Mass Spectrometer Market: Strong Application,Emerging Trends And Future Scope By 2019 - 2027

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The global mass spectrometer market was valued at US$ 5,874.7 Mn in 2018 and is anticipated to register a stable CAGR of more than 7% during the forecast period 2019 to 2027, according to a new report published by Transparency Market Research (TMR) titled “Mass Spectrometer Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.” Growth in the pharmaceutical and life science markets, rise in demand for clinical analysis, increase in mergers and acquisitions, and increase in food and beverage testing has increased the penetration and growth of the mass spectrometer market globally.
Increasing Usage of Matrix-Assisted Laser Desorption Ionization Time-of-Flight Mass Spectrometer (MALDI-TOF MS) is Expected to Drive Growth of the Mass Spectrometer Market
The global mass spectrometer market by product type is segmented broadly into five major segments, namely gas chromatography-MS, liquid chromatography-MS, MALDI-TOF, ICP-MS (inductively coupled plasma-mass spectrometry) and others. In terms of revenue, MALDI-TOF was the largest contributor to the market, followed by liquid chromatography-MS in 2017 due to the growing adoption of MALADI-ToF mass spectrometer as it offers accurate mass measurements and reduced time for analysis.
Rise in Adoption of Mass Spectrometer in Pharmaceuticals to Drive the Market Growth
Mass spectrometer is a powerful analytical tool for both quantitative and qualitative applications. Mass spectrometers are increasingly used in the field of pharmaceuticals as it offers new instrumentation and ionization techniques that can be used to solve various difficult bio analytical problems, thereby driving the growth of the mass spectrometer market globally.
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Mass spectrometer is used for the optimization and monitoring of fundamental chemical processes used in the manufacture of various pharmaceutical and life science products. In 2017, the pharmaceuticals segment accounted for the largest market share. Biotechnology segment is also expected to expand at a significant CAGR throughout the forecast period. Mass spectrometry is becoming popular in biotechnology applications. Mass spectrometer provides accurate measurements and real-time information regarding culture respiration and the availability of nutrients.
Growing Adoption of Mass Spectrometer due to Technological Advancements in Laboratory Equipment and Growth in the Pharmaceuticals Industry in China, India, Israel, South Africa, and Taiwan to Create More Market Opportunities
Geographically, the global mass spectrometer market is divided into five major geographical regions. These include North America, Europe, Asia Pacific, South America, and Middle East & Africa. In 2017, North America was the topmost revenue generating region followed by Europe. This is mainly attributed to growth in demand for mass spectrometers in the pharmaceutical industry in the U.S. and Canada. The U.S. held highest market share in 2017 in North America and is estimated to expand at the highest CAGR during the forecast period. The market in Europe is anticipated to grow at a significant CAGR during the forecast period due to high penetration of mass spectrometers in industrial and non-industrial research sectors. 

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