Mass Spectrometry Market is Expected to Grow Rapidly in Upcoming Years!!!
The global mass spectrometry market is projected to reach USD 5.27 billion by 2022 from USD 3.68 billion in 2017, at a CAGR of 7.4%.
The report analyzes the mass spectrometry market and aims at estimating the market size and the future growth potential of this market based on various segments such as type of mass spectrometry on the basis of platform, application, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Factors such as technological advancements in mass spectrometry, government initiatives for pollution control and environmental testing, increasing spending on pharmaceutical R&D across the globe, growing petrochemical industry, and growing focus on ensuring the quality of food products are driving the growth of the mass spectrometry market.
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Objective of Mass Spectrometry Market Analysis Study:
To define, describe, and forecast the global mass spectrometry market with respect to platform, application, and region.
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
To analyze market opportunities for stakeholders and provide details of the competitive landscape of market leaders.
To forecast the size of the mass spectrometry market with respect to four main regions-North America, Europe, Asia Pacific, and the Rest of the World.
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share.
This Mass Spectrometry Market Analysis provides insights on the following pointers:
Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global mass spectrometry market
Market Development: Comprehensive information about the lucrative emerging markets by type of platform, application, and region
Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global mass spectrometry market.
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Mass Spectrometry In Pharmaceutical Application:
Based on application, the mass spectrometry market is segmented into pharmaceutical applications, biotech applications, environmental testing, food and beverage testing, petrochemical applications, and other applications. During the forecast period, the pharmaceutical application is expected to grow at the highest CAGR. This growth is mainly due to the growing uses of mass spectrometry in various stages of drug development and increasing R&D in pharmaceutical industries.
Hybrid Mass Spectrometry to Register High CAGR:
Among the various types of mass spectrometry the hybrid mass spectrometry segment is expected to register the highest CAGR of the global market during the forecast period. The wide applications of this technique coupled with the availability of technologically advanced products are driving the growth of this segment.
Mass Spectrometry in Life Science Industry:
The life sciences industry in countries such as the US and Canada is robust and is expected to contribute largely to the growth of the mass spectrometry market in the coming years. Also, rapid advances in technology have demonstrated the capability of high resolution mass spectrometry in various applications. With major applications of high resolution techniques such as time-of-flight, tandem, and orbitrap mass spectrometry in pharmaceuticals for drug screening and in environmental testing along with quality control of food and beverages, the demand for such high resolution mass spectrometry is expected to increase in the coming years.
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Geographic Segmentation Of Mass Spectrometry Market:
Geographically, the market in the North American region is expected to register the highest CAGR during the forecast period. Growth in this regional segment is due to factors such as growing biopharmacuetical and biotechnology research & development and availability of funding for innovation-based research. In the US the boom in oil and gas production from sources such as oil shale rocks provides opportunity for wide utilization of mass spectrometers throughout the process.