Q-TOF Mass Spectrometry Market Trends for Biotech, Pharmaceutical, Environmental and Petrochemical Applications - Report Says This Industry Worth US$ 1,009.7 Million by 2022

Report analyzes the Q-TOF mass spectrometry market and aims at estimating the market size and the future growth potential of this market based on various segments such as application and region. The report also includes competitive analysis of the key players in this market, along with their company profiles, product and service offerings, recent developments, and key market strategies.

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Global Q-TOF mass spectrometry market is expected to reach USD 1,009.7 million by 2022 from USD 698.4 million in 2017, at a CAGR of 7.7%. Key factors driving growth of overall Q-TOF mass spectrometry market include high investments in pharmaceutical research & development, favorable government initiatives, & increased focus on producing high-quality food.

North America is expected to be the fastest-growing region in global Q-TOF mass spectrometry market. This region is projected to register the highest CAGR during the forecast period. The large share of the North American market can be attributed to the factors such as the increasing government support and rising funding for biomedicaland bio pharmaceutical R&D in the US.

Key Target Audience:
• Mass spectrometry and related device manufacturing companies
• Suppliers and distributors of mass spectrometry systems
• Research institutes and academic centers
• Pharmaceutical and biopharmaceutical companies
• Biotechnology companies
• Environment protection agencies and institutes
• Food, beverage, and agricultural analyses companies
• Cosmetic companies

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Q-TOF mass spectrometry market is segmented into pharmaceutical applications, biotechnology applications, food & beverage testing, environmental testing, petrochemical applications, and other applications. Biotechnology applications accounted for the largest share of the Q-TOF mass spectrometry market in 2016 towing to the growing use of Q-TOF mass spectrometers for quantitative and qualitative analyses in the rapidly growing research areas of proteomics and metabolomics.

Mass Spectrometry Market, by Application
• Biotechnology Applications
• Pharmaceutical Applications
• Food & Beverage Testing
• Environmental Testing
• Petrochemical Applications
• Other Applications

The report analyzes Q-TOF mass spectrometry market by application and region. On basis of application, the Q-TOF mass spectrometry market has been segmented into biotech applications, pharmaceutical applications, food and beverage testing, environmental testing, petrochemical applications, & other applications. In 2017, biotech applications are expected to account for largest share of market & this segment is also projected to register highest CAGR during forecast period.

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The availability of government funding for various research projects in a number of countries such as the US and Canada will open new opportunities for market players. In the US, the National Institute of Health (NIH) has provided a grant of USD 694 million for Environmental Health Sciences (NIEHS) and USD 344 million for Biomedical Imaging/Bioengineering (NIBIB).

Break of primary participants was as mentioned below:
• By Company Type – Tier 1–53%, Tier 2–31%, and Tier 3–16%
• By Designation – C-level Executives–41%, Directors–28%, and Others–31%
• By Region – North America–36%, Europe–24%, AsiaPacific–29%, and RoW–11%

Top players involved in Q-TOF mass spectrometry market include Bruker Corporation (US) and Shimadzu Corporation (Japan). Waters Corporation (US), Agilent Technologies (US), and SCIEX [(a part of Danaher Corporation (US)] are key players in the Q-TOF mass spectrometry market.

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This release was published on openPR.