The global mass spectrometry market was valued at $4,948.3 million in 2015, and is expected to grow at a CAGR of 8.1% during the forecast period (2016–2022). Increasing food safety concerns, rising healthcare expenditure, and growing technological advancements are some major factors for the growth of the market. Moreover, increasing emphasis on the good manufacturing practice (GMP) and good distribution practice (GDP) certifications is also likely to positively impact the market growth in the coming years.
Insights into market segments
Based on end user, the mass spectrometry market is classified into pharmaceuticals, life sciences and biotechnology, academic and research institutes, hospitals, and others. Among these, the pharmaceutical companies as an end-user category will occupy the largest market share by 2022.
The mass spectrometry market is classified into hybrid, single, and other mass spectrometry, based on platform. Of these, the hybrid category is expected to account for the largest market share by 2022.
Increasing demand for mass spectrometry in life sciences applications to drive the market growth
Mass spectrometry is vastly utilized in various life sciences applications, such as determination of protein structure, protein identification from mass of peptide fragment, relative or absolute quantification of proteins in a sample, monitoring of enzyme reactions, chemical modifications, protein digestion, disease biomarkers detection, and forensic analysis. Increasing research and developments activities in these application areas are also expected to generate high demand for mass spectrometry products in the coming years. Further increasing incidence of metabolic diseases also tends to support the growth of the mass spectrometry market.
Further, increasing food and safety concerns are also an important factor for the growth of the mass spectrometry market. Government organizations as well as food manufacturing companies are highly utilizing mass spectrometry for the detection of microorganisms to ensure that the quality of food is maintained.
Mass Spectrometry Market Competitive Landscape
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. are some major players operating in the global mass spectrometry market.
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MASS SEPCTROMETRY MARKET SEGMENTATION
Market Segmentation by Platform
Market Segmentation by Application
Market Segmentation by End User
Market Segmentation by Geography