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Mass Spectrometry Market

Mass Spectrometry Market Size, Share & Trends Analysis Report By Technology (Hybrid Mass Spectrometry, Triple Quadrupole, Quadrupole TOF, Fourier Transform Mass Spectrometry, Single Mass Spectrometry, Ion Trap, Quadrupole, Time-of-Flight, Other Mass Spectrometry), By Application (Pharmaceutical, Biotechnology, Industrial Chemistry, Environmental Testing, Food & Beverage Testing, Other Applications) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRHI7DR
Study Period 2019-2031 CAGR 8.2%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 6,329 Million
Forecast Year 2031 Forecast Year Market Size USD 12,864 Million
Largest Market Europe Fastest Growing Market North America
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Market Overview

The global mass spectrometry market size was valued at USD 6,329 million in 2022. It is projected to reach USD 12,864 million by 2031, growing at a CAGR of 8.2% during the forecast period (2023–2031).

Mass spectrometry is one of the most potent tools or methods for analyzing various biological and chemical entities. It is used in measuring the mass-to-charge ratio of molecules present in a sample. Mass spectrometers can be used to quantify known chemicals, identify unknown compounds, as well as determine the structure and chemical characteristics of molecules. Mass spectrometry has many applications in the pharmaceutical and biomedical fields. Many countries' economies are increasing their investments in healthcare and pharmaceuticals. People over 65 will account for around 11.6 percent of the global population, which is expected to boost the pharmaceutical industry significantly. Rising demands and the corresponding requirements to meet these demands are significant factors driving the market growth of mass spectrometry. 

Mass spectroscopy technology continues to improve, increasing resolution factors and speed. The development of new software and tools can increase the use of mass spectroscopy in various fields, including proteomics, drug development, pharmaceuticals, and food safety testing. These factors are expected to drive the mass spectrometry market growth during the forecast period. There are numerous mass spectrometers in the market. Spectrometers come in various types, each with its own set of advantages and costs. 

Market Dynamics

Global Mass Spectrometry Market Drivers

Increasing R&D Investments in the Pharmaceutical and Biotechnology Industry 

Increased R&D investments in the pharmaceutical and biotechnology industries are a driving force. Occasional expenses; D-Pharma companies have grown significantly over the past two decades. Investments in critical areas like biopharmaceuticals and personalized medicine drive research in the pharmaceutical and biotechnology industries. Mass spectrometry is critical in the pharmaceutical industry, from the early stages of drug discovery to late-stage development and clinical trials. Accordingly, increased funding in the pharmaceutical and biotechnology industries is expected to drive the mass spectrometry market.

Technological Advancement 

Technological advancements provide higher resolution and improved throughput, which are fruitful for market growth. It will enhance the way of measuring the mass-to-charge ratio of ions. The improved technical advancement will enhance the accuracy of measurement. It will present the accurate value as a mass spectrum and a plot of intensity as a function of the mass-to-charge ratio. These factors will ensure the growth of the market.

Global Mass Spectrometry Market Restraint

Premium Product Pricing will be an Obstacle

Spectrometry contraptions are created with superior capabilities and functionalities and are, as a result, priced at a premium. Apart from the machine's price, the price of compliance of the machine to enterprise requirements is likewise very high. Due to technological improvements and extended operational efficiencies, the call for mass spectrometers has grown. However, technological traits have extended machine prices. The rate of a spectrometer impacts the acquisition selection of quit users. Pharmaceutical corporations require many such structures, and hence, the capital price will increase significantly. Furthermore, educational studies laboratories find it hard to have enough money for such structures, as they have managed budgets. These are the foremost elements restricting the adoption of mass spectrometry structures amongst quit users.

Global Mass Spectrometry Market Opportunities

Growth Opportunities in Emerging Countries

Developing international locations, including China and India, gifts numerous possibilities for increasing the mass spectrometry market. China and India generated a massive call for mass spectrometers and hybrid spectrometry gadgets because of the Greenfield initiatives installed in numerous end-person industries in those international locations. The biopharmaceutical company of these international sites is powerful and must largely contribute to the growth of the spectrometry and chromatography markets. Key enterprise gamers are setting up new facilities, R&D facilities, and innovation facilities to take advantage of this tasty possibility in collaboration with players in the Asian market.

Regional Analysis

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa (LAMEA) are the four regions that make up the global mass spectrometry market share.

The market is expected to be dominated by North America. Pharmaceutical, biotechnology, and industrial chemistry all use mass spectrometry. Chemical industries are well-represented in North America. In the chemical manufacturing industry, the United States has some well-known names. Furthermore, the United States accounts for nearly 15% of global chemical shipments, making it the market leader in chemical production. There are a number of key players present in the United States. The wide range of product offerings by companies makes it easier for customers to find the right mass spectrometer for their needs. Increasing government regulations for quality maintenance are expected to increase the demand for mass spectrometers.

The market is expected to grow at a significant rate in Europe as well. Various research and development activities in pharmaceuticals and drug discovery are expected to increase the market growth in the region. Biotechnology is the primary industry in Europe. This is demonstrated by the fact that, rather than laying off workers after the 2008 economic downturn, the European biotech industry began to hire them. As a result, more than half of the companies increased their biotechnology research and development spending. The mass spectrometry market is also expected to benefit from increased government funding.

The mass spectrometry market is expected to grow significantly in the Asia Pacific region. Mass spectrometry is also used in the food and beverage industry. In the last few years, China, Hong Kong, Japan, Australia, the Philippines, Malaysia, and Singapore have reported around 400 cases of contamination. As a result of these factors, governments in various countries, especially China, have strengthened their food quality inspection policy. Furthermore, the growth of the Indian pharmaceutical industry may also be beneficial to the mass spectrometry market share.

In Latin America, the spending on pharmaceutical R&D has increased substantially. Factors such as increased emphasis on food quality, government regulations on drug safety, and environmental testing have increased the demand for mass spectrometry. Countries like Brazil and Mexico demand mass spectrometers because of the Greenfield projects implemented in these countries. In the Middle East and Africa region, the market is driven by growing investments in drug discovery to combat chronic diseases.

Report Scope

Report Metric Details
By Technology
  1. Hybrid Mass Spectrometry
  2. Triple Quadrupole
  3. Quadrupole TOF
  4. Fourier Transform Mass Spectrometry
  5. Single Mass Spectrometry
  6. Ion Trap
  7. Quadrupole
  8. Time-of-Flight
  9. Other Mass Spectrometry
By Application
  1. Pharmaceutical
  2. Biotechnology
  3. Industrial Chemistry
  4. Environmental Testing
  5. Food & Beverage Testing
  6. Other Applications
Company Profiles Agilent Technologies Thermo Fisher Scientific Waters Corporation SCIEX (a Danaher subsidiary) Bruker JEOL PerkinElmer Hiden Analytical Rigaku Analytik Jena LECO DANI Instruments
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The market for mass spectrometry is divided into categories such as technology and application.

Based on technology, the global market for mass spectrometry is divided into hybrid mass spectrometry, triple quadrupole, quadrupole TOF, Fourier transform mass spectrometry, single mass spectrometry, ion trap, quadrupole, time-of-flight, and other mass spectrometry.

The Hybrid Mass Spectrometry segment dominates the market. Hybrid mass spectrometers consist of at least two different types of "mass" analyzers arranged in order from the ion source to the ion detector. Hybrid mass spectrometers combine several mass-analyzer components in the same quest for improved performance, and they, too, have been a commercial success. Higher sensitivity (and lower detection limits), higher resolving power, or even other metrics like data production speed or data set richness can be used to assess hybrid mass spectrometer performance.

Single quadrupole mass spectrometers have the handiest mass analyzer. They may handiest degree ions produced withinside the tool supply, which may be intact molecular ions or fragment ions produced with the aid of using in-supply fragmentation.

Based on Application, the global market for mass spectrometry is divided into pharmaceutical, biotechnology, industrial chemistry, environmental testing, food & beverage testing, and other applications.

The pharmaceuticals segment has the largest share in the mass spectrometry market and is expected to continue its growth during the forecast period. Mass spectrometry helps in accurately identifying the components of a mixture in the drug discovery process. Mass spectrometry also helps in identifying contamination and impurities in pharmaceuticals. A rise in research and development investments has led to an increase in the sensitivity and resolution of the instrument, which has opened up new avenues in pharmaceutical application. 

Biotechnological systems are quite complicated and comprise hundreds to thousands of different chemical components. Mass spectrometry combined with chromatographic separation enables sensitive and reliable measurement of one or more chosen chemicals. Even in complicated mixtures with compounds that are closely related to one another and at very low concentrations, this is still possible. No other analytical method can offer biological systems with the same level of sensitivity, selectivity, and specificity.

Mass spectrometry is a crucial tool for the food and beverage business. Hazards such as pesticides, heavy metals, and poisons can be detected using mass spectrometry, even if they are only present in trace amounts.

Market Size By Technology

Recent Developments

  • June 2022- Agilent Technologies Inc. announced new LC/MS and GC/MS quadrupole mass spectrometers. The new products offer built-in instrument intelligence to simplify lab operations.
  • June 2022- Thermo Fisher Scientific announces new mass spectrometry instruments, workflows, software, and industry collaborations during ASMS 2022 Conference. The company showcased solutions for accelerating next-generation vaccine and therapy research and unlocking deeper analytical insights.
  • June 2022- Waters Corporation unveiled new instruments, software, and product enhancements to drive drug discovery and development at the American Society for Mass Spectrometry (ASMS) 2022 Annual Conference.

Top Key Players

Agilent Technologies Thermo Fisher Scientific Waters Corporation SCIEX (a Danaher subsidiary) Bruker JEOL PerkinElmer Hiden Analytical Rigaku Analytik Jena LECO DANI Instruments Others

Frequently Asked Questions (FAQs)

How big is the mass spectrometry market?
The global mass spectrometry market size was valued at USD 6,329 million in 2022. It is projected to reach USD 12,864 million by 2031, growing at a CAGR of 8.2% during the forecast period (2023–2031).
The global mass spectrometry market growing at a CAGR of 8.2% from (2021–2031).
Agilent Technologies, Thermo Fisher Scientific, Waters Corporation, SCIEX (a Danaher subsidiary), Bruker, JEOL, PerkinElmer, Hiden Analytical, Rigaku, Analytik Jena, LECO, DANI Instruments.
Increasing R&D Investments in the Pharmaceutical and Biotechnology Industry are the key drivers for the growth of the global market
Europe region has the highest growth rate in the mass spectrometry market.

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