Spectroscopy deals with the study of the interaction between electromagnetic radiation and matter. It is widely used in analytical chemistry in order to identify the contents in a test sample taking help of the interaction between energy and mass. Spectroscopy has been broadly classified on the basis of the method of analyzing the test sample into molecular spectrometry, mass spectrometry, and atomic spectrometry. Among these types, the mass spectroscopy segment is the most used technique to determine the chemical contents in a sample.
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In the last few years, the increasing research and development activities in proteomics, molecular biology, gene expression studies, drug development, and biomarkers have boosted the demand for mass spectroscopy. Thus, several mass spectroscopy device manufacturers are focusing on developing the technology.
The technological advancements in this field are also driving the global market for mass spectroscopy. In addition, these developments have also increased the applications of mass spectroscopy in the last few years. As a result, the customer base has increased tremendously for the global mass spectroscopy market. Some of the major customers in the healthcare sector include research institutions, diagnostic and forensic laboratories, and pharmaceutical companies.
The global market for mass spectroscopy has been divided on the basis geography into North America, Asia Pacific, Europe, and Rest of the World. At present, Europe and North America collectively dominated the market, holding a share of 50% in the global market for mass spectroscopy. The rapid growth of these two regions can be attributed to a large number of research and academic institutes. On the other hand, Asia Pacific exhibits immense growth potential owing to the growing research expenses and developing economic conditions. However, the high costs of devices are estimated to hamper the market penetration in several middle-income economies.
Furthermore, the research study talks about the competitive scenario of the global market for mass spectroscopy and provides an in-depth analysis of the major players in the market. Some of the prominent players operating in the market are Bruker Corporation, Danaher Corporation, Kore Technologies, Ltd., Waters Corporation, Leco Corporation, Dani Instruments S.P.A., Perkinelmer, Inc., Agilent Technologies, Inc., Shimadzu Corporation., and Thermo Fisher Scientific, Inc. The SWOT analysis of these players has been included in the research study to help the new players entering the market in formulating their policies and strategies in an effective manner.
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