This report studies the mass spectrometry market based on product, application, end-user, and region.
The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders.
Furthermore, the report analyzes micro markets concerning their growth trends and forecasts the revenue of the market segments for four main regions and respective countries.
The mass spectrometry market is projected to reach USD 6,313.7 million by 2024 from USD 4,569.1 million in 2019, at a CAGR 6.7%.
The growth in this market is driven by technological advancements in mass spectrometers, government initiatives for pollution control and environmental testing, increasing spending on pharmaceutical R&D, government regulations on drug safety, growing focus on the quality of food products, and increase in crude and shale gas production.
In addition, emerging markets are expected to offer growth opportunities for players operating in the mass spectrometry market during the forecast period. However, the high cost of mass spectrometry systems and a dearth of skilled professionals are expected to limit market growth to a certain extent in the coming years.
Prominent players in this market include Thermo Fisher Scientific, SCIEX, Agilent Technologies, Waters Corporation, and Shimadzu. These players adopted strategies such as product launches, upgrades, and approvals; acquisitions; partnerships, agreements, and collaborations; and expansions to increase their shares in the mass spectrometry market. These strategies also enable market players to strengthen their product portfolios and geographical presence.
Key Highlights
The mass spectrometry market is projected to grow at a CAGR of 6.7% during the forecast period
The hybrid mass spectrometry segment is projected to dominate the mass spectrometry products market during the forecast period
The pharmaceutical & biotechnology applications segment held the largest market share in 2018
The North American mass spectrometry market is expected to hold the largest market during the forecast period
Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Market Overview 4.2 Europe: Market, By Platform & Country (2019) 4.3 Market Share, By Platform, 2019 vs 2024 4.5 Market: Geographic Growth Opportunities
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Technological Advancements in Mass Spectrometers 5.2.1.2 Government Initiatives for Pollution Control and Environmental Testing 5.2.1.3 Increasing Spending on Pharmaceutical R&D 5.2.1.4 Government Regulations on Drug Safety 5.2.1.5 Growing Focus on the Quality of Food Products 5.2.1.6 Increase in Crude and Shale Gas Production 5.2.2 Restraints 5.2.2.1 High Cost of Mass Spectrometry Systems 5.2.3 Opportunities 5.2.3.1 Growing Opportunities in Emerging Markets 5.2.4 Challenges 5.2.4.1 Dearth of Skilled Professionals
6 Market, By Platform 6.1 Introduction 6.2 Hybrid Mass Spectrometry 6.2.1 Triple Quadrupole 6.2.1.1 Triple Quadrupole Mass Spectrometry Segment Dominates the Hybrid Mass Spectrometry Market 6.2.2 Quadrupole TOF (Q-TOF) 6.2.2.1 Growing Use of Q-TOF in Metabolomics Research & Drug Development in the Pharmaceutical Industry to Drive Market Growth 6.2.3 Fourier Transform Mass Spectrometry (FTMS) 6.2.3.1 FTMS Enables the High-Resolution Analysis of Biomolecules 6.3 Single Mass Spectrometry 6.3.1 Quadrupole 6.3.1.1 Quadrupole Spectrometry is Useful When Studying Particular Ions of Interest 6.3.2 Time-Of-Flight (TOF) 6.3.2.1 TOF is Rapidly Becoming the Most Popular Method of Mass Separation for Proteomics and Conventional Analytical Chemistry 6.3.3 Ion Trap 6.3.3.1 Ion Trap Spectrometry Offers High Sensitivity, Robustness, and Rapid Identification of Low-Level Components in Complex Matrices 6.4 Other Platforms
7 Market, By Application 7.1 Introduction 7.2 Pharmaceutical & Biotechnology 7.2.1 Pharmaceutical & Biotechnology Forms the Largest Application Segment of the Market 7.3 Environmental Testing 7.3.1 Growing Pollution Levels & Rising Environmental Awareness to Drive the Growth of This Application Segment 7.4 Food & Beverage Testing 7.4.1 Growing Food Safety Concerns to Support Market Growth 7.5 Petrochemicals 7.5.1 Growing Number of New Oil & Gas Fields - Major Driver for This Application Segment 7.6 Other Applications
8 Market, By Region 8.1 Introduction 8.2 North America 8.2.1 US 8.2.1.1 The US Holds the Largest Share of the North American Market 8.2.2 Canada 8.2.2.1 Funding for Innovation-Based Research Will Propel the Market in Canada 8.3 Europe 8.3.1 Germany 8.3.1.1 Growth of the German Cosmetics Industry Will Aid the Growth of Its Market 8.3.2 UK 8.3.2.1 Rising Food Safety Concerns to Drive Market Growth in the UK 8.3.3 France 8.3.3.1 Strong Perfume Industry and the Growing Number of Pharma Startups Will Drive the Demand for Mass Spectrometry 8.3.4 Italy 8.3.4.1 Italy Showcases A Favorable Scenario for the Biotech and Pharma Industry 8.3.5 Spain 8.3.5.1 Spain's Strong Food & Beverage Industry Will Aid the Adoption of Mass Spectrometers 8.3.6 Rest of Europe 8.4 Asia Pacific 8.4.1 China 8.4.1.1 Rising Player Attention on China Will Ensure Market Growth in the Coming Years 8.4.2 Japan 8.4.2.1 Availability of Funding for Mass Spectrometry Projects and Growing Food Safety Concerns are Driving Market Growth 8.4.3 India 8.4.3.1 Stringent Environmental Monitoring Regulations in India to Boost the Use of Mass Spectrometry 8.4.4 Southeast Asia 8.4.4.1 Expanding Footprint of Market Leaders in Malaysia and Singapore Will Aid Market Growth in Southeast Asia 8.4.5 Rest of Asia Pacific 8.5 Rest of the World 8.5.1 Latin America 8.5.1.1 Growing Biotechnology and Pharmaceutical Industries to Support Market Growth in Latin America 8.5.2 Middle East & Africa 8.5.2.1 Strong Oil & Gas Industry and Rising Awareness on Food Safety have Drawn Company Focus to the Mea
