The Mass Spectrometry Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mass Spectrometry Global Market Report 2024, The mass spectrometry market size has grown strongly in recent years. It will grow from $6.11 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to regulatory compliance, increased research and development investments, increased pharmaceutical and biotechnology demand, environmental monitoring, clinical diagnostics have shaped historical growth..
The mass spectrometry market size is expected to see strong growth in the next few years. It will grow to $9.5 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing healthcare expenditure, expanding applications in food safety, emerging markets adoption, advancements in precision medicine, cross-industry collaborations .. Major trends in the forecast period include advances in ionization techniques, growing role in food and beverage testing, collaboration for multi-omics research, enhanced data accessibility and cloud-based solutions..
The increasing prevalence of chronic diseases is expected to propel the growth of the mass spectrometry market going forward. Chronic diseases refer to a condition that usually lasts for three months or longer and gets worse over time. Mass spectrometry techniques are used to identify, quantify, and analyze biomarkers and metabolites associated with chronic diseases. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Furthermore, in 2023, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Therefore, the increasing prevalence of chronic diseases is driving the growth of the mass spectrometry market.
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The mass spectrometry market covered in this report is segmented –
1) By Technology: Hybrid Mass Spectrometry, Single Mass Spectrometry, Inductively Coupled Plasma Mass Spectrometry (ICP-MS)
2) By Application: Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics, Other Applications
3) By End User: Pharmaceutical Industry, Biotechnology Industry, Research And Academic Institutes, Environmental Testing Industry, Food And Beverage Testing Industry, Petrochemical Industry, Other End Users
Product innovation is the key trend gaining popularity in the mass spectrometry market. Major companies involved in the mass spectrometry market are focused on developing innovative products with advanced features to strengthen their position in the market. For instance, in June 2022, Agilent Technologies Inc., a US-based company providing instruments, software, services, and laboratory consumables, launched LC/MS and GC/MS quadrupole mass spectrometers. The Agilent 6475 triple quadrupole LC/MS system is a sensitive, robust, and rugged mass spectrometer with a unique superheated Agilent Jet Stream (AJS) ion source, curved and tapered collision cell, ± 20 kV high-energy dynode detector system, and heated hyperbolic quadrupoles. The 6475 LC/TQ also features early maintenance feedback, intelligent secondary injection workflows, and scheduled tune and check-tune.
The mass spectrometry market report table of contents includes:
1. Executive Summary
2. Mass Spectrometry Market Characteristics
3.Mass Spectrometry Market Trends And Strategies
4.Mass Spectrometry Market Macro Economic Scenario
5.Mass Spectrometry Market Size And Growth
6.Mass Spectrometry Segmentation
7.Mass Spectrometry Regional And Country Analysis
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27.Mass Spectrometry Competitive Landscape And Company Profiles
28.Mass Spectrometry Key Mergers And Acquisitions
29.Mass Spectrometry Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Agilent Technologies Inc.
- Bruker Corporation
- JEOL Ltd.
- LECO Corporation
- PerkinElmer Inc.
- Shimadzu Corporation
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