Mass Spectrometer Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Mass Spectrometer Market

The mass spectrometer market size was valued at USD 5512.2 million in 2018, and the market is now projected tgrow USD 16904.4 million in 2032, exhibiting a CAGR of 8.4% during the forecast period of 2019-2032.

Due tCOVID -19, the mass spectrometer market alswitnessed supply chain interruption, manufacturing of mass spectrometers and slow market demand from sectors like pharmaceutical and researching during the pandemic time. Meanwhile, persistent development of public demand for rapid diagnostics, vaccines and extensive research intviral infections launched mass spectrometers as the most important equipment in the healthcare and life science industries. Telecommuting and remote support/service options were improved by many companies as the new norm. There is a gradual improvement in the market volume as laboratories and research institutions started toperate, with major concentration on biomedical and environmental sectors. Market for mass spectrometers, at first glance, seems thave had some setbacks but research is expected tincrease after the pandemic in the field of healthcare and environments.

Some recently launched products embody standalone mass spectrometry systems SCIEX’s Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS for diagnostics in clinical sciences and are anticipated tpropel the global mass spectrometry demand soon. Technological improvements in the resolution and throughput of instruments, as well as in the size of instruments and ancillary equipment, are alsdriving the market. These innovational changes will help research and government institutions ta greater extent. Hybrid mass spectrometer market was the largest in terms of market share in 2018 and has remained vital tthe market up tnow. These factors collectively will help in growth of the market throughout the forecast period.

Some of the trends that are presently involving the mass spectrometer market are the miniaturization of the equipment which has grown with the intention of applying the mass spectrometers in various fields. Highter demand for hybrid mass spectrometers, which integrate a range of currently available technologies, tboost accuracy and the rates of analyzed samples, is the main factor. Finally, rapid developments of handheld and ergonomic devices have increased the employment of mass spectrometers in field analysis. Coupling with artificial intelligence and data analysis is improving the accuracy and speed at which mass spectrometry is done. In addition, the rising utilization of mass spectrometers in clinical diagnosis and emergence of personalized medicine is stimulating the market evolution.

Comprehensive Analysis of Mass Spectrometer Market

The mass spectrometer market growth is rising at an exponential rate due tits market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by product, by end-user, and by geography. By product include hybrid, and single. By end-user include biopharmaceutical and pharmaceutical companies, research institutes & government organization, hospitals & diagnostic centers, and others (Environmental testing, food, and chemical testing). By geography include North America, Europe, Asia Pacific, and rest of world.

The North America region lead the mass spectrometer market share by benefitting a market size of USD 2126.7 million in 2018 due tincreasing demand for mass spectrometer analysis.

The top players have a significant responsibility in the healthcare industry for confirming industrial prospectus growth and determining the market trends. These players include, Shimadzu Corporation, Agilent Technology, WATERS, ThermFisher Scientific Inc., AB Sciex, PerkinElmer Inc., JEOL USA, Advion, Inc., LECO, and Bruker these market players provide a level-playing competitive landscape.

In June 2021, Waters Corporation launched the SELECT SERIES MRT, a high-resolution mass spectrometer featuring Multi Reflecting Time-of-Flight (MRT) technology with enhanced DESI and new MALDI imaging sources.

Segmentation Table

ATTRIBUTE DETAILS

By Product

Hybrid

Tandem Quadrupole

Quadrupole Time-of-Flight (Q-TOF)

FTMS

Single

Single Quadrupole

Time-of-Flight (TOF)

Ion Trap

By End-user

Biopharmaceutical and Pharmaceutical Companies

Research Institutes & Government Organization

Hospitals & Diagnostic Centers

Others (Environmental testing, food, and chemical testing)

By Geography

North America (the USA and Canada)

Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

Rest of World