Mass Spectrometer Market (Product Type: Liquid Chromatography, ICP-MS [Inductively Coupled Plasma-Mass Spectrometry], Gas Chromatography-MS, and MALDI-TOF)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Mass Spectrometer market size was valued at USD 6.9 billion in 2021 and is predicted to hit USD 13.18 billion by 2030 with a registered CAGR of 8.9% during the forecast period 2022 to 2030.

Mass spectrometer is an instrument used to identify unknown compounds via molecular weight determination to quantify or identify the known compounds from a given sample and determine the structure and chemical properties of molecules. The particles are ionized and beamed through electromagnetic fields and the way they are reflected indicates that these can be identified. The mass spectrometer market includes liquid chromatography, ICP-MS (inductively coupled plasma-mass spectrometry), gas chromatography, and MALDI-TOF. Mass spectrometer has applications in pharmaceuticals, biotechnology, industrial chemistry, environmental testing, and food & beverage testing.

Report Scope of the Mass Spectrometer Market

Increase in R&D Activities in Biotech and Pharma Industries to Boost Market

Funding in the pharmaceutical and biotechnology industry has increased. This trend is likely to continue in the near future, as various existing and new pharma and biotech companies are focusing on research and innovation of new techniques and tools such as mass spectrometers. For instance, Ion Mobility Mass Spectrometry (IMS-MS) is rapidly gaining attention for improving metabolomic, lipidomic, and proteomic analyses. Thus, rise in R&D expenditure is expected to drive the global market demand for mass spectrometer. Companies invest in key areas such as personalized medicine and biopharmaceuticals. They are also investing in innovative products such as mass spectrophotometer.

According to the Congressional Budget Office, a federal agency within the legislative branch of the U.S. Government, the pharmaceutical industry spent around US$ 83 Bn specifically on R&D in 2019. Moreover, according to information published by the EU industrial R&D investment scoreboard 2018, the pharmaceutical & biotechnology segment constitutes 18.9% of overall global R&D expenditure.

Surge in Adoption of Mass Spectrometers in Food & Beverage Industry to Drive Demand for Mass Spectrometers

Mass spectrometry is a versatile technology for the analysis of food and beverages combined with food contact materials such as packaging. It offers key advantages of high selectivity, sensitivity, and least response time. It enables direct molecular characterization of various raw food samples with minimal/no sample pre-treatment. Having the excellent specificity and sensitivity of analysis, it has been significantly used in food science and industries. Hazards ranging from heavy metals to pesticides and toxins can be identified using mass spectrometry, even if present in low quantity. In April 2019, Agilent Technologies, Inc., an analytical instrumentation development and manufacturing company, introduced a new mass spectrometry solution, ‘6546 quadrupole time-of-flight LC/MS system.’ This spectrometer enables rapid testing for food authenticity, with results that are easier and more convenient to check.

High Demand for Liquid Chromatography

In terms of product, the global mass spectrometer market has been classified into liquid chromatography, ICP-MS (inductively coupled plasma mass spectrometry), gas chromatography, and MALDI-TOF. The liquid chromatography segment accounted for large market share for mass spectrometer in 2021. The segment is expected to grow at a high CAGR from 2022 to 2031. Technological advancements in mass spectrometry, rise in demand for qualitative & quantitative analysis of the molecules used for drug discovery, and increase in analysis of contaminants in the environment & food are expected to drive the mass spectrometer market in the near future.

Growth in Usage of Mass Spectrometers in Production of Active Pharmaceutical Ingredients Augmenting Pharmaceuticals Segment

Based on application, key market segments in mass spectrometer are pharmaceuticals, biotechnology, industrial chemistry, environmental testing, and food & beverages testing. The pharmaceuticals segment held major share of the global market in terms of revenue in 2021. This trend is likely to continue during the forecast period. Rise in usage of mass spectrometers in the production of active pharmaceutical ingredients is a key factor propelling the segment.

Regional Outlook of Global Mass Spectrometer Market

North America dominated the global mass spectrometer market in 2020. The market in the region is mature and technically more developed compared to that in other regions. Additionally, rise in usage of spectrometers in various industries is fueling the market in the region. The market in Europe is anticipated to grow at a rapid pace during the forecast period. This is attributed to rise in research activities or research collaborations that enable the exchange of technical information among research scientists, industry professionals, and technical professionals. Technological innovations in new mass spectrometer devices is another factor boosting the market in Europe.

Asia Pacific is anticipated to be an emerging market for mass spectrometers during the forecast period. The region presents significant opportunities in the mass spectrometer market due to the increase in acceptance of these technological platforms across various fields.

Key Developments in Global Mass Spectrometer Market

• In April 2019, Agilent Technologies, Inc. announced a range of new mass spectrometry solutions designed to provide enhanced analytical and business outcomes for laboratories involved in multiple analytical pursuits, including environmental screening, metabolomics research, and food testing
• In September 2021, Thermo Fisher Company announced the official launch of the world’s first net-zero mass spectrometer. This product is the first spectrometer developed under the ground-breaking IsoFootprint initiative in order to tackle CO? emissions for more sustainable science. In June 2021, the company announced the official launch of the next-generation MS-based solution called Orbitrap IQ-X Tribrid mass spectrometer.
• In January 2021, Bruker Corporation announced the supply of NMR spectrometers for protein research to three world-leading institutions, which are accelerating their research into functional structural biology and human disease
• In February 2022, Waters Corporation announced the acquisition of charge detection mass spectrometry technology in order to strengthen its application in cell and gene therapy. The company acquired the intellectual property rights (IPR) technology assets of Megadalton Solutions, a notable player in the manufacture of charge detection mass spectrometry (CDMS).

Some of the prominent players in the Mass Spectrometer Market include:

• Bio-Rad Laboratories, Inc.
• Agilent technologies
• Thermo Fisher Scientific, Inc.
• Waters Corporation
• Shimadzu Corporation
• Bruker Corporation
• Sciex (Danaher Corporation)
• PerkinElmer, Inc.
• bioMerieux SA
• Charles River Laboratories International, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Mass Spectrometer market

• Product Type
• Liquid Chromatography-MS
• ICP-MS
• Gas Chromatography
• MALDI-TOF
• Others
• Application
• Pharmaceuticals
• Biotechnology
• Industrial Chemistry
• Environmental Testing
• Food & Beverage Testing
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Mass Spectrometer industry analysis from 2022 to 2030 to identify the prevailing Mass Spectrometer industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Mass Spectrometer industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Mass Spectrometer industry trends, key players, market segments, application areas, and market growth strategies.