Mass Spectrometry Market | Key Growth Factors Analysis
Posted by Dheeraj Shaha on July 4th, 2019
The overall mass spectrometry market is expected to grow from USD 3.44 billion in 2016 to USD 5.27 billion by 2022, at a CAGR of 7.4%.
Mass spectrometry is an analytical technique used to measure known materials, to identify unknown compounds within a sample, and to evaluate the structure and chemical properties of different molecules. The technique ionizes chemical species and sorts the ions, based on their mass-to-charge ratio. Because of the high sensitivity of these techniques, mass spectroscopy has become a powerful analytical tool for testing in various industries.
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Mass Spectrometry Market, along with revenue estimates & forecasts and market share analysis.
Moreover, the study showcases back-to-back parameters like application, improvement, product growth, and diverse structures & key processes. The report highlights the in-depth analysis of various critical parameters such as profit & loss statistics, product value, production capability, production process, and many more.
Factors such as technological advancements in mass spectrometry, government initiatives for pollution control and environmental testing, increasing spending on pharmaceutical R&D across the globe, growing petrochemical industry, and growing focus on ensuring the quality of food products are expected to drive the growth of this market.
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Mass Spectrometry Market Segmentation:
1. By Platform
2. By Application
3. By Region
The Major Players Opearting in the Mass Spectrometry Market:
Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), and SCIEX (Subsidiary of Danaher) (US) are the key players in the mass spectrometry market.
Sciex under Danaher Corporation (US) dominated the mass spectrometry market in 2016. The company provides a wide range of mass spectrometry technologies, accessories, and software in the mass spectrometry market. These products find application in a range of industries including pharmaceuticals, environmental agencies, food & beverage, petroleum industry, and research laboratories. To maintain its leading position and increase its customer base in the mass spectrometry market, the company mainly focuses on expanding its market presence by enhancing its product development capabilities and product launches & enhancements.
Geographical Analysis Of Mass Spectrometry Market:
The mass spectrometry market in North America is expected to grow at the highest CAGR during the forecast period. North America is the fastest-growing market for mass spectrometry. The key factors influencing the growth of this market include the growing funding for environmental testing in the US, widespread usage of mass spectrometry in the pharmaceutical sector, growing food safety concerns in the US, and government initiatives to improve lab infrastructure and propel fundamental scientific research in Canada.
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