Mass Spectrometry Market Size, Share, Scope, Growth, Trends and Global Forecast to 2026

August, 2021

Mass Spectrometry Market by Technology, Application, End-user, Region, Region, Trends, Competitive Analysis, and Growth Opportunities, Key Insights.

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Executive Summary

The global mass spectrometry market size is expected to grow from USD 4.08 billion in 2020 to USD 5.89 billion by 2026 at a CAGR of 6.3%.

Increased spending on pharmaceutical R&D worldwide, government regulations on drug safety, growing focus on the quality of food products, increased production of crude gas and shale, and growing government pollution control and environmental testing programs have high prospects for growing large market of mass spectrometry over time.

Unexpected outbreaks of COVID-19 have had a profound effect on the mass spectrometry market. The market is expected to see a different acquisition set by 2020. The widespread acceptance of a variety of testing applications is very high in the healthcare and pharmaceutical industry, biological research, and the food and beverage industries. New drug development, drug duplication, and increased production of pharma formations have led to an increasing need for safety and quality measures in the pharma industry. Strict government regulations and increased demand for quality maintenance in these industries drive the adoption of greater spectrometry. However, disruption of procurement in the petrochemical industry, as well as regulatory relaxation in pollution control are expected to reduce the adoption of mass spectrometers.

The use of R&D in pharmaceutical companies has skyrocketed over the past two decades. Research activities in the pharmaceutical and biotechnology industry are being invested in key areas, such as biopharmaceuticals and customized pharmaceuticals. According to the 2018 EU R&D Investment Scoreboard 2018, the pharmaceutical and biotechnology sector accounts for 18.9% of global R&D spending. Mass spectrometry plays a major role in the pharmaceutical industry, from the early stages of drug discovery to late-stage development and clinical trials. Therefore, the increase in investment in the pharmaceutical and biotechnology industry is expected to encourage the growth of the mass spectrometry market.

Spectrometry instruments are equipped with advanced features and performance and thus cost less. Apart from program costs, system compliance costs at industry levels are also very high. As a result of technological advances and increasing efficiency, demand for more spectrometers has grown over the years. However, advances in technology have increased the prices of the system. The price of an influential display affects the purchase decision of end-users. Pharmaceutical companies need many such programs, and therefore, the cost of capital is very high. In addition, subject research labs find it difficult to pay for these programs, as they control the budget. These are the major factors that limit the acceptance of mass spectrometry systems among end-users.

Developing countries such as China and India present various opportunities for large-scale spectrometry market growth. Together, China and India are in dire need of more tram strokes and hybrid spectrometry instruments thanks to Greenfield projects developed in various user industries in these countries. The biopharmaceutical industry in these countries is strong and is expected to contribute significantly to the growth of the spectrometry and chromatography markets. Key industry players are establishing new facilities, R&D centers, and new facilities to take advantage of this opportunity and partner with players in the Asian market.

Skilled and knowledgeable staff are needed for the optimal use of spectrometry equipment. Errors such as improperly inserting a sample into GC-MS or LC-MS or issues such as fingerprints or foams in the solution may affect the quality of the final result. In addition, in large spectrometry, sample preparation (including aliquoting, dilution, and extraction) is an important step in separating the analyst's interest. It removes distractions that can affect the accuracy of the result. Lack of information about the right technology choices also affects outcomes and can create direct and indirect costs for end-users. There is currently a shortage of skilled workers to improve approach, validation, performance, and problem-solving activities, which are expected to hinder the growth of the mass spectrometry market to some extent in the coming years.

By end-user, the mass spectrometry market is divided into the pharmaceutical industry, biotechnology industry, research & academic institutes, environmental testing industry, food & beverage testing industry, petrochemical industry among and other end users. The pharmaceutical industry is among the largest end-users of mass spectrometers. The availability of government and corporate funding for pharmaceutical research, the growth of the pharmaceutical industry, and the existence of robust drug and safety management guidelines are some of the factors contributing to the growth of this sector during the forecast period.

By product, the market for mass spectrometry is divided into hybrid mass spectrometry, single mass spectrometry and other technologies. The hybrid mass spectrometry component is expected to see very rapid growth during the forecast period. The benefits offered by hybrid mass spectrometers, such as the ability to quickly test and solve high-resolution and precise results, increase its acceptance. As a result, the demand for spectrometry devices for the majority of advanced tests is also growing. The hybrid mass spectrometry component is further subdivided into Triple Quadrupole, Quadrupole ToF (Q-ToF), and Fourier Transform Mass Spectrometry (FTMS).

By application, the mass spectrometry market is divided into life science research, drug discovery, environmental testing, food testing, applied industries, clinical diagnostics, and other applications. Among these, life science research segment dominated the market in 2020. The increasing use of omics technology in the identification and identification of biomarkers and the increase in R&D spending and government proteomics funding are expected to create markets for this segment.

North America is estimated to be the largest market for mass spectrometry market during the forecast period. The North American mass spectrometry market is largely driven by factors such as growing research funding and government programs in the US, widespread use of large-scale spectrometry in the field of metabolomics and petroleum, and CFI funding for spectrometry projects in Canada. In addition, regulatory agencies in the US, such as the Food and Drug Administration (FDA), encourage the use of analytical methods to ensure that pharmaceutical products released on the market comply with quality requirements. Recently, the US has seen a significant increase in shale gas and crude oil production by growing oil fields and this has led to a subsequent increase in the use of analytical tools such as mass spectrometers.

The major players in the mass spectrometry market are Thermo Fisher Scientific (US), PerkinElmer (US), Agilent Technologies (US), Waters Corporation (US), SCIEX (US), Shimadzu Corporation (Japan), JEOL (Japan), Bruker (US), Analytik Jena (Germany), DANI Instruments (Italy), LECO (US), Hiden Analytical (UK), and Rigaku (Japan).

Global Mass Spectrometry Market Size, 2017-2026 (USD Billion)
Global Mass Spectrometry Market Size, By Region, 2017-2026 (USD Billion)
Global Mass Spectrometry Market Revenue Share (%), By Technology (2020)
Global Mass Spectrometry Market Revenue Share (%), By Application (2020)
Global Mass Spectrometry Market Revenue Share (%), By End User (2020)
Global Mass Spectrometry Market Revenue Share (%), By Region (2020)

Market Overview

Definition & Scope

Mass spectrometry (MS) is a process of analysis used to measure the mass-to-charge ratio of ions. The results are often presented as a weight range, a robust strategy as a function of the billing size. Mass spectrometry is used in many different fields and is used in pure samples and in complex mixtures. A large spectrum is a ion signal structure as a function of a large charge rate. These particles are used to specify an elemental or isotopic signature of a sample, the quantity of particles and molecules, and to determine the chemical identity or composition of molecules and other chemicals.

Currency, Year & Forecasts Overview

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.
For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.
For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD.

Industry Analysis

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Market Analysis

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By Technology

Global Mass Spectrometry Market Size, By Technology, 2017-2026 (USD Billion)
Hybrid Mass Spectrometry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Single Mass Spectrometry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Other Mass Spectrometry Technologies Market Size, 2017 vs 2020 vs 2026 (USD Billion)

By Application

Global Mass Spectrometry Market Size, By Application, 2017-2026 (USD Billion)
Life Science Research Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Drug Discovery Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Environmental Testing Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Food Testing Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Applied Industries Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Clinical Diagnostics Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Other Applications Market Size, 2017 vs 2020 vs 2026 (USD Billion)

By End-user

Global Mass Spectrometry Market Size, By End User, 2017-2026 (USD Billion)
Pharmaceutical Industry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Biotechnology Industry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Research & Academic Institutes Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Environmental Testing Industry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Food & Beverage Testing Industry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Petrochemical Industry Market Size, 2017 vs 2020 vs 2026 (USD Billion)
Other End-users Market Size, 2017 vs 2020 vs 2026 (USD Billion)

North America

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Europe

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Asia Pacific

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Middle East & Africa

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Latin America

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Company Analysis

Thermo Fisher Scientific

Thermo Fisher Scientific was founded in 1956 and is headquartered in Massachusetts, US. Its employee strength is 80,000. The company has direct presence across the regions of North America, Europe, Asia Pacific, Middle East and Africa, and South America. It is a leading global supplier of life sciences technologies and solutions. Thermo Fisher Scientific enables its customers to make the world cleaner, safer, and healthier. Thermo Fisher Scientific serves over 400,000 customers from the fields of pharmaceuticals, biotech, hospitals, clinics, diagnostic labs, universities, research institutes, and government.

Mass Spectrometry: Thermo Scientific High Resolution Mass Spectrometry Systems

Competitive Analysis

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Analyst Insights For Success

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Research Methodology

This research study involved the usage of extensive secondary sources, directories, and databases such a Hoovers, Bloomberg Business, Factiva, and Avention, in order to identify and collect information useful for this technical, market-oriented, and commercial study of the global mass spectrometry market. The primary sources were mainly industry experts from the core and related industries. These include service providers, technology developers, standards and certification organizations, and organizations related to all segments of the value chain.

In-depth interviews were conducted with various primary respondents, which include key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as to assess future prospects.

Various secondary sources were referred to for the identification and collection of information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies, white papers, medical journals, certified publications, articles from recognized authors, gold standard and silver standard websites, directories, and databases.

Secondary research was mainly used to obtain key information about the industry’s supply chain, market’s monetary chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, geographical markets, and key developments from both market-and technology-oriented perspectives.

After the market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation) was completed, extensive primary research was conducted to verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; the competitive landscape of global mass spectrometry market; and key market dynamics such as drivers, restraints, opportunities, challenges, and key industry trends.

In the complete market engineering process, both top-down and bottom-up approaches were extensively used along with several data triangulation methods to perform market estimation and market forecasting for the overall market segments and sub segments listed in this report.

Appendix

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