Press release
Mass Spectrometry Market to Witness Comprehensive Growth by 2021
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The global mass spectrometry market is categorized based on various technologies and by applications. Technology segment includes gas chromatography-mass spectrometry (GC-MS), liquid chromatography-mass spectrometry, matrix-assisted laser desorption/ionization-time of flight spectrometry (MALDI-TOF), triple-quadrupole liquid chromatography-mass spectrometry, quadrupole-time of flight liquid chromatography-mass spectrometry, inductively coupled plasma mass spectrometry and others. MALDI-TOF is the fastest growing sub-segment in global mass spectrometry market. This is due to increased usage of the technology in clinical diagnostic field.
Application segment is further sub-segmented into pharmaceutical, environmental testing, food and beverages testing, biotechnology, industrial chemistry and others. Pharmaceutical segment is the largest sub-segment in global mass spectrometry market. This is due to increased usage of mass spectrometry in drug safety. Mass spectrometry also reduces costs associated with drug discovery procedures.
In terms of geographic, North America dominates the global mass spectrometry market. This is due to increased government investments in biotechnology and biomedical areas. In addition, increased research in the field of proteomics is also supporting in the growth of mass spectrometry in the region. The U.S. represents the largest market for mass spectrometry techniques followed by Canada in North America. In Europe, France, Germany, Italy, Spain and the U.K. holds major share of mass spectrometry market. However, Asia is expected to show high growth rates in the next five years in global mass spectrometry market. This is due to many companies constructing their manufacturing and research facilities in the region. In addition, increasing number of conferences and exhibitions by manufacturing companies to promote mass spectrometry technology is also contributing in the growth of mass spectrometry market in the region. Japan, China and India are expected to be the fastest growing mass spectrometry markets in Asia.
In recent time, increasing government spending in life science research and increased R&D spending in pharmaceutical industry are some of the major drivers of global mass spectrometry market. In addition, growing food concerns in food and beverages industry has also fueled the growth of global mass spectrometry market. Moreover, technological advancement in mass spectrometry also attracts end users to adopt the technology.
However, high cost of instruments is key restraint of global mass spectrometry market. In addition, lack of skill labor to operate expensive instruments also obstructs the growth of global mass spectrometry market. Increasing mergers and collaborations between key players is key trend of the global mass spectrometry market.
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Some of the major companies operating in the global mass spectrometry market are Danaher Corporation, Shimadzu Corporation. Waters Corporation, Thermo Fisher Scientific, Inc., Bruker Corporation, PerkinElmer, Rigaku, Bio-Rad Laboratories, Jeol Ltd. and Agilent Technologies.
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