Mass Spectrometry Market Size worth $5.6 Billion | Thermo Fisher Scientific (US), SCIEX (US) Agilent Technologies (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US)

The global mass spectrometry market in terms of revenue was estimated to be worth $4.5 billion in 2022 and is poised to reach $7.0 billion by 2028, growing at a CAGR of 7.5% from 2023 to 2028.

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30 - Figures
190 - Pages

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Increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, is creating demand opportunities for the mass spectrometry. Also, growing focus on the quality of food products, increase in crude and shale gas production, and growing government initiatives for pollution control and environmental testing drive the global mass spectrometry market.

Hybrid mass spectrometry segment is expected to grow at the highest CAGR during the forecast period. Advantages offered by hybrid mass spectrometers, such as rapid and high-resolution testing abilities with more accurate and precise results, are increasing its adoption. Consequently, the demand for mass spectrometry devices for high throughput screening is also growing. Such factors are expected to drive hybrid mass spectrometry market.

Geographical Growth Scenario:

North America is estimated to be the largest market for mass spectrometry during the forecast period. The mass spectrometry market in North America is driven primarily by factors such as the growing funding for research and government initiatives in the US, widespread usage of mass spectrometry in the metabolomics and petroleum sector, and CFI funding towards mass spectrometry projects in Canada. The US government increased its R&D budget from USD 538 billion to USD 553 billion during 2017 to 2019. Furthermore, in 2019, the NIH invested USD 32 billion for biomedical research (Source: US Department of Health and Services).In addition, regulatory agencies in the US, such as the Food and Drug Administration (FDA), are encouraging the use of analytical techniques to ensure that the pharmaceutical products released in the market adhere to quality requirements. Lately, the US has seen a significant increase in the shale gas and crude oil production with increasing oil fields and this has resulted in subsequent increase in the employment of analytical tools such as mass spectrometers.

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Key Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the mass spectrometry market. The major players in the mass spectrometry amrket are Thermo Fisher Scientific (US), SCIEX (US) Agilent Technologies (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), and Hiden Analytical (UK).

These players are adopting various strategies to increase their share in the mass spectrometry market. Collaborations & agreements, new product launches, expansions and mergers have been a widely adopted strategy by the major players in the mass spectrometry industry.

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