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Global Mass Spectrometry Market

March 16, 2018

Global Mass Spectrometry Market, By Platform (Hybrid Mass Spectrometry (Triple Quadrupole, Q-ToF, FTMS), Single Mass Spectrometry (Quadrupole, ToF, Ion Trap), By Application (Pharmaceutical & Biotechnology, Environmental Testing, Food & Beverage Testing, Petrochemicals, and Other Applications), By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) - Global Forecast, 2020-2025.

Report Code : FMR187      
Industry : Medical Devices
Pages : 242 Pages
Format :   PPT Format   PDF Format

The global mass spectrometry market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020 and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). Mass spectrometry is a technique to measure the mass-to-charge ratio of ions with results shown in the mass spectrum. It is employed in the field of isotopic ratio MS, trace gas analysis, and atom probe, among others. The implementation of this technology plays a major role in laboratory medicine. Increasing advancement in technology along with the expanding application base is expected to increase the demand for the technique in the medicine industry. This technology helps in the identification and analysis of the various scenarios such as confirmation of immunoassay-positive drug screens, identification of inborn errors of metabolism, analysis of steroid hormones, and quick microbial identifications.  

Table 1. Global Mass Spectrometry Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Platform)

Hybrid Mass Spectrometry (Triple Quadrupole, Q-ToF, FTMS), Single Mass Spectrometry (Quadrupole, ToF, Ion Trap)

Market Segmentation (By Application)

Pharmaceutical & Biotechnology, Environmental Testing, Food & Beverage Testing, Petrochemicals, and Other Applications

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa

Key Players Coverage

Flir Systems, Sciex, Perkinelmer, Waters Corporation, Shimadzu Corporation, LECO, Bruker, Agilent Technologies, Jeol, Kore Technology, MKS Instruments, Analytik Jena, Rigaku, DANI Instruments, Hiden Analytical, Extrel CMS, MassTech, Advion, Thermo Fisher Scientific, and among others

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

Analytical specificity and sensitivity provided by mass spectrometry have driven its growth in laboratory medicine. Its adoption for the measurement of testosterone and other sex steroids attributes significant growth in the market. For the treatment of infertility, certain cancers, virilization, and polycystic ovary syndrome in patients require measurement of testosterone. Thus, mass spectrometry is widely used owing to the superior analytical specificity and its ability to measure testosterone from a wide concentration range. Another factor contributing to the growth of the mass spectrometry market is a reduction in the cost of higher volume tests, even though the initial cost of the equipment is high. Apart from the advantages provided by mass spectrometry, factors such as the requirement of skilled labor and lack of automation services hinder the growth of the market.

Figure 1. PORTER’S Analysis

 

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America dominates the market with the largest share in 2019 and is expected to retain the same position in the forecast period. The growth is attributed to high spending by the U.S. in R&D in the healthcare and pharmaceutical industry. The well-established medical device industry of the U.S. further attracts a huge amount of investment for R&D. Also, the presence of the major companies in this region has spurred the growth of the mass spectrometry market. In 2018, the total investment of the U.S. in medical and health R&D grew by 6.4% as per Research America Organization. Furthermore, Europe is expected to grow at a significant growth rate during the forecast period. According to the European Commission, in 2019, companies in the European Union have invested considerably in R&D for various sectors such as automobile, health, and ICT sectors. The European Union R&D growth sector embraces the healthcare industry at 3.8% of the growth. This enables the full-fledged growth of Europe in terms of medical R&D which supports the growth of the mass spectrometry market.

 

Figure 2. Regional Analysis

 

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in the global mass spectrometry market include Flir Systems, Sciex, PerkinElmer, Waters Corporation, Shimadzu Corporation, LECO, Bruker, Agilent Technologies, Jeol, Kore Technology, MKS Instruments, Analytik Jena, Rigaku, DANI Instruments, Hiden Analytical, Extrel CMS, MassTech, Advion, Thermo Fisher Scientific, and among others.

The competitive rivalry among the players in the mass spectrometry market is growing owing to the advancement in the technologies leading to develop new products. The companies are actively working in terms of developing new products with a view to expanding the product portfolio. For instance, in April 2018, SCIEX Diagnostics launched the Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS Systems for clinical diagnostics, and Shimadzu launched LCMS 9030 which is the first Quadrupole TOF LCMS System. In addition to this, in September 2019, Agilent launched the Novel "Self-aware" Mass Detector. Such continuous product development by the players increases the competition level in the market and enhance the growth of the market.

Figure 3. Market Share of Key Players, 2019

 

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Platform

  • Hybrid Mass Spectrometry
    • Triple Quadrupole
    • Quadrupole ToF (Q-ToF)
    • Fourier Transform Mass Spectrometry (FTMS)
  • Single Mass Spectrometry
    • Quadrupole
    • Time-of-Flight (ToF)
    • Ion Trap

By Application

  • Pharmaceutical & Biotechnology
  • Environmental Testing
  • Food & Beverage Testing
  • Petrochemicals
  • Other Applications

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa
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Note: This report provides an in-depth analysis of the global mass spectrometry market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global mass spectrometry market?
  • What key factors are expected to increase the demand for the mass spectrometry market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global mass spectrometry market?
  • What is the total market value (US$ Mn) generated in the global mass spectrometry market by the platform in 2019 and what are the forecasts by 2025?
  • Which application (pharmaceutical & biotechnology, environmental testing, food & beverage testing, petrochemicals, other applications) is expected to dominate the mass spectrometry market in the coming years?
  • What was the total revenue generated by the global mass spectrometry market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global mass spectrometry market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the mass spectrometry market?
  • What are the major outcomes derived from Porter’s five forces?
  • What new products are going to be approved or launched in the coming years which may have a huge impact on the market?
  • What insights are derived through the analysis of key players on the following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?
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