Global Mass Spectroscopy Market: Overview
The global mass spectroscopy market is poised to rake in a healthy share of the revenue pie with the robust growth of the healthcare sector worldwide. Mass spectroscopy is useful in tracing the distribution of various biomolecules directly from the tissue sample. In addition, it enables testing of multiple diseases and customization of screening programs according to a specific population. Other than healthcare, it finds applications in industries such as food and beverage, biotechnology, and pharmaceutical. Some of the technologies used in mass spectroscopy are matrix-assisted laser desorption/ionization (MALDI), gas and liquid chromatography combined with mass spectrometry, quadrupole mass spectroscopy, and time-of-flight mass spectrometry (TOFMS).
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The research report is an outcome of an in-depth analysis of the dynamics and competitive scenario of the global mass spectroscopy market. It sheds light on the trends influencing the market at both global and regional levels.
Global Mass Spectroscopy Market: Drivers and Restraints
Rapid technological advancements are boosting the scope of applications and subsequently the base of end users of mass spectroscopy, thereby augmenting the global market. Moreover, the rising concerns regarding the safety of food products and drugs as a result of growing incidences of related complications are stimulating the demand for analytical methods. This factor is, therefore, stoking the growth of the global mass spectroscopy market.
The increasing research and development activities in fields, including drug development, biomarkers, molecular biology, gene expression studies, and proteomics are also providing a significant momentum to the market. On the other hand, rapid technological advancements are trimming the life cycle of existing products, which is hindering the growth of the global mass spectroscopy market. Furthermore, the high price of devices is limiting the widespread adoption of mass spectroscopy. However, to maximize their revenue generation, market players are expected to tap the immense potential of emerging countries.
Global Mass Spectroscopy Market: Geographical Segmentation
The key regions analyzed in the report are Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America and Europe are anticipated to be major revenue contributors throughout the forecast period. The growth of these regions can be attributed to the presence of a large number of academic and research institutes and the growing investments by governments in the biomedical and biotechnology sectors. In North America, the U.S. will be at the forefront of growth, owing to the domicile of a raft of key participants.
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However, there is a gradual shift in focus of key players towards emerging countries, owing to their improving economic conditions. Asia Pacific is estimated to register a noteworthy CAGR during the same period. The growth of the region is largely supplemented by increasing funds allocated by governments for research activities and increasing investments by global players in the countries such as India and China. In Latin America, Brazil will be a sight of high growth rate due to the robust growth of end-user industries.
Global Mass Spectroscopy Market: Competitive Landscape
The degree of competition in the global mass spectroscopy market is anticipated to remain high throughout the forecast period. In order to differentiate their offerings, players are pouring sizeable funds into research and development of novel technologies. Mergers and alliances are looked upon as viable strategies by the majority of participants to expand their shares in the market. Some of the prominent companies operating in the global mass spectroscopy market are PerkinElmer, Dani Instruments S.P.A., Waters Corporation, Shimadzu Corporation, Thermo Fisher Scientific, Agilent Technologies, Kore Technologies Ltd., Danaher Corporation, Bruker Corporation, and Leco Corporation among others.
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