Global Mass Spectrometry Market – Industry Trends and Forecast to 2031

Mass Spectrometry Market Analysis and Size

Mass spectrometry is instrumental in upholding food safety and quality control standards within the food industry. Detecting and quantifying contaminants, residues, and adulterants in food products, it prevents foodborne illnesses and ensures compliance with regulatory standards. Identifying pesticides, veterinary drugs, and food additives, it safeguards consumer health. Mass spectrometry supports the authentication of food products, uncovering fraudulent practices such as food adulteration and mislabelling. With its high sensitivity and specificity, mass spectrometry provides precise analysis of food samples, bolstering quality assurance efforts and fostering consumer confidence in food safety.

Global mass spectrometry market size was valued at USD 5.60 Billion in 2023 and is projected to reach USD 12.80 Billion by 2031, with a CAGR of 10.9% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation       

Market Definition

Mass spectrometry is a powerful analytical technique used to identify and quantify molecules based on their mass and charge. It involves ionizing chemical compounds to create charged particles, which are then separated according to their mass-to-charge ratio within a mass analyzer. Mass spectrometry provides valuable information about the composition, structure, and properties of molecules present in a sample by measuring the mass-to-charge ratios and relative abundances of these ions.

Mass Spectrometry Market Dynamics

Drivers

• Increasing Research and Development Activities Increases the Demand for Mass Spectrometers

Research and development efforts focus on improving instrument sensitivity, resolution, and throughput, as well as developing novel techniques for complex sample analysis. Research initiatives in fields such as pharmaceuticals, biotechnology, and environmental science drive the need for advanced analytical tools such as mass spectrometers. The quest for innovation and discovery fuels investments in mass spectrometry, propelling market growth as industries strive for more accurate, reliable, and efficient analytical solutions.

In September 2020, Indian researchers at IGIB and NCDC achieved a breakthrough by detecting COVID-19 using a mass spectrometer with high sensitivity (95%) and specificity (100%) compared to the gold standard RT-PCR method. This innovation highlights the potential of mass spectrometry as a rapid and accurate diagnostic tool for infectious diseases such as COVID-19, offering promising alternatives to conventional testing methods.

• Increasing Technological Advancement Enhances Analytical Capabilities

Advancements in instrumentation, software, and data analysis techniques continually improve the sensitivity, resolution, and speed of mass spectrometry systems. This leads to broader applications across industries such as pharmaceuticals, biotechnology, and environmental monitoring. Additionally, miniaturization and automation of mass spectrometry instruments enable greater portability and ease of use, expanding accessibility to a wider range of users. As technology evolves, driving the development of more sophisticated and user-friendly mass spectrometry solutions, market growth is propelled by the ever-growing demand for accurate and efficient analytical tools in research, diagnostics, and quality control applications.

In May 2020, Thermo Fisher Scientific launched the Orbitrap Exploris 120 mass spectrometer, featuring rapid scanning modes and polarity switching for enhanced performance. Additionally, companies in the mass spectrometry market engage in strategic activities such as mergers, acquisitions, and partnerships to access new technologies and drive innovation in the field, further propelling market growth and advancement.

Opportunities

• Emergence of New Markets Increases the Adoption of Mass Spectrometry Technologies

As economies develop and industries expand in emerging markets, there is an increasing demand for advanced analytical technologies such as mass spectrometry. These regions often witness rapid growth in pharmaceuticals, environmental testing, and food safety sectors, where mass spectrometry plays a pivotal role. This expanding market landscape offers significant opportunities for mass spectrometry companies to capitalize on the growing demand and establish a strong presence in these growing regions.

• Increasing Regulatory Bodies Enhances Confidence in the Reliability of Mass Spectrometry Techniques

Compliance with regulatory standards is imperative for industries such as pharmaceuticals, environmental monitoring, and food safety to ensure product quality, safety, and regulatory compliance. The endorsement and enforcement of mass spectrometry techniques by regulatory bodies enhance confidence in the reliability and accuracy of analytical results, driving market growth. Collaborations between industry stakeholders and regulatory agencies foster innovation and advancement in mass spectrometry technology to meet evolving regulatory requirements, further fueling market expansion.

The Human Proteome Organization's Human Proteome Project (HPP) updated guidelines in 2020 to improve data interpretation in mass spectrometry, particularly for data-independent acquisition (DIA) workflows and the Universal Spectrum Identifier system. These guidelines aim to enhance accuracy and reduce false-positive protein identifications, thus optimizing mass spectrometry workflows for increased efficiency and reliability.

Restraints/Challenges

• Shortage of Skilled Professionals Limits the Adoption of Mass Spectrometry Technology

As mass spectrometry techniques become increasingly sophisticated and versatile, there is a growing demand for trained personnel with expertise in instrument operation, data analysis, and method development. However, the supply of qualified individuals proficient in these areas often falls short of industry needs, leading to challenges in hiring and retaining skilled professionals. This scarcity hampers the adoption and utilization of mass spectrometry technology and impedes innovation and advancement within the market.

• High Cost Associated with Mass Spectrometry Instruments

The initial investment required for purchasing mass spectrometers, along with ongoing maintenance, calibration, and operation expenses, can be substantial, particularly for advanced models with sophisticated features. This cost factor poses a barrier to entry for smaller laboratories, academic institutions, and emerging markets, limiting their access to state-of-the-art analytical capabilities. Moreover, budget constraints may hinder the adoption of mass spectrometry technologies in research, clinical, and industrial settings, impacting market growth and accessibility of these powerful analytical tools.

This 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In June 2022, Shimadzu Scientific Instruments launched the LCMS-2050 liquid chromatography quadrupole mass spectrometer, renowned for its compact size and exceptional performance in high-speed and high-sensitivity analysis. This advancement addresses the demand for efficient analytical solutions, catering to various industries' needs for precise and streamlined processes
• In March 2022, Waters Corporation launched the Xevo TQ Absolute system, a benchtop tandem mass spectrometer renowned for its remarkable sensitivity and compact design. This cutting-edge instrument boasts a 15X increase in sensitivity for quantifying negatively ionizing compounds compared to its predecessor, coupled with a 45% reduction in size and significant energy efficiency enhancements
• In November 2021, Thermo Fisher Scientific dispalyed new mass spectroscopy and chromatography solutions at ASMS, marking a significant milestone in analytical instrumentation. With innovative equipment, methodologies, and software, Thermo Fisher Scientific empowers scientists worldwide to conduct groundbreaking research and make impactful discoveries, reinforcing its position as a leader in scientific instrumentation and solutions

Mass Spectrometry Market Scope

The 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.

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

Mass Spectrometry Market Regional Analysis/Insights

The 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 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 in the market is attributed to its advanced technological infrastructure. The region boasts well-established technologies that support the widespread adoption of mass spectrometry across various industries. Moreover, favorable government funding initiatives directed towards research studies utilizing mass spectroscopy further accelerate market growth. These funding programs incentivize innovation and drive demand for mass spectrometry solutions, reinforcing North America's leading position in the global market.

The Asia-Pacific is expected for growth in the forecast period driven by increased utilization of mass spectroscopy within pharmaceutical and food testing industries. As these sectors experience rapid expansion and technological advancements, the demand for accurate and efficient analytical techniques such as mass spectroscopy rises. This method plays a crucial role in drug development, quality control, and safety assessment in pharmaceuticals, as well as in ensuring food safety and compliance with regulatory standards. Consequently, the growing adoption of mass spectroscopy in these key industries is anticipated to fuel market growth in the Asia-Pacific 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 such as 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 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 market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.

Competitive Landscape and Mass Spectrometry Market Analysis

The 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 market.

Some of the major players operating in the market are:

• Thermo Fisher Scientific Inc. (U.S.)
• SCIEX (U.S.)
• Agilent Technologies Inc. (U.S.)
• Waters Corporation (U.S.)
• PerkinElmer Inc. (U.S.)
• Shimadzu Corporation (Japan)
• Bruker (U.S.)
• Analytik Jena GmbH+Co. KG (Germany)
• JEOL Ltd. (Japan)
• Rigaku Corporation (Japan)
• LECO Corporation (U.S.)
• Hiden Analytical (U.K.)
• Hitachi Ltd. (Japan)
• KORE TECHNOLOGY (U.K.)
• Eurofins Scientific (Luxembourg)
• Ion Science (U.K.)
• AMETEK. Inc. (U.S.)
• Danaher (U.S.)

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