Fort Collins, Colorado, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The Mass Spectrometry (MS) Market size was valued at USD 4.9 Billion in 2022 and is expected to reach a market size of USD 10.3 Billion by 2032 at a CAGR of 7.8%.
Mass spectrometry is a clinical tool to analyze protein, DNA, and large biomolecule accuracy levels. Preliminarily, it is used in identifying drug structures in biological systems. It is a key factor in the research and development in these domains. The growing demand for new product research and commitment to developing human-safe products are expected to drive the mass spectrometry market in the forecast period.
In the food sector, mass spectrometry is used to study the nutritional value and profile of macronutrients (proteins, lipids, and carbohydrates) and micronutrients (vitamins) in food samples. It is also used to identify unwanted components and contaminants, ensuring packaged food products' safety. Key trends such as growing consumer demand for organic food, plant-based meat, dairy alternatives, and plant-based beverages are expected to drive food industry growth over the next few years.
Rapid growth in pharmaceutical research, earlier dominated by European R&D, has shifted to China, South Korea, and the US. The United Nations International Development Organization is focused on promoting local pharmaceutical production. A survey conducted by Thermo Fisher Scientific in 2022 revealed a few challenges and opportunities in pharmaceutical R&D. As per the survey, several clinical operations have prioritized digital systems such as digital assessments, virtual pre-site selection, and utilizing wearable data collection methods.
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Segmentation Overview:
The global mass spectrometry market has been segmented into technology, application, end-use, and region. End-use segmentation comprises pharmaceuticals, academia, and food & beverages. The pharmaceutical industry is undergoing significant transformation due to the advancements in NGS informatics and customized drug delivery systems. Personalized medicine has garnered significant traction, paving the way for metabolomics in diagnosing new diseases.
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Mass Spectrometry Market Report Highlights:
- The global mass spectrometry market growth is anticipated at a CAGR of 7.8% by 2032.
- The growing use of mass spectrometry for research and development across the food and beverage industry and healthcare is projected to drive market growth in the forthcoming period.
- Artificial intelligence (AI), digital health, and automation are marking the presence across the value chain of pharmaceutical R&D.
- Europe is a leading region with the world’s top pharmaceutical producers and exporters in Germany, Switzerland, the UK, Belgium, France, and Italy. According to The European Federation of Pharmaceutical Industries and Associations (EFPIA), Europe was the second largest market, accounting for a 23% share of pharmaceutical sales in 2021.
- Some prominent players in the mass spectrometry market report include Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, Sciex (part of Danaher Corp.), Leco Corp., and Shimadzu Corp.
Industry Trends and Insights:
- Waters Corporation also invested in inorganic expansion by acquiring the MS assets of Megadalton Solutions, Inc. in 2022.
- Agilent Technologies acquired Advanced Analytical Technologies, Inc., strengthening its genomics position.
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Mass Spectrometry Market Segmentation:
By Technology: Hybrid [Triple Quadrupole (Tandem), Quadrupole TOF (Q-TOF), Fourier Transform Mass Spectrometry (FTMS)], Single [Ion Trap, Quadrupole, Time of Flight (TOF), Others].
By Application: Proteomics and Metabolomics.
By End-use: Pharmaceuticals, Academia, and F&B.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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