Mass Spectrometry Market Accounted For USD 9,697.0 Million By 2030

Posted by Neha Bora on March 10th, 2023

San Francisco, 10 March 2023: The Report Mass Spectrometry Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables & Services), By Technology, By Application (Proteomics, Metabolomics), By End-use, By Region, And Segment Forecasts, 2023 - 2030

The global mass spectrometry market size is projected to reach USD 9,697.0 million by 2030, at a CAGR of 8.06% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding early detection of chronic and infectious diseases and emerging technological advancements in diagnostic instruments are expected to significantly drive the market growth. In addition, there has been an increase in demand for cost-effective and automated techniques for disease diagnosis which is anticipated to increase the demand for mass spectrometry techniques and positively affect the growth.

The COVID-19 pandemic has boosted the demand for vaccine development due to recent advancements in virology-based research. Here, mass spectrometry has applications for the study of viral structure for SARS-CoV-2. The technique can also be used to study complex protein structures and protein-protein interactions associated with the virus. Hence, various pharmaceutical and biotechnology companies involved in COVID-19 vaccine and drug development efforts are anticipated to increase the demand for instruments and consumables.

In addition, various academic institutions and companies are indulging in product development strategies to support the demand for mass spectrometry from the proteomic market. For instance, in September 2022, the director of Northwestern’s Proteomics Center of Excellence published a paper on the development of a new imaging approach to enhance the identification of intact proteoforms. The team of researchers has built a Proteoform Imaging Mass Spectrometry (PiMS) system which is anticipated to assist mass spectrometry in various applications, including the detection of novel biomarkers, mapping of molecular tissue, and improvement in disease diagnosis.

Similarly, in October 2022, Thermo Fisher Scientific, Inc. announced the launch of mass spectrometry consumables and instrument that allows end-users in proteomics and biopharma to achieve significant breakthroughs. The instrument, known as Thermo Scientific Orbitrap Ascend Tribrid mass spectrometer, provides a new capability to direct multiple ions and enables to gain deeper insights into samples, along with rapid detection.

Access Research Report of Mass Spectrometry Market @ https://www.grandviewresearch.com/industry-analysis/mass-spectrometry-market

Mass Spectrometry Market Report Highlights

• The instruments segment held the largest revenue share of 77.39% in 2022. This instrument segment drives the mass spectrometry industry as spectrometers offer a wide range of applications in the biotechnology sector for diagnostics and drug development
• Quadrupole liquid chromatography-mass spectrometry dominated the market in 2022 with a share of 37.09%. This is due to the significant advantages in accuracy and in-depth analysis offered by the technology
• By application, proteomics accounted for the largest share of 46.69% in 2022. The rising prevalence of infectious disease globally and efficient testing alternatives offered by mass spectrometry-based diagnostic techniques are driving the segment
• North America held the largest revenue share of 41.94% in 2022, due to the presence of an established healthcare sector and key players such as Thermo Fisher Scientific, Inc.; Agilent Technologies, Inc.; Bruker Corporation; Danaher Corporation, and others in the region
• The pharmaceutical and biotechnology companies segment held the largest revenue share of 43.98% in 2022. This is due to the rapid increase in research and development activities in recent years

List of Key Players in the Mass Spectrometry Market

• Thermo Fisher Scientific, Inc.
• Agilent Technologies, Inc.
• Danaher Corporation
• Waters Corporation
• Bruker Corporation
• Shimadzu Corporation
• PerkinElmer, Inc.
• Rigaku Corporation
• LECO Corporation
• JEOL Ltd.

 Access Press Release of Mass Spectrometry Market @ https://www.grandviewresearch.com/press-release/global-mass-spectrometry-market