The global mass spectrometry market has an increasing demand for tandem and hyphenated techniques coupled with the introduction of technological advancements in the field of mass spectrometry such as improved resolution, increased speed, and high accuracy as a high impact rendering driver for its growth.
Mass spectrometry has emerged as a dominant analytical tool applied to the pharmaceutical and health life sciences sector. Advance technologies such as ion mobility spectrometry and capillary electrophoresis are being used for the separation of complex biological mixtures such as derived peptide products. The increasing use of mass spectrometry in proteomics, metabolomics, and pharmaceutical sectors and growing trends of miniaturization are expected to propel the growth of this market.
The mass spectrometry market is studied with respect to two broad segments technology and application. The technology segment is segmented into single quadruple, gas chromatography, Fourier transforms, tandem LC/MS, time of flight, and others. The technology finds its applications in various sectors such as energy, government research, utilities, pharmaceuticals, diagnostics and environmental, security & defense, food & beverages, and industrial chemicals fields.
Tandem mass spectrometry is expected to show significant growth during the forecast period due to its considerable advances in newborn screening and protein sequencing. On the basis of application, the market is segmented into biotechnology, pharmaceuticals, research, food & beverage, environmental testing, and others. Food & beverage application segment is anticipated to show a fruitful CAGR owing to the increasing demand for mass spectrometry in the food testing processes.
On the basis of geography, the mass spectroscopy market is divided into North America, Europe, Asia Pacific, and RoW. North America held the largest market share followed by Europe in 2013. Presence of advanced technologies and favorable government funding programs for research studies that use mass spectrometry such as the National Institutes of Health in the U.S. funded a grant for biomedical research to the University of Georgia are the factors attributing for its largest share. Asia Pacific market is expected to show a lucrative growth rate owing to the increasing usage rates of mass spectrometry in pharmaceutical industries and in food testing processes.
Key market players in the mass spectrometry market are Thermo Fisher Scientific, PerkinElmer, Inc., Agilent Technologies, Bruker Corporation, Waters Corporation, Bio-Rad Laboratories, Danaher Corporation, Shimadzu Corporation, and others.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.