Mass Spectrometry Market worth $5.9 Billion by 2018

Thursday 20 March 2014, Amsterdam

This report studies the global mass spectrometry market over the forecast period of 2013 to 2018. The market was estimated at $3.9 billion in 2013 and is expected to reach $5.9 billion by 2018, growing at a CAGR of 8.7% from 2013 to 2018.

This report covers the definition, description, and forecast of the mass spectrometry market in terms of technologies and applications. Based on technologies, the mass spectrometry market comprises Tandem LC/MS, LC/MS-Time of Flight, MALDI-TOF, Single Quadrupole, Fourier Transform MS, Gas Chromatography/MS, and others. The applications market is categorized into pharmaceuticals, biotechnology, industrial chemistry, environmental testing, food and beverage testing, and others.

Over the years, the demand for mass spectrometry has increased significantly owing to the increasing use of mass spectrometry technologies to address the growing concerns in food safety and the increasing number of government funds and spending on research. The technological advancements and breakthroughs in the field of mass spectrometry such as increased speed, higher accuracy, improved resolution, and miniaturization are expected to drive the global market in the coming years. These advancements have increased the applications for the technology while enabling laboratories worldwide to improve their productivity and efficiency. The other factors that are driving the growth of the global market include the increasing use of mass spectrometry in proteomics and the increasing usage amongst emerging nations.

North America dominated the global mass spectrometry market in 2013, followed by Europe and Asia. The North American market is likely to be driven by factors such as the increasing number of government investments in pharmaceutical, biotechnology, medical, and academic research studies that make use of mass spectrometry techniques. On the other hand, Asia is expected to grow at the highest CAGR due to the presence of high-growth markets such as India and China, the improved funding scenario in this region, increasing number of conferences and exhibitions on mass spectrometry, and increased focus of the giant players in these countries.

Danaher Corporation (U.S.), Waters Corporation (U.S.), Agilent Technologies (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Bruker Corporation (U.S.), Bio-Rad Laboratories (U.S.), PerkinElmer (U.S.), Rigaku (Japan), Jeol Ltd. (Japan), and Shimadzu Corporation (Japan) are some of the prominent players in the global mass spectrometry market.