Global Mass Spectrometry Market - 2023-2030

Market Overview

The global mass spectrometry market reached US$ 4,830.1 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 8,566.0 million by 2030. The market is expected to exhibit a CAGR of 7.6% during the forecast period (2023-2030).

Mass spectrometry is an effective technique for discovering, categorizing, and quantifying substances based on the ion-charge ratio. Given its efficacy in these processes, mass spectrometry has developed into a valuable tool to assess in many biopharmaceutical companies and research organizations. To separate complicated mixtures like derived peptide products, modern mass spectrometry technologies like mobility spectrometry and capillary electrophoresis are used.

In the fields of food and beverages, pharmaceutical, and biological research, mass spectroscopy is widely used for testing. New drug development, drug repurposing, and expanded pharmaceutical formulation production have all enhanced the need for safety and quality control procedures in the pharmaceutical industry. Due to stringent government regulations and growth in the need for quality control, mass spectrometry is being employed more frequently across a variety of industries.

Market Dynamics

Rising R&D Expenditure By The Pharmaceutical Industry Drives The Growth Of The Mass Spectrometry Market.

The increased use of mass spectrometry in proteomics, genomics, hospitals, metabolomics, and pharmaceutical for drug discovery, as well as rising trends in spectrometer miniaturization, new product launches, and technological breakthroughs, are driving the growth of the mass spectrometry market.

As funding for scientific research and development rises, it is projected that demand for mass spectrometers in proteomics, drug discovery, and pharmaceuticals would increase, driving market growth. Because of advancements in mass spectroscopy technology, aspects like speedy test results with great resolution were also able to be raised. Mass spectroscopy is used in many different industries, such as drug research, pharmaceuticals, food safety testing, and others.

Growing Product Launches And Technological Advancements Create Lucrative Opportunities For Manufacturers.

There is a sizable market opportunity for mass spectrometry as it is becoming more widely accepted by biotechnology and pharmaceutical companies for various research studies. Manufacturers are going to have profitable choices for growth as demand for products utilized for mass spectrometry will be high.

As a result of the demands for applications in the life sciences, mass spectrometry technology has evolved. Mass spectrometry MALDI-ToF is a clinical diagnostic technique that uses a highly advanced method of protein pattern recognition to diagnose diseases. Due to the accelerating speed of technological development, it is therefore projected that the market would increase over the projection period.

The Premium Product Pricing Will Hamper The Growth Of The Market.

Because middle- or low-budget businesses frequently cannot afford these mass spectrometer instruments, the market is being impacted. However, because spectrometry equipment has more advanced features and functionalities, it is more expensive.

Additionally to the equipment's purchase price, there are typically significant costs associated with getting the system up to industry standards. Due to advancements in technology and increased operational efficacy, the demand for mass spectrometers has grown over time.

However, as technology has advanced, system costs have increased. The decision of end users to purchase a spectrometer is influenced by its price. The market for mass spectrometry is primarily constrained by these issues.

COVID-19 Impact Analysis

The COVID-19 analysis includes the Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario in addition to pricing dynamics (including pricing change during and after the pandemic evaluating it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply due to trading restrictions, lockdown, and afterward issues), government initiatives (initiatives to reactivate a market, industry, or sector by government bodies), and manufacturers strategic initiatives.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a low impact on the global mass spectrometry market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global mass spectrometry market growth over the forecast period.

Segment Analysis

The global mass spectrometry market is segmented based on product type, application and region.

Proteomics research from the application segment accounts for 41.7% of the market share owing to rising proteomics studies.

The study of proteins' relationships, biological functions, makeup, and architectures is known as proteomics. In comparison to genomics, proteomics offers a greater grasp of the composition and operation of the organism. However, because the expression of proteins varies with time and environmental factors, it is significantly more complicated than genomics.

Human proteins are thought to number close to a million, and many of them have post-translational modifications (PTMs) and other alterations. One-dimensional (1D) and two-dimensional (2D) gel electrophoresis (2-DE) and gel-free high-throughput screening technologies like label-free measurement of high-mass resolution tandem mass spectrometry and liquid chromatography are just a few of the proteomics techniques available.

Geographical Analysis

North America Accounted For Approximately 38.3% Of The Market Share Owing To The Strong Presence Of Major Players And Increasing Technological Advancements.

Manufacturers have chances to expand their operations in this region because of the rising demand for mass spectrometry for advancements in North America. The area has many producers and suppliers, and its rapid economic development has raised the industrial production of mass spectrometry products, which has increased the demand.

Growth is also fueled by rising technological advancements, regulatory approvals, and novel product launches. Individuals are becoming more aware of various kinds of novel studies in various fields such as proteomics, genomics, or drug discovery, leading to the expansion of the market in this region. These factors show the dominance of North America.

Competitive Landscape

The major global players in the mass spectrometry market include: Agilent Technologies, Danaher Corporation, Bruker Corporation, Hitachi Ltd, LECO Corporation, JEOL Ltd, MKS Instruments, Shimadzu Corporation, PerkinElmer Inc. and Thermo Fisher Scientific Ltd among others.

Why Purchase the Report?

• To visualize the global mass spectrometry market segmentation based on product type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of mass spectrometry market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global mass spectrometry market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies