Mass spectrometry is a powerful analytical technique in the field of life sciences. The technique is used to identify unknown compounds and components in a given sample and quantify known compounds, by using electrons. Mass spectrometry employs charged electrons which, after entering the given sample, convert the contents of the sample into positive ions. These ions are then separated based on their molecular mass. These positive ions can be manipulated using an external electric charge or magnetic field. The mass-to-charge ratio of different components of a simple or complex sample is measured to identify and quantify components of the sample. The three basic principles of mass spectrometry are: measuring relative molecular masses of compounds, understanding fragmentation of molecules, and comparing the mass-to-charge ratios of various compounds, in order to identify unknown compounds in the given sample.
Increasing usage of the mass spectrometry technique, especially in the life sciences industry including pharmaceutical manufacturing, biotechnology, and other disciplines; rising demand for new and advanced instruments and equipment from end-users across the world; increasing focus on research and development in the health care industry leading to rise in investments in R&D by major market players and regional governments; and growing number of contract research organizations (CROs) are some of the factors driving the demand for new and advanced mass spectrometers. This, in turn, is expected to augment the global mass spectrometry market from 2017 to 2025. However, high cost of the technique and increase in the number of substitute analytical tools for life science applications, wherein growing number of innovative products are being offered by market players, are some of the major factors restraining the global mass spectrometry market.
The global mass spectrometry market can be segmented based on instrument, technology, application, end-user, and geography. Based on instrument, the market has been segmented into ion source, mass analyzers, and detector systems. The mass analyzers segment can be sub-segmented into quadrupole mass analyzers, magnetic mass analyzers (single-focusing, double-focusing), time of flight (ToF) analyzers, and others. Based on technology, the global mass spectrometry market has been segmented into gas chromatography-mass spectrometry (GC-MS), liquid chromatography-mass spectrometry (LC-MS), quadrupole-time of flight liquid chromatography-mass spectrometry, inductively coupled plasma mass spectrometry, matrix-assisted laser desorption / ionization-time of flight spectrometry, and others. Among these, the matrix-assisted laser desorption / ionization-time of flight spectrometry segment is expected to register a higher CAGR from 2017 to 2025, owing to advancements in the technique, leading to its growing adoption in the life sciences sector. Based on application, the global market has been segmented into clinical research, drug discovery & testing, metabolomics, forensic toxicology, proteomics, biopharmaceutical, and others. Based on end-user, the global mass spectrometry market has been segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations (CROs), and others. Among end-users, the pharmaceutical & biotechnology companies segment is expected to dominate the global mass spectrometry market by the end of 2017, due to growing focus on R&D and increasing adoption of analytical tools for specific applications including toxicology and contamination profiling.
Based on geography, the global mass spectrometry market has been segmented into five key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global mass spectrometry market from 2017 to 2025. Increasing research and development activities, rising investment in R&D, and growing adoption of advanced products in the region are factors driving the mass spectrometry market in North America. The market in Asia Pacific is expected to register a comparatively high CAGR from 2017 to 2025, owing to increasing number of contract research organizations and growing initiatives for pharmaceutical R&D by governments in the region.
Key players operating in the global mass spectrometry market are Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., Danaher Corporation, Bruker Corporation, Agilent Technologies, and bioMerieux SA.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.