Global Mass Spectrometry Market, By Technology (Hybrid Mass Spectrometry, Single Mass Spectrometry, Other Technologies), Application (Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics, Others), End user (Pharmaceutical Industry, Biotechnology Industry, Research and Academic Institutes, Environmental Testing Industry, Food and Beverage Testing Industry, Petrochemical Industry, Other End Users) – Industry Trends and Forecast to 2029
Global Mass Spectrometry Market Analysis and Size
The market for mass spectrometry is estimated to increase rapidly over the forecast period. Mass spectrometry has risen to prominence as a key analytical tool in the pharmaceutical and health-care industries. Advanced methods such as ion mobility spectrometry and capillary electrophoresis are being applied to separate complicated biological mixtures such as derived peptide products. The expanding usage of mass spectrometry in the proteomics, metabolomics, and pharmaceutical industries and miniaturization trends are projected to move the market forward.
- Data Bridge Market Research analyses that the mass spectrometry market was valued at USD 4.55 billion in 2021 and is expected to reach USD 10.40 billion by 2029, registering a CAGR of 10.90% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Mass Spectrometry Market Definition
In the field of biological sciences, mass spectrometry is a strong analytical tool. This process uses electrons to identify unknown compounds and components in a sample and to measure recognised compounds. Charged electrons are used in mass spectrometry to convert the contents of a sample into positive ions after joining it. The molecular mass of these ions is then used to split them. An external electric charge or magnetic field can be used to control these positive ions.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Technology (Hybrid Mass Spectrometry, Single Mass Spectrometry, Other Technologies), Application (Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics, Others), End user (Pharmaceutical Industry, Biotechnology Industry, Research and Academic Institutes, Environmental Testing Industry, Food and Beverage Testing Industry, Petrochemical Industry, Other End Users)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Thermo Fisher Scientific Inc. (US), SCIEX (US) Agilent Technologies Inc. (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena GmbH (Germany), JEOL Ltd. (Japan), Rigaku Corporation (Japan), DANI Instruments (Italy), LECO Corporation (US), Hiden Analytical (UK), Hitachi Ltd. (Japan), KORE TECHNOLOGY (UK), Eurofins Scientific (Luxembourg), Ion Science (UK), FLIR Systems, Inc. (US), AMETEK. Inc. (US), Danaher (US)
Mass Spectrometry Market Dynamics
- Increasing technological advancement will drive the market’s growth rate
The increase in technological advancement will cushion the growth rate of mass spectrometry market. Other key growth-inducing aspects include technology breakthroughs such as developing novel hybrid spectrometers. These spectrometers provide high-speed, high-resolution testing with increased precision and accuracy.
- Rising R&D investments in the pharmaceutical and biotechnology industry will propel the market's growth rate during the forecast period
Pharmaceutical businesses' R&D spending has expanded dramatically in the last two decades. Investments in key areas such as biopharmaceuticals and personalized medicine drive research in the pharmaceutical and biotechnology industries.
Furthermore, environmental testing for pollution management is becoming more important, which is boosting market growth. In accordance with this, the increasing use of mass spectrometry to detect toxins, pathogens, microbes, and chemicals in order to ensure food quality and safety is boosting market expansion. Also, the rise in crude and shale gas production will enhance the market’s growth rate. Government regulations on drug safety and rising focus on quality of food products are the major market drivers that will further escalate the growth of mass spectrometry market.
- Emerging markets will boost many market opportunities during the forecast period
Moreover, the rising number of emerging markets will provide beneficial opportunities for the mass spectrometry market growth. Developing countries including China and India offer a variety of prospects for the mass spectrometry market to expand. Due to the Greenfield projects being built up in various end-user sectors in these nations, China and India together produce a considerable demand for single mass spectrometers and hybrid spectrometry equipment.
Moreover, the rise in new product launches and collaborations and increasing number of research and development activities will further provide beneficial opportunities for the mass spectrometry market’s growth during the forecast period.
Restraints/Challenges Mass Spectrometry Market
- High cost associated with instruments will hamper the market’s growth rate
Spectrometry instruments are more expensive since they have more complicated features and functions. Aside from the system's purchase price, the expense of conforming the system to industry standards is also quite costly. System prices have risen as a result of technical advancements. The cost of a spectrometer influences end users' purchase decisions. These are the main factors preventing end customers from adopting mass spectrometry devices.
- The lack of skilled professionals will pose a major challenge for market’s growth rate
For the efficient operation of spectrometry equipment, skilled employees with relevant expertise and knowledge are required. The quality of the final result can be impacted by errors such as misplacing a sample in GC-MS or LC-MS, or difficulties such as fingerprints or bubbles in the solution. A shortage of skilled employees for method development, validation, operation, and troubleshooting operations currently exists, which is projected to limit the growth of the mass spectrometry market in the coming years.
On the other hand, the impact of COVID-19 outbreak on supply chain and technical limitations will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This mass spectrometry market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mass spectrometry market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Mass Spectrometry Market
The COVID-19 pandemic had a favorable impact on the global mass spectrometry market. Because of the COVID-19 driving market, there has been a considerable demand for numerous spectrometers in the biotechnology and pharmaceutical industries. Researchers from the Institute of Genomics and Integrative Biology (IGIB) in Delhi and the National Center for Disease Control (NCDC) in Atlanta were able to detect a novel coronavirus (COVID-19) with 95 percent sensitivity and 100 percent precision using a mass spectrometer by 2020. MAP Sciences, a UK diagnostics company, announced the discovery of a fast test for the COVID-19 virus in April 2020. This method detects distinct proteins in COVID-19 using multiple spectrometry and is designed to provide test findings in 30 minutes. The market is predicted to rise as a result of these advancements.
- In November 2021, Thermo Fisher Scientific had launched new mass spectroscopy and chromatography solutions at ASMS. With the introduction of new mass spectrometry equipment, procedures, and software, Thermo Fisher Scientific Inc., the world leader in serving research, empowers scientists to make significant discoveries.
Global Mass Spectrometry Market Scope
The mass spectrometry market is segmented on the basis of technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Hybrid Mass Spectrometry
- Single Mass Spectrometry
- Other Technologies
Based on the technology, the mass spectrometry market is segmented into hybrid mass spectrometry, single mass spectrometry, and other technologies.
- Life Science Research
- Drug Discovery
- Environmental Testing
- Food Testing
- Applied Industries
- Clinical Diagnostics
Based on the application, the mass spectrometry market is segmented into life science research, drug discovery, environmental testing, food testing, applied industries, clinical diagnostics, others.
- Pharmaceutical Industry
- Biotechnology Industry
- Research and Academic Institutes
- Environmental Testing Industry
- Food and Beverage Testing Industry
- Petrochemical Industry
- Other End Users
Based on the end user, the mass spectrometry market is segmented into pharmaceutical industry, biotechnology industry, research and academic institutes, environmental testing industry, food and beverage testing industry, petrochemical industry, and other end users.
Mass Spectrometry Market Regional Analysis/Insights
The mass spectrometry market is analysed and market size insights and trends are provided by country, technology, application and end user as referenced above.
The countries covered in the mass spectrometry market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the mass spectrometry market because of the existence of developed technologies in this region. Additionally, favourable government funding programs for research studies that use mass spectroscopy will flourish the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to the rising use of mass spectroscopy in pharmaceutical industries and food testing processes in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The mass spectrometry market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for mass spectrometry market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the mass spectrometry market. The data is available for historic period 2010-2020.
Competitive Landscape and Mass Spectrometry Market Share Analysis
The Mass spectrometry market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mass spectrometry market.
Some of the major players operating in the mass spectrometry market Thermo Fisher Scientific Inc. (US), SCIEX (US) Agilent Technologies Inc. (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena GmbH (Germany), JEOL Ltd. (Japan), Rigaku Corporation (Japan), DANI Instruments (Italy), LECO Corporation (US), Hiden Analytical (UK), Hitachi Ltd. (Japan), KORE TECHNOLOGY (UK), Eurofins Scientific (Luxembourg), Ion Science (UK), FLIR Systems, Inc. (US), AMETEK. Inc. (US), and Danaher (US), among others.
Research Methodology : Global Mass Spectrometry Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-mass-spectrometry-market