Market Overview
The Global Mass Spectrometry Market is expected to reach a value of
USD 5.7 billion in 2023, and it is further projected to reach a market value of
USD 12.3 billion in 2032 at a
CAGR of 8.8%. Mass spectrometry is an analytical measuring technique that is used for precise identification, quantification, and characterization of
chemical compounds. It is used in different fields such as pharmaceuticals, biotechnology, environmental analysis, and life sciences for analytical studies.
This market offers various types of mass spectrometry instruments, such as time-of-flight (TOF), quadrupole, and ion trap mass, which provide expertise in various research fields like proteomics, metabolomics, and drug discovery. In the past few years, this market has experienced notable advancements in the development of more advanced mass spectrometry technology. This progress is driven by the rise in research activities within the
pharmaceutical and biotechnology sectors.
Market Dynamic
The global mass spectrometry market exhibits dynamic growth which is influenced by various factors. The primary growth drivers in this market includes the continuous technological advancements which enhance the precision and capabilities of mass spectrometry instruments. The increasing focus on pharmaceutical and biotechnology research, coupled with rising government and private funding for scientific endeavours, contributes significantly to market expansion.
The evolution of mass spectrometry techniques serves as a pivotal catalyst for market growth. These sophisticated techniques enable the analysis of all elements within intricate samples, facilitating heightened resolution of components. The adoption of state-of-the-art mass spectrometers, driven by technological advancements, plays a pivotal role in propelling market expansion.
Additionally, the expanding applications of mass spectrometry in clinical diagnostics, proteomics, and environmental analysis further stimulate market growth. On the flip side, several constraints impact the market dynamics. Economic fluctuations, regulatory challenges, and stringent compliance standards pose hurdles for market players. The complex and capital-intensive nature of mass spectrometry technology can be a limiting factor, affecting adoption rates.
Research Scope and Analysis
By Technology
Quadrupole Liquid Chromatography-Mass Spectrometry (LC-MS) dominates the technology segment of the mass spectrometry market as it holds 39.5% of the market share in 2023 and is expected to show subsequent growth in the upcoming years as well.
The quadrupole liquid chromatography-mass spectrometry (LC-MS) is made by the combination of quadrupole technology with liquid chromatography that enhances its analytical capabilities. LC-MS is also used for the separation and analysis of complex mixtures, making it more suitable for analysis in different industries. This method also offers high sensitivity and selectivity where the quadrupole mass filter allows precise mass selection, enabling the identification and quantification of compounds with exceptional accuracy which is crucial in the pharmaceutical and biotechnology industry, where the detection of trace-level components and the characterization of complex molecules are especially important.
Furthermore, Quadrupole LC-MS systems are known for their reliability, robustness, and ease of use. These characteristics make them accessible to a broader user base, including researchers and analysts who may not be mass spectrometry experts.
By End-use
Based on the End-use of mass spectrometry, pharmaceutical & biotechnology companies dominate this segment as they hold 44.9% of the market share in 2023 and are anticipated to show subsequent growth in the upcoming period of 2023 to 2032.
Pharmaceutical and biotechnology companies dominate the End-use segment of the mass spectrometry market for several reasons, like these industries heavily rely on advanced analytical techniques for research and development activities. In the pharmaceutical industry, mass spectrometry is mainly used for drug discovery, ensuring the accurate identification and quantification of complex compounds. Biotechnology companies utilize mass spectrometry for proteomic and genomic research, enabling precise analyses of biomolecules. Also, the strict regulatory requirements in the pharmaceutical and biotechnology sectors necessitate the requirement of high-precision and reliable analytical tools. Mass spectrometry, with its capability to provide detailed and accurate data, aligns with the stringent quality standards imposed by regulatory bodies.
Moreover, the significant financial resources available to pharmaceutical and biotechnology companies allow them to invest in the research and development of cutting-edge technologies, including the latest mass spectrometry systems. This financial capacity, combined with the critical importance of precise analytical data in drug development and biomolecular research, positions these companies as key drivers in the mass spectrometry market's End-use segment.
The Mass Spectrometry Market Report is segmented on the basis of the following:
By Technology
- Quadrupole Liquid Chromatography-Mass Spectrometry
- Fourier Transform-Mass Spectrometry (FT-MS)
- Gas Chromatography-Mass Spectrometry (GC-MS)
- Matrix-Assisted Laser Desorption/Ionization-Time-of-Flight Mass Spectrometry (MALDI-TOF)
- Time-of-Flight Mass Spectrometry (TOFMS)
- Magnetic Sector Mass Spectrometry
- Others
By Application
- Proteomics
- Metabolomics
- Glycomics
- Others
By End-use
- Pharmaceutical & Biotechnology Companies
- Government & Academic Institutions
- Other
Regional Analysis
North America dominates the global mass spectrometry market as it holds 43.2% of market revenues in 2023 and is expected to show subsequent growth in the forecasted period of 2023 to 2032 as well.
The dominance of this region in the mass spectrometry market can be attributed to its highly developed ecosystem that fosters various research institutions and companies that are actively investing in the development of advanced mass spectrometry technologies.
North America consists of a well-developed healthcare infrastructure, with well-established clinical and diagnostic laboratories that play a crucial role in clinical diagnostics, biomarker discovery, and personalized medicine, contributing to its widespread adoption in the
healthcare industry. Moreover, this region has always been at the forefront of technological innovation, contributing to the development of mass spectrometry instruments. In North America, particularly the United States, the concentration of leading research institutions and pharmaceutical companies is driving the demand for advanced analytical technologies like mass spectrometry.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape of the global mass spectrometry market is characterized by the presence of several key players offering a range of innovative solutions across various applications. This market fosters various prominent players like Thermo Fisher Scientific, Agilent Technologies, and Waters Corporation, who dominate this market as they offer comprehensive solutions in life sciences, pharmaceuticals, and analytical chemistry. These companies showcase a diverse range of mass spectrometry instruments and technologies.
Bruker Corporation, PerkinElmer, and Shimadzu Corporation are significant contributors, offering analytical instruments for applications such as environmental monitoring and forensics. AB Sciex, a part of Danaher Corporation, specializes in mass spectrometry and chromatography technologies for clinical diagnostics and pharmaceuticals. JEOL Ltd., a Japanese firm, focuses on scientific and medical instruments, including mass spectrometers. The competitive landscape of global mass spectrometry is shaped by continuous technological advancements, product innovation, and strategic collaborations
Some of the prominent players in the Global Mass Spectrometry Market are:
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- Danaher Corporation
- Waters Corporation
- BrU.K.er Corporation
- Shimadzu Corporation
- PerkinElmer Inc.
- Rigaku Corporation
- LECO Corporation
- JEOL Ltd.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Mass Spectrometry Market:
The pandemic had varying effects on research activities in different sectors. Some laboratories and research facilities faced disruptions or closures due to the pandemic which extensively affected the demand for mass spectrometry instruments that are used in analytical and scientific research. However, certain areas, such as those related to virus research and drug development, experienced increased demand for advanced analytical techniques, potentially benefiting the mass spectrometry market.
Like many other industries, the mass spectrometry market also faced various challenges related to supply chain disruptions which resulted in delays in the production and transportation of components that significantly impacted the availability and delivery of mass spectrometry instruments. Moreover, the pandemic emphasised the importance of healthcare and pharmaceutical research that drives the understanding of combatting the virus could have driven demand for mass spectrometry applications in areas such as proteomics, metabolomics, and drug discovery.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 5.7 Bn |
| Forecast Value (2032) |
USD 12.3 Bn |
| CAGR (2023-2032) |
8.8% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Technology (Quadrupole Liquid Chromatography-
Mass Spectrometry, Fourier Transform-Mass
Spectrometry (FT-MS), Gas Chromatography-Mass
Spectrometry (GC-MS), Matrix-Assisted Laser
Desorption/Ionization-Time-of-Flight Mass
Spectrometry (MALDI-TOF), Time-of-Flight Mass
Spectrometry (TOFMS), Magnetic Sector Mass
Spectrometry and Others), By Application, By End-use
(Pharmaceutical & Biotechnology Companies,
Government & Academic Institutions and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Thermo Fisher Scientific Inc., Agilent Technologies
Inc., Danaher Corporation, Waters Corporation,
BrU.K.er Corporation, Shimadzu Corporation,
PerkinElmer Inc., Rigaku Corporation, LECO
Corporation, JEOL Ltd., and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Mass Spectrometry Market size is estimated to have a value of USD 5.7 billion in 2023 and is
expected to reach USD 12.3 billion by the end of 2032.
North America has the largest market share for the Global Mass Spectrometry Market with a share of
about 43.2% in 2023.
Some of the major key players in the Global Mass Spectrometry Market are Thermo Fisher Scientific Inc.,
Agilent Technologies Inc., Danaher Corporation, Waters Corporation, BrU.K.er Corporation, Shimadzu
Corporation, PerkinElmer Inc., Rigaku Corporation, LECO Corporation, JEOL Ltd., and many others.
The market is growing at a CAGR of 8.8 percent over the forecasted period.