The mass spectrometry market was valued for $6.9 billion in 2022 and is estimated to reach $14.6 billion by 2032, exhibiting a CAGR of 7.7% from 2023 to 2032. Mass spectrometry (MS) is an analytical method used to determine and identify quantity of a compound within a sample, and traces of components by measuring the mass-to-charge ratio of its charged particles. It allows scientists and researchers to comprehensively catalogue sophisticated samples in a single analysis. In this process, initially the sample is ionized by loss of an electron. Then the ions are categorized and divided on the basis of their charge and mass, which are measured by use of a computer. The mass spectrometry is used in various fields such as life science, forensics, petroleum industry, and others.
The mass spectrometry market growth is driven by increase in need for modern healthcare technology, rise in R&D activities, and surge in awareness about food safety standards and detection of adulterants. Technological advancement in the mass spectrometry results in improved instrument performance and efficiency. This has led to increase in demand for technologically advanced mass spectrometers. For instance, in June 2023, Bruker Corporation, a global biotechnology research company, launched its new timsTOF Ultra Mass Spectrometer. This instrument incorporates a Captive Spray Ionization (CSI) Ultra ion source with a larger capillary and optimized vortex gas flow. This instrument analyzes the ultra-low sample amounts and also used to study immunopeptidomics, phosphoproteomics, PTM analysis, and others. Thus, technological advancement in the mass spectrometry is the key factor that drives the market growth.
Furthermore, surge in adoption of mass spectrometers in the food and beverage industries also drives the market growth. Growing insistence on detection and identification of food adulterants has increased the demand for mass spectrometry to identify these adulterants at every low concentration. For instance, mass spectrometer can detect mycotoxins produced by molds, in grains and cereals. In addition, this instrument can be operated in laboratories, research institutes, as well as in the industrial settings. However, high cost of mass spectrometry instruments negatively impacts the market growth. High cost of mass spectrometers as well as ongoing maintenance and other expenses, increase the overall cost and limit their adoption in the market, especially in smaller clinics or laboratories with limited budgets.
On the other hand, development of miniaturized mass spectrometers, which can be portable and easily accessible are expected to present wide opportunity for the market growth during the forecast period. Miniaturized spectrometers can be employed in point-of-care diagnostics and on-site analysis in various fields.
The mass spectrometry market is segmented on the basis of technology, application, and region. On the basis of technology, the market is classified into hybrid mass spectrometry, single mass spectrometry, and others. The hybrid mass spectrometry segment is further categorized into triple quadrupole, quadrupole TOF, and FT-MS. The single mass spectrometry segment is further divided into ION trap, quadrupole, and time of flight. On the basis of application, the market is segmented into pharmaceutical, biotechnology, industrial chemistry, environmental testing, food and beverage testing, forensic, clinical, and others.
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global mass spectrometry market are Thermo Fisher Scientific Inc., Agilent Technologies, Danaher Corporation, Waters Corporation, Bruker Corporation, Perkinelmer, Inc., Shimadzu Corporation, Kore Technologies, Ltd., Hiden Analytical, and Leco Corporation.
The mass spectrometry market growth is driven by increase in need for modern healthcare technology, rise in R&D activities, and surge in awareness about food safety standards and detection of adulterants. Technological advancement in the mass spectrometry results in improved instrument performance and efficiency. This has led to increase in demand for technologically advanced mass spectrometers. For instance, in June 2023, Bruker Corporation, a global biotechnology research company, launched its new timsTOF Ultra Mass Spectrometer. This instrument incorporates a Captive Spray Ionization (CSI) Ultra ion source with a larger capillary and optimized vortex gas flow. This instrument analyzes the ultra-low sample amounts and also used to study immunopeptidomics, phosphoproteomics, PTM analysis, and others. Thus, technological advancement in the mass spectrometry is the key factor that drives the market growth.
Furthermore, surge in adoption of mass spectrometers in the food and beverage industries also drives the market growth. Growing insistence on detection and identification of food adulterants has increased the demand for mass spectrometry to identify these adulterants at every low concentration. For instance, mass spectrometer can detect mycotoxins produced by molds, in grains and cereals. In addition, this instrument can be operated in laboratories, research institutes, as well as in the industrial settings. However, high cost of mass spectrometry instruments negatively impacts the market growth. High cost of mass spectrometers as well as ongoing maintenance and other expenses, increase the overall cost and limit their adoption in the market, especially in smaller clinics or laboratories with limited budgets.
On the other hand, development of miniaturized mass spectrometers, which can be portable and easily accessible are expected to present wide opportunity for the market growth during the forecast period. Miniaturized spectrometers can be employed in point-of-care diagnostics and on-site analysis in various fields.
The mass spectrometry market is segmented on the basis of technology, application, and region. On the basis of technology, the market is classified into hybrid mass spectrometry, single mass spectrometry, and others. The hybrid mass spectrometry segment is further categorized into triple quadrupole, quadrupole TOF, and FT-MS. The single mass spectrometry segment is further divided into ION trap, quadrupole, and time of flight. On the basis of application, the market is segmented into pharmaceutical, biotechnology, industrial chemistry, environmental testing, food and beverage testing, forensic, clinical, and others.
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global mass spectrometry market are Thermo Fisher Scientific Inc., Agilent Technologies, Danaher Corporation, Waters Corporation, Bruker Corporation, Perkinelmer, Inc., Shimadzu Corporation, Kore Technologies, Ltd., Hiden Analytical, and Leco Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mass spectrometry market analysis from 2022 to 2032 to identify the prevailing mass spectrometry market opportunities.
- 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 mass spectrometry market 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 spectrometry market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Technology
- Hybrid Mass Spectrometry
- Type
- Triple Quadrupole (Tandem)
- Quadrupole Tof (Q-TOF)
- FT-MS
- Single Mass Spectrometry
- Type
- ION Trap
- Quadrupole
- Time of Flight
- Others
By Application
- Pharmaceutical
- Biotechnology
- Industrial Chemistry
- Environmental Testing
- Food and Beverage Testing
- Forensic
- Clinical
- Other Applications
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Thermo Fisher Scientific Inc.
- Bruker Corporation
- Hiden Analytical Ltd.
- PerkinElmer, Inc.
- Waters Corporation
- Leco Corporation
- Agilent Technologies, Inc.
- Danaher Corporation
- Kore Technologies, Ltd.
- Shimadzu Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MASS SPECTROMETRY MARKET, BY TECHNOLOGY
CHAPTER 5: MASS SPECTROMETRY MARKET, BY APPLICATION
CHAPTER 6: MASS SPECTROMETRY MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Bruker Corporation
- Hiden Analytical Ltd.
- PerkinElmer, Inc.
- Waters Corporation
- Leco Corporation
- Agilent Technologies, Inc.
- Danaher Corporation
- Kore Technologies, Ltd.
- Shimadzu Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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