Mass Spectrometry Market by Offering (Consumables, Instruments, Software & Services), Technology (Fourier Transform-Mass Spectrometry, Gas Chromatography-Mass Spectrometry, Magnetic Sector Mass Spectrometry), End-user - Global Forecast 2024-2030

Mass Spectrometry Market by Offering (Consumables, Instruments, Software & Services), Technology (Fourier Transform-Mass Spectrometry, Gas Chromatography-Mass Spectrometry, Magnetic Sector Mass Spectrometry), End-user - Global Forecast 2024-2030

The Mass Spectrometry Market size was estimated at USD 5.64 billion in 2023 and expected to reach USD 6.06 billion in 2024, at a CAGR 7.87% to reach USD 9.58 billion by 2030.

Mass spectrometry (MS) is an analytical technique used to measure the mass-to-charge ratio of ions. It is instrumental in identifying the amount and type of chemicals present in a sample by generating spectra of the masses of the atoms or molecules present. This capability makes mass spectrometry invaluable in a wide range of applications, including pharmaceuticals, proteomics, food safety, and environmental analysis. Expanding drug discovery and development activities with the expansion of pharmaceutical and biotechnology companies is expanding the demand for mass spectrometry. There is a rising emphasis on quality control and assurance in various sectors, particularly in pharmaceuticals, food safety, and environmental testing. Regulations mandating strict quality and safety standards drive the adoption of mass spectrometry techniques. Governmental and non-governmental funding for research in pharmaceuticals, biotechnology, and environmental sectors necessitates robust analytical methods, propelling the demand for mass spectrometry. The high cost of mass spectrometry instruments, technical complexity, and skilled personnel requirements hampers the market growth. Innovations in mass spectrometry, such as increased automation, higher sensitivity, and faster throughput associated with mass spectrometry, create opportunities for market growth.

Regional Insights

The Americas represents a highly developing landscape for the mass spectrometry market due to a well-established pharmaceutical sector, significant investments in research and development (R&D), and a strong presence of leading mass spectrometry manufacturers. The region's emphasis on strict regulatory frameworks for drug development and food safety has also spurred the adoption of mass spectrometry technologies. Furthermore, the growing biotechnology industry and increased government funding for research in metabolomics and proteomics are significant factors contributing to the market's growth. Canada and Brazil also show promising market expansion, attributed to increased investments in environmental and agricultural research. The Asia-Pacific region is witnessing the fastest growth in the Mass Spectrometry market, driven by the expanding pharmaceuticals and biotechnology sectors in countries such as China, India, and Japan. Increased government initiatives towards pollution control and environmental testing, rising investments in healthcare infrastructure, and growing awareness about the importance of food safety are pivotal in driving the demand for mass spectrometry technologies. Additionally, the region's growing focus on research in proteomics and genomics, supported by investments in academic and research institutions, further bolsters market growth. Europe stands as a growing market for mass spectrometry, with a strong focus on innovation and R&D in countries such as Germany, the United Kingdom, and France. The presence of stringent regulations regarding drug development and food safety, coupled with the high adoption of cutting-edge technologies in research institutions and pharmaceutical companies, underpins the market growth. The Middle East and Africa (MEA) regions are gradually recognizing the importance of mass spectrometry in diagnostics, environmental testing, and petrochemical applications.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Mass Spectrometry Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising drug discovery and development activities worldwide
Increasing emphasis on quality control and assurance in the food industry

Market Restraints

High cost of mass spectrometry instruments

Market Opportunities

Continuous innovations in mass spectrometry solutions to broaden applications
High potential of mass spectrometry for environmental monitoring

Market Challenges

Technical complexity and skilled personnel requirements for the operation of mass spectrometry equipment

Market Segmentation Analysis

Offering: Growing usage of consumables in mass spectrometry for the operation of mass spectrometers
End-user: High potential of mass spectrometry across the food & beverage industry to ensure product safety and quality

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Mass Spectrometry Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Mass Spectrometry Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Establishing a Pioneering Mass Spectrometry Imaging Center in the Philippines through the Partnership Between Waters Corporation and the University of San Agustin

Waters Corporation has played a crucial role in the establishment of the first mass spectrometry imaging center in the Philippines at the University of San Agustin, marking a significant advancement in the country's drug discovery and therapeutic development efforts against cancer and infectious diseases. The formation of the MALDI/DESI Mass Spectrometry Imaging Laboratory within the university's Center for Chemical Biology and Biotechnology was made possible through a grant from the Department of Science and Technology-Philippine Council for Health Research and Development.

Waters Corporation’s Innovations in Mass Spectrometry

Waters Corporation has revolutionized the field of mass spectrometry with the introduction of the world's inaugural targeted imaging mass spectrometer, leveraging its class-leading Xevo TQ Absolute tandem quadrupole mass spectrometer. The integration of the DESI XS source with the Xevo TQ Absolute system marks a seminal advancement, achieving sensitivity and speed gains of fivefold over traditional discovery-based imaging techniques.

Thermo Fisher Scientific Launches the Orbitrap Astral Mass Spectrometer

Thermo Fisher Scientific introduces the Orbitrap Astral mass spectrometer, marking a pivotal advancement in mass spectrometry technology over the past 15 years. Mass spectrometer engineered to deliver unparalleled proteome coverage with exceptional sensitivity and rapid throughput, this state-of-the-art analyzer empowers researchers globally to detect proteins that were previously untraceable, facilitating unprecedented progress in scientific discoveries.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Mass Spectrometry Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Mass Spectrometry Market, highlighting leading vendors and their innovative profiles. These include 908 Devices Inc., Advion, Inc., Agilent Technologies, Inc., AMETEK Inc., Analytik Jena AG, Avantor, Inc., Bruker Corporation, Danaher Corporation, F. Hoffmann-La Roche AG, Hiden Analytical, Inc., Hitachi, Ltd., JEOL Ltd., Kore Technology Limited, LECO Corporation, Merck KGaA, MKS Instruments, Inc., PerkinElmer, Inc., Pfeiffer Vacuum GmbH, Process Insights AG, Shimadzu Corporation, Spectrum Chemical Mfg. Corp., Thermo Fisher Scientific Inc., VProteomics, and Waters Corporation.

Market Segmentation & Coverage

This research report categorizes the Mass Spectrometry Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
Consumables
Instruments
Software & Services
Technology
Fourier Transform-Mass Spectrometry
Gas Chromatography-Mass Spectrometry
Magnetic Sector Mass Spectrometry
Matrix Assisted Laser Desorption/Ionization
Quadrupole Mass Spectrometry
Time-of-Flight Mass Spectrometry
End-user
Environmental Testing
Food & Beverage
Petrochemical
Pharmaceutical & Biotechnology Companies
Research & Academic Institutions
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year