Mass spectrometer market growth to be driven by the life sciences sector

Market - Mohit Shah - May 05,2017

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mass spectrometer market growth to be driven by the life sciences sector

Technological advancements have led to the rising demand for mass spectrometry in a number of high scope applications; the mass spectrometer market to grow at a CAGR of 8.1% during 2016-2024.

The mass spectrometer market is getting augmented through a variety of factors. Looking at the topmost reason, the surge in the rate of technological advancements is enhancing the applications for newer equipment connected to mass spectrometry. Moreover, the inclusion of the MALDI-IMS and HRAM systems which tend to reduce analysis time and boost analysis accuracy, are viewed as the important drivers for the market.

As per the recent market research report offered by Transparency Market Research (TMR), the mass spectrometer market at the global scale is expected to expand at a CAGR of 8.1% during the forecast period from 2016 to 2024. Interestingly, the stats suggest that the market would be valued at US$9.99 bn as 2024 concludes. This advancement can be credited to the growing use of mass spectrometry equipment in the examination of fundamental chemical processes along with the rising application in the field of life sciences and drug discovery.

Looking at the product types, the global mass spectrometer market highlights liquid chromatography-mass spectrometer (LC-MS), matrix associated laser desorption or ionization-time of flight (MALDI-TOF), gas chromatography-mass spectrometer (GC-MS) and inductively coupled plasma-mass spectrometer (ICP-MS). Out of all these varieties, the MALDI-TOF equipment segment occupied 30% of the demand in the year 2015. Also, in the coming years, this segment is anticipated to stay most profitable.

Moreover, the prime application of mass spectrometry targets the biotechnology industry, pharmaceutical industry, food and beverage industry, industrial chemistry and environmental testing. The prominent companies from the mass spectrometer market include Shimadzu Corporation, Thermo Fisher Scientific and Waters Corporation.

However, the market for mass spectrometer might face some sort of hindrance due to the heavy investment required for research and development together with the high cost of the equipment.


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