Press release
Global Mass Spectrometry Market to Double by 2030, Reaching USD 12.8 Billion
The global mass spectrometry market, valued at USD 6.20 billion in 2023, is anticipated to reach USD 12.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.4% during the forecast period. This growth is driven by technological advancements, increased pharmaceutical research and development, and heightened demand across various industries, including biotechnology, environmental testing, and food safety.
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► Competitive Landscape
Leading companies in the mass spectrometry market include Thermo Fisher Scientific Inc., Agilent Technologies Inc., Danaher Corporation (SCIEX), Waters Corporation, Bruker Corporation, and Shimadzu Corporation. These industry leaders are actively engaging in product innovations, strategic partnerships, and mergers and acquisitions to strengthen their market positions.
► Regional Demand
The Asia-Pacific region is experiencing robust growth in the mass spectrometry market, fueled by technological advancements, expanding end-user industries, and increased government support for research and development. Notably, North Asia, comprising Japan, Taiwan, and South Korea, accounted for 65.6% of the total Asia-Pacific market and is projected to register a CAGR of 9.1% from 2016 to 2021.
► Country-Specific Insights
Vietnam: Opportunities in Pharmaceutical Research
Vietnam's growing pharmaceutical industry presents significant opportunities for mass spectrometry applications, particularly in drug discovery and quality control processes.
Thailand: Growth in Environmental Testing
Thailand's increasing focus on environmental sustainability has led to a surge in demand for mass spectrometry techniques for pollution monitoring and control.
Japan: Trends in Technological Innovations
Japanese companies are at the forefront of mass spectrometry technological innovations, developing advanced systems with enhanced accuracy, resolution, and sensitivity.
South Korea: Consolidation in Biotechnology Sector
South Korea's biotechnology sector is witnessing consolidation, with companies engaging in mergers and acquisitions to expand their mass spectrometry capabilities and market reach.
Singapore: Updation of Research Infrastructure
Singapore is investing in updating its research infrastructure, incorporating state-of-the-art mass spectrometry facilities to support cutting-edge scientific research.
United States: Opportunities in Clinical Diagnostics
The U.S. market is experiencing increased adoption of mass spectrometry in clinical diagnostics, driven by the need for precise and reliable analytical techniques in healthcare.
China: Growth in Food Safety Testing
China's emphasis on food safety has led to a heightened demand for mass spectrometry applications in detecting contaminants and ensuring product quality.
Europe: Trends in Sustainable Practices
European countries are adopting sustainable practices in mass spectrometry, focusing on energy-efficient instruments and environmentally friendly methodologies.
Mergers and Acquisitions
In January 2024, Standard BioTools acquired SomaLogic in an all-stock deal, aiming to enhance its mass spectrometry portfolio and expand its presence in the life sciences sector.
In October 2023, Thermo Fisher Scientific acquired Olink Holding for $3.1 billion, strengthening its capabilities in proteomics and mass spectrometry technologies.
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► Key Recent Developments
In June 2024, SCIEX (Danaher Corporation) announced a collaboration to develop artificial intelligence quantitation (AI quant) software to process data from the ZenoTOF 7600 system and SCIEX 7500+ mass spectrometers.
In June 2024, Thermo Fisher Scientific Inc. launched the Thermo Scientific Stellar Mass Spectrometer (MS), designed to enhance translational omics research with rapid throughput, high sensitivity, and user-friendly operation.
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► Mass Spectrometry Market Segmentation
by Technology
Hybrid Mass Spectrometry
Single Mass Spectrometry
by Application
Life Science Research
Drug Discovery
Environmental Testing
Food Testing
Applied Industries
Clinical Diagnostics
by End-User
Pharmaceutical Industry
Biotechnology Industry
Research & Academic Institutes
Environmental Testing Industry
Food & Beverage Testing Industry
Petrochemical Industry
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-mass-spectrometry-market/11231/
► Mass Spectrometry Market Key Players
1.PerkinElmer, Inc.
2.Thermo Fisher Scientific
3. Danaher Corporation
4.Bruker Corporation
5.Agilent Technologies
6.Waters Corporation
7.Shimadzu Corporation
8.Bio-Rad Laboratories
9.Rigaku
10. DANI Instruments
11.LECO
12. SCIEX
13. Advion, Inc.
14. Hiden Analytical
15. MS Vision
16. IONTOF GmbH
17. Extrel CMS
18. VIONIC Instruments
19. Hitachi High-Technologies Corporation
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