The Global report on “Mass Spectrometry Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“The mass spectrometry market is projected to grow at a CAGR of 6.5% from 2020 to 2025.”
The mass spectrometry market size is expected to grow from an estimated USD 4.1 billion in 2020 to USD 5.6 billion by 2025, at a CAGR of 6.5%. Increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, growing focus on the quality of food products, increase in crude and shale gas production, and growing government initiatives for pollution control and environmental testing are high growth prospects for the mass spectrometry market during the forecast period.
“The pharmaceutical industry segment, by the end user, is expected to be the largest and the fastest-growing market from 2020 to 2025.”
Based on end user, the mass spectrometry market has been segmented into is pharmaceutical industry, biotechnology industry, research & academic institutes, environmental testing industry, food & beverage testing industry, petrochemical industry among and other end users. Pharmaceutical industries are among the key end-users of mass spectrometers. The adoption of analytical instrumentation during various stages of biopharmaceutical and pharmaceutical drug discovery, drug research and development, pharmacokinetics, toxicology, and clinical studies drive the growth of the market in the industrial sector. The availability of government and corporate funding for pharmaceutical research, growth of the pharmaceutical industry, and the presence of stringent regulatory guidelines for drug development and safety are some of the key factors driving the growth of this segment during the forecast period.
“The Hybrid mass spectrometry segment, by technology, is expected to be the fastest-growing market from 2020 to 2025.”
Based on the product, the mass spectrometry market is segmented into hybrid mass spectrometry, single mass spectrometry and other technologies. The hybrid mass spectrometry segment is expected to witness the fastest growth during the forecast period. Advantages offered by hybrid mass spectrometers, such as rapid and high-resolution testing abilities with more accurate and precise results, are increasing its adoption. Consequently, the demand for mass spectrometry devices for high throughput screening is also growing. The hybrid mass spectrometry segment is further divided into Triple Quadrupole, Quadrupole ToF (Q-ToF), and Fourier Transform Mass Spectrometry (FTMS).
“North America: The largest market in the mass spectrometry industry.”
North America accounted for the largest market share in the mass spectrometry market in 2019. A number of factors, such as growing funding for research and government initiatives in the US, widespread usage of mass spectrometry in the metabolomics and petroleum sector, and CFI funding towards mass spectrometry projects in Canada are driving the growth of the North American mass spectrometry market. Moreover, the US has seen a significant increase in the shale gas and crude oil production with increasing oil fields and this has resulted in subsequent increase in the employment of analytical tools such as mass spectrometers.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 48%, Tier 2- 36%, and Tier 3- 16%
- By Designation: C-Level- 10%, Director Level- 14%, and Others- 76%
- By Region: North America – 40%, Europe – 32%, Asia Pacific – 20%, Lain America – 5%, Middle East & Africa – 3%
*Others include sales managers, engineers, and regional managers.
Note: Tier 1 Company—Revenue > USD 5 billion, Tier 2 Company—Revenue between USD 1 and USD 5 billion, and Tier 3 Company—Revenue < USD 1 billion
The mass spectrometry market is dominated by a few major players that have an extensive country presence such as Thermo Fisher Scientific (US), SCIEX (US) Agilent Technologies (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), and Hiden Analytical (UK).
The report defines, describes, and forecasts the mass spectrometry market, by technology, application, end user and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the mass spectrometry market.
Why Buy this Report?
- The report identifies and addresses the key markets for the Mass Spectrometry, which would help equipment manufacturers and service providers review the growth in demand.
- The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
- The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
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