The surging need for accurate identification, quantification, and structural characterization of compounds to enhance efficiency, safety, and innovation in the pharmaceutical and biotechnology industries will boost the market growth. Mass spectrometry has revolutionized drug discovery, development, and quality control as it enables the precise analysis of complex molecules and biomolecules. The ongoing integration of mass spectrometry into research, development, and manufacturing workflows will further augment the market outlook.
The mass spectrometry market from the single segment accounted for USD 2.1 billion in 2022. The continuous development of single mass spectrometry technology has led to significant advances in resolution, sensitivity, and data collection speed to help researchers to reach better levels of accuracy, increase productivity, and explore new applications. High sensitivity, quick analysis, and the capacity to run tandem mass spectrometry studies are some other factors propelling the industry demand.
Mass spectrometry market from the life science research segment is expected to surpass USD 1.7 billion by 2032, driven by the intensifying deeper insights into molecular structures and interactions. The surging innovative advancements in mass spectrometry technology will also influence the market expansion. For instance, in February 2023, Roche Diagnostics, a Swiss life science company, announced its plans to launch a completely automated mass spectrometry-based clinical analyzer into the market in 2024.
Asia Pacific mass spectrometry market is estimated to reach USD 2.5 billion by 2032. The growth is attributed to rapid industrialization and the increasing R&D investments coupled with the booming pharmaceutical and biotechnology sectors in the region. Additionally, the growing emphasis on precision medicine and developments in healthcare infrastructure will also boost the adoption of mass spectrometry technology. For instance, in January 2021, the Shimadzu-CGH Clinomics Centre, established by public-private partners, Changi General Hospital and Shimadzu (Asia Pacific), makes use of mass spectrometry for clinical testing and research for individualized care.
Some of the leading companies operating in the mass spectrometry market include Agilent Technologies, Inc., PerkinElmer, Inc.¸ Thermo Fisher Scientific Inc., SCIEX (a division of Danaher Corporation), JEOL Ltd.¸ Waters Corporation, LECO Corporation, Bruker Corporation¸ Shimadzu Corporation¸ AB Sciex Pte. Ltd., Advion, Inc.¸ Analytik Jena AG¸ Rigaku Corporation¸ Hiden Analytical Ltd., and Ionics Mass Spectrometry Group Inc. These firms are focusing on enhancing the efficiency of mass spectrometry worldwide to widen their customer base. For instance, in June 2023, Thermo Fisher Scientific Inc. launched the Orbitrap Astral mass spectrometer that combines quick throughput, high sensitivity, and extensive proteome coverage to help scientists to produce ground-breaking discoveries more efficiently.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary 2.1 Mass spectrometry market 360º synopsis, 2018 - 2032 2.2 Business trends 2.2.1 Total Addressable Market (TAM), 2023 - 2032 2.3 Regional trends 2.4 Technology trends 2.5 Application trends 2.6 End-user trends Chapter 3 Mass spectrometry Market Industry Insights 3.1 Impact of COVID-19 3.2 Impact of the Benelux-Ukraine war 3.3 Industry ecosystem analysis 3.4 Vendor matrix 3.5 Profit margin analysis 3.6 Technology & innovation landscape 3.7 Patent analysis 3.8 Key news and initiatives 3.8.1 Partnership/Collaboration 3.8.2 Merger/Acquisition 3.8.3 Investment 3.8.4 Product launch & innovation 3.9 Regulatory landscape 3.10 Impact forces 3.10.1 Growth drivers 3.10.1.1 Increasing demand for accurate and sensitive analytical techniques 3.10.1.2 Growing applications in pharmaceutical and biotechnology industries 3.10.1.3 Technological investment across the globe 3.10.1.4 Increasing focus on environmental analysis 3.10.1.5 Advancements in data analysis and interpretation 3.10.2 Industry pitfalls & challenges 3.10.2.1 Instrument performance and maintenance 3.10.2.2 High initial and operating costs 3.11 Growth potential analysis 3.12 Porter’s analysis 3.13 PESTEL analysis Browse our Reports Store - GMIPulse @https://www.gminsights.com/gmipulse
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