The global mass spectrometer market is likely to expand at a CAGR of 7.8% between 2019 and 2026. The mass spectrometer instrument together with chromatography calculates the analytical mass of a particular molecule. The report predicts the global mass spectrometer market was valued at US$ 5,512.2 Mn in the year 2018 and is anticipated to reach US$ 10,044.7 Mn by 2026. —
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Market in North America Continues to Lead Owing to Presence of Key Players in the U.S.
Among regions, the market in North America is expected to maintain its dominance through the forecast period. Moreover, the regional market was valued at US$ 2,126.7 Mn in the year 2018. Presence of recognized key players and technological advancements are creating lucrative opportunities for the market. Governments in this region are granting funds to research institutes working on in mass spectrometry, which will further increase the mass spectrometer market share in North America.
This funding is for conducting biomedical research and this is another factor responsible for the high growth of the market in this region. A report by the Industrial Research Institute (IRI) finds that the U.S. is the only country in the world who spends aggressively on research and development activities.
Mass Spectrometer to Offer High-Resolution Analytical Data Owing to Technological Advancements
“Increasing research and development (R&D) activities are likely to increase the dependency on accurate and high-resolution data experiments,” said a lead analyst at Fortune Business Insights. “Mass spectrometer detectors have the ability to offer precise results, which is why key players encourage customers to opt for this equipment,” he added. Another factor driving the market is the increasing number of concerns related to food safety.
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Owing to recent technological advancements in mass spectrometry, the demand from biotechnology and pharmaceutical industries is expected to increase. These advancements now offer better and high-resolution test results. The rising demand for tandem and hyphenated techniques, especially from biotechnology, food and beverages, and pharmaceutical industry is driving the market. The mass spectrometer miniaturization leads to the higher adoption of mass spectrometer equipment. All the above-mentioned factors are likely to be beneficial for the growth of the market.
Joel Launches a Novel Mass Spectrometer System to Expand its Product Line
Shimadzu Corporation, PerkinElmer Inc., WATERS, Thermo Fisher Scientific Inc., Bruker, AB Sciex, Agilent Technology, LECO, JEOL USA, and Advion, Inc. are some of the leading players in the global mass spectrometer market. Of these, companies such as SCIEX, Shimadzu, Waters, and Agilent are leading the market owing to their well-recognized brand presence. In addition to this, a robust distribution networking channel is another factor behind the success of these four players.
Several companies are involved in strategic decisions to expand their market share. One of them is associated with new product launches. Some of the product launches are mentioned below:
• Agilent Technologies a mass hybrid mass spectrometer system in April 2019. The system called 6546 quadrupole time-of-flight LC/MS will offer accurate analytical data with high resolution.
• Joel USA launches a quadrupole mass spectrometer system called GC-triple in March 2019. The aim of this product launch is to expand the company’s product line for mass spectrometers.
• Thermo Scientific joined hands with HighChem in June 2018 to develop Orbitrap ID-X Tribrid Mass Spectrometer. This spectrometer analyses small molecules and gathers meaningful data.
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TABLE OF CONTENT:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Technological Advancements
4.2. Key Industry Developments - Mergers, Acquisitions, and Partnerships, 2018
4.3. Introduction of new products / approvals (by major players)
4.4. Overview of Regulatory Scenario - Key Countries
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