The global mass spectrometry market was valued at $4,948.3 million in 2015, and it is expected to grow at a CAGR of 8.1% during the period 2016 - 2022.
The global market is increasing, due to increasing food safety concern, growing demand in life science and clinical analysis sector, and increasing healthcare expenditure and development of healthcare infrastructure. In addition, the technological advancements with advent of mass spectrometry equipment are further encouraging the growth of the market.
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Based on platform, the hybrid mass spectrometry segment accounted for the largest share during the forecast period. Among the various end-users, the pharmaceutical segment accounted for the largest share in the global market in 2015; and the segment is expected to grow at 8.8% CAGR during 2016 – 2022.
The demand for mass spectrometry is growing rapidly in life science and clinical sector. Some of its most common applications in life science and clinical studies are determination of protein structure, interactions and folding; protein identification from the mass of its peptide fragment; relative or absolute quantification of proteins in a given sample; monitoring of enzyme reactions; chemical modifications; protein digestion; forensic analysis; and disease biomarkers detection. All these applications are very vital in life science and clinical studies; and with increasing healthcare awareness, advanced research and development, increasing cases of drug abuse, and high number of metabolic diseases, the demand for mass spectrometer is rapidly growing.
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However, the lack of skilled professionals act as major restraints in the growth of the global market. In addition, the high cost mass spectrometry equipment is further restraining the growth of the market. The Asian market is expected to witness the fastest growth, at a CAGR of 8.7% during the period 2016 – 2022.
The key companies operating in the global mass spectrometry market include Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd.
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