- Key segments of the mass spectrometry market, which will help manufacturers and service providers review the growth in demand.
- The report will help key players understand the strategies of their competitors better and make more pivotal strategic decisions.
- The report provides insights about emerging geographies for mass spectrometer sales, and hence, the entire market ecosystem can gain a competitive advantage.
Key Factors Impacing The Development of Mass Spectrometry Market:
- Technological advancements in mass spectrometers
- Government initiatives for pollution control and environmental testing
- Increasing spending on pharmaceutical R&D
- Increase in crude and shale gas production
- Premium product pricing
Expected Revenue Growth:
The Mass Spectrometry Market size is expected to grow from an estimated USD 4.1 billion in 2020 to USD 5.6 billion by 2025, at a CAGR of 6.5%.
A few major players that have an extensive geographic presence dominate the mass spectrometry industry globally. The leading players in the mass spectrometry market include Thermo Fisher Scientific (US), SCIEX (US) Agilent Technologies (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (OTCPK:ITALY), LECO (US), and Hiden Analytical (UK).
In 2019, Thermo Fisher was the largest player in the mass spectrometry market. Thermo Fisher Scientific offers a complete and integrated portfolio of solutions and services for laboratory research & analysis, healthcare & clinical science, manufacturing, and other fields. The company operates through four segments—Analytical Instruments, Life Sciences Solutions, Specialty Diagnostics, and Laboratory Products & Services. The Analytical Instruments segment offers products for elemental analysis, chromatography & mass spectrometry, and chemical analysis. These instruments are used in the pharmaceutical, biotechnological, academic, governmental, and environmental sectors. The company operates worldwide and serves more than 400,000 customers. The company provides pharmaceutical services through its industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, and Patheo.
In 2019, SCIEX, a US-based scientific instrumentation provider, was the second-largest player in the mass spectrometry market. It develops and produces scientific instrumentation, software, and services for the life sciences, clinical research, and industrial markets.
Pharmaceutical industries are among the key end-users of mass spectrometers. the Tvailability 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.
The life science research segment dominated the market in 2019. 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.
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