Mass Spectrometry Market Size
Mass Spectrometry Market size was valued at USD 5.4 billion in 2022 and is anticipated to grow at a CAGR of 6.4% between 2023 and 2032. The field of mass spectrometry generates vast amounts of complex data that require sophisticated data analysis and interpretation techniques.
To get key market trends
Download Sample Ask for Discount Request Customization
The evolution of sophisticated software tools, algorithms, and data processing techniques has significantly enhanced the efficiency and precision of data analysis in mass spectrometry. These advances allow researchers to glean meaningful information from large data sets, determine compounds with more confidence, and simplify the analytical process. Ongoing advancements in data analysis functionality increase the value & utility of mass spectrometry, pushing its application in different industries and research areas.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Mass Spectrometry Market Size in 2022 | USD 5.4 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.4% |
| 2032 Value Projection | USD 9.8 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 277 |
| Segments covered | Technology, Application, End-user |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Download Sample Ask for Discount Request Customization
Continuous development in mass spectrometry instrumentation is driving the mass spectrometry market. Instrument manufacturers are continuously pushing the performance parameters like sensitivity, resolution, speed, and ease of use. Development of hybrid mass spectrometry systems, enhanced ionization methods, new mass analyzers, and better data analysis software has increased the potential of mass spectrometry and created new applications. Such technology developments appeal to researchers and industries seeking the latest analytical equipment.
Mass spectrometers can be costly, prices vary depending on the instrument type, specifications, and features. The initial investment to buy a mass spectrometer and operating expenses like maintenance, consumables, and expert training may lead to a financial burden, particularly for smaller research institutes or laboratories with limited budgets. Ownership and maintenance costs must be thoughtfully planned while implementing mass spectrometry technology.
COVID-19 Impact
The mass spectrometry market was majorly affected by the COVID-19 pandemic, which resulted in disrupting the supply chain on a global scale and slowing down industrial & infrastructure projects. The industry adapted by adopting virtual collaborations and focusing on laboratory safety protocols. Mass spectrometry played a pivotal role during the testing of COVID-19 and development of vaccines, thereby boosting demand for instruments and professionals. Even though there were setbacks, the pandemic brought new chances for mass spectrometry uses and underscored its significance in the study of infectious diseases.
Mass Spectrometry Market Trends
The combination of mass spectrometry with other technologies, including chromatography, spectroscopy, and imaging, is becoming increasingly popular. Using this combined technique, scientists can achieve multidimensional data and increase the structural & functional analysis of samples. For instance, combining mass spectrometry with Liquid Chromatography (LC-MS) or Gas Chromatography (GC-MS) delivers increased separation and identification capacities. The combination of mass spectrometry with other methodologies helps in a more complex & detailed analysis of complicated samples.
Mass Spectrometry Market Analysis
Learn more about the major segments driving this market
The hybrid mass spectrometry market commanded more than 60% revenue share in 2022. It provides higher sensitivity, selectivity, and quantification ability than other mass spectrometry technologies. It is extensively utilized in high-performance analysis applications such as pharmaceutical and biotechnology research. Triple quadrupole machines offer quantitative & accurate measurement of particular compounds in sophisticated samples and are hence applied in fields such as drug discovery, medical diagnosis, and environmental surveillance. Triple quadrupole machines are capable of conducting Multiple Reaction Monitoring (MRM) and thus allow the simultaneous monitoring of more than one analyte with high sensitivity and selectivity.
Discover more about the dominant segments influencing this market
Download Sample Ask for Discount Request Customization
Pharmaceutical business captured 22% of mass spectrometry market share during 2022. The pharma business is seeing increased focus on precision health and personalized medicine. Mass spectrometry helps in the quantitative analysis of defined biomarkers, drug compounds, and metabolites from patient samples to allow treatment in a targeted way. Mass spectrometry plays an integral role in discovering biomarkers, therapeutic drug monitoring, and pharmacogenomic studies that aid the development of precision medicine strategies.
Searching for region specific information?
North America had a leading mass spectrometry market position of approximately 35% in 2022 and is likely to achieve 5.5% CAGR up to 2032. North America has the presence of leading pharmaceutical & biotechnology firms, highly developed research facilities, and robust government support for research purposes that has led to market growth. Growing emphasis on personalized medicine and clinical diagnostics has also further driven the need for mass spectrometry technologies.
Mass Spectrometry Market Share
Major companies operating in the mass spectrometry market are
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Waters Corporation
- Bruker Corporation
- SCIEX (a division of Danaher Corporation)
- Shimadzu Corporation
- PerkinElmer, Inc.
- AB Sciex Pte. Ltd.
- JEOL Ltd.
- LECO Corporation
- Advion, Inc.
- Analytik Jena AG
- Rigaku Corporation
- Ionics Mass Spectrometry Group Inc.
- Hiden Analytical Ltd.
Mass Spectrometry Industry News
- In January 2023, Bruker Corporation collaborated with Biognosys AG, located in Switzerland, by acquiring a controlling stake to expand the Contract Research Organization (CRO) business.
This mass spectrometry market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
Market, By Technology
- Hybrid mass spectrometry
- Triple quadrupole (Tandem)
- Quadrupole TOF (Q-TOF)
- Fourier Transform Mass Spectrometry (FTMS)
- Single mass spectrometry
- Ion trap
- Quadrupole
- Time of Flight (TOF)
- Others
Market, By Application
- Life science research
- Drug discovery
- Environmental testing
- Food testing
- Applied industries
- Clinical diagnostics
- Others
Market, By End User
- Pharmaceutical
- Biotechnology
- Research & academics
- Environmental testing industry
- Food & beverage testing
- Forensic
- Petrochemical
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy