Liquid Chromatography Mass Spectrometry (LCMS) Market Segmentation And Analysis By Recent Trends, Development Trends And Growth Rate By Regions, Forecast To 2026

Liquid chromatography mass spectrometry (LCMS) market has grown significantly over the last decade. Increasing research and development expenditure in the healthcare sector and increasing adoption of various growth strategies by the market players has boosted demand for liquid chromatography mass spectrometry services in recent years. These systems have application in biotechnology and pharmaceutical industries. Rising number of product launches and increasing number of clinical trials is expected to fuel demand for liquid chromatography mass spectrometry over the forecast period.

Major players operating in the global liquid chromatography mass spectrometry market include Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc.

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Market Dynamics

Increasing number of clinical trials and research and development expenditure in the healthcare sector is expected to drive the market growth. For instance, according to Clinical Trials.gov, the number of clinical studies registered in 50 states and 209 countries in 2018 was 293,353 and 262,371 in 2017.

The companies engaged in the liquid chromatography mass spectrometry market are expected to generate significant return-on-investment (ROI) over the forecast period, owing to increasing adoption of growth strategies such as partnerships, as well as product launches by market players. For instance, in March 2019, Shimadzu Corporation launched the Nexera Ultra High-Performance Liquid Chromatograph series, incorporating artificial intelligence, which allows systems to detect and resolve issues automatically. The system makes lab management simple by integrating IoT and thus allows users to achieve higher throughput.

Moreover, increasing adoption of strategic collaborations in order to establish training centers and provide knowledge regarding proteomics and mass spectroscopy to researchers is expected to drive the market growth over the forecast period. For instance, in 2017, SCIEX and Protein and Proteomics Centre (PPC), collaboratively launched a proteomics and mass spectrometry training center at the National University of Singapore’s (NUS) Faculty of Science in 2018. The training center is expected to help researchers based in Singapore to enhance research and development activities. Furthermore, in 2017, Pan Africa Chemistry Network (PACN) organized the first LC-MS workshop in Kenya. The PACN conducted six week training courses across four countries in Africa, training over 90 researchers.

Increasing research and development expenditure in the healthcare sector is expected to propel growth of the liquid chromatography mass spectrometry market

Increasing research and development expenditure in the healthcare sector is expected to drive growth of the liquid chromatography mass spectrometry market. For instance, according to the National Bureau of Statistics, February 2018, China’s expenditure on research and development increased by 11.6% in 2017 from 10.6% in 2016, reaching US$ 280 Mn in 2017.

Companies are expanding their offerings in the potential market through product launches, which is expected to drive the market growth. For instance, in June 2019, AB Sciex LLC, a subsidiary of Danaher Corporation launched TripleTOF 6600+ LC0-MS/MS System with Scanning SWATH Acquisition, and OneOmics in SCIEX Cloud.

TripleTOF 6600+ LC-MS/MS System has low-flow source technology which offers large-scale, precise and robust quantification. Moreover, in October 2016, PerkinElmer, Inc. launched QSight Triple Quadrupole LC/MS/MS instrument in China. The QSight triple quad system has patented low-based mass spectrometry, which enhances sensitivity for the analysis of complex samples.

However, high cost associated with LCMS systems is one of the major factors which is expected to hamper growth of the liquid chromatography mass spectrometry market over the forecast period. Moreover, these mass spectrometry methods are labor intensive and require technically skilled workforce. However, limited number of skilled operators is expected to hamper the global liquid chromatography mass spectrometry market growth.

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Increasing product launches and adoption of inorganic growth strategies in North America are expected to drive the market growth

North America held a dominant position in the global liquid chromatography mass spectrometry market, due to increasing product launches, mergers, and acquisitions strategies adopted by market players. For instance, in 2017, Agilent Technologies Inc. launched a triple quadrupole liquid chromatography mass spectrometer (triple quad LC/MS) at the American Society for Mass Spectrometry Conference (ASMS). Moreover, in February 2019, Clarivate Analytics launched Life Science Alliances Program to provide drug and medical device developers a way to significantly advance their research and development (R&D) activities, and commercialization initiatives. This is expected to increase demand for LCMS systems and accelerate the market growth.

Moreover, increasing research and development expenditure is a major factor, which is expected to drive the liquid chromatography mass spectrometry market growth in North America. For instance, according to the Pharmaceutical Research and Manufacturers of America, in 2016, the biopharmaceutical industry in the U.S. invested around US$ 90 billion in research and development activities.

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