According to the most recent analysis by Emergen Research, the size of the worldwide mass spectrometry market reached USD 4.36 billion in 2021 and is anticipated to experience a revenue CAGR of 6.1% over the projected period.
According to the most recent analysis by Emergen Research, the size of the worldwide mass spectrometry market reached USD 4.36 billion in 2021 and is anticipated to experience a revenue CAGR of 6.1% over the projected period. One of the main drivers of the market revenue growth is an increase in pharmaceutical companies’ spending on R&D activities. Additionally, these research initiatives are promoting biopharmaceutical and personalised medicine innovations and attracting funding. According to the 2018 European (EU) Industrial Research & Development Investment Scoreboard, the pharmaceutical and biotechnology sectors represent 18.9% of all global R&D spending. From drug discovery to late-stage development and clinical trials, mass spectrometry is widely used in the pharmaceutical sector. As a result, during the course of the forecast period, the market’s revenue growth is anticipated to be supported by rising financing for the pharmaceutical and biotechnology industries.
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However, because they have increasingly sophisticated features and functionalities and because of technological improvements, spectrometry equipment are expensive. Additionally, it is quite expensive to conform these systems to industry standards. Additionally, as a result of technological development and improved operating efficiency, demand for mass spectrometers has grown over time. Because they need so many of these systems, pharmaceutical companies’ capital costs are greatly increased. Such technologies are also out of reach since academic research laboratories have tight funding. These are a few of the main factors preventing mass spectrometry system adoption by high end users.
To operate spectrometry equipment effectively, qualified staff with relevant experience and understanding are also needed. The quality of the finished product might be impacted by mistakes like misplacing a sample, finding fingerprints, or finding solution bubbles. In mass spectrometry, sample preparation is a crucial step in separating the target analyte. It removes interferences that could affect the precision of the outcome. Lack of understanding about the right technology to utilise can affect outcomes and cost end users money directly and indirectly. Growth in market revenue is anticipated to be constrained by the current lack of qualified professionals for method development, validation, operation, and troubleshooting tasks.
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Some Key Highlights From the Report
- In 2021, the hybrid mass spectrometry segment had a remarkably large revenue share. This segment’s sales growth is mostly due to high investments in developing tools that let consumers understand complicated combinations. For instance, Thermo Fisher Scientific, a top producer of cutting-edge medical technology, said on June 15, 2022 that it would be making its Direct Mass Technology mode available to enable simultaneous charge detection for analysis of hitherto immeasurable analytes.
- In 2021, the segment for life science research accounted for a sizably high revenue proportion. Due to the rising frequency of chronic diseases and large investments made by biopharmaceutical companies in the development of new pharmaceuticals, strategic efforts are being implemented in several nations. These elements play a significant role in this segment’s revenue growth.
- In 2021, the pharmaceutical industry segment accounted for a sizably high revenue share. Rising investments in enhancing these instruments’ sensitivity and resolution are a major driver fueling this segment’s revenue growth. Mass spectrometry is a potent analytical technique with many uses in the pharmaceutical and biomedical industries. Additionally, it has revealed new angles for the study of drugs and intricate biological system metabolites. Mass spectrometry is the only traditional analysis method that can determine the molecular weight and allow users to anticipate the molecular formula.
- Shimadzu Corporation, a global provider of analytical or measuring instruments and industrial machinery with its headquarters in Kyoto, Japan, stated on December 10 that it will be entering the high-end market by releasing a number of new types of analytical balances. The latest models in the AP-AD series offer exceptional performance, including quick weigh times, high measurement stability, and reduced error rates, as well as additional convenience features like touchless sensors and automated doors. These sensors make it possible to carry out the full range of weighing procedures without ever touching the main unit’s control panel, reducing the risk of contamination of analytical samples by foreign objects and preventing infection.
- Some major companies in the global market report include Thermo Fisher Scientific, Sciex, Agilent Technologies, Waters Corporation, Shimadzu Corporation, Bruker, Jeol Ltd., Teledyne FLIR LLC, MKS Instruments, Analytik Jena GmbH, Applied Rigaku Technologies, Inc., and Kore Technology.
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Emergen Research has segmented the global mass spectrometry market on the basis of technology, application, end-use, and region:
- Technology Outlook (Revenue, USD Billion; 2019-2030)
- Hybrid Mass Spectrometry
- Single Mass Spectrometry
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Life Science Research
- Drug Discovery
- Environmental Testing
- Food Testing
- Clinical Diagnostics
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Pharmaceutical Industry
- Biotechnology Industry
- Research & Academic Institutes
- Food & Beverages Industry
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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