Mass Spectrometry Market By Technology (Hybrid Mass Spectrometry, Single Mass Spectrometry, Others), By Application (Pharmaceutical, Biotechnology, Industrial Chemistry, Environmental Testing, Food and Beverage Testing, Forensic, Clinical, Other Applicati

Mass Spectrometry Market By Technology (Hybrid Mass Spectrometry, Single Mass Spectrometry, Others), By Application (Pharmaceutical, Biotechnology, Industrial Chemistry, Environmental Testing, Food and Beverage Testing, Forensic, Clinical, Other Applications): Global Opportunity Analysis and Industry Forecast, 2023-2032

The mass spectrometry market was valued for $6.9 billion in 2022 and is estimated to reach $14.6 billion by 2032, exhibiting a CAGR of 7.7% from 2023 to 2032. Mass spectrometry (MS) is an analytical method used to determine and identify quantity of a compound within a sample, and traces of components by measuring the mass-to-charge ratio of its charged particles. It allows scientists and researchers to comprehensively catalogue sophisticated samples in a single analysis. In this process, initially the sample is ionized by loss of an electron. Then the ions are categorized and divided on the basis of their charge and mass, which are measured by use of a computer. The mass spectrometry is used in various fields such as life science, forensics, petroleum industry, and others.

The mass spectrometry market growth is driven by increase in need for modern healthcare technology, rise in R&D activities, and surge in awareness about food safety standards and detection of adulterants. Technological advancement in the mass spectrometry results in improved instrument performance and efficiency. This has led to increase in demand for technologically advanced mass spectrometers. For instance, in June 2023, Bruker Corporation, a global biotechnology research company, launched its new timsTOF Ultra Mass Spectrometer. This instrument incorporates a Captive Spray Ionization (CSI) Ultra ion source with a larger capillary and optimized vortex gas flow. This instrument analyzes the ultra-low sample amounts and also used to study immunopeptidomics, phosphoproteomics, PTM analysis, and others. Thus, technological advancement in the mass spectrometry is the key factor that drives the market growth.

Furthermore, surge in adoption of mass spectrometers in the food and beverage industries also drives the market growth. Growing insistence on detection and identification of food adulterants has increased the demand for mass spectrometry to identify these adulterants at every low concentration. For instance, mass spectrometer can detect mycotoxins produced by molds, in grains and cereals. In addition, this instrument can be operated in laboratories, research institutes, as well as in the industrial settings. However, high cost of mass spectrometry instruments negatively impacts the market growth. High cost of mass spectrometers as well as ongoing maintenance and other expenses, increase the overall cost and limit their adoption in the market, especially in smaller clinics or laboratories with limited budgets.

On the other hand, development of miniaturized mass spectrometers, which can be portable and easily accessible are expected to present wide opportunity for the market growth during the forecast period. Miniaturized spectrometers can be employed in point-of-care diagnostics and on-site analysis in various fields.

The mass spectrometry market is segmented on the basis of technology, application, and region. On the basis of technology, the market is classified into hybrid mass spectrometry, single mass spectrometry, and others. The hybrid mass spectrometry segment is further categorized into triple quadrupole, quadrupole TOF, and FT-MS. The single mass spectrometry segment is further divided into ION trap, quadrupole, and time of flight. On the basis of application, the market is segmented into pharmaceutical, biotechnology, industrial chemistry, environmental testing, food and beverage testing, forensic, clinical, and others.

Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major key players that operate in the global mass spectrometry market are Thermo Fisher Scientific Inc., Agilent Technologies, Danaher Corporation, Waters Corporation, Bruker Corporation, Perkinelmer, Inc., Shimadzu Corporation, Kore Technologies, Ltd., Hiden Analytical, and Leco Corporation.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mass spectrometry market analysis from 2022 to 2032 to identify the prevailing mass spectrometry market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the mass spectrometry market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global mass spectrometry market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Technology

Hybrid Mass Spectrometry
Type
Triple Quadrupole (Tandem)
Quadrupole Tof (Q-TOF)
FT-MS◦ Type
Single Mass Spectrometry
Type
ION Trap
Quadrupole
Time of Flight
Others

By Application

Pharmaceutical
Biotechnology
Industrial Chemistry
Environmental Testing
Food and Beverage Testing
Forensic
Clinical
Other Applications

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

Thermo Fisher Scientific Inc. 
Bruker Corporation
Hiden Analytical Ltd.
PerkinElmer, Inc.
Waters Corporation
Leco Corporation
Agilent Technologies, Inc.
Danaher Corporation
Kore Technologies, Ltd.
Shimadzu Corporation

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