SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global liquid chromatography mass spectrometry market is expected to be valued at US$ 3,683.7 million in 2019, and is expected to exhibit a CAGR of 12.0% over the forecast period (2019 – 2027).
Key Trends and Analysis of the Liquid Chromatography Mass Spectrometry Market:
Key trends in the market are increasing research and development expenditure in the healthcare sector, and rising number of clinical trials.
Increasing research and development expenditure in the healthcare sector is one of the major factors that is expected to drive the market growth. For instance, according to the Pharmaceutical Research and Manufacturers of America (PhRMA), 2016, pharmaceutical and biotechnology companies invested an estimated US$ 58.8 billion in research and development in 2015, which was majority of all biopharmaceutical R&D spending in the U.S.
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Market players are focused on product development and launches, in order to expand their offerings in the global market, which, in turn, is expected to drive growth of the global liquid chromatography mass spectrometry market, For instance, in June 2019, AB Sciex LLC, a subsidiary of Danaher Corporation, launched Triple Quad 5500+ LC-MS/MS System – QTRAP Ready for offering advanced solutions to pharmaceutical, life science research, and other fields. The system is developed by combining triple quadrupole and QTRAP functionality, which offers optimal quantification and data extraction from the sample.
Furthermore, key players operating in the market are focused on acquisitions and collaborations, in order to enhance their product offerings. For instance, in February 2019, Waters Corporation entered a partnership with Andrew Alliance S.A., a robotics company that develops innovative products for better performance and enhanced speed of liquid handling. This partnership is expected to improve laboratory operations in the field of liquid chromatography and mass spectrometry for elevating product development.
Key Market Takeaways:
- The liquid chromatography mass spectrometry market is expected to exhibit a CAGR of 12.0% during the forecast period (2019 – 2027), owing to increasing product launches, and advantages offered by mass spectrometry over conventional immunoassays. For instance, in September 2017, SCIEX Diagnostics, a division of AB Sciex LLC subsidiary, launched Topaz LC-MS/MS System for clinical diagnostics in Europe. The system allows clinical laboratories to extend their testing services, and support patient care.
- Increasing healthcare expenditure is a major factor which is expected to drive the market growth. For instance, according to the Healthcare Expenditure Statistics by Eurostat published in January 2017, the healthcare expenditure for laboratory and clinical testing increased by 9.1% in Croatia, 10.3% in Estonia, 10% in Cyprus, 11.2% in Latvia, and 12.3% in Czech Republic from 2014.
- Key players operating in the global liquid chromatography mass spectrometry market include Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc.
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Global Liquid Chromatography Mass Spectrometry Market, By Type:
- Single Quadrupole LC-MS
- Triple Quadrupole LC-MS
- Ion Trap LC-MS
Global Liquid Chromatography Mass Spectrometry Market, By Sensitivity:
- High Flow
- Micro Flow
- Nano Flow
Global Liquid Chromatography Mass Spectrometry Market, By End User:
- Biotechnology and Pharmaceutical Industry
- Hospital and Research Laboratories
- Academic and Research Institutes
Global Liquid Chromatography Mass Spectrometry Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
1. Clinical Mass Spectrometry Market –
This report segments the global clinical mass spectrometry market on the basis of product type, application, and end user. On the basis of product type, the market is segmented into gas chromatography–mass spectrometry-(GC MS) instrument, liquid chromatography–mass spectrometry-(LC MS) instrument, maldi TOF mass spectrometer, capillary electrophoresis–mass spectrometry, and ion mobility spectrometry-mass spectrometry.
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2. Liquid Chromatography Market –
Liquid chromatography can be used for analytical and preparative applications such as food supplement and pharmaceutical or bio therapeutic. One of the advanced forms of liquid chromatography is the high-performance liquid chromatography (HPLC) for ultra-trace separations with high sensitivity and accuracy, thereby augmenting the market growth.
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