Mass Spectrometry Market Report by Opportunity, Demand, Recent Trends, Major Driving Factors and Business Growth Strategies

 Mass Spectrometry Market Growth & Trends

The global mass spectrometry market size is projected to reach USD 9,697.0 million by 2030, at a CAGR of 8.06% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding early detection of chronic and infectious diseases and emerging technological advancements in diagnostic instruments are expected to significantly drive the market growth. In addition, there has been an increase in demand for cost-effective and automated techniques for disease diagnosis which is anticipated to increase the demand for mass spectrometry techniques and positively affect the growth.

The COVID-19 pandemic has boosted the demand for vaccine development due to recent advancements in virology-based research. Here, mass spectrometry has applications for the study of viral structure for SARS-CoV-2. The technique can also be used to study complex protein structures and protein-protein interactions associated with the virus. Hence, various pharmaceutical and biotechnology companies involved in COVID-19 vaccine and drug development efforts are anticipated to increase the demand for instruments and consumables.

In addition, various academic institutions and companies are indulging in product development strategies to support the demand for mass spectrometry from the proteomic market. For instance, in September 2022, the director of Northwestern’s Proteomics Center of Excellence published a paper on the development of a new imaging approach to enhance the identification of intact proteoforms. The team of researchers has built a Proteoform Imaging Mass Spectrometry (PiMS) system which is anticipated to assist mass spectrometry in various applications, including the detection of novel biomarkers, mapping of molecular tissue, and improvement in disease diagnosis.

Similarly, in October 2022, Thermo Fisher Scientific, Inc. announced the launch of mass spectrometry consumables and instrument that allows end-users in proteomics and biopharma to achieve significant breakthroughs. The instrument, known as Thermo Scientific Orbitrap Ascend Tribrid mass spectrometer, provides a new capability to direct multiple ions and enables to gain deeper insights into samples, along with rapid detection.

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Mass Spectrometry Market Report Highlights

• The instruments segment held the largest revenue share of 77.39% in 2022. This instrument segment drives the mass spectrometry industry as spectrometers offer a wide range of applications in the biotechnology sector for diagnostics and drug development
• Quadrupole liquid chromatography-mass spectrometry dominated the market in 2022 with a share of 37.09%. This is due to the significant advantages in accuracy and in-depth analysis offered by the technology
• By application, proteomics accounted for the largest share of 46.69% in 2022. The rising prevalence of infectious disease globally and efficient testing alternatives offered by mass spectrometry-based diagnostic techniques are driving the segment
• North America held the largest revenue share of 41.94% in 2022, due to the presence of an established healthcare sector and key players such as Thermo Fisher Scientific, Inc.; Agilent Technologies, Inc.; Bruker Corporation; Danaher Corporation, and others in the region
• The pharmaceutical and biotechnology companies segment held the largest revenue share of 43.98% in 2022. This is due to the rapid increase in research and development activities in recent years

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Mass Spectrometry Market Segmentation

Grand View Research has segmented the global mass spectrometry market based on product, technology, application, end-use, and region:

Mass Spectrometry Product Outlook (Revenue, USD Million, 2018 - 2030)

• Instruments
• Consumables & Services

Mass Spectrometry Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Quadrupole Liquid Chromatography-Mass Spectrometry
• Gas Chromatography-Mass Spectrometry (GC-MS)
• Fourier Transform-Mass Spectrometry (FT-MS)
• Time-of-Flight Mass Spectrometry (TOFMS)
• Matrix Assisted Laser Desorption/Ionization-Time-of-Flight Mass Spectrometry (MALDI-TOF)
• Magnetic Sector Mass Spectrometry
• Others

Mass Spectrometry Application Outlook (Revenue, USD Million, 2018 - 2030)

• Proteomics          
• Metabolomics      
• Glycomics           
• Others     

Mass Spectrometry End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Government & Academic Institutions
• Pharmaceutical & Biotechnology Companies
• Others

Mass Spectrometry Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players in the Mass Spectrometry Market

• Thermo Fisher Scientific, Inc.
• Agilent Technologies, Inc.
• Danaher Corporation
• Waters Corporation
• Bruker Corporation
• Shimadzu Corporation
• PerkinElmer, Inc.
• Rigaku Corporation
• LECO Corporation
• JEOL Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.