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Global Mass Spectrometry Market Outlook to 2024 - Growing Opportunities in Emerging Markets
DUBLIN, Dec. 2, 2019 /PRNewswire/ -- The "Mass Spectrometry Market by Platform (Hybrid Mass Spectrometry (Triple Quadrupole, QTOF, FTMS), Single Mass Spectrometry (Quadrupole, TOF, Ion Trap)), Application (Pharma & Biotech, Environmental & Food Testing) - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The mass spectrometry market is projected to reach USD 6,313.7 million by 2024 from USD 4,569.1 million in 2019, rising at a CAGR of 6.7%.
The major players in the market include SCIEX (US), Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), Hiden Analytical (UK), Kore Technology (UK), Extrel CMS (US), MassTech (US), AMETEK Process Instruments (US), MKS Instruments (US), Advion (US), and FLIR Systems (US).
The mass spectrometry market is projected to grow at a CAGR of 6.7% during the forecast period
The technological advancements in mass spectrometers is driving the growth of the market. Government initiatives for pollution control and environmental testing, increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, growing focus on the quality of food products, and increase in crude and shale gas production are also supporting the growth of this market. However, the dearth of skilled professionals and the high cost of instruments may restrain the market to a certain extent during the forecast period.
The hybrid mass spectrometry segment is projected to dominate the mass spectrometry products market during the forecast period
The mass spectrometry products market has been segmented into hybrid mass spectrometry, single mass spectrometry, and other platforms. The hybrid mass spectrometry segment further includes triple quadrupole, quadrupole TOF, and Fourier transform mass spectrometry devices, while the single mass spectrometry segment includes single quadrupole, Time of Flight (TOF), and ion trap spectrometers.
The hybrid mass spectrometry segment held the largest share of this market in 2018 and is also estimated to grow at the highest CAGR during the forecast period. Hybrid mass spectrometers are technologically enhanced instruments that comprise a combination of two mass spectrometry platforms as compared to a single platform in single MS and hence provide higher accuracy, sensitivity, and efficiency in testing.
The pharmaceutical & biotechnology applications segment held the largest market share in 2018
By application, the mass spectrometry market is segmented into pharmaceutical & biotechnology applications, environmental testing, food & beverage testing, petrochemical applications, and other applications. The pharmaceutical & biotechnology applications segment accounted for the largest share of this market in 2018. The large share of this segment can be attributed to the growing research in proteomics and metabolomics and the rise in demand for pharmaceutical biosimilars, phytopharmaceuticals, and regenerative medicine.
The North American mass spectrometry market is expected to hold the largest market during the forecast period
North America, Europe, Asia Pacific (APAC), and the Rest of the World. The North American market is expected to hold the largest share of this market during the forecast period. The growing funding for research and government initiatives in the US, widespread usage of mass spectrometry in the metabolomics and petroleum sector, and CFI funding towards mass spectrometry projects in Canada are the key factors driving the North American mass spectrometry market.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Market Overview
4.2 Europe: Market, By Platform & Country (2019)
4.3 Market Share, By Platform, 2019 vs 2024
4.5 Market: Geographic Growth Opportunities
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Mass Spectrometers
5.2.1.2 Government Initiatives for Pollution Control and Environmental Testing
5.2.1.3 Increasing Spending on Pharmaceutical R&D
5.2.1.4 Government Regulations on Drug Safety
5.2.1.5 Growing Focus on the Quality of Food Products
5.2.1.6 Increase in Crude and Shale Gas Production
5.2.2 Restraints
5.2.2.1 High Cost of Mass Spectrometry Systems
5.2.3 Opportunities
5.2.3.1 Growing Opportunities in Emerging Markets
5.2.4 Challenges
5.2.4.1 Dearth of Skilled Professionals
6 Market, By Platform
6.1 Introduction
6.2 Hybrid Mass Spectrometry
6.2.1 Triple Quadrupole
6.2.1.1 Triple Quadrupole Mass Spectrometry Segment Dominates the Hybrid Mass Spectrometry Market
6.2.2 Quadrupole TOF (Q-TOF)
6.2.2.1 Growing Use of Q-TOF in Metabolomics Research & Drug Development in the Pharmaceutical Industry to Drive Market Growth
6.2.3 Fourier Transform Mass Spectrometry (FTMS)
6.2.3.1 FTMS Enables the High-Resolution Analysis of Biomolecules
6.3 Single Mass Spectrometry
6.3.1 Quadrupole
6.3.1.1 Quadrupole Spectrometry is Useful When Studying Particular Ions of Interest
6.3.2 Time-Of-Flight (TOF)
6.3.2.1 TOF is Rapidly Becoming the Most Popular Method of Mass Separation for Proteomics and Conventional Analytical Chemistry
6.3.3 Ion Trap
6.3.3.1 Ion Trap Spectrometry Offers High Sensitivity, Robustness, and Rapid Identification of Low-Level Components in Complex Matrices
6.4 Other Platforms
7 Market, By Application
7.1 Introduction
7.2 Pharmaceutical & Biotechnology
7.2.1 Pharmaceutical & Biotechnology Forms the Largest Application Segment of the Market
7.3 Environmental Testing
7.3.1 Growing Pollution Levels & Rising Environmental Awareness to Drive the Growth of This Application Segment
7.4 Food & Beverage Testing
7.4.1 Growing Food Safety Concerns to Support Market Growth
7.5 Petrochemicals
7.5.1 Growing Number of New Oil & Gas Fields - Major Driver for This Application Segment
7.6 Other Applications
8 Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 The US Holds the Largest Share of the North American Market
8.2.2 Canada
8.2.2.1 Funding for Innovation-Based Research Will Propel the Market in Canada
8.3 Europe
8.3.1 Germany
8.3.1.1 Growth of the German Cosmetics Industry Will Aid the Growth of Its Market
8.3.2 UK
8.3.2.1 Rising Food Safety Concerns to Drive Market Growth in the UK
8.3.3 France
8.3.3.1 Strong Perfume Industry and the Growing Number of Pharma Startups Will Drive the Demand for Mass Spectrometry
8.3.4 Italy
8.3.4.1 Italy Showcases A Favorable Scenario for the Biotech and Pharma Industry
8.3.5 Spain
8.3.5.1 Spain's Strong Food & Beverage Industry Will Aid the Adoption of Mass Spectrometers
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 Rising Player Attention on China Will Ensure Market Growth in the Coming Years
8.4.2 Japan
8.4.2.1 Availability of Funding for Mass Spectrometry Projects and Growing Food Safety Concerns are Driving Market Growth
8.4.3 India
8.4.3.1 Stringent Environmental Monitoring Regulations in India to Boost the Use of Mass Spectrometry
8.4.4 Southeast Asia
8.4.4.1 Expanding Footprint of Market Leaders in Malaysia and Singapore Will Aid Market Growth in Southeast Asia
8.4.5 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.1.1 Growing Biotechnology and Pharmaceutical Industries to Support Market Growth in Latin America
8.5.2 Middle East & Africa
8.5.2.1 Strong Oil & Gas Industry and Rising Awareness on Food Safety have Drawn Company Focus to the Mea
9 Competitive Landscape
9.1 Introduction
9.2 Market Share Analysis
9.3 Competitive Leadership Mapping (Overall Market)
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Emerging Companies
9.3.4 Dynamic Differentiators
9.4 Competitive Leadership Mapping (Emerging Players)
9.4.1 Progressive Companies
9.4.2 Starting/Emerging Blocks
9.4.3 Responsive Companies
9.4.4 Dynamic Companies
9.5 Competitive Scenario
9.5.1 Product Launches
9.5.2 Agreements & Collaborations
9.5.3 Acquisitions
9.5.4 Expansions
10 Company Profiles
10.1 Thermo Fisher Scientific
10.2 Sciex (A Subsidiary of Danaher)
10.3 Agilent Technologies
10.4 Waters Corporation
10.5 Shimadzu Corporation
10.6 Bruker
10.7 Perkinelmer
10.8 Jeol
10.9 Flir Systems
10.10 Mks Instruments
10.11 Analytik Jena (a Subsidiary of Endress+Hauser)
10.12 Hiden Analytical
10.13 Dani Instruments
10.14 Rigaku
10.15 Leco
10.16 Kore Technology
10.17 Extrel CMS
10.18 Masstech
10.19 Ametek Process Instruments
10.20 Advion
For more information about this report visit https://www.researchandmarkets.com/r/ewsgq3
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