Mass Spectrometry Market Analysis Insights by Latest Trends, Future Growth, Revenue and Demand

Mass spectrometry (MS) is an analytical technique that is used to measure the mass-to-charge ratio of ions. This technique basically studies the effect of ionizing energy on molecules. It depends upon chemical reactions in the gas phase in which sample molecules are consumed during the formation of ionic and neutral species. A mass spectrometer generates multiple ions from the sample under investigation, it then separates them according to their specific mass-to-charge ratio (m/z), and then records the relative abundance of each ion type. The results are presented as a mass spectrum, a plot of intensity as a function of the mass-to-charge ratio. It determines and identifies quantities of a compound within a sample, and it can also identify traces of components at minute concentrations. It is utilized both quantitatively and qualitatively to detect unknown compounds and calculate isotopic composition of a particular element in a molecule. It can also be used to observe fragments of a compound to determine its structure.

List of Key Players

• Agilent Technologies, Inc.
• Danaher Corporation
• Waters Corporation
• Bruker Corporation
• Thermo Fisher Scientific, Inc.
• Perkinelmer, Inc.
• Shimadzu Corporation.
• Kore Technologies, Ltd.
• Hiden Analytical
• Leco Corporation

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Key Findings Of The Study

• Depending on technology, the hybrid mass spectrometry segment held 55% share in the global mass spectrometry market in 2020.
• By application, the pharma segment accounted for the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, Asia-Pacific is expected to exhibit highest CAGR of 8.50% during the forecast period.

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By application, the pharmaceuticals segment dominated the market in 2020, and is expected to rise in prevalence of chronic disease, advancement in research activities for drug development, and surge in need for metabolite screening analysis. The increase in prevalence of chronic disease, surge the need for new drug candidate and propel the growth of the mass spectrometry market.

In 2020, North America accounted for highest contribution of about $2,389.42 million to the total revenue generated, owing to the technological advancements in spectrometry techniques and integration of advanced hardware and software processes in spectrometry devices. However, Asia-Pacific is expected to witness the highest CAGR of 8.50% during the analysis period, attributable to increase in demand for advanced MS devices along with surging awareness.

The COVID-19 outbreak has impacted the global mass spectrometry market positively. There has been a high demand for multiple spectrometers from the biotechnology and pharmaceutical industries due to the COVID-19 driving market. By 2020, in India, researchers at the Delhi-based Institute of Genomics and Integrative Biology (IGIB) and the National Center for Disease Control (NCDC) were able to find a novel coronavirus (COVID-19) with 95% sensitivity and 100% precision with respect to RT-PCR using a mass spectrometer. In April 2020, UK diagnostics firm MAP Sciences announced the development of a rapid test for the COVID-19 virus. This technology uses multiple spectrometry to detect different proteins in COVID-19 and is intended to deliver test results within 30 minutes. These developments are expected to foster the growth of the mass spectrometry market.

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