CRO Mass Spectroscopy Services Market Size By Service Type (Proteomics Services, Metabolomics Services), By End-use (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies), Industry Analysis Report, Regional Outlook, Application Potential

CRO Mass Spectroscopy Services Market Size By Service Type (Proteomics Services, Metabolomics Services), By End-use (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The CRO mass spectroscopy services market is expected to grow significantly by 2028 on account of technological advancements in spectrometers to deliver high-resolution results. In addition, rising concerns regarding food safety among consumers and increasing number of chronic diseases are likely to further boost industry expansion over the forecast period.

Following the coronavirus outbreak, the CRO mass spectroscopy services market has seen notable growth due to high demand for mass spectroscopy for testing applications in the pharmaceutical and biopharmaceutical sectors. Additionally, prominent collaborations for outsourcing contract research organization (CRO) mass spectroscopy to support research and development activities for rapid testing have played a vital role in business growth.

Moreover, key participants in the industry have been focusing on reducing their testing time and improving result accuracy to gain a better footing in the sector, thereby enhancing overall business dynamics. For instance, in June 2020, Alturas Analytics, Inc., a bioanalytical laboratory service provider, introduced low-flow LC-MS/MS to improve the operational functionality of bioanalytic laboratories. For this purpose, the company decided to include an OptiFlow ion source, intended for microflow of SCIEX Triple Quad 7500 LC-MS/MS systems, the QTRAP Ready, due to its greater sensitivity and dynamic variety.

In another instance, in April 2022, Charles River Laboratories (CRL), a leading pharma company, signed a USD 295 million deal with Explora Biolabs, a premier provider of contract vivarium research facilities, to boost its business in San Francisco and Boston. With this move, CRL intended to expand its Charles River Accelerator and Development Lab (CRADL) business.

The CRO mass spectroscopy services market has been bifurcated in terms of service type, end-use, and region. By service type, the market has been further categorized into proteomics services, metabolomics services, and others. The metabolomics services sub-segment is expected to generate about USD 316.2 million in revenue by 2028.

Based on end-use, the CRO mass spectroscopy services market has been segregated into medical device companies, pharmaceutical & biopharmaceutical companies, and others. In 2021, the medical device companies sub-segment held around 17.5% market share and is likely to observe strong growth between 2022 and 2028 due to the prevalent trend of collaborations among companies to facilitate technological advancements.

With respect to region, the Latin America CRO mass spectroscopy services industry accounted for approximately 4% of the global market in terms of revenue in 2021 and is slated to attain a sizable valuation by the end of 2028. Meanwhile, the Middle East & Africa CRO mass spectroscopy services market is anticipated to grow at a CAGR of over 13.9% through the study timeframe.