Northbrook, IL 60062 -- (SBWIRE) -- 07/13/2023 -- Mass Spectrometry Market in terms of revenue was estimated to be worth $4.7 billion in 2023 and is poised to reach $6.8 billion by 2028, growing at a CAGR of 7.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, growing focus on the quality of food products, increase in crude and shale gas production, and growing government initiatives for pollution control and environmental testing are high growth prospects for the mass spectrometry market during the forecast period.

The mass spectrometry industry is poised for rapid growth and innovation in the near future. Advancements in technology, including improvements in sensitivity, resolution, and speed, will enable researchers to analyze smaller sample sizes, detect lower concentrations of analytes, and obtain more accurate results. Mass spectrometry will find expanded applications in various industries, such as pharmaceuticals, environmental analysis, clinical diagnostics, and food safety. Additionally, the field will witness increased accessibility, as user-friendly interfaces and simplified data analysis tools make mass spectrometry systems available to a wider range of users. The integration of mass spectrometry with other analytical techniques and the utilization of artificial intelligence for data analysis will further enhance its capabilities. Overall, mass spectrometry will play a crucial role in advancing scientific understanding, personalized medicine, and addressing complex analytical challenges in the coming years.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=437

Browse in-depth TOC on "Mass Spectrometry Market"

122 - Tables
30 - Figures
188 - Pages

Instruments segment to register significant growth rate over the forecast period of 2023-2028

Based on the product, the mass spectrometry is segmented into instrument and software & services. Instruments segment to register significant growth rate over the forecast period of 2023-2028. Advantages offered by instruments, such as rapid and high-resolution testing abilities with more accurate and precise results, are increasing its adoption. Consequently, the demand for mass spectrometry devices for high throughput screening is also growing. The instrument segment is further divided into hybrid mass spectrometry, single mass
spectrometry and other technologies.

LC-MS segment accounted for the largest share of the mass spectrometry in 2023-2028

Based on sample preparation technique, the mass spectrometry is segmented into GC-MS, LC-MS, ICP-MS, and others. The LC-MS segment is estimated to hold the largest market share of the mass spectrometry market during the forecast period. The large share of this segment can be attributed to its ability to identify and measure a broader range of compounds with minimal sample preparation. LC-MS can identify a broader range of compounds. LC-MS is applied in many industries such as pharmaceuticals, biopharmaceuticals, forensic, industrial, food and environmental sector. For clinical research, the analysis of drugs, vitamins and minerals in whole blood, plasma, serum and urine is conducted routinely using LCMS. It is a more sensitive instrument.

OMICS research segment accounted for the largest share of the mass spectrometry in 2023-2028

Based on application, the mass spectrometry is segmented into OMICS research, drug discovery, environmental testing, food testing, pharma-biopharma manufacturing, clinical diagnostics, applied industries, and other applications. The OMICS research segment is estimated to hold the largest market share of the mass spectrometry market during the forecast period. The large share of this segment can be attributed to the increasing application of omics technology in diagnostics & biomarker identification and the increasing R&D expenditure and government funding for proteomics are expected to drive the market for this segment.

Pharmaceutical companies' segment to register for the highest growth rate of the mass spectrometry in 2023-2028
The major end users in the mass spectrometry market are pharmaceutical companies, biotechnology companies, research labs & academic institutes, environmental testing labs, F&B industry, forensic labs, petrochemical industry and other end users. Pharmaceutical companies are expected to dominate the market during the forecast period. The availability of government and corporate funding for pharmaceutical research, growth of the pharmaceutical industry, and the presence of stringent regulatory guidelines for drug development and safety are some of the key factors driving the growth of this segment during the forecast period.

Asia Pacific to register a significant growth in the market during the forecast period

In 2023, Asia Pacific is expected to register a significant growth in the market during the forecast period. Asia Pacific comprises the China, Japan, India, South Korea, Australia, ASEAN Region, rest of APAC. Factors such as the significant funding for mass spectrometry and environmental monitoring regulations are driving the growth of the Asia Pacific mass spectrometry market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=437

Mass Spectrometry Market Dynamics:

Drivers:

1. Increasing R&D investments in the pharmaceutical and biotechnology industry

Restraints:

1. Premium Product Pricing

Opportunities:

1. Growth opportunities in emerging countries

Challenges:

1. Dearth of Skilled Professionals

Key Market Players:

The mass spectrometry business is very competitive, with both established companies and newcomers competing for the same market share. As of 2022, the key players operating in the global mass spectrometry market are SCIEX AB (US), Thermo Fisher Scientific (US), Agilent Technologies (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan) and Bruker Corporation (US) among others.

Report Link: Mass Spectrometry Market

Recent Developments:

- In January 2022, Thermo Fisher and Symphogen extended their collaborative partnership with aim to deliver workflows for simplified characterization and quality monitoring of complex therapeutic proteins using the Thermo Scientific Q Exactive Plus Orbitrap LC-MS/MS system.

- In February 2023, SCIEX announced collaboration with HighRes Biosolutions to bring customizable automation solutions powered by Cellario software, which would add automation benefits to the Echo MS system.

- In February 2022, Waters Corporation acquired Charge Detection Mass Spectrometry technology assets and intellectual property rights of Megadalton Solutions, Inc., to broaden its application in Cell and Gene Therapy.

- In September 2022, Agilent Technologies partnered with MOBILion Systems for ion mobility separation technology called Structures for Lossless Ion Manipulation (SLIM) on its Q-TOF mass spectrometers.

Mass Spectrometry Market Advantages:

- High Sensitivity: Mass spectrometry is known for its exceptional sensitivity, enabling the detection and quantification of trace amounts of analytes in complex samples. It can identify and quantify molecules at extremely low concentrations, making it invaluable in fields such as environmental analysis, clinical diagnostics, and drug discovery.

- Structural Characterization: Mass spectrometry provides detailed structural information about molecules, allowing researchers to determine their composition, fragmentation patterns, and molecular weight. This capability is essential in the identification and characterization of unknown compounds, the elucidation of molecular structures, and the study of complex biological systems.

- Versatility and Range of Applications: Mass spectrometry has a broad range of applications across various industries and scientific disciplines. It is utilized in pharmaceutical analysis, proteomics, metabolomics, environmental monitoring, forensic analysis, food safety, and many other fields. Its versatility stems from the ability to analyze diverse analytes, including small molecules, proteins, peptides, lipids, and complex mixtures.

- Quantitative Analysis: Mass spectrometry enables quantitative analysis by measuring the abundance of analytes in a sample. It can be used for accurate determination of drug concentrations in biological samples, monitoring the levels of pollutants in environmental samples, and assessing metabolic changes in biological systems. The quantitative capabilities of mass spectrometry are vital for research, quality control, and clinical applications.

- High Selectivity: Mass spectrometry offers high selectivity, allowing for the precise identification and differentiation of analytes even in complex matrices. By measuring the unique mass-to-charge ratio of ions, mass spectrometry can distinguish between closely related compounds, isotopes, and different chemical species. This selectivity is particularly valuable in the analysis of complex samples with potential interferences.

- Rapid and High-Throughput Analysis: Recent advancements in mass spectrometry technology have enabled rapid data acquisition and high-throughput analysis. Mass spectrometers equipped with advanced hardware and software can quickly analyze large sample sets, providing fast and reliable results. This capability is essential for applications that require high sample throughput, such as clinical diagnostics and drug discovery.

- Advancements in Data Analysis: Mass spectrometry generates large volumes of complex data, and advancements in data analysis tools and algorithms have made it easier to process and interpret this information. Techniques such as machine learning and artificial intelligence are being applied to mass spectrometry data, enabling automated data processing, pattern recognition, and faster identification of analytes.