Published: Apr, 2018
The global market for mass spectrometers is prognosticated to rise at a healthy rate, according to Transparency Market Research (TMR). In 2015, the market was held by a few leading players, accounting for nearly half of the market share. These companies, to name, are Shimadzu Corporation, Thermo Fisher Scientific, Inc., and Agilent Technologies. Prominent names in the global mass spectrometer market also include Charles River Laboratories, PerkinElmer, AB SCIEX, and Waters Corporation. Vendors in the market are anticipated to focus on end-use industries such as pharmaceuticals, mass spectrometer manufacturers, and food and beverage testing industries, in order to survive the intense competition in the market. New product launches, partnerships and agreements, are expected to be extensively adopted by vendors to increment their consumer base.
Over 2016 to 2024, the forecast duration, the global mass spectrometer market is predicted to witness a vigorous 8.1% CAGR. The market, estimated to be at US$4.96 bn in 2015, at this rate the CAGR is predicted to rise to US$9.9 bn by the end of 2024.
Food and Beverage Testing Market Segments to See Exceptional Growth
Segmented on the basis of applications, food and beverage testing is expected to emerge as the leading one among others. The rising awareness regarding the maintenance of the integrity and quality of the food products is a significant factor propelling the growth of this application segment. The growing number of regulatory measures implemented for the same are fuelling the food and beverage testing segment in the global mass spectrometer market.
Regionally, Asia Pacific is foretold to showcase high demand in the world market. This is ascribed to the rising adoption of improved and advanced tools for quality analysis. The unprecedented rise of biotechnology and pharmaceutical industries in the region is providing an impetus to market growth.
Demand for Precise Analytics to Offer Rich Market Opportunity
The increasing funding and subsidiaries provided by governments towards life science research and pharmaceutical industry is a key driver of the global mass spectrometry market. Additionally, the growing safety concerns in food and beverages industry has also fueled the growth of global mass spectrometry market. Moreover, headways in technological innovations in the field of mass spectrometry also attracts end users to adopt the technology.
A number of advanced technologies such as ion mobility spectrometry and capillary electrophoresis is used for the separation of complex biological mixtures such as derived peptide products. Mass spectrometry is being increasingly used in proteomics, metabolomics and in pharmaceutical sectors, providing a rich growth opportunity to the market. A rising trend expected to be further fuel the market is miniaturization. Systems such as MALDI-IMS and HRAM, are dedicated to improving the precision of analysis and reducing analysis time are bound to provide an impetus to the market.
The high cost of instruments could act as a restraint to the global mass spectrometry market. Additionally, dearth of skilled labor to operate, who are trained to operate expensive instruments could hamper the prospects of the growth of market in some way.
This review is based TMR’s report titled, “Mass Spectrometer Market (Product - GC-MS, LC-MS, MALDI-TOF, and ICP-MS; Application - Pharmaceutical, Biotechnology, Industrial Chemistry, Environmental Testing, and Food and Beverages) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”Top of Form
- The leading revenue generator for mass spectrometer globally is MALDI-TOF
- Asia Pacific is showing the leading rate of growth in the global mass spectrometry market
The market is segmented along the following lines:
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
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