Rockville, Aug. 29, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, for 2023, the global Q-TOF Mass Spectrometry Market is estimated at US$ 832 million and is forecasted to climb to US$ 1.63 billion by the end of 2033. Surging investments in biotechnology research are set to bolster the use of Q-TOF mass spectrometers over the coming years.
Q-TOF mass spectrometer produces readings that are more precise than those of any other spectrometer. To ensure the correctness of the results/output, it uses two or more mass analyzers with an additional reaction step. All of these factors collectively indicate that the worldwide Q-TOF mass spectrometer market is predicted to rise significantly over the next ten years.
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This detailed Q-TOF mass spectrometry market research analysis by Fact.MR, a market research and competitive intelligence provider, sheds light on current and future market trends to give a comprehensive understanding of the global market landscape.
Key Takeaways from Market Study
- In 2023, the Q-TOF mass spectrometry market stands at a valuation of US$ 832 million.
- Demand for Q-TOF mass spectrometry is projected to expand at a CAGR of 6.9% from 2023 to 2033.
- The market is anticipated to attain a revenue value of US$ 1.63 billion by 2033.
- Rising focus on proteomics analysis, increasing use of biomarkers in medical research applications, advancements in mass spectrometry techniques, and supportive government initiatives to promote R&D are key market drivers.
- Dearth of skilled professionals and high costs of spectrometry systems are estimated to be major restraints for market development.
- Use of Q-TOF mass spectrometry for biotechnology applications accounts for 40% of global market revenue in 2023.
“Diversifying the applications of Q-TOF mass spectrometry will be crucial to the success of Q-TOF mass spectrometer producers,” says a Fact.MR analyst
Winning Strategy
Q-TOF mass spectrometry providers are projected to focus on reducing the costs of their offerings to boost their sales and revenue generation capacity in the long run. Companies are also making efforts to make their devices portable and more sensitive to provide more functionality in research applications.
Competitive Landscape: Advancements in Q-TOF Mass Spectrometry
The competitive arena of Q-TOF (Quadrupole Time-of-Flight) mass spectrometry is marked by a dynamic landscape where leading manufacturers are continuously striving to innovate and stay ahead. Their strategic focus revolves around the introduction of cutting-edge products, a key driver for revenue growth and the establishment of a formidable global market presence.
A noteworthy development occurred in June 2023 when Thermo Fisher Scientific Inc., a renowned player in the life sciences sector, launched a cutting-edge mass spectrometer. This innovation represents one of the most substantial advancements in the field over the past 15 years. The Orbitrap™ Astral™ mass spectrometer by the company offers deep proteome coverage, combining rapid throughput with exceptional sensitivity, thereby revolutionizing the landscape of mass spectrometry technology.
Key Companies Profiled
- Waters Corporation
- Agilent Technologies Inc.
- Bruker Corporation
- SCIEX
- Shimadzu Corporation
- Danaher
- Thermo Fisher Scientific Inc.
- Shimadzu
- PerkinElmer Inc.
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Why Q-TOF Mass Spectrometry Providers Target the United States:
"Growing Demand for High-Resolution Q-TOF Mass Spectrometers in Robust Research Landscape"
The United States presents an attractive market for Q-TOF mass spectrometry providers due to its burgeoning research institutions, substantial R&D investments, a conducive funding environment, robust healthcare infrastructure, and an upsurge in drug development procedures.
This expansion is further propelled by the rising adoption of Q-TOF mass spectrometry instruments in the food and beverage industry, escalating demand for high-resolution and precise Q-TOF mass spectrometers within research institutions, and increased biotechnology sector R&D initiatives.
One of the primary driving factors is the country's vibrant landscape of research institutions. The United States boasts an extensive network of universities, laboratories, and research centers engaged in a diverse array of scientific pursuits. This robust research ecosystem creates a substantial demand for cutting-edge analytical tools, with Q-TOF mass spectrometry instruments being at the forefront of this demand.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Q-TOF mass spectrometry market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (below 2,000 FWHM, 2,000 to 5,000 FWHM, above 5,000 FWHM) and application (biotechnology, pharmaceuticals, food & beverage testing, environmental testing, petrochemicals, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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