Global Mass Spectrometer Market – Snapshot
According to a new market report published by Transparency Market Research titled “Mass Spectrometer Market–Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027,” the global mass spectrometer market is projected to expand at a CAGR of above 8% during the forecast period 2019 – 2027. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors.
Growth in pharmaceutical and life science markets, rise in demand for clinical analysis, increase in mergers and acquisitions, and increase in food and beverage testing has influenced the penetration and growth of the mass spectrometer market globally.
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MALDI-TOF Segment to Remain Most Lucrative
MALDI-TOF is expected to continue to be the leading segment globally during the forecast period due to growing use of MALDI-TOF spectrometers for various applications in clinical diagnostics, environmental and taxonomical research, and food processing and quality control. MALDI-TOF segment is projected to expand at a considerable CAGR of 8.0% over the forecast period 2018 to 2026.The application of mass spectrometry in biological science has progressed over the last decade. With the help of FIB system cells, biomaterials and their interfaces can be analyzed, imaged, or prepared for various techniques such as fault-tolerant operation, ensuring high reliability for closed-loop control in harsh industrial environments.
Liquid chromatography-MS segment is projected to expand at the highest CAGR over the forecast period due to the growing adoption of high performance liquid chromatography in order to separate, identify, and quantify each component in a mixture during the production process of pharmaceutical and biological products.
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North America to Continue to Hold Significant Share in the Overall Market
North America accounted for highest revenue share in 2017 due to concentration of leading manufacturers, high usage of mass spectrometry in the pharmaceutical sector, and growing funding to favor the mass spectrometry market. In North America, market players are continuously taking efforts to introduce advanced mass spectrometer products. In 2019, Bruker, a mass spectrometer manufacturer announced a novel mass spectrometermeter in American Society for Mass Spectrometry Conference (ASMS) of 2019, named “timsTOF flex”.
Furthermore, growing laboratory automation is helping the North America market to generate significant revenue. The market in the U.S. held the highest share in 2017 in North America and is estimated to expand at a considerable CAGR during the forecast period. The market in North America is expected to expand at a significant CAGR of above 8% during the forecast period. In a number of European countries, high penetration of mass spectrometers in industrial and non-industrial research sectors and technological advancements are fueling the growth of the mass spectrometer market. The market in Europe is likely to witness significant CAGR growth over the forecast period. The U.K. contributed highest share to the Europe mass spectrometer market in 2017. Growing food safety concerns and increased investments for pharmaceuticals has escalated the growth of the mass spectrometer market in the U.K.
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Demand for mass spectrometers in APAC is likely to remain concentrated in China and Japan due to the high petrol and natural gas production and growing biopharmaceuticals and biotechnology research & development. The market in Japan is estimated to expand at a significant CAGR during the forecast period due to the growth in pharmaceutical industry and growing adoption of advanced technologies. In Middle East &Africa (MEA), market players are increasing their investments to expand their physical presence. GCC countries are expected to expand at a significant CAGR during the forecast period due to the development of biotechnology industry in the region. In South America, Brazil is expected to hold a significant portion of revenue for the market throughout the forecast period.
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