Mass Spectrometry Market size worth $ 7,597.17 Million, Globally, by 2028 at 6.40% CAGR: Verified Market Research®
Increasing demand for automation in diagnostic techniques is expected to drive the growth of the Mass Spectrometry Market. Mass spectrometry helps with a variety of diagnostic analyses, and research in functional genomics, metabolomics, and proteomics
JERSEY CITY, N.J., Nov. 24, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Mass Spectrometry Market" By Platform (Single Mass Spectrometry, Hybrid Mass Spectrometry), By Application (Pharmaceutical and Biotechnology, Food and Beverage Testing, Environmental Testing), and By Geography. According to Verified Market Research, the Global Mass Spectrometry Market size was valued at USD 4,551.27 Million in 2020 and is projected to reach USD 7,597.17 Million by 2028, growing at a CAGR of 6.40% from 2021 to 2028.
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Global Mass Spectrometry Market Overview
The R&D expenditure of pharmaceutical companies has increased considerably over the last 20 years. Analysis activities within the pharmaceutical and biotechnology industries are driven by investments in key areas, such as biopharmaceuticals and personalized medication. In step with the 2018 EU Industrial R&D Investment Scoreboard, the pharmaceutical and biotechnology sector amounts to 18.9% of total global R&D expenditure. Mass spectrometry plays a key role within the pharmaceutical industry, from the early stages of drug discovery to late-stage development and clinical trials. Thus, increasing funding within the pharmaceutical and biotechnology industry is anticipated to drive the expansion of the mass spectrometry market.
A driver of growth will be the increasing demand for automation in diagnostic techniques and the need for a cost-effective platform for sample analysis. This has motivated manufacturers to focus on product development and innovations. In addition, increasing funding in the pharmaceutical and biotechnology industry is expected to drive the growth of the mass spectrometry market. Mass spectrometry plays a key role in the pharmaceutical industry, from the early stages of drug discovery to late-stage development and clinical trials. Thus, increasing funding in the pharmaceutical and biotechnology industry is expected to drive the growth of the market. Moreover, technological breakthroughs in mass spectrometers are expected to drive market trends. Advance technologies such as ion mobility spectrometry and capillary electrophoresis are used to separate complex biological mixtures, such as derived peptide products Additionally, miniaturization is expected to propel the growth of this market.
The major players in the market are Shimadzu Corporation, Agilent Technologies, PerkinElmer, Thermo Fisher Scientific, Bruker, Leco Corporation, Waters Corporation, Sciex (Danaher), and the rest others.
Verified Market Research has segmented the Global Mass Spectrometry Market On the basis of Platform, Application, and Geography.
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