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By 2024 , Mass Spectrometer Market To Grow at a CAGR of 8.1%

Of the top drivers currently augmenting the global mass spectrometry market, the leading one is the surge in the rate of technological advancements that are creating a high scope of applications for newer equipment. This includes the inclusion of t
With a highly consolidated nature, the global mass spectrometry market was led by Agilent
Technologies, Thermo Fisher Scientific, Inc., and Shimadzu Corporation in 2015. Their collective
share in the market’s value for the year was close to 49%, revealing a very low scope of growth for
smaller players at the current rate.
According to a research publication released by Transparency Market Research, the global mass
spectrometry market will be showing a strong sense of competitive rivalry, especially among the
leading entities. The overall number of players in the global mass spectrometry market is small and
their relative market share is very large. Their established presence is expected to stifle the entry of
new players into the global mass spectrometry market. The production of new mass spectrometry
equipment is, however, being contended by the growing availability of refurbished ones. This
applies more so to the developing economies where the cost of purchasing new equipment can be
too high.
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The global mass spectrometry market is expected to reach US$9.99 bn by the end of 2024, after
expanding at a healthy CAGR of 8.1% within a forecast period from 2016 to 2024. The market’s
value was calculated to reach US$5.35 bn at the end of 2016. North America is expected to generate
a massive revenue for the global mass spectrometry market owing to its booming biotech industry.
Advancements in Mass Spectrometry Open New Doors
“What drives the global mass spectrometry market at the present moment is the original scope of
application of these systems, coupled with the new possibilities that are entering the market
simultaneously. One of the more recent examples of technological advancements in mass
spectrometry is the adoption of matrix-associated laser desorption ionization imaging mass
spectrometry, or MALDI-IMS. This system allows for the examination and analysis of tissues from
a diagnostic perspective and thus reduces the overall time required for complete analysis of the
sample. Another recent development is the high-resolution accurate mass system, which can detect
as well as deliver simultaneously a higher resolution of the full product ion spectrum and mass
accuracy. These systems are expected to usher in a new era of mass spectrometry,” states a TMR
The global mass spectrometry market is also being driven by the growing use of these equipment in
the industries of pharmaceuticals, life sciences, and other clinical analytics. On the competitive side,
the market is being favored in overall growth by the significant mergers and acquisitions that have
occurred over the past decade, which includes the acquisition of Active Spectrum, Inc., by Bruker.
High Equipment Costs Reduce Production Rates
One of the key restraints affecting the global mass spectrometry market currently, is the high cost of
it research and development it takes to generate newer technologies in the market. This not only
severely limits the entrance of new players into the market, but also creates a sizeable barrier of
pricing for several buyers from emerging economies. Their reluctance to buy newer technologies is
leading to the growth of refurbished mass spectrometry equipment, which not only reduces the
overall profits that key players in the market make, but also reduces the investments they can make
into advanced development of equipment.
“Despite the given restraints, research and development is still likely to be the way to go for the
global mass spectrometry market, when it comes to improving the scope of opportunities in the
future. The developments in continuous flow technologies have, for instance, created the space for
new devices to enter the market that are significantly more efficient than their predecessors. The
players from the global mass spectrometry market can also find a greater scope of opportunities in
the emerging economies from Asia Pacific and Latin America – specifically Brazil – to improve
their sales figures,” adds the analyst.
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trend analysis provides forward-looking insight for thousands of decision makers. TMR’s
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always reflects the latest trends and information. With extensive research and analysis capabilities,
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