The Mass Spectrometer Market size was USD 6.88 billion in 2022. Covid-19's pandemic has highlighted the importance of advanced analytical techniques and diagnostic tools in managing public health crises. This increased awareness and focus on healthcare preparedness and research are expected to create future opportunities for the mass spectrometer market as investments in healthcare infrastructure and research capabilities are likely to increase. Between 2023 and 2031, the market is projected to grow at a CAGR of 5%, from USD 7.43 billion in 2023 to USD 11.75 billion in 2031. The sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over according to a new report by Intellectual Market Insights Research.
Market Scope and Definition:
The mass spectrometer market refers to the global market for instruments that are used to measure and analyze the masses and chemical compositions of molecules. A mass spectrometer is a scientific instrument that ionizes chemical compounds and separates the ions based on their mass-to-charge ratio. It is widely used in various industries and research fields for applications such as drug discovery, environmental analysis, food safety testing, clinical diagnostics, and forensic analysis. Mass spectrometers operate based on principles of ionization, mass analysis, and ion detection.
The scope of the mass spectrometer market encompasses the various aspects related to the production, distribution, and use of mass spectrometry instruments and related services. The scope also includes analysing market trends, growth drivers, and challenges that impact the adoption and expansion of mass spectrometry technologies. Mass spectrometry (MS) is an analytical chemistry technique that is widely used to identify and quantify chemical species in a sample. It measures the mass-to-charge ratio (m/z) and abundance of gas-phase ions generated from the sample. This includes factors such as technological advancements, increasing demand for advanced analytical tools, growing focus on personalized medicine, and the need for accurate and sensitive analysis in various industries. Several key players in the market are adopting strategies such as mergers, acquisition, partnerships, and collaboration for the expansion their product portfolio. For instance,
- In September 2020, in India, researchers at the Institute of Genomics and Integrative Biology (IGIB) and the National Centre for Disease Control (NCDC) in India were able to achieve a high sensitivity of 95% and specificity of 100% compared to the reference method of RT-PCR (Reverse Transcription Polymerase Chain Reaction).
The High Demand and Resulting Requirements from the Pharmaceutical and Biotechnology Industries are the Main Driving Factors for Mass Spectrometer Market Growth
The pharmaceutical and biotechnology industries are indeed major driving factors for the growth of the mass spectrometer market. The high demand and resulting requirements from these industries contribute significantly to the adoption and advancement of mass spectrometry technology.
The high demand for drug discovery, quality control, biomarker research, and bioanalytical studies in the pharmaceutical and biotechnology industries are driving the adoption and growth of mass spectrometers. The continuous need for advanced analytical techniques to support these industries' research and development efforts further fuels the demand for mass spectrometry technology.
Growing Demand for Drug Discovery and Development is One of the Key Drivers of the Mass Spectrometer Market
The growing demand for drug discovery and development is a significant driver for the adoption of mass spectrometry in the pharmaceutical and biotechnology industries.
Mass spectrometry facilitates the identification and validation of biomarkers, which are measurable indicators of biological processes or disease conditions. By analysing the metabolites, proteins, peptides, and other molecular entities in biological samples, mass spectrometry enables the discovery and verification of potential biomarkers for disease diagnosis, prognosis, and therapeutic response monitoring.
The Human Proteome Organization's Human Proteome Project (HPP) plays a crucial role in advancing the field of proteomics and mass spectrometry. In 2020, the HPP released updated guidelines on the data interpretation of mass spectrometry, specifically focusing on data-independent acquisition (DIA) workflows and the Universal Spectrum Identifier (USI) system.
Triple Quadrupole (Tandem) is Expected to Hold Significant Market Share from the Types of Hybrid Mass Spectrometry
The triple quadrupole (tandem) mass spectrometry is expected to hold a significant market share among the types of hybrid mass spectrometry. Triple quadrupole mass spectrometry is a widely used technique in various applications, including pharmaceutical analysis, clinical research, environmental analysis, and food safety testing.
Triple quadrupole mass spectrometry systems are known for their high speed and throughput capabilities. They can rapidly switch between different precursor-product ion pairs, allowing for efficient analysis of multiple analytes in a single run. This enhances productivity and reduces analysis time, making it suitable for large-scale screening applications.
The high specificity and sensitivity of LC-MS/MS overcome many limitations associated with the traditional immunoassays, such as non-specific antibody binding and cross reactivity.
Market Restraining Factors:
Limited Compatibility with Non-Volatile or High Molecular Weight Compounds and High Expensive Price is a Restraining Factor in the Mass Spectrometer Market
Mass spectrometry is highly effective for the analysis of volatile and small to medium-sized molecules. However, it may have limitations in analysing non-volatile or high molecular weight compounds, such as polymers or large proteins. These compounds may require additional sample preparation or specialized techniques, which can add complexity and time to the analysis.
Mass spectrometers are complex and sophisticated instruments that require advanced technology and precision engineering. As a result, they tend to be expensive, making them less accessible to smaller laboratories or organizations with budget constraints. The high cost of mass spectrometers can hinder their widespread adoption, particularly in resource-limited settings.
Mass Spectrometer Market Players Analysis:
- Thermo Fisher Scientific, Inc.
- Agilent Technologies, Inc.
- Danaher Corporation
- Waters Corporation
- K.er Corporation
- Shimadzu Corporation
- PerkinElmer, Inc.
- Rigaku Corporation
- LECO Corporation
- JEOL Ltd.
- MKS Instruments
- Hitachi Ltd
- Waters Corporation
Key Industry Developments:
- In January 2022, the acquisition of Hiden Analytical Limited by Bruker Corporation is a significant development in the field of mass spectrometry. Bruker Corporation is a well-established company in the analytical instruments industry, and the acquisition of Hiden Analytical Limited will expand its product and service portfolio in the mass spectrometry market.
- In May 2022, the acquisition of Advanced Scientifics, Inc. by Thermo Fisher Scientific is another significant development in the mass spectrometry market. Thermo Fisher Scientific is a prominent company in the scientific research and analytical instruments industry, and the acquisition of Advanced Scientifics, Inc. will further strengthen its position in the field of mass spectrometry.
- In June 2022, Shimadzu Scientific Instruments launched the LCMS-2050 liquid chromatography quadrupole mass spectrometer. This new instrument offers several notable features, including a significantly reduced size compared to previous models, while maintaining high-speed and high-sensitivity analysis capabilities.
- In March 2022, Waters Corporation launched the Xevo TQ Absolute system, a highly sensitive and compact benchtop tandem mass spectrometer.
Mass Spectrometer Market Players & Competitor Analysis:
The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2023-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Mass Spectrometer Market Segmentation Analysis:
The market scope is segmented on the basis of by technology, by application, by end user and by region.
Based on the technology the market is segmented into Gas Chromatography, Liquid Chromatography, Matrix-Assisted Laser Desorption, Time-of-Flight Mass Spectrometry (TOF MS), Quadrupole Mass Spectrometry, Ion Trap Mass Spectrometry, Hybrid mass spectrometry and Others.
Hybrid mass spectrometry: Hybrid mass spectroscopy segment dominates the global market and is anticipated to continue this trend during the forecast period. the growth of this segment is attributable to higher sensitivity and lower limits of detection and higher resolving power.
Liquid Chromatography: Liquid Chromatography MS segment accounted for over 34% share of the global mass spectrometer in year 2021. Liquid chromatography (LC) is a widely used technique in the field of mass spectrometry (MS). When combined with MS, it forms the powerful analytical tool known as liquid chromatography-mass spectrometry (LC-MS). LC-MS combines the separation capabilities of liquid chromatography with the detection and identification capabilities of mass spectrometry.
Based on the application of the market is segmented into Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics and Others.
Life Science: The life science research segment is expected to grow at the highest CAGR in the mass spectrometry market during the forecast period. the life science research segment dominated the market in 2022. The increasing application of omics technology in diagnostics & biomarker identification and the increasing R&D expenditure and government funding for proteomics are expected to drive the market for this segment.
By End User
Based on end user the market is segmented into Research and Academic Institutions, Pharmaceutical and Biotechnology, Contract Research Organizations (CROs), Hospitals and Clinical, Food and Beverage and Others.
Pharmaceutical and Biotechnology: The pharmaceutical and biotechnology companies segment played a dominant role in the mass spectrometer market in 2022, accounting for a significant share of 43.98%. This segment's dominance can be attributed to the extensive adoption of mass spectrometry in protein sequencing for drug discovery and development processes in the pharmaceutical industry.
In the pharmaceutical industry, protein sequencing using mass spectrometry is utilized in various applications, including target identification, validation, and lead optimization. Mass spectrometry allows researchers to analyze proteins and peptides with high sensitivity and accuracy, facilitating the understanding of protein structures, functions, and interactions.
By employing mass spectrometry for protein sequencing, pharmaceutical and biotechnology companies can gain insights into the biological processes associated with diseases, discover potential therapeutic targets, and evaluate the efficacy and safety of drug candidates. This drives the extensive adoption of mass spectrometry in the pharmaceutical industry, leading to the dominant market share of the pharmaceutical and biotechnology companies segment in 2022.
Report Scope and Segmentations:
Estimated Forecast Year
CAGR of 5% from 2023 to 2031
By Technology, By Application, By End User, By Region
- Gas Chromatography
- Liquid Chromatography
- Matrix-Assisted Laser Desorption
- Time-of-Flight Mass Spectrometry (TOF-MS)
- Quadrupole Mass Spectrometry
- Ion Trap Mass Spectrometry
- Hybrid mass spectroscopy
- Life Science Research
- Drug Discovery
- Environmental Testing
- Food Testing
- Applied Industries
- Clinical Diagnostics
By End User
- Research and Academic Institutions
- Pharmaceutical and Biotechnology
- Contract Research Organizations (CROs)
- Hospitals and Clinical
- Food and Beverage
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
The North American market is expected to hold the largest share of this market during the forecast period. The high level of research and development (R&D) spending in the United States reflects the country's commitment to innovation and technological advancements. The substantial investment in R&D is crucial for driving scientific discoveries, technological breakthroughs, and economic growth. It enables the development of new products, processes, and services, and contributes to the competitiveness of industries.
According to the Industrial Research Institute (IRI) report, the United States spends the world’s highest (USD 516 billion) amount for research and development.
Investing 43% of the total life sciences/healthcare R&D spending and 56% of pharmaceutical/biotech R&D spending worldwide highlights the United States' leadership in these critical sectors. The country has a robust ecosystem of pharmaceutical and biotech companies, academic research institutions.
Europe plays a significant role in the global market, including the field of research and development (R&D). The region's substantial market size of around 2 billion USD in 2019, which is projected to reach 3 billion USD by 2027 with a compound annual growth rate (CAGR) of 7.2%, demonstrates its importance and growth potential.
Mass Spectrometer Market Report is also available for below Regions and Country Please Ask for that
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Points Covered in the Report:
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
The report will cover the qualitative and quantitative data on the global mass spectrometer market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Key Reasons to Purchase:
To gain insightful analyses of the Mass Spectrometer market and have comprehensive understanding of the global market and its commercial landscape.
Assess the production processes, major issues, and solutions to mitigate the development risk.
To understand the most affecting driving and restraining forces in the market and its impact in the global market.
Learn about the Mass Spectrometer market strategies that are being adopted by leading respective organizations.
To understand the future outlook and prospects for the Mass Spectrometer market. Besides the standard structure reports, we also provide custom research according to specific requirements.
Research Scope of Mass Spectrometer Market:
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2031
- Representation of Market revenue in USD Million
Mass Spectrometer Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: