Mass Spectrometry Market Size to Witness Sustained Growth throughout the Forecast Period

Mass spectrometry is a powerful analytical technique in the field of life sciences. The technique is used to identify unknown compounds and components in a given sample and quantify known compounds, by using electrons. Mass spectrometry employs charged electrons which, after entering the given sample, convert the contents of the sample into positive ions. These ions are then separated based on their molecular mass. These positive ions can be manipulated using an external electric charge or magnetic field. The mass-to-charge ratio of different components of a simple or complex sample is measured to identify and quantify components of the sample. The three basic principles of mass spectrometry are: measuring relative molecular masses of compounds, understanding fragmentation of molecules, and comparing the mass-to-charge ratios of various compounds, in order to identify unknown compounds in the given sample.

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Increasing usage of the mass spectrometry technique, especially in the life sciences industry including pharmaceutical manufacturing, biotechnology, and other disciplines; rising demand for new and advanced instruments and equipment from end-users across the world; increasing focus on research and development in the health care industry leading to rise in investments in R&D by major market players and regional governments; and growing number of contract research organizations (CROs) are some of the factors driving the demand for new and advanced mass spectrometers. This, in turn, is expected to augment the global mass spectrometry market from 2017 to 2025. However, high cost of the technique and increase in the number of substitute analytical tools for life science applications, wherein growing number of innovative products are being offered by market players, are some of the major factors restraining the global mass spectrometry market.

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The global mass spectrometry market can be segmented based on instrument, technology, application, end-user, and geography. Based on instrument, the market has been segmented into ion source, mass analyzers, and detector systems. The mass analyzers segment can be sub-segmented into quadrupole mass analyzers, magnetic mass analyzers (single-focusing, double-focusing), time of flight (ToF) analyzers, and others. Based on technology, the global mass spectrometry market has been segmented into gas chromatography-mass spectrometry (GC-MS), liquid chromatography-mass spectrometry (LC-MS), quadrupole-time of flight liquid chromatography-mass spectrometry, inductively coupled plasma mass spectrometry, matrix-assisted laser desorption / ionization-time of flight spectrometry, and others. Among these, the matrix-assisted laser desorption / ionization-time of flight spectrometry segment is expected to register a higher CAGR from 2017 to 2025, owing to advancements in the technique, leading to its growing adoption in the life sciences sector. Based on application, the global market has been segmented into clinical research, drug discovery & testing, metabolomics, forensic toxicology, proteomics, biopharmaceutical, and others. Based on end-user, the global mass spectrometry market has been segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations (CROs), and others. Among end-users, the pharmaceutical & biotechnology companies segment is expected to dominate the global mass spectrometry market by the end of 2017, due to growing focus on R&D and increasing adoption of analytical tools for specific applications including toxicology and contamination profiling.

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Based on geography, the global mass spectrometry market has been segmented into five key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global mass spectrometry market from 2017 to 2025. Increasing research and development activities, rising investment in R&D, and growing adoption of advanced products in the region are factors driving the mass spectrometry market in North America. The market in Asia Pacific is expected to register a comparatively high CAGR from 2017 to 2025, owing to increasing number of contract research organizations and growing initiatives for pharmaceutical R&D by governments in the region.

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Key players operating in the global mass spectrometry market are Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., Danaher Corporation, Bruker Corporation, Agilent Technologies, and bioMerieux SA.

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