Press release
Global Mass Spectrometry Market Growing at a CAGR of 9.0% by 2024
"Global Mass Spectrometry Market" – Industry Trends and Forecast to 2024
The mass spectrometry market accounted to USD 5.8 billion in 2016 growing at a CAGR of 9.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Mass spectrometry is an analytical technique which is used to identify the quantity and type of chemical in a given sample. The mass spectrometry analyzes the mass-to-charge ratio of ions in simple and complex mixtures.
Major market drivers and restraints:
• Increasing government funding in life science research
• R&D investments by pharmaceutical companies
• Technological advancement to adopt the new technology
• Growing concerns related to food safety
• High initial costs for installing the equipments
• Lack of knowledge and skilled professionals
Market Segmentation:
By technology the market for mass spectrometry is segmented into Single Mass Spectrometry and Hybrid Mass Spectrometry. The single mass spectrometry segment is further sub-segmented into ion trap, matrix assisted laser desorption/ ionization -time of flight, and quadrupole and hybrid mass spectrometry segment is sub-segmented into gas chromatography – mass spectrometry, liquid chromatography – mass spectrometry, triple quadrupole liquid chromatography – mass spectrometry, quadrupole time of flight liquid chromatography – mass spectromrtry, ion mobility mass spectrometry, and fourier transform ion cyclotron resonance mass spectrometry.
By product type the mass spectrometry market is segmented into equipment, reagents and consumables and services. On the basis of application the market is segmented into pharmaceuticals, biotechnology, industrial chemistry, environmental testing, food & beverage testing, others.
On the basis of end-users the mass spectrometry market is segmented into pharma/biopharmaceuticals, industrial sectors, academia and government and applied markets.
On the basis of geography, mass spectrometry market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Competitive Analysis:
The mass spectrometry market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mass spectrometry market for global, Europe, North America, Asia Pacific and South America.
Some of the major players operating in mass spectrometry market are Agilent Technologies, Inc., Danaher Corporation, Waters Corporation, Bruker Corporation, Thermo Fisher Scientific, Inc., Perkinelmer, Inc., Shimadzu Corporation, Kore Technologies, Ltd., Dani Instruments S.P.A., Leco Corporation among others.
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