Austin, Unites States, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Mass Spectrometry Market Analysis:
“According to SNS Insider, The Mass Spectrometry Market Size was valued at USD 5.76 billion in 2023 and is projected to achieve remarkable USD 11.25 billion by 2032, growing at a CAGR of 7.74% during the forecast period of 2024-2032.”
This growth is driven by the increasing application of mass spectrometry in various industries, including pharmaceuticals, healthcare, environmental analysis, and food safety. The market's expansion is also attributed to advancements in instrument sensitivity, resolution, and automation, alongside an increasing emphasis on research and development (R&D) activities.
Market Overview
Mass spectrometry (MS) has become an essential analytical technique for a variety of applications, including proteomics, metabolomics, clinical diagnostics, and environmental analysis. Its ability to measure the mass-to-charge ratio of ions enables the identification and quantification of various compounds with high precision, which is crucial for industries that require detailed and accurate molecular data.
The demand for mass spectrometers is increasing due to their growing use in pharmaceutical research, where they are used for drug discovery, biomarker identification, and clinical testing. Environmental testing has also driven the market, particularly in monitoring pollutants such as per- and polyfluoroalkyl substances (PFAS) and trace elements. Furthermore, the rise in demand for food safety testing and the increasing complexity of biological samples have bolstered the need for more advanced mass spectrometry solutions.
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Key Mass Spectrometry Companies Profiled:
- Thermo Fisher Scientific
- Agilent Technologies
- SCIEX
- Waters Corporation
- Bruker Corporation
- Shimadzu Corporation
- PerkinElmer
- Rigaku Corporation
- LECO Corporation
- JEOL Ltd.
- Hiden Analytical
- MKS Instruments
- Others
Mass Spectrometry Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 5.76 Billion |
| Market Size by 2032 | US$ 11.25 Billion |
| CAGR | CAGR of 7.74% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Product
Hybrid Mass Spectrometry Instruments (including Quadrupole ToF and Triple Quadrupole) dominated the market in 2023, contributing to nearly 48.0% of the total revenue. These instruments offer high accuracy, sensitivity, and versatility, which makes them indispensable for a wide range of applications, including proteomics, clinical diagnostics, and pharmaceutical R&D. Hybrid mass spectrometry systems provide superior resolution and mass accuracy, which are essential for analyzing complex biological samples and detecting low-abundance compounds.
The software & services segment is the fastest-growing category, driven by the increasing use of data-intensive techniques such as high-throughput screening and multi-omics studies. These techniques require sophisticated software solutions to manage large datasets, optimize data interpretation, and improve instrument efficiency. Additionally, demand for services such as maintenance, training, and consulting is rising as more laboratories and research institutions adopt mass spectrometry technologies.
By Sample Preparation Technique
The LC-MS (Liquid Chromatography-Mass Spectrometry) segment held the largest share in 2023, accounting for 52.0% of the market. This technique is favored for its ability to analyze non-volatile and thermally labile compounds, making it ideal for applications in pharmaceuticals, environmental testing, and food safety. LC-MS is essential for detecting contaminants and ensuring compliance with stringent regulatory standards in industries such as food and pharmaceuticals.
ICP-MS (Inductively Coupled Plasma Mass Spectrometry) is the fastest-growing sample preparation technique, owing to its high precision in detecting trace elements and isotopes. ICP-MS has critical applications in environmental testing, toxicology, and metal analysis in biological samples. With advancements in sensitivity and automation, ICP-MS is seeing increasing adoption in sectors that require precise detection of low-concentration elements.
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Mass Spectrometry Market Key Segmentation:
By Product
- Instruments
- Hybrid Mass Spectrometry
- Triple Quadrupole
- Quadrupole ToF (Q-ToF)
- Single Mass Spectrometry
- Quadrupole
- Time-Of-Flight (ToF)
- Ion Trap
- Software & Services
By Sample Preparation Technique
- GC-MS
- LC-MS
- ICP-MS
- Others
By Application
- OMICS Research (Genomics, Proteomics and Metabolomics)
- Drug Discovery
- Environmental Testing
- Food Testing
- Pharma-Biopharma Manufacturing
- Clinical Diagnostics
- Applied Industries
- Other
By End User
- Pharmaceutical Companies
- Biotechnology Companies
- Research Labs & Academic Institutes
- Environmental Testing Labs
- F&B Industry
- Forensic Labs
- Petrochemical Industry
- Other
Regional Analysis
North America remained the dominant region in the mass spectrometry market, capturing a significant portion of the market share in 2023. This is largely due to the extensive use of mass spectrometry in the pharmaceutical, biotechnology, and environmental sectors. The United States, in particular, is home to numerous pharmaceutical giants, research institutions, and environmental regulatory agencies, driving the demand for advanced mass spectrometry solutions. The market in North America is expected to maintain steady growth, fueled by continued investments in R&D and the adoption of next-generation mass spectrometry technologies. Companies such as Thermo Fisher Scientific, Agilent Technologies, and SCIEX are leading the market in North America, offering a wide range of mass spectrometry instruments and software solutions. These companies are continuously innovating to meet the growing demands for precision and speed in drug discovery, clinical diagnostics, and environmental monitoring.
The Asia-Pacific (APAC) region is the fastest-growing market for mass spectrometry, driven by increasing industrialization, rapid advancements in research, and the growing adoption of analytical instruments across various sectors. The region is witnessing significant investments in healthcare, environmental monitoring, and food safety testing, all of which drive demand for mass spectrometry solutions. Countries such as China, Japan, and India are emerging as key players in the APAC market, with a high concentration of manufacturing facilities, research institutions, and healthcare providers.
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Recent Developments in the Mass Spectrometry Market
In November 2024 – Researchers at the University of Massachusetts developed a groundbreaking method for detecting per- and poly-fluoroalkyl substances (PFAS) in water, utilizing advanced mass spectrometry techniques. This innovation aims to enhance environmental testing and ensure compliance with increasing regulatory standards for PFAS contamination in water.
In August 2024 – A team at Caltech introduced an innovative fingerprint mass spectrometry method to enhance proteomics. This new technique provides a more detailed and precise analysis of complex proteomes, which could lead to improved diagnostics and treatments for various diseases.
In July 2024 – Thermo Fisher Scientific launched the Orbitrap Exploris 240, a next-generation hybrid quadrupole-Orbitrap mass spectrometer. This system offers enhanced resolution and sensitivity for applications in drug discovery, clinical diagnostics, and proteomics.
The mass spectrometry market is evolving rapidly with new technologies that cater to a wide range of industries, including pharmaceuticals, environmental testing, and food safety. As regulatory requirements tighten and demand for high-resolution analytical solutions grows, the market is set for continued growth.
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