Mass Spectrometry Market

The global Mass Spectrometry Market is valued at USD 5.1 Billion in 2022 and is projected to reach a value of USD 9.3 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.9% between 2023 and 2030.

Premium Insights

One of the most powerful instruments or procedures for evaluating various biological and chemical entities is Mass Spectrometry. It is used to calculate the mass-to-charge ratio of molecules in a sample. Mass spectrometers are useful for quantifying known substances, identifying novel compounds, and determining the structure and chemical properties of molecules. In the pharmaceutical and medicinal disciplines, Mass Spectrometry has numerous applications. Healthcare and pharmaceutical investments are expanding in many countries' economies. People over the age of 65 will account for around 11.6 percent of the worldwide population, which is predicted to enhance the pharmaceutical business greatly. Rising demand and the corresponding need to meet these expectations are important factors driving Mass Spectrometry market expansion.

• With the rise in chronic illness prevalence and increased R&D investments for the development of new diagnostic tools, demand for Mass Spectrometry is likely to rise in the near future.
• The instruments segment is the leading segment for the product segment.
• In 2022, North America dominates the Mass Spectrometry market with a market share of 42.60% and is predicted to exhibit a similar trend during the forecast period.
• The Asia Pacific region is having the largest CAGR growth between 2023 and 2030.

Top Market Trends

1. Another factor driving market growth is the presence of set rules and recommendations by regulatory agencies and organizations for the usage of Mass Spectrometry in the field of proteomics. For example, in 2020, The Human Proteome Organization's Human Proteome Project (HPP) modified the recommendations for Mass Spectrometry data interpretation. These guidelines are intended to assure high accuracy and minimal false-positive protein identifications, and they are predicted to improve the efficiency of Mass Spectrometry processes, hence influencing market growth.
2. In the pharmaceutical and biotechnology industries, increased R&D investments constitute a driving force. Occasional costs: D-Pharma firms have expanded dramatically during the last two decades. Investments in important sectors such as biopharmaceuticals and customized medicine boost pharmaceutical and biotechnology research. From the early stages of drug discovery to late-stage development and clinical trials, Mass Spectrometry is crucial in the pharmaceutical sector. As a result, the Mass Spectrometry market is likely to be driven by rising investment in the pharmaceutical and biotechnology industries.
3. Higher resolution and improved throughput are provided by technological developments, which benefit market growth. It will improve the method of determining the mass-to-charge ratio of ions. The improved technological improvement will improve measuring accuracy. It will display the precise value as a mass spectrum and an intensity map as a function of the mass-to-charge ratio. These elements will ensure the market's expansion.
4. Government support is critical to the expansion of the Mass Spectrometry market. Governments frequently contribute cash to promote research and development initiatives in the healthcare, life sciences, and environmental sectors. Government money is frequently used to assist translational research activities, which try to bridge the gap between scientific discoveries and practical applications. These elements will assure market expansion.
5. Developing countries offer numerous opportunities for expanding the Mass Spectrometry business. Because of the Greenfield projects deployed in a variety of end-user sectors in China and India, there was a high demand for mass spectrometers and hybrid spectrometry devices. Key enterprise players are establishing new facilities, R&D facilities, and innovation facilities to capitalize on this enticing opportunity in conjunction with Asian market participants.
6. Spending on end-user R&D has increased due to the acceleration of disease rates caused by the most prevalent chronic diseases. The mass spectrometer is extremely important in the hunt for new medications since it delivers distinct and significant information on molecular interactions and protein functions. MS is now being used in pharmaceutical research and development due to a better understanding of the disease process at the molecular level. Because of the rapid development of mass spectrometer methodology, the sensitivity and resolution of MS are expected to create higher quality and improve the likelihood of its employment in big protein targets.

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Economic Insights

Economic pressures can exacerbate competition among Mass Spectrometry producers, resulting in price wars or pressure to cut the cost of instruments and consumables. While this may assist customers in the near term, it may have a long-term impact on company profitability and growth prospects. International trading in Mass Spectrometry equipment and components is common. Trade disputes or disruptions in the global supply chain caused by economic reasons such as taxes or import/export restrictions can hinder the movement of equipment and supplies, thereby impeding market growth.

Market Segmentation

The Global Mass Spectrometry Market is segregated into the below-mentioned segments as:

The global Mass Spectrometry market can be categorized into Product, Sample Preparation Technique, Application, End User, Region. The Mass Spectrometry market can be categorized into Instruments, Hybrid Mass Spectrometry, Triple Quadrupole, Quadrupole ToF (Q-ToF), Single Mass Spectrometry, Quadrupole, Time-Of Flight (ToF), lon Trap, Software & Services based on Product. The Mass Spectrometry market can be categorized into GC-MS, LC-MS, ICP-MS, Other Sample Preparation Techniques based on Sample Preparation Technique. The Mass Spectrometry market can be categorized into OMICS Research (Genomics, Proteomics and Metabolomics), Drug Discovery, Environmental Testing, Food Testing, Pharma-Biopharma Manufacturing, Clinical Diagnostics, Applied Industries, Other Applications based on Application. The Mass Spectrometry market can be categorized into Pharmaceutical Companies, Biotechnology Companies, Research Labs & Academic Institutes, Environmental Testing Labs, F&B Industry, Forensic Labs, Petrochemical Industry , Other End Users based on End User. The Mass Spectrometry market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product

Instruments to Lead Maximum Market Share Due to The Technological Advances And Growing Use Of Them

In 2022, the Instruments segment is poised to dominate the global market for Mass Spectrometry. Spectrometers have a wide range of uses in the biotechnology sector, and there is a growing understanding of the advantages of Mass Spectrometry workflows. These tools can be utilized in clinical and preclinical drug discovery testing, as well as biomedical research in the pharmaceutical industry. For example, high-resolution hybrid Mass Spectrometry can be employed in the development of cancer cell treatments. In recent years, the approach has become more significant for proteomics-based research applications such as determining the molecular mass of peptides and peptide sequences. Advances in Mass Spectrometry applications are expected to drive the segment.

Based on End User

Pharmaceutical Company's segment dominates due to the Growing Use of Protein sequencing.

In 2022, the pharmaceutical companies segment will dominate the Mass Spectrometry market because of the widespread use of protein sequencing employing Mass Spectrometry in the pharmaceutical industry for drug discovery and development processes. The increasing need for biomolecule analysis and medication component analysis is likely to fuel market segment growth. With rising investments in biopharmaceutical research and more R&D opportunities in the proteomics domain, the segment is likely to grow rapidly in the future years. Increased R&D efforts have increased the sensitivity and resolution of the instrument, opening up new options for pharmaceutical use.

Based on Application

OMICS Research (Genomics, Proteomics, and Metabolomics) to Lead Maximum Market Share Due to the Growing Use of Them

In 2022, the OMICS Research (Genomics, Proteomics, and Metabolomics) segment is poised to dominate the global market for Mass Spectrometry. Proteomics research based on Mass Spectrometry is a comprehensive technique for quantitative profiling of proteins and analyzing protein-protein interactions. Advances in quantitative proteomics techniques and their general availability have broadened the possibilities for examining protein function, structure, transformation, and overall protein dynamics.

Furthermore, advances in Mass Spectrometry technology are paving the way for single-cell analysis and clinical applications. The method is expected to gain traction in a variety of applications, including the detection of novel biomarkers, mapping molecular tissue, and enhancing illness diagnostics. Such advances are likely to propel the Mass Spectrometry market's growth potential.

Based on the Sample Preparation Technique

LC-MS segment dominates due to the Growing Technological Advancement

In 2022, the LC-MS segment will dominate the Mass Spectrometry market Liquid chromatography- (LC-MS) is a sophisticated analytical technique that combines liquid chromatography's separation skills with 's detection and identification capabilities. This makes it a highly sensitive and adaptable approach for analyzing a wide range of substances such as proteins, peptides, lipids, and metabolites.LC-MS works by first isolating the components of the sample using liquid chromatography. The sample is inserted into a stationary phase-packed column. The different components of the sample interact differently with the stationary phase, causing them to elute from the column at different times.

Based on Region

North America To Dominate Global Sales Owing to Increased Financing For R&D Activities And Extensive Usage Of Mass Spectrometer Devices In The Life Sciences

In 2022, North America holds a significant share of the Mass Spectrometry market. Because of increased R&D investment, widespread usage of mass spectrometer instruments in the metabolomics, life sciences, and petroleum industries, as well as the presence of important market competitors in the region. Because of strong government and private sector investment in research and development, the United States will have the biggest market share in North America for Mass Spectrometry, also due to the large level of research and development activities and the availability of a developed research and healthcare infrastructure. Similarly, the region's increased emphasis on disease control measures is driving demand for Mass Spectrometry. Furthermore, government financing in the region is substantial, which is projected to stimulate market expansion. For example, the National Eye Institute, National Heart, Lung, and National Human Genome Research Institute all promote UniProt, a free portal for getting protein sequencing and functional information.

The Mass Spectrometry industry in Asia Pacific is rapidly growing in popularity. Due to the availability of a large population and rising focus on healthcare systems. Similarly, the growing interest in proteomics and genomics research, as well as the increase in initiatives made by academic institutions for the development of protein-based treatments, have created considerable growth opportunities for the Asia Pacific market. Increased investments in healthcare infrastructure, rising R&D activities, expanding pharmaceutical and biotechnology sectors, and expanding Mass Spectrometry applications are driving market expansion. The region's huge population and rising healthcare costs contribute to the market's expansion.

Competitive Landscape

The global Mass Spectrometry market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies Inc. (U.S.), Danaher Corporation (U.S.), Waters Corporation (U.S.), and BrU.K.er Corporation (U.S.) to name a few. These businesses are focusing on research and development in order to create innovative and sustainable products. Furthermore, strategic alliances, mergers, and acquisitions are common in the industry as organizations seek to extend their product offerings and market presence.

The key players in the global Mass Spectrometry market include - Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies Inc. (U.S.), Danaher Corporation (U.S.), Waters Corporation (U.S.), BrU.K.er Corporation (U.S.), Shimadzu Corporation (Japan), PerkinElmer Inc. (U.S.), Rigaku Corporation (Japan), LECO Corporation (U.S.), JEOL Ltd. (Japan) among others.

Recent Market Developments

• In June 2022, Agilent Technologies Inc. introduced new quadrupole mass spectrometers for LC/MS and GC/MS. The new products include instrument intelligence built in to simplify lab operations.
• In June 2022, During the ASMS 2022 Conference, Thermo Fisher Scientific announced new Mass Spectrometry instruments, workflows, software, and industry alliances. The company demonstrated ways to speed up next-generation vaccine and therapeutic research and gain better analytical insights.
• In June 2022, At the American Society for Mass Spectrometry (ASMS) 2022 Annual Conference, Waters Corporation revealed new instruments, software, and product advancements to help drive drug discovery and development.

Segmentation of the Global Mass Spectrometry Market