Mass Spectrometry Market to Hit USD 9.62 Billion by 2030 with 7.2% CAGR | MarketsandMarkets Trademark

Browse 440 market data Tables and 62 Figures spread through 364 Pages and in-depth TOC on "Mass Spectrometry Market by Product (Instrument (Triple Quadrupole, Q-TOF, FTMS, Quadrupole, TOF), Software & Services), Sample (LC-MS, GC-MS), Application (Omics, Drug Discovery, Food, Environmental), End User (Pharma, Biotech) - Global Forecasts to 2030
The Mass Spectrometry market [https://www.marketsandmarkets.com/Market-Reports/mass-spectrometry-market-437.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=massspectrometrymarket] valued at US$ 5.82 Billion in 2023, is forecasted to grow at a robust CAGR of 7.2%, reaching US$ 6.33 Billion in 2024 and an impressive US$ 9.62 Billion by 2030. The market's growth can be attributed to mass spectrometers' applications in environmental sample testing of analytes like PFAS and microplastics in environmental testing which are expected to increase. The pharmaceutical industry's allocation of larger budgets for research and development and government regulation on drug safety will increase demand for mass spectrometers. Increasing investments in energy exploration and climate studies will stimulate demand for mass spectrometers. Also, the sensitive qualitative and quantitative mandates for food and beverage testing are expected to increase the demand in the mass spectrometry market.

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Browse in-depth TOC on "Mass Spectrometry Market"

400 - Tables

50 - Figures

250 - Pages

Based on product type, the mass spectrometry is segmented into instrument and software & services. During the forecast period, the instrument is expected to dominate the mass spectrometry market. The growth of mass spectrometry instruments will be driven by the procedural benefits offered by LC-MS and triple-quadrupole mass spectrometers.

The hybrid mass spectrometry segment accounts for the largest share of the mass spectrometry market. Hybrid mass spectrometers exhibit, rapid and high-resolution testing abilities with more accurate and precise results. As hybrid mass spectrometry techniques are more sensitive their adoption rate is more which helps them to acquire large share in the product category for mass spectrometry market.

Based on the sample preparation technique, the mass spectrometry is segmented into GC-MS, LC-MS, ICP-MS, and others. During the forecast period, LC-MS as a technique is expected to dominate the mass spectrometry market. LC-MS is one of the most commonly used analytical techniques in various sectors for the quantitation and identification of unknowns from a variety of complex samples. The use of LC-MS has expanded over the years as it offers both selectivity and specificity in analysis.

The growth is attributed to its several analytical advantages such as higher accuracy, improved lower detection limits and also its broad applicability to a wide range of rigorous demands of the analytical market.

Based on application, the mass spectrometry market is segmented into OMICS research, drug discovery, environmental testing, food testing, pharma-biopharma manufacturing, clinical diagnostics, applied industries, and other applications. During the forecast period, the OMICS research segment is estimated to hold the largest market share of the mass spectrometry market. In metabolomics, mass spectrometry has also shown promising results in diabetes studies, as it helps in distinguishing specific changes in the serum profile of metabolites extracted from healthy people and those with type 2 diabetes mellitus. It is also effective in newborn screening, leading to a portfolio of multiplexing assays for congenital metabolic errors.

The advancements in biological research in proteomics and genomics are the major drivers for growth. The segment includes life science-related research like Genomics, Proteomics, and Metabolomics.

Based on end users, the mass spectrometry market is segmented into pharmaceutical companies, biotechnology companies, research labs & academic institutes, environmental testing Labs, food and beverage industry, forensic labs, and petrochemical industry.

Pharmaceutical companies as a segment registered the fastest growth during the forecast period The pharmaceutical industry has facilitated the advancement of diagnostics & biomarker identification in the R&D sector, leading to its significant growth and dominance in the industry in the upcoming years. Also, the anticipated revenue growth of this segment during the forecast period is attributed to the rapid expansion of the pharmaceutical industry worldwide and the technological advancements in the pharmaceutical sectors.

Based on Geography, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are all included in the mass spectrometry market. North America holds the largest market share in the mass spectrometry market. It is the region known for its funding structure that encourages research and caters to the demand for continuous modernization of high-tech products.

Favourable manufacturing regulations have positioned North America as a region of some of the leading distributors and manufacturers of mass spectrometers. As a result, these factors contribute to North America's preeminence in the mass spectrometry market.

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The competitive landscape for the mass spectrometry market is composed of some strong multinational players that acquire a major share of the market, while at the same time, some of the SME's and regional players hold a measurable position in the market. Major players that operate in the mass spectrometry market are Agilent Technologies, Inc. (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Waters Corporation (US), Bruker Corporation (US), Shimadzu Corporation (Japan), PerkinElmer, Inc (US) Jeol, Ltd (Japan), Jasco (Japan), Teledyne Technologies Incorporated (US), MKS Instruments (US), Ametek, Inc (US), and Hitachi High-Tech Corporation (Japan)

Agilent Technologies, Inc (US)

Agilent Technologies offers a comprehensive portfolio of LC-MS, GC-MS, and ICP-MS in the mass spectrometry market. The company has a strong presence in North America and Europe. Over the last few years, the company has increased its R&D activities with a focus on investing a significant amount of its revenue in R&D; and will continue to have significant research and development expenditures to maintain its competitive position with a continuing flow of innovative, high-quality products and services. The company is also focusing on acquisitions, collaborations, and expansions to maintain its position in the market.

Thermo Fisher Scientific, Inc (US)

Thermo Fisher is a US-based company that offers a complete and integrated portfolio of solutions and services for laboratory research & analysis, healthcare & clinical science, manufacturing, and other fields. The company operates through four business segments, namely, Analytical Instruments, Life Sciences Solutions, Specialty Diagnostics, and Laboratory Products & Services. The Analytical Instruments business segment offers mass spectrometry products. Thermo Fisher being a major player can be attributed to its extensive portfolio of mass spectrometry equipment used for various applications. It focuses on expanding its product portfolio by introducing new and advanced mass spectrometers for customers in biotechnology, pharmaceuticals, toxicology, forensics, and other fields.

Waters Corporation (US)

Waters Corporation is among the prominent players in the mass spectrometry market. They specialize in liquid chromatography, mass spectrometry (MS), and thermal analysis systems, striving to advance scientific research worldwide. The offering for mass spectrometry covers all major types of analyzers, like quadrupoles and time of flight. Their MS portfolio includes technologies like QuanTof for high-resolution exact mass measurements, StepWave for trace component confirmation, Triwave for complex mixture characterization, and MS E for exact-mass ion spectra from samples. The company focuses on innovation, performance, and usability.

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