What Transformation Has the Mass Spectrometry Market Undergone?
The mass spectrometry market has seen considerable growth due to a variety of factors.
•In recent years, the market size of mass spectrometry has seen robust growth. The market is anticipated to ascend from $6.65 billion in 2024 to $7.22 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.6%.
The historic growth can be credited to factors such as compliance to regulations, surge in research and development investments, rising demand in pharmaceutical and biotechnology sectors, environmental monitoring, and clinical diagnostics.
How Will The Mass Spectrometry Market Size Evolve In The Foreseeable Future?
The mass spectrometry market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for mass spectrometry is projected to witness swift expansion in the coming years. It is predicted to reach "$10.7 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.3%.
The upcoming growth can be credited to several factors such as rise in healthcare spending, widening use in food safety, adoption in developing markets, progress in precision medicine, and cross-sector partnerships. Key trends for the future involve improvements in ionization methods, an increasing part in food and beverage inspection, cooperation in multi-omics study, improved data availability and the use of cloud-based solutions.
Which Drivers Are Accelerating Growth In The Mass Spectrometry Market?
The growth of the mass spectrometry market is expected to be bolstered by the rising incidence of chronic illnesses. Chronic ailments are those conditions that typically persist for no less than three months and gradually deteriorate. Mass spectrometry methodologies are utilized for the detection, quantification, and examination of biomarkers and metabolites related to chronic illnesses. For example, the World Health Organization, a Swiss-based specialized agency of the United Nations, reported in September 2022 that 41 million deaths globally, or 74% of all deaths, are attributed to chronic or non-communicable diseases (NCDs) each year. The breakdown of these figures includes 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Moreover, the National Institutes of Health (NIH), an American biomedical research agency, projected in a 2023 report that by 2050, the number of individuals aged 50 and older living with at least one chronic ailment will increase to 142.66 million. Hence, the rise in chronic disease occurrence is fueling the expansion of the mass spectrometry market.
What Are The Core Segments Of The Global Mass Spectrometry Market?
The mass spectrometry market covered in this report is segmented –
1) By Technology: Hybrid Mass Spectrometry, Single Mass Spectrometry, Inductively Coupled Plasma Mass Spectrometry (ICP-MS)
2) By Application: Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics, Other Applications
3) By End User: Pharmaceutical Industry, Biotechnology Industry, Research And Academic Institutes, Environmental Testing Industry, Food And Beverage Testing Industry, Petrochemical Industry, Other End Users
Subsegments:
1) By Hybrid Mass Spectrometry: Quadrupole Time-of-Flight (QTOF), Orbitrap Mass Spectrometry, Triple Quadrupole Mass Spectrometry
2) By Single Mass Spectrometry: Time-Of-Flight (TOF), Quadrupole Mass Spectrometry, Ion Trap Mass Spectrometry, Inductively Coupled Plasma Mass Spectrometry (ICP-MS)
3) By ICP-MS: Quadrupole ICP-MS, Sector Field ICP-MS, High-Resolution ICP-MS
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Which Emerging Trends Are Reshaping The Mass Spectrometry Market Size?
The mass spectrometry market is witnessing an increase in popularity of the key trend of product innovation. The main companies in the mass spectrometry market are determined to create innovative products equipped with advanced features to consolidate their market position. Specifically, in June 2022, Agilent Technologies Inc., a company based in the US that offers instruments, software, services, and laboratory consumables, introduced LC/MS and GC/MS quadrupole mass spectrometers. The Agilent 6475 triple quadrupole LC/MS device is a sensitive, robust, and tough mass spectrometer equipped with a unique superheated Agilent Jet Stream (AJS) ion source, a curved and tapered collision cell, a ± 20 kV high-energy dynode detector system, and heated hyperbolic quadrupoles. The 6475 LC/TQ also provides early maintenance feedback, intelligent secondary injection workflows, and scheduled tune and check-tune.
Who Are the Key Players in the Mass Spectrometry Market?
Major companies operating in the mass spectrometry market include:
• Agilent Technologies Inc.
• Bruker Corporation
• JEOL Ltd.
• LECO Corporation
• PerkinElmer Inc.
• Shimadzu Corporation
• Thermo Fisher Scientific Inc.
• Waters Corporation
• AB Sciex Pte Ltd.
• Danaher Corporation
• Hitachi Ltd.
• Rigaku Corporation
• Advion Inc.
• AMETEK. Inc.
• Analytik Jena GmbH
• DANI Instruments S.p.A.
• Eurofins Scientific SE
• FLIR Systems Inc.
• MKS Instruments
• Elementar Analysensysteme GmbH
• Hiden Analytical Europe GmbH
• SPECTRO Analytical Instruments GmbH
• EXUM INSTRUMENTS INC.
• 908 Devices Inc.
• MassTech Inc.
• Newomics Inc.
• Microsaic Systems plc
• SCIEX AB
• Kore Technologies Ltd.
• IonSense Inc.
What are the Regional Insights into the Mass Spectrometry Market?
North America was the largest region in the mass spectrometry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the mass spectrometry market size forecast period. The regions covered in the mass spectrometry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
