Global Mass Spectrometry Market: Technological breakthroughs in the mass spectrometers are expected to drive the market trends.

The mass spectrometry market is expected to grow from USD 4.1 billion in 2020 to USD 5.6 billion by 2027, at a CAGR of 6.5 % during the forecast period. Mass spectrometry is a technique which is used in the identification of various platforms of chemical present in the sample. It is also used in the quantification of amount of specific chemical in the sample. Mass spectrometry is very common technique in analytical laboratories which helps in the study of biological and chemical properties of compounds. In life science area, mass spectrometry is primarily involved in the characterization and sequencing of proteins. It identifies and quantities crucial proteins involved in disease and altered phenol platforms and recognized diagnostic biomarkers for treatment.

Massive use of mass spectrometry method in producing pharmaceuticals and biotechnology will chart a profitable growth graph of the mass spectrometry market over the forecast timeframe. Apart from this, huge focus on research activities in healthcare sector and surge in the contract research organizations across the globe is anticipated to create lucrative growth avenues for the industry over the forthcoming years. Moreover, technological breakthroughs in the mass spectrometers are expected to drive the market trends. Nonetheless, high cost of mass spectrometry techniques and surge in the use of some of the analytical tools as substitute for mass spectroscopy is likely to impede the expansion of the market in the years ahead.

In recent time, increasing government spending in life science research and increased R&D spending in pharmaceutical industry are some of the major drivers of global mass spectrometry market. In addition, growing food concerns in food and beverages industry has also fuelled the growth of global mass spectrometry market. Moreover, technological advancement in mass spectrometry also attracts end users to adopt the technology.

However, high cost of instruments is key restraint of global mass spectrometry market. In addition, lack of skill labour to operate expensive instruments also obstructs the growth of global mass spectrometry market. Increasing mergers and collaborations between key players is key trend of the global mass spectrometry market.

Some of the major companies operating in the global mass spectrometry market are Danaher Corporation, Shimadzu Corporation. Waters Corporation, Thermo Fisher Scientific, Inc., Bruker Corporation, PerkinElmer, Rigaku, Bio-Rad Laboratories, Jeol Ltd. and Agilent Technologies.

In terms of geographic, North America dominates the global mass spectrometry market. This is due to increased government investments in biotechnology and biomedical areas. In addition, increased research in the field of proteomics is also supporting in the growth of mass spectrometry in the region. The U.S. represents the largest market for mass spectrometry techniques followed by Canada in North America. In Europe, France, Germany, Italy, Spain and the U.K. holds major share of mass spectrometry market. However, Asia is expected to show high growth rates in the next five years in global mass spectrometry market. This is due to many companies constructing their manufacturing and research facilities in the region. In addition, increasing number of conferences and exhibitions by manufacturing companies to promote mass spectrometry technology is also contributing in the growth of mass spectrometry market in the region. Japan, China and India are expected to be the fastest growing mass spectrometry markets in Asia.