"Designing Growth Strategies is in our DNA"
The global mass spectrometer market size was valued at USD 5,512.2 Million in 2018 and is Projected to Reach USD 10,044.7 Million by 2026, Exhibiting a CAGR of 7.8% from 2019 to 2026.
The mass spectrometer is an analytical technique used to quantitate the mass of a particular molecule and involves the incorporation of instruments like chromatography and mass spectrometer. Generally, the initial separation of the analyst is carried out using methods like chromatography to help in the resolution of the analysis.
Get comprehensive study about this report by, request a free sample copy
The mass spectrometer is one of the most precise instruments that can measure the molecular weight of an analyst, and this factor is one of the major reason for the increase in adoption of the equipment. In June 2019, 1st Detect Corporation announced the launch of TRACER 1000, a desktop mass spectrometer explosives trace detector (MS-ETD). The rising focus in research and development of new therapeutic molecules has increased the dependency on accurate analytical experiments leading to an increased preference towards equipment like mass spectrometer. Additionally, the wide product offerings from major players have facilitated the consumer to choose particular mass spectrometer based on the accuracy requirement.
"Technological advancements that offer higher resolution in analytical procedures are projected to benefit the mass spectrometer market growth"
The recent product launches by major players are projected to fuel the global mass spectrometry market growth. For instance, SCIEX announced the launch of two mass spectrometer products, Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS specifically designed for clinical diagnostics. Technological advancements that offer higher resolution and improved throughput are projected to benefit the market growth favorably during the forecast period. Additionally, the miniaturization of the mass spectrometer has considered resulting in the higher adoption of the equipment. These factors are anticipated to be most beneficial for the growth of the global market in the research and government institutions. The hybrid mass spectrometer is estimated to be the largest segment in the mass spectrometer market share in 2018.
The biopharmaceutical and pharmaceutical companies segment anticipated to be the fastest growing among the end user type during the forecast period. The higher adoption of the hybrid mass spectrometer in biopharmaceutical and pharmaceutical companies is expected to be the cause for faster growth of the segment during the forecast period.
To get details on market share, speak to our analyst
"The strong presence of major players and high investment in technological innovations has lead North America to dominate the global market"
North America generated revenue of USD 2,126.7 Million in 2018 and is anticipated to emerge dominant in the market during the forecast period. There is an increasing demand for high resolution and precise mass spectrometers in research institutes and pharmaceutical industries in the North American market. Additionally, the robust presence of key market players in the U.S. is anticipated to aid the mass spectrometer market growth in this region.
North America Mass Spectrometer Market Size, 2018
To get geographical overview of this market, request a free sample copy
The increase in research funding in countries of Europe are projected to drive the market growth. In the Asia Pacific, the evolving and growing economy is projected to increase the demand for mass spectrometer analysis. Combined with this, the increase in the number of pharmaceutical companies in these regions is expected to support higher CAGR of market during the forecast period. The mass spectrometer market trends is developing in the untapped and emerging countries of Latin America and the Middle East and Africa, which is projected to support the market growth during the forecast period.
"Shimadzu, Agilent, and Waters account for considerable market share in terms of revenue"
The current global mass spectrometer is consolidated owing to the strong portfolio and diverse product offerings by major players in the mass spectrometer product space. Shimadzu, Agilent, Waters, and SCIEX are some of the major players in the mass spectrometer market. A well-established brand presence and a strong distribution channel have been instrumental in the success of these players in the market. Other market players include JEOL USA, Thermo Scientific, Perkin Elmer, among others.
An increasing number of new approvals and launches for products in tandem quadrupole and orbitrap are factors leading to increasing demand for new and advanced mass spectrometer products in the global market. Players are focusing on R&D to innovate their product offerings with improved analytical efficiency. This is projected to lead to an increasing number of new products entering the mass spectrometer during the forecast period. However, comparatively higher installation costs and maintenance of the mass spectrometer are one major factor projected to restrain the adoption of these products in emerging countries.
To get information on various segments, share your queries with us
The global mass spectrometry market report provides qualitative and quantitative insights on mass spectrometer industry trends and detailed analysis of the market size & growth rate for all possible segments in the market. The market segments include product type and end user. Based on product type, this market segments include hybrid mass spectrometer (Tandem Quadrupole, Quadrupole TOF, FTMS) and single mass spectrometer (Single Quadrupole, TOF, Ion Trap). Based on end-user, the mass spectrometer market segments include biopharmaceutical and pharmaceutical companies, research institutes and government organizations, hospitals and diagnostic centers, and others like environmental testing, food, and chemical testing. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and Rest of World. The regions are further categorized into countries.
Along with this, the mass spectrometer market report analysis comprises of market dynamics and competitive landscape. Additionally, the report offers insights on the technological advancements in a mass spectrometer, recent industry developments such as partnerships, mergers & acquisitions, new product launches, the regulatory framework by key countries, key strategies of leading market players.
- Tandem Quadrupole
- Quadrupole Time-of-Flight (Q-TOF)
- Single Quadrupole
- Time-of-Flight (TOF)
- Ion Trap
· Biopharmaceutical and Pharmaceutical Companies
· Research Institutes & Government Organization
· Hospitals & Diagnostic Centers
· Others (Environmental testing, food, and chemical testing)
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Rest of World
Fortune Business Insights says that the value of the global Mass Spectrometer Market was USD 5,512.2 Million in 2018.
The Mass Spectrometer Market is projected to reach USD 10,044.7 Million by 2026.
The Mass Spectrometer Market will grow at the rate of 7.8% CAGR.