Dublin, April 08, 2024 (GLOBE NEWSWIRE) -- The "Global Mass Spectrometry Market Analysis & Forecast 2024-2034: Market By Product; By Technology; By Application; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
The global mass spectrometry market was estimated to be USD 6.32 billion in 2023 and is expected to reach at USD 15.50 billion by 2034 with a CAGR of 8.49% during the forecast period 2024-2034. Rising technological advancement in mass spectrometry techniques, increasing focus on development of diagnostics procedures for different types of cancer, growing prevalence of chronic diseases, surge in research & development investments for the development of new diagnostic techniques, rising mergers & acquisitions within market players, and increasing launch of innovative & advanced mass spectrometer devices are some of the key factors boosting the market growth. 
Increasing launch of innovative & advanced mass spectrometer devices is predicted to boost the market growth during the forecast period. Growing emphasis on the study and development of novel medicinal compounds has raised the need for precise analytical tests, increasing the requirement for tools such as mass spectrometers. The user may now pick a specific mass spectrometer depending on the required level of precision thanks to the diverse product choices from key companies. For instance, in February 2023, SCIEX has revealed a partnership with HighRes Biosolutions to introduce personalized automation solutions utilizing Cellario software, enhancing the automation capabilities of the Echo MS system.
By product, instruments was the highest revenue-grossing segment in the global mass spectrometry market in 2023 owing to the rising applications of spectrometers in the biotechnology sector, growing awareness regarding the benefits of mass spectrometry workflows, increasing adoption in clinical & preclinical testing for drug discovery & biomedical research in the pharmaceutical industries, and surge in launch of new products. For instance, in August 2022, Thermo Fisher Scientific Inc., a global leader in supporting scientific endeavors, is presenting a fresh mass spectrometry device and associated supplies. These offerings empower biopharmaceutical and proteomics clients to achieve significant scientific advancements and address analytical obstacles. Additionally, consumables & services is predicted to grow at fastest CAGR during the forecast period owing to the surge in demand for such products from various academic institutions & research centers, growing demand for mass spectrometry systems by researchers in their labs, surge in adoption of the technique for various academic & pharmaceutical research & development activities.
By technology, hybrid mass spectrometry was the highest revenue-grossing segment in the global mass spectrometry market in 2023 owing to increased performance of the instrument, which may be quantified in terms of greater sensitivity and resolving power, quick data output, & an abundance of data sets, and rising launch of advanced products. For instance, in June 2022, At the 70th ASMS Conference on Mass Spectrometry and Allied Topics, Agilent Technologies Inc. unveiled a brand-new instrument in conjunction with the Agilent 6475 triple quadrupole LC/MS system. According to the company, this system is the next development in a sensitive, robust, and robust mass spectrometer. The 6475 has intelligent reflex built in, an automatic sample reinjection feature that intelligently 'reflexes' to particular analysis circumstances and instantly validates findings. This feature accelerates analysis time and minimizes human participation. Additionally, single mass spectrometry is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for quadrupole liquid chromatography-mass spectrometry, rising adoption in clinical research analysis,
By application, proteomics was the highest revenue-grossing segment in the global mass spectrometry market in 2023 owing to the range of research into protein structure, function, transformation, & overall protein dynamics has increased due to technological developments and the general availability of quantitative proteomics procedures, and rising developments in mass spectrometry technology. Additionally, metabolomics is predicted to grow at fastest CAGR during the forecast period owing to the numerous uses for mass spectrometry in the detection and treatment of cancer, growing technological advancements, and rising launch of innovative systems. For instance, in March 2022, A tabletop tandem mass spectrometer with excellent sensitivity and small size was introduced by Waters Corporation as the Xevo TQ Absolute system. The business claims that this most recent mass spectrometer is up to 15X more sensitive than its predecessor for assessing negatively ionizing chemicals, is 45% smaller, and consumes up to 50% less gas and energy.
By end-user, pharmaceutical & biotechnology companies was the highest revenue-grossing segment in the global mass spectrometry market in 2023 owing to the rising adoption of protein sequencing using mass spectrometry in the pharmaceutical industry for drug discovery & development processes, increasing demand for biomolecule analysis & drug component analysis, surge in investments in biopharmaceutical research and development activities in the proteomics domain, and increasing mergers & acquisitions within market players. For instance, in February 2022, Waters Corporation has declared its acquisition of the technological assets and intellectual property rights belonging to Megadalton Solutions, Inc., a fledgling company engaged in the development of Charge Detection Mass Spectrometry (CDMS) technology and related services. Additionally, government & academic institutions is predicted to grow at fastest CAGR during the forecast period owing to the increasing healthcare expenditure, surge in government funding for research activities, growing role of mass spectrometry techniques for disease surveillance & epidemiological research.
North America is anticipated for the highest revenue share during the forecast period owing to the growing technological advancements in spectrometry techniques, rising integration of advanced hardware & software processes in spectrometry devices, increasing research & development activities, surge in government funding, and surge in launch of new platforms. For instance, in June 2023, Thermo Fisher Scientific has introduced the Thermo Scientific Orbitrap Astral mass spectrometer, marking a major leap forward in mass spectrometry, a field that hasn't seen such a significant advancement in 15 years. This innovative Astral analyzer offers rapid processing, exceptional sensitivity, and extensive proteome analysis capabilities, enabling researchers around the globe to identify proteins that were previously hard to detect and accelerate their breakthrough discoveries more effectively than before. Additionally, Asia Pacific is predicted to grow at fastest CAGR during the forecast period owing to the increasing focus on healthcare systems, increasing attention drawn by proteomics & genomics research, surge in initiatives undertaken by academic institutions for the development of protein-based therapeutics, and growing launch of advanced MS devices. For instance, in June 2022, The LCMS-2050 liquid chromatography quadrupole mass spectrometer was introduced by Shimadzu Scientific Instruments. It has a much smaller size and offers high-speed and high-sensitivity analysis.
Global Mass Spectrometry Market Analysis & Forecast (2023-2034, Revenue USD Billion) by:
Product
- Consumables & Services
- Instruments
Technology
- Single Mass Spectrometry
- Time-of-Flight (TOF)
- ION Trap
- Quadrupole
- Hybrid Mass Spectrometry
- FTMS (Fourier Transform Mass Spectrometry)
- Quadrupole TOF (Q-TOF)
- Triple Quadrupole (Tandem)
- Others
Application
- Glycomics
- Metabolomics
- Proteomics
- Others
End-user
- Government & Academic Institutions
- Pharmaceutical & Biotechnology Companies
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Companies Featured in the Report
- Waters Corporation
- Kore Technology Ltd.
- Danaher Corporation
- Shimadzu Corporation
- Agilent Technologies Inc.
- Leco Corporation
- Bruker Corporation
- Hiden Analytical
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $6.32 Billion |
| Forecasted Market Value (USD) by 2034 | $15.5 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/vd828l
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
