Mass Spectrometer Market
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PUBLISHED: 2022 ID: SMRC21800
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Mass Spectrometer Market Forecasts to 2028 – Global Analysis By Product (Gas Chromatography Mass Spectrometer (GC-MS), Inductively Coupled Plasma Mass Spectrometer (ICP-MS)), Platform (Hybrid Mass Spectrometry, Single Mass Spectrometry) and By Geography

4.0 (33 reviews)
4.0 (33 reviews)
Published: 2022 ID: SMRC21800

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $4.82 BN

Projected Year Value (2028)

US $7.87BN

CAGR (2022 - 2028)

8.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Mass Spectrometer Market is accounted for $4.82 billion in 2022 and is expected to reach $7.87 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Mass spectrometry is a technique which is used in the recognition of various types of chemical present in the sample. It is also used in the quantification of quantity of specific chemical in the sample. It identifies and quantities crucial proteins involved in disease and transformed phenotypes and standard diagnostic biomarkers for treatment. It is very common technique in systematic laboratories which helps in the study of biological and chemical properties of compounds. In life science area, mass spectrometry is primarily involved in the description and sequencing of proteins.  



Market Dynamics:

Driver:

Growing investments and government initiatives in the industry

The increased investment in the pharmaceutical and biotechnology industries is one of the factors driving the market growth. The pharmaceutical and biotechnology industries will be driven by investments in critical areas such as the pharmaceutical and personalized medicine markets. Mass spectrometry is vital in the pharmaceutical industry, from drug discovery to late-stage development and clinical trials. As a result, the market is predictable to profit from increased funding from the pharmaceutical and biotechnology industries.

Restraint:

High cost

Due to innovative features and functionalities spectrometry instruments are equipped with priced at a premium. Apart from the system’s cost, the cost of compliance of the system to industry standards is also very high. Owing to technological advancements and increased operational efficiencies, the demand for mass spectrometers has grown over the years. However, technological developments have increased system prices. The price of a spectrometer influences the purchase decision of end users. Pharmaceutical companies require many such systems, and hence, the capital cost increases significantly. Furthermore, academic research laboratories find it difficult to afford such systems, as they have controlled budgets. These are the major factors limiting the adoption of mass spectrometry systems among end users.

Opportunity:

Possibilities for development in developing markets

Because of the Greenfield enterprises being installed in several end-user industries in those international locations, China and India knowingly demand single mass spectrometers and hybrid spectrometry devices. These international sites' biopharmaceutical companies are powerful, and they must be contributing significantly to the growth of the markets.

Threat:

Expensive product affordability

Machine prices have increased owing to technological advancements. The rate of a spectrometer influences the acquisition selection of quit users. Pharmaceutical companies will require numerous of these structures, raising the capital cost significantly. Moreover, educational research laboratories find it difficult to raise funds for such structures owing to tight budgets. These are the major factors limiting the growth of the market.

The Pharmaceutical segment is expected to be the largest during the forecast period

The Pharmaceutical segment is expected to be the largest during the forecast period, owing to rising investments in improving the sensitivity and resolution of these instruments is a key factor driving revenue growth of this segment. Mass spectrometry is a powerful analytical tool that serves several applications in pharmaceutical and biomedical fields. Besides, it has opened new dimensions in the analysis of pharmaceuticals and complex metabolites of biological systems. When compared to other conventional analysis techniques, mass spectrometry is the only one for molecular weight determination, through which users can predict the molecular formula.

The Hybrid Mass Spectrometry segment is expected to have the highest CAGR during the forecast period

The Hybrid Mass Spectrometry segment is expected to have the highest CAGR during the forecast period owing to the extensive applications coupled with the technological advancements which are driving the growth of this segment. Moreover, their application and level of performance compared to other types of spectrometers. Hybrid mass spectrometry combines numerous mass-analyser components to achieve extreme performance in a single test. Increased performance of mass spectrometer can be measured in terms of higher sensitivity and resolving power, rapid data production & abundance of data-sets are additional set of benefits obtainable by hybrid mass spectrometers.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the presence of favourable government funding programs such as for research studies National Institutes of Health, funded a grant for biomedical research to the University of Georgia are the factors attributing for its largest share.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period due to the increase in acceptance of these technological platforms across various fields. Moreover, increasing technological adoption and government initiatives. Growing investments and funding in drug discovery development are also boosting the market. Technology plays a vital role in product development or improvement. Innovations in icon chromatography-mass spectrometry systems provide significant opportunities for the market in emerging countries to implement various applications such as environmental analysis, chemical analysis, and others. Growing demand for tandem and hyphenated techniques and the adoption of advanced mass spectrometry technologies such as increased speed, improved resolution, and high accuracy propel market growth.



Key players in the market

Some of the key players profiled in the Mass Spectrometer Market include Agilent Technologies, Analytik Jena, Bruker, Dani Instruments, Hiden Analytical, Jeol, Kore Technologies Ltd, Leco, Perkinelmer, Rigaku, Sciex, Shimadzu Corporation, Thermo Fisher Scientific and Waters Corporation. 

Key Developments:

In January 2021: Bruker Corporation announced the supply of NMR spectrometers for protein research to three world-leading institutions, which are accelerating their research into functional structural biology and human disease.

In September 2021: Thermo Fisher Company launched the world’s first net-zero mass spectrometer. This product is the first spectrometer developed under the ground-breaking IsoFootprint initiative in order to tackle CO₂ emissions for more sustainable science. In June 2021, the company announced the official launch of the next-generation MS-based solution called Orbitrap IQ-X Tribrid mass spectrometer.
 
Products Covered:
• Gas Chromatography Mass Spectrometer (GC-MS)
• Inductively Coupled Plasma Mass Spectrometer (ICP-MS)
• Matrix-Assisted Laser Desorption Ionization - (Maldi) Time-Of-Flight
• Single Quadruple
• Tandem Mass Spectrometry
• Time-Of-Flight Liquid Chromatography Mass Spectrometry
• Other Products
 
Platforms Covered:
• Hybrid Mass Spectrometry
• Single Mass Spectrometry
• Other Platforms
 
Applications Covered:
• Biotechnology
• Clinical Research
• Diagnostics & Environmental Testing
• Drug Discovery
• Food & Beverage Testing
• Forensic Toxicology
• Metabolomics
• Petrochemical
• Pharmaceutical
• Proteomics
• Security & Defense
• Geological Analysis
• Other Applications
 
End Users Covered:
• Ceramics and Plastics
• Chemicals
• Institutes and Research Centers
• Law Enforcement, Defense, & First Responders
• Medical
• Metal Processing
• Mining
• Oil and Gas
• Semiconductor and Electronics
• Testing, Inspection & Certification (Service Providers)
• Waste and Water Treatment Utilities

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Table of Contents

1 Executive Summary    
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders   
 2.3 Research Scope   
 2.4 Research Methodology   
  2.4.1 Data Mining  
  2.4.2 Data Analysis  
  2.4.3 Data Validation  
  2.4.4 Research Approach  
 2.5 Research Sources   
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions  
     
3 Market Trend Analysis    
 3.1 Introduction   
 3.2 Drivers   
 3.3 Restraints   
 3.4 Opportunities   
 3.5 Threats   
 3.6 Product Analysis   
 3.7 Application Analysis   
 3.8 End User Analysis   
 3.9 Emerging Markets   
 3.10 Impact of Covid-19   
     
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry   
     
5 Global Mass Spectrometer Market, By Product    
 5.1 Introduction   
 5.2 Gas Chromatography Mass Spectrometer (GC-MS)   
 5.3 Inductively Coupled Plasma Mass Spectrometer (ICP-MS)   
 5.4 Matrix-Assisted Laser Desorption Ionization - (MALDI) Time-Of-Flight   
 5.5 Single Quadruple   
 5.6 Tandem Mass Spectrometry   
 5.7 Time-Of-Flight Liquid Chromatography Mass Spectrometry   
 5.8 Other Products   
     
6 Global Mass Spectrometer Market, By Platform    
 6.1 Introduction   
 6.2 Hybrid Mass Spectrometry   
  6.2.1 Triple Quadrupole  
  6.2.2 Quadrupole TOF (Q-TOF)  
  6.2.3 Fourier Transform Mass Spectrometry (FTMS)  
 6.3 Single Mass Spectrometry   
  6.3.1 ION Trap  
  6.3.2 Quadrupole  
  6.3.3 Time-Of-Flight (TOF)  
 6.4 Other Platforms   
     
7 Global Mass Spectrometer Market, By Application     
 7.1 Introduction   
 7.2 Biotechnology    
 7.3 Clinical Research   
 7.4 Diagnostics & Environmental Testing    
 7.5 Drug Discovery   
 7.6 Food & Beverage Testing    
 7.7 Forensic Toxicology   
 7.8 Metabolomics   
 7.9 Petrochemical   
 7.10 Pharmaceutical   
 7.11 Proteomics   
 7.12 Security & Defense   
 7.13 Geological Analysis   
 7.14 Other Applications   
     
8 Global Mass Spectrometer Market, By End User    
 8.1 Introduction   
 8.2 Ceramics and Plastics   
 8.3 Chemicals   
 8.4 Institutes and Research Centers   
 8.5 Law Enforcement, Defense, & First Responders   
 8.6 Medical   
 8.7 Metal Processing   
 8.8 Mining   
 8.9 Oil and Gas   
 8.10 Semiconductor and Electronics   
 8.11 Testing, Inspection & Certification (Service Providers)   
 8.12 Waste and Water Treatment Utilities   
 8.13 Other End Users   
     
9 Global Mass Spectrometer Market, By Geography    
 9.1 Introduction   
 9.2 North America   
  9.2.1 US  
  9.2.2 Canada  
  9.2.3 Mexico  
 9.3 Europe   
  9.3.1 Germany  
  9.3.2 UK  
  9.3.3 Italy  
  9.3.4 France  
  9.3.5 Spain  
  9.3.6 Rest of Europe  
 9.4 Asia Pacific   
  9.4.1 Japan  
  9.4.2 China  
  9.4.3 India  
  9.4.4 Australia  
  9.4.5 New Zealand  
  9.4.6 South Korea  
  9.4.7 Rest of Asia Pacific  
 9.5 South America   
  9.5.1 Argentina  
  9.5.2 Brazil  
  9.5.3 Chile  
  9.5.4 Rest of South America  
 9.6 Middle East & Africa   
  9.6.1 Saudi Arabia  
  9.6.2 UAE  
  9.6.3 Qatar  
  9.6.4 South Africa  
  9.6.5 Rest of Middle East & Africa  
      
10 Key Developments    
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 10.2 Acquisitions & Mergers   
 10.3 New Product Launch   
 10.4 Expansions   
 10.5 Other Key Strategies   
     
11 Company Profiling    
 11.1 Agilent Technologies    
 11.2 Analytik Jena    
 11.3 Bruker    
 11.4 Dani Instruments    
 11.5 Hiden Analytical    
 11.6 Jeol    
 11.7 Kore Technologies Ltd   
 11.8 Leco   
 11.9 Perkinelmer    
 11.10 Rigaku    
 11.11 Sciex    
 11.12 Shimadzu Corporation    
 11.13 Thermo Fisher Scientific    
 11.14 Waters Corporation    
     
List of Tables     
1 Global Mass Spectrometer Market Outlook, By Region (2020-2028) (US $MN)     
2 Global Mass Spectrometer Market Outlook, By Product (2020-2028) (US $MN)     
3 Global Mass Spectrometer Market Outlook, By Gas Chromatography Mass Spectrometer (GC-MS) (2020-2028) (US $MN)     
4 Global Mass Spectrometer Market Outlook, By Inductively Coupled Plasma Mass Spectrometer (ICP-MS) (2020-2028) (US $MN)     
5 Global Mass Spectrometer Market Outlook, By Matrix-Assisted Laser Desorption Ionization - (MALDI) Time-Of-Flight (2020-2028) (US $MN)     
6 Global Mass Spectrometer Market Outlook, By Single Quadruple (2020-2028) (US $MN)     
7 Global Mass Spectrometer Market Outlook, By Tandem Mass Spectrometry (2020-2028) (US $MN)     
8 Global Mass Spectrometer Market Outlook, By Time-Of-Flight Liquid Chromatography Mass Spectrometry (2020-2028) (US $MN)     
9 Global Mass Spectrometer Market Outlook, By Other Products (2020-2028) (US $MN)     
10 Global Mass Spectrometer Market Outlook, By Platform (2020-2028) (US $MN)     
11 Global Mass Spectrometer Market Outlook, By Hybrid Mass Spectrometry (2020-2028) (US $MN)     
12 Global Mass Spectrometer Market Outlook, By Triple Quadrupole (2020-2028) (US $MN)     
13 Global Mass Spectrometer Market Outlook, By Quadrupole TOF (Q-TOF) (2020-2028) (US $MN)     
14 Global Mass Spectrometer Market Outlook, By Fourier Transform Mass Spectrometry (FTMS) (2020-2028) (US $MN)     
15 Global Mass Spectrometer Market Outlook, By Single Mass Spectrometry (2020-2028) (US $MN)     
16 Global Mass Spectrometer Market Outlook, By ION Trap (2020-2028) (US $MN)     
17 Global Mass Spectrometer Market Outlook, By Quadrupole (2020-2028) (US $MN)     
18 Global Mass Spectrometer Market Outlook, By Time-Of-Flight (TOF) (2020-2028) (US $MN)     
19 Global Mass Spectrometer Market Outlook, By Other Platforms (2020-2028) (US $MN)     
20 Global Mass Spectrometer Market Outlook, By Application (2020-2028) (US $MN)     
21 Global Mass Spectrometer Market Outlook, By Biotechnology (2020-2028) (US $MN)     
22 Global Mass Spectrometer Market Outlook, By Clinical Research (2020-2028) (US $MN)     
23 Global Mass Spectrometer Market Outlook, By Diagnostics & Environmental Testing (2020-2028) (US $MN)     
24 Global Mass Spectrometer Market Outlook, By Drug Discovery (2020-2028) (US $MN)     
25 Global Mass Spectrometer Market Outlook, By Food & Beverage Testing (2020-2028) (US $MN)     
26 Global Mass Spectrometer Market Outlook, By Forensic Toxicology (2020-2028) (US $MN)     
27 Global Mass Spectrometer Market Outlook, By Metabolomics (2020-2028) (US $MN)     
28 Global Mass Spectrometer Market Outlook, By Petrochemical (2020-2028) (US $MN)     
29 Global Mass Spectrometer Market Outlook, By Pharmaceutical (2020-2028) (US $MN)     
30 Global Mass Spectrometer Market Outlook, By Proteomics (2020-2028) (US $MN)     
31 Global Mass Spectrometer Market Outlook, By Security & Defense (2020-2028) (US $MN)     
32 Global Mass Spectrometer Market Outlook, By Geological Analysis (2020-2028) (US $MN)     
33 Global Mass Spectrometer Market Outlook, By Other Applications (2020-2028) (US $MN)     
34 Global Mass Spectrometer Market Outlook, By End User (2020-2028) (US $MN)     
35 Global Mass Spectrometer Market Outlook, By Ceramics and Plastics (2020-2028) (US $MN)     
36 Global Mass Spectrometer Market Outlook, By Chemicals (2020-2028) (US $MN)     
37 Global Mass Spectrometer Market Outlook, By Institutes and Research Centers (2020-2028) (US $MN)     
38 Global Mass Spectrometer Market Outlook, By Law Enforcement, Defense, & First Responders (2020-2028) (US $MN)     
39 Global Mass Spectrometer Market Outlook, By Medical (2020-2028) (US $MN)     
40 Global Mass Spectrometer Market Outlook, By Metal Processing (2020-2028) (US $MN)     
41 Global Mass Spectrometer Market Outlook, By Mining (2020-2028) (US $MN)     
42 Global Mass Spectrometer Market Outlook, By Oil and Gas (2020-2028) (US $MN)     
43 Global Mass Spectrometer Market Outlook, By Semiconductor and Electronics (2020-2028) (US $MN)     
44 Global Mass Spectrometer Market Outlook, By Testing, Inspection & Certification (Service Providers) (2020-2028) (US $MN)      
45 Global Mass Spectrometer Market Outlook, By Waste and Water Treatment Utilities (2020-2028) (US $MN)     
46 Global Mass Spectrometer Market Outlook, By Other End Users (2020-2028) (US $MN)     
     
Note: North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in above manner.        

 

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