Global Mass Spectrometry Market Size & CAGR (2021 & CAGR)
The size of the worldwide mass spectrometry market is estimated to be growing at a CAGR of 7.23% from 2021 to 2026 and worth USD 7.45 billion by 2026.
Impact of COVID-19 on the global mass spectrometry market:
COVID-19’s unexpected breakout has had a significant influence on the global mass spectrometry market. In 2020, the market was likely to have a wide range of adoption. One of the most powerful technologies for analyzing chemical and biological substances is mass spectrometry. The global market for mass spectrometry is being driven by the increased demand for COVID-19 from the biotechnology and pharmaceutical industries. Mass spectrometry is being used to meet government standards and the rising demand for quality maintenance in various industries. However, problems in the petrochemical industry’s supply chain and regulatory leniency in pollution monitoring are projected to restrict mass spectrometer usage. On the other hand, the business is currently working on COVID-19 vaccine development and separation using chromatography and mass spectrometry technologies. The characterization of vaccination candidates is done using the Mass Spectrometry method.
Browse TOC and the other details of the global mass spectrometry market research report that spread through 190 pages @ https://www.marketdataforecast.com/market-reports/mass-spectrometry-market
KEY DRIVING FACTORS:
Increasing funding for R&D is one of the significant factors promoting the global mass spectrometry market’s growth rate.
The mass spectrometry market is predicted to rise due to increased financing in the pharmaceutical and biotechnology industries. Pharmaceutical businesses have expanded their R&D spending dramatically in the previous two decades. From drug discovery to late-stage research and clinical trials, mass spectrometry is critical in the pharmaceutical business. As a result, market growth is likely fuelled by increased financing in the pharmaceutical and biotechnology industries.
Technological advancements in mass spectroscopy are anticipated to boost the market’s growth rate.
Rapid test results with excellent resolution have been made possible because of developments in mass spectroscopy technology. In addition, the development of novel techniques can expand mass spectroscopy’s application in a range of fields, including drug development, pharmaceuticals, food safety testing, proteomics, and others.
RESTRAINING FACTORS:
High product pricing and a scarcity of qualified personnel are expected to hamper the market’s growth rate during the forecast period.
The cost of a spectrometer has an impact on end customers’ purchasing decisions. Pharmaceutical businesses require a large number of these systems, which raises the capital cost dramatically. The market’s expansion is projected to be hampered by a scarcity of skilled operators. The capital investment required for installing and maintaining these devices is projected to limit the worldwide market growth. Small diagnostic clinics and laboratories, particularly in emerging nations, cannot afford mass spectrometers. As a result, premium product pricing and a scarcity of experienced specialists to operate these devices impede market expansion.
Avail free sample brochure of the report to evaluate the usefulness, ask a copy @ https://www.marketdataforecast.com/market-reports/mass-spectrometry-market/request-sample
KEY MARKET INSIGHTS:
- Based on the technology, the demand for mass spectrometers has increased over time due to technological improvements and better operational efficiencies. Technological advancements, on the other hand, have raised system prices. The cost of a spectrometer has an impact on end customers’ purchasing decisions. Pharmaceutical businesses require a large number of these systems, which raises the capital cost dramatically. In addition, the quick distribution of high-resolution test findings is due to innovations in the mass spectroscopy method.
- Based on the application, the pharmaceutical analysis application category dominated the market in 2020 and is predicted to grow at the quickest rate throughout the forecast period. A sequence of methods for determining, identifying, purifying, and quantifying a drug, determining the structure of chemical compounds, or separating a solution or combination components make up pharmaceutical analysis.
- Based on the region, North America dominated the global market in 2020, accounting for the most significant percentage of total sales. This is due to the presence of many critical actors on the ground, including Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, and others. Furthermore, several organizations in this region work to produce and share awareness about new advanced spectrometry goods and technology. The region’s significant stake is also responsible for an increase in R&D activities by key players for emerging diseases.
- The market for mass spectrometry is fiercely competitive. The leading mass spectrometer manufacturers have a diverse product line and a global footprint. Thermo Fisher Scientific (US), Hiden Analytical (UK), Waters Corporation (US), PerkinElmer (US), SCIEX (US), Agilent Technologies (US), Rigaku (Japan), DANI Instruments (Italy), LECO (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), are among the major players in the global mass spectrometry market.
The report can be customized as per requirements; talk to our analyst team @ https://www.marketdataforecast.com/market-reports/mass-spectrometry-market/customization
RECENT MARKET DEVELOPMENTS:
- Shimadzu increased its operations by opening a branch office in Copenhagen, Denmark, in 2020. This expansion aims to provide the region with the entire spectrum of analytical instrumentation solutions.
- Thermo Fisher announced the Neoma multi-collector ICP-MS, an Inductively Coupled Plasma MS (ICP-MS) apparatus, in December 2020. This device should aid researchers in doing reliable and highly accurate isotope ratio analyses for various research purposes.
- HighChem, a provider of mass spectrometry software, was bought by ThermoFisher in March 2019, contributing to the company’s current mass spectrometry software portfolio.
SEGMENTS COVERED IN THIS REPORT:
By Technology:
- Hybrid mass Spectrometry
- Triple Quadrupole (Tandem)
- Quadrupole TOF (Q-TOF)
- FTMS (Fourier Transform Mass Spectrometry)
- Single Mass Spectrometry
- Ion Trap
- Quadrupole
- Time-Of-Flight (TOF)
- Other Mass Spectrometry
By Application:
- Pharmaceutical Applications
- Biotech Applications
- Petrochemical Applications
- Environmental Testing
- Food & Beverage Testing
- Other Applications
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
BROWSE REGIONAL REPORTS:
- The United States Mass Spectrometry Market
- Europe Mass Spectrometry Market
- APAC Mass Spectrometry Market
- Latin America Mass Spectrometry Market
- MEA Mass Spectrometry Market
About MarketDataForecast:
Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.
Contact Us:
Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com