. Mass spectrometers are fairly common instruments that perform molecular analysis tasks for various end-use industries including pharmaceutical, biotechnology, and chemical, and the market for the same is feeding off the prosperity of each of them. According to the findings of this business intelligence study, the vendors operating in the mass spectrometer market will have opportunities incrementing at a formidable CAGR of 8.1% during the forecast period of 2017 to 2024. In terms of revenue, the analyst of the report has estimated that the global mass spectrometry market will attain a valuation of US$9,990.2 million by the end of 2024, mounting up from the market’s evaluated worth of US$5,800.7 as of 2017.

Continuous technological advancements over the years that have led to the advent of analytical instruments that are highly efficient and customized for diverse applications, growth in the fields of pharmaceutical and life sciences, and increasing demand from the food and beverage industry as a result of government interventions are some of the key factors foreseen to drive the mass spectrometer market in the near future. On the other hand, high cost of these instruments is the primary restraint over the market. Nevertheless, relentless R&D activities that are currently underway by prominent companies to develop new products are expected to yield fruitful results in the near future.

global mass spectrometer market

MALDI-TOF Key Product Segment of Mass Spectrometry Market

Product-wise, the market for mass spectrometer has been segmented into gas chromatography mass spectrometer (GC-MS), liquid chromatography mass spectrometer (LC-MS), matrix associated laser desorption or ionization-time of flight (MALDI-TOF), inductively coupled plasma mass spectrometer (ICP-MS), and others. As of 2017, the MALDI-TOF segment provided for the most prominent chunk of demand, which was worth US$1,973.2 million. The segment is projected to hold onto its prominent position until 2024 too, showcasing the strongest growth rate among all. LC-MS is the next in-demand segment of this market, evaluated to generate a demand worth of US$2,183.2 million by 2024.

MALDI-TOF mass spectrometer uses a focused laser beam in the ultraviolet or infrared range to analyze solid samples in two stages: desorption of surface particles by laser beam and ionization of matrix. These spectrometers are useful for applications in clinical diagnostics, environmental and taxonomical research, and food processing and quality control.

Pharmaceutical and Biotechnology Lucrative Application Industries

Application-wise, this business report examines the volume and value of demand for mass spectrometers can be expected out of the industries of food and beverages, biotechnology, pharmaceutical, industrial chemistry, environmental testing, and others. The pharmaceutical and biotechnology industries have been identified as the two lucrative application industries, promising to provide for a demand worth of US$3,239.3 million and US$2,242.9 million by the end of 2024, respectively. On the back of the prevalence of several chronic diseases, the pharmaceutical industry has been emphasizing on qualitative and quantitative analysis of novel molecules that can be used for drug discovery and development, and thereby fueling the market for mass spectrometry. On the other hand, in the biotechnology industry, mass spectrometers are used for monitoring and analysis of gases and other biological components such as vitamin production as well as for optimization of biochemical process.

The analyst of this report has also backed environmental testing as a niche segment, projecting the demand from this application industry to multiply at a CAGR of 8.4% during the forecast period of 2017 to 2024, breaching the thousand million mark in terms of valuation by 2024.

The U.S. Most Profitable Country-wide Market

Geographically, the leadership position of the developed countries such as the U.S., the U.K., France, and Germany in the field of pharmaceutical and biotechnology has made North America and Europe as the two most profitable regions in the global mass spectrometer market. Increasing participation from major manufacturers in academic research in order to promote research for identification and discovery of novel molecules used for drug discovery using mass spectrometry is expected to drive the North America mass spectrometer market during the forecast period. The U.S. mass spectrometry market is estimated to be worth US$3,549.1 million by the end of 2024. That being said, outsourcing trend of clinical research activities to the emerging economies in Asia Pacific is poised to expand the demand from this region at the most prominent CAGR of 8.8% during the forecast period of 2017 to 2024.

Agilent Technologies, Thermo Fisher Scientific, Inc., and Shimadzu Corporation have been identified as three companies that are currently ahead of the curve in the global mass spectrometer market, which is moderately consolidation and has a high entry barrier for new entrants.

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 2017 to 2024 along with the compound annual growth rate (CAGR %) from 2017 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)
  • Others

Mass Spectrometer Market, by Application

  • Pharmaceutical Industry
  • Biotechnology Industry
  • Industrial Chemistry
  • Environmental Testing
  • Food & Beverage Industry
  • Others

Mass Spectrometer Market, by Geography

  • North America
    • U.S.
    • Canada 
  • Europe
    • Russia
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Europe
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa