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Mass Spectrometry Market

P&S Market Research-Mass Spectrometry Market report

Global Mass Spectrometry Market Size, Share, Development, Growth and Demand Forecast to 2022 – Industry Insights by Platform (Hybrid, Single and Other), by Application (Drug Discovery and Development, Proteomics, Clinical Testing, Environment and Others), by End Users (Pharmaceuticals, Life Science and Biotechnology, Academic and Research Institute, Hospitals and Others)

Published: May 2016
Report Code: LS10291
Available Format: pdf
Pages: 160

The global mass spectrometry market accounted for $4,948.3 million revenue in 2015, and it is expected to grow at a CAGR of 8.1% during 2016-2022. The hybrid mass spectrometry segment accounted for largest share in the global mass spectrometry market in 2015; whereas, among the various end-users, the pharmaceuticals segment accounted for the highest share in the global market in the same year. The global mass spectrometry market is witnessing high growth rate, due to the growing food safety concerns, increasing healthcare expenditure, and technological advancements in mass spectrometers. Also, the new International GMP and GDP certification for pharmaceutical excipients is further propelling the growth of the global mass spectrometry market.

 

Mass Spectrometry Market

Pharmaceutical products comprise different excipients (average over 80% of medicinal product). These excipients are key ingredients to ensure the safety of patients. Therefore, The International Pharmaceutical Excipients Council (IPEC) Federation along with European Fine Chemical Group, European Association of Chemical Distributors (FECC), and Pharmaceutical Quality Group (PQG) worked together to develop certification scheme for excipient suppliers – EXCiPACT. IPEC Federation is a global organization consisting of regional associations organized to promote quality in pharmaceutical excipients. These organisations have formulated the legislation requiring excipient good manufacturing practice (GMP) and good distribution practice (GDP) certification. It advocates the usage of mass spectrometry to screen impurities in the pharmaceutical excipients

The increasing food safety concern is propelling the growth of the global mass spectrometry market. Food safety and quality is an important public health issue. The increasing presence of toxins, chemicals, and pathogens in food is a major concern for individuals these days. Food contamination can originate from many sources, and food safety is affected by the quality of the water used in processing and production of food. The detection of microorganisms in food is essential for quality control and food safety plan. Both government authorities and food companies use microbiological analysis to monitor contamination and analyze its trends to detect emerging risks. Thus, the increasing concern for food safety would increase the demand for mass spectrometry equipment, in order to maintain the quality of food.

The healthcare expenditure is also increasing worldwide, due to increasing incidences of diseases and innovation of new medical treatments. The healthcare cost is high due to use of expensive new technologies and drugs, increased cost of healthcare goods and services, high administrative cost, growing geriatric population and physician fees. According to the WHO, the total healthcare expenditure is increasing globally, which is leading to the improvement in healthcare infrastructure. This increase in healthcare expenditure leads to increase in affordability and accessibility of the new test and treatment for various conditions.

The various restraints impacting the growth of the global market include the high cost of mass spectrometry equipment. Furthermore, lack of skilled professionals is further hampering the growth of the market.

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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