The global next generation mass spectrometer market achieved a valuation of approximately USD 1,901.7 million in 2022 and is poised for substantial growth in the coming years. With rapid technological advancements in the field of spectrometry, including the development of miniaturized spectrometers, the market is expected to experience a compound annual growth rate (CAGR) of 7.2% between 2022 and 2032, potentially reaching around USD 4,097.1 million by the end of the forecast period.
Key Market Drivers
Technological Advancements:
The significant growth in the next generation mass spectrometer market can be attributed to ongoing innovations in spectrometry. The emergence of miniaturized spectrometers is transforming various industries by enabling more precise and efficient analyses in diverse applications, including pharmaceuticals, environmental testing, and clinical diagnostics.
Increased Demand for Analytical Solutions:
As industries continue to prioritize precision and efficiency in their analytical processes, the demand for advanced mass spectrometry solutions is rising. Next generation mass spectrometers are crucial for providing high-resolution data and accurate results, driving their adoption across various sectors.
Market Outlook
The next generation mass spectrometer market is on a promising trajectory, with increasing investments in research and development further propelling market growth. The demand for enhanced analytical capabilities is expected to bolster the expansion of this market, making it a vital component in advancing scientific research and industrial applications.
Projections indicate a robust Compound Annual Growth Rate (CAGR) of 7.2% between 2022 and 2032, forecasting a substantial market expansion to reach approximately US$ 4,097.1 Million by the end of 2032. This sustained growth signifies a burgeoning market landscape and a testament to the increasing adoption of advanced analytical technologies globally.
The report underscores the pivotal role of these technological breakthroughs in driving the market’s revenue growth. Miniaturized spectrometers, in particular, have emerged as a game-changer, facilitating enhanced precision and efficiency in various applications.
In next generation mass spectrometer hardware are designed to move fragile molecules into a gaseous ionized state where the molecules are consequently analyzed. As next generation mass spectrometer include matrix- assisted laser desorption/ionization (MALDI), electrospray ionization and surface- enhanced laser desorption/ionization (SELDI).
In addition, the next generation mass spectrometer has morphed from a cumbersome and costly machine. Furthermore, the next generation mass spectrometer is used for predicting a patient`s recovery after surgery and profiling immune system response.
Global Next Generation Mass Spectrometer Industry: Drivers and Restraints
The key factor responsible for growth of next generation mass spectrometer market is increasing in government outlay in the life science industries and increasing research and development in the pharmaceutical industries.
In addition, increasing food concern, demand in the fields of agriculture and medical research, enabling innovative diagnosis, new drug development for diseases and competitive post sale and maintenance services led to increase adoption of next generation mass spectrometer.
However, the significantly high cost of instrument and the lack of skilled person to operate next generation mass spectrometer are some of the key restraints in the Global Next Generation Mass Spectrometer Industry.
Global Next Generation Mass Spectrometer Industry: Overview
Based on application, the market is segmented into Pharmaceuticals, biotechnology, medical research, food and beverages testing and others. Among these segment, pharmaceutical industries having a wide scope of the next generation mass spectrometer due to increase in the cases of adulterated food, drug safety and new drug development for diseases.
In addition, medical research has also fueled the growth of global next generation mass spectrometer. Based on end user, the market is segmented into hospitals, research centers and diagnostic laboratories. Next generation mass spectrometer is most widely used among research centers and diagnostic laboratories across the globe.
Global Next Generation Mass Spectrometer Industry: Regional Overview
Region wise, the Global Next Generation Mass Spectrometer Industry is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, and Middle East and Africa. North America expected to dominate the global next generation mass spectrometer due to increase in the government investments in biomedical and biotechnology areas.
In addition, increase research in the field of pharmaceutical industries and medical field is also supporting the growth of global next generation mass spectrometer in the region. Similarly, due to increasing number in conferences, manufacturing and research facilities of companies in the Asia –Pacific excluding Japan market are expected to boost the growth of the next generation mass spectrometer market over the forecast period.
Global Next Generation Mass Spectrometer Industry: Key Players
The key players in the market are Waters Corporation, Thermo Fisher Scientific, Inc., AB Sciex Pte. Ltd., Bruker Corporation, Shimadzu Corporation, anaher Corporation, PerkinElmer, Rigaku, Bio-Rad Laboratories, Jeol Ltd and Agilent Technologies. Most of the next generation mass spectrometer market are adopting acquisition and merger as a key strategy for the business growth.
Key Segments of Next Generation Mass Spectrometer Industry Survey
Global Next Generation Mass Spectrometer Industryby Application:
- Next Generation Mass Spectrometers for Pharmaceuticals
- Next Generation Mass Spectrometers for Biotechnology
- Next Generation Mass Spectrometers for Medical Research
- Next Generation Mass Spectrometers for Food and Beverage Testing
- Next Generation Mass Spectrometers for Other Applications
Global Next Generation Mass Spectrometer Industry by End User:
- Next Generation Mass Spectrometers for Hospitals
- Next Generation Mass Spectrometers for Research Centers
- Next Generation Mass Spectrometers for Diagnostic Laboratories
Global Next Generation Mass Spectrometer Industry by Region:
- North America Next Generation Mass Spectrometer Market
- Latin America Next Generation Mass Spectrometer Market
- Europe Next Generation Mass Spectrometer Market
- Asia Pacific Next Generation Mass Spectrometer Market
- Middle East & Africa Next generation mass spectrometer Market
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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