The global mass spectrometry market is anticipated to grow at a CAGR of 7.30% between 2019 and 2027, along with generating revenue of $7466 million. It is an analytical procedure that identifies and determines numbers of a composite within a sample, and it can also recognize dashes of components at minute concentrations.

The global mass spectrometry market is primarily driven by factors as follows:

• Increase in the awareness and usages of mass spectrometry
• Growth of the biopharmaceutical industry
• Surge in R&D activities
• Emergence of metabolomics
• Usage in nanoparticles industry
• Technological advancement in mass spectrometry

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The important drivers influencing the growth in the global mass spectrometry market are the increase in the awareness and usages of mass spectrometry and growth of the biopharmaceutical industry. Mass spectrometry instruments have a wide application base, and the awareness regarding the benefits offered by these instruments is on the rise. The use of these instruments in clinical sciences for preclinical tests of newfound drugs prior to their administration to humans has gained popularity over the years. Also, mass spectrometry is one of the key factors driving the growth of the biopharmaceutical industry.

The applications of mass spectrometry market are used extensively for various purposes. Mass spectrometers are massively utilized in the pharmaceuticals industry for various applications from primary phases of drug discovery through final stages of development and clinical trials. Mass spectrometers cover a wide range of biomedical applications and have become an important tool in biotechnology. Mass spectrometers are widely being used for various industrial applications; for instance, in the petrochemical industry, it is used for the analysis of hydrocarbons and related compounds. Mass spectrometers offer comprehensive analysis for wide-ranging varieties of food & beverage products. Also, along with traditional mass spectrometers, hybrid spectrometry devices are utilized for environmental testing. Hybrid mass spectrometers such as GC-MS are used for geological research to identify petroleum components and carbon dating.

The high cost of equipment and fast-moving technological advancements that increase the cost of biopharmaceutical are the major factors hindering the global mass spectrometry market. The high cost of spectrometers can slow down the growth of the market in developing and underdeveloped areas as even commercial buyers would be incapable of purchasing such equipment. Complexities and cost of biopharmaceutical research have increased, which is hampering the research and development process.

The global mass spectrometry market segments include technology and applications.

Technology is segmented into:

• Hybrid mass spectrometry
  • Triple quadruple (tandem)
  • Quadruple TOF (Q-TOF)
  • FTMS
• Single mass spectrometry
  • Ion trap
  • Quadruple
  • Time-of-Flight (TOF)
• Other technology

Applications are segmented into:

• Pharmaceuticals
• Biotechnology
• Industrial Chemistry
• Environmental Testing
• Food & Beverage Testing
• Other Applications

This report covers the present market conditions and the growth prospects of the global mass spectrometry market for 2019-2027 and considered the revenue generated through the sales of mass spectrometry for technology and applications to calculate the market size by considering 2018 as the base year.

Geographically, the global mass spectrometry market has been segmented on the basis of four major regions, which include:

• North America: The United States and Canada
• Asia-Pacific: China, India, Japan, Australia, South Korea & Rest of Asia Pacific
• Europe: The United Kingdom, France, Germany, Italy, Spain & Rest of Europe
• Rest of World: Latin America & Middle East and Africa

The mass spectrometry market in North America is expected to hold the largest share by 2027. Presence of economically and technologically developed countries has made it a crucial market for spectrometry devices. Market healthy environment has flourished many leading healthcare companies in this region. The North America mass spectrometry market constitutes approx. 40% share. The strong economy, the presence of major market players, and advanced analytical systems enable the U.S. to be the market leader in this region. On the other hand, the Asia-Pacific market is anticipated to be the fastest-growing region for the mass spectrometry market. With a major focus on the manufacturing industry and increasing influence & investment from western countries, South-East Asian countries exhibit high potential for the mass spectrometry market. Increase in development, availability of sufficient funds from foreign investment, and government initiatives make the Asia Pacific one of the fastest-growing market in the world.

The mass spectrometry market is segmented based on technology which is sub-divided into hybrid mass spectrometry, single mass spectrometry, and other technology. Hybrid mass spectrometry combines numerous mass-analyzer components to achieve maximum performance in a single test. Hybrid mass spectrometry comprises of Triple Quadruple (Tandem), Quadrupole TOF (Q-TOF), and FTMS. Single mass spectrometry is used for the analysis of very big heterogeneous objects that cannot be evaluated by traditional assessment methods. Single mass spectrometry is sub-divided into ION Trap, Quadruple, and Time-of-Flight (TOF).

The major market players of the global mass spectrometry market are:

• Agilent Technologies, Inc.
• Bruker Corporation
• Hiden Analytical
• PerkinElmer, Inc.
• Danaher Corporation

Company Profiles covers the analysis of important players.

Agilent technology’s applied and life science markets segment offers liquid chromatography systems and components, gas chromatography systems and components, liquid chromatography-mass spectrometry systems, microwave plasma-atomic emission spectrometry instruments, plasma optical emission spectrometry instruments, atomic absorption instruments, plasma mass spectrometry instruments, laboratory automation and robotic systems, vacuum pumps, dissolution testing, and measurement technologies. Danaher Corporation designs manufacture and markets professional, medical, industrial, and commercial products & services.

Key findings of the global mass spectrometry market are:

• Hybrid mass spectrometry is the majorly used mass spectrometry technology
• Food & beverage testing is the fastest growing mass spectrometry application