Mass spectrometry is an analytical technique used to measure known materials, to identify unknown compounds within a sample, and to evaluate the structure and chemical properties of different molecules. The technique ionizes chemical species and sorts the ions, based on their mass-to-charge ratio. Because of the high sensitivity of these techniques, mass spectroscopy has become a powerful analytical tool for testing in various industries.
The key factors which include the growth of the pharmaceutical and biotechnology industry and technological advancements in mass spectrometry are driving the growth of the global mass spectrometry market during the forecast period. The growing use of mass spectrometry in emerging markets and the rising potential for the application of high-resolution mass spectrometry in healthcare are the key areas of opportunity in this market.
The mass spectrometry market is expected to reach USD 5.27 Billion by 2022 from an estimated USD 3.68 Billion in 2017, at a CAGR of 7.4%.
The pharmaceutical application industry held the largest market share:
Based on application, the mass spectrometry market is further segmented into pharmaceutical application, biotech application, environmental testing, food and beverage testing, petrochemical applications, and other applications. In 2017, the pharmaceutical applications segment is expected to account for the largest share. Extensive use of mass spectrometry technologies at various stages of drug development processes and increase in R&D investments by pharmaceutical industries are driving the growth of the market.
Know More, Get PDF Brochure:
North America dominated the market in 2017
North America accounted for the largest share of the mass spectrometry market in 2016, followed by Europe. High usage of mass spectrometry in the pharmaceutical sector, growing funding to favour mass spectroometry market in the US, high petrol and natural gas production, growing biopharmaceuticals and biotechnology research & development and fundings for innovation based projects in Canada is expected to drive market during the forecast period.
Factors such as availability of funds for research, growing cosmetics industry in Germany, growing food safety concerns and increased investments for pharmaceuticals in the UK, favorable scenario of biotechnology and pharmaceutical industry in Italy, company’s expansion in France and strong food and beverage industry in Spain are driving factors of the European mass spectrometry market.
Major Market Developments
In 2017, Thermo Fisher Scientific launched the Cascadion SM Clinical Analyzer, the ISQ EC Single Quadrupole Mass Spectrometer, and Q Exactive HF-X Mass Spectrometer, to enhance its Liquid Chromatography Mass Spectrometry segment.
In 2017, Phytronix Technologies has agreed to make available its triple ion source, the Phytronix LDTD (Laser Diode Thermal Desorption Ion Source) to be coupled with Shimadzu’s LCMS- 8060 triple quadrupole mass spectrometer for rapid sample analysis.
In 2015, PerkinElmer collaborated with Albany Molecular Research (US), offering its screening capabilities, cellular imaging, and analytical instruments to AMRI for its drug discovery and translational research.
Mass spectrometry has wide applications in pesticide screening, soil contamination assessment, qualitative and quantitative identification of elements in environmental samples, and testing of drinking water. Mass spectrometry can also be used in pollution monitoring and trace elemental analysis of heavy metal leaching. The growing environmental pollution levels as well as the rising environmental awareness are the major factors driving the growth of this application segment.
Request Free Sample Pages: