Global Mass Spectroscopy Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 2.73 Billion |
 Market Size (Forecast Year) |
USD 3.90 Billion |
 CAGR |
% |
| Major Markets Players |
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Global Mass Spectroscopy Market Segmentation, By 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) - Industry Trends and Forecast to 2031.
Mass Spectroscopy Market Analysis
Growing number of research and development proficiencies involving the application of analytical tools has carved the way for the growth of the market. According to the Organization for Economic Co-operation and Development (OECD), in 2018, in Germany, approximately 3.13% of GDP was spent on research and development and these investments in research and development activities are expected to increase the demand for mass spectrometer in drug development, proteomics, and pharmaceuticals.
Mass Spectroscopy Market Size
Global mass spectroscopy market size was valued at USD 2.73 billion in 2023 and is projected to reach USD 3.90 billion by 2031, with a CAGR of 4.54% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes |
Mass Spectroscopy Key Market Insights |
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Segmentation |
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Countries Covered |
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. |
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Key Market Players |
Thermo Fisher Scientific, Inc. (US), SCIEX (US) Agilent Technologies, Inc. (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), Hiden Analytical (UK), Kore Technology (UK), Extrel CMS (US), MassTech Inc. (US), AMETEK Process Instruments (US), MKS Instruments (US), Advion (US), and Teledyne FLIR LLC(US) |
Mass Spectroscopy Market Definition
Mass spectroscopy is a medical technology that is used to analyse a given sample and identify the quantities of compound in that given sample. This technology is used to measure and chalk out the unknown components and compounds using electrons.
Mass Spectroscopy Market Dynamics
Drivers
- Rising technological advancements
Surging technological advancements in the mass spectrometers in one of the major factors fostering the growth of the market. Mass spectroscopy plays an important role for the pharmaceutical industry. Therefore, increased funding to develop the pharma infrastructure will directly influence the market growth.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted by pharmaceutical and biopharmaceutical countries for the integration of advanced technologies in the healthcare facilities is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Growing initiatives taken by the government pertaining to environmental testing and stringent regulations imposed on environmental pollution is also escalating the market value. Also, high return on investments assured by the research activities will also work in the favour of the market.
Additionally, initiatives by the government to spread awareness especially in the developing economies, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing cases of high blood pressure, high blood cholesterol and obesity, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, growing consumption of tobacco products and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2024 to 2031. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, bad and unhealthy lifestyle of individuals, growing cases of chronic obstructive pulmonary disease, and type 2 diabetes and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and the fact that technological developments have increased system prices are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, requirement for high capital investments for setting up production facilities, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2024-2031.
This mass spectrometry 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 mass spectrometry market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Mass Spectroscopy Market
COVID-19 has significantly and positively impacted the market. This pandemic has resulted in rise in demand for technologically advanced mass spectrometers from the pharmaceutical and biotechnology industries. In 2020 in India, researchers in big institutes such as Delhi-based Institute of Genomics and Integrative Biology (IGIB) and the National Center for Disease Control (NCDC) were able to find a novel coronavirus (COVID-19) with 95% sensitivity and 100% by using a mass spectrometer. New drug developments in this pandemic wre on the rise which further promoted the growth rate of the market. Increased adoption of food and beverages sector further carved the way for the growth.
Mass Spectroscopy Market Scope
The mass spectrometry 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 Spectroscopy Market Regional Analysis
The mass spectrometry market is analyzed and market size insights and trends are provided by country, technology, application and end user as referenced above.
The countries covered in the mass spectrometry 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 the mass spectrometry market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, favourable government funding programs for research studies that use mass spectrometry, stringent regulatory scenario in the pharmaceutical industry and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, growing utilization rates of mass spectrometry in pharmaceutical industries and in food testing processes and the growing demand for quality healthcare in the 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 like 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 mass spectrometry 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 mass spectrometry market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the mass spectrometry market. The data is available for historic period 2010-2020.
Mass Spectroscopy Market Share
The mass spectrometry 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 mass spectrometry market.
Mass Spectroscopy Market Leaders Operating in the Market Are:
- Thermo Fisher Scientific, Inc. (US)
- SCIEX (US) Agilent Technologies, Inc. (US)
- Waters Corporation (US)
- PerkinElmer Inc. (US)
- Shimadzu Corporation (Japan)
- Bruker (US)
- Analytik Jena (Germany)
- JEOL (Japan)
- Rigaku (Japan)
- DANI Instruments (Italy)
- LECO (US)
- Hiden Analytical (UK)
- Kore Technology (UK)
- Extrel CMS (US)
- MassTech Inc. (US)
- AMETEK Process Instruments (US)
- MKS Instruments (US)
- Advion (US)
- Teledyne FLIR LLC(US)
Latest Developments in Mass Spectroscopy Market
- In October 2020, Shimadzu expanded its operation by establishing its branch office in Copenhagen, Denmark. This expansion allowed the company to focus on providing its full range of analytical instrumentation solutions in the region
- In April 2020, the UK diagnostics firm MAP Sciences announced the development of a rapid test for the COVID-19 virus
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
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