LONDON--(BUSINESS WIRE)--The global mass spectrometry market size is expected to grow by USD 2.17 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 7%. Request free sample pages
Read the 120-page report with TOC on "Mass Spectrometry Market Analysis Report by End-user (Pharmaceutical and biotechnology industries, Chemical and petrochemical industries, and Others) and Geographic Landscape (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/mass-spectrometry-market-industry-analysis
The market is driven by the rising focus on drug discovery and development. In addition, the increase in use of hyphenated technology is anticipated to boost the mass spectrometry market growth.
Factors such as high blood pressure, high blood cholesterol, obesity, lack of physical activity, unhealthy diet, and tobacco use can lead to major chronic diseases such as CVDs, cancer, chronic obstructive pulmonary disease, and type 2 diabetes. The rise in the prevalence of several chronic diseases around the world is encouraging pharmaceutical and biotechnology companies as well as research institutes to focus on drug discovery and development. This has increased R&D spending in the pharmaceutical industry for drug discovery and development among end-users. Consequently, the adoption of mass spectrometers is increasing as a robust and valuable tool for structure-based drug design. Mass spectrometers are used in conducting experiments and discovering high-affinity ligands for biologically related macromolecules. Thus, the rising focus on drug discovery and development is expected to drive market growth during the forecast period.
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Major Five Mass Spectrometry Market Companies:
Agilent Technologies Inc.
Agilent Technologies Inc. operates the business under various segments such as Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company offers Ultivo Triple Quadrupole LC/MS and 7250 GC/Q-TOF.
AMETEK Inc.
AMETEK Inc. offers products through the following business units: Electronic Instruments and Electromechanical. The company offers StreamPro Process Mass Spectrometer and ProLine Process Mass Spectrometers.
Bruker Corp.
Bruker Corp. operates under various business segments, namely Cognitive Solutions, Bruker Scientific Instruments and Bruker Energy and Supercon Technologies. The company offers Ion Trap MS, EVOQ Triple Quadrupole Mass Spectrometer, High field solariX XR, and Toxtyper 2.0.
Danaher Corp.
Danaher Corp. offers products through the following business segments: Life Sciences, Diagnostics, Dental, and Environmental and Applied Solutions. The company offers X500R QTOF system, Triple Quad 5500 System, API 3200 System, and TripleTOF 4600 System.
FLIR Systems Inc.
FLIR Systems Inc. offers products through the following business segments: Industrial, Government and Defense, and Commercial. The company FLIR Griffin G510 GC/MS, which is a versatile, person-portable chemical identifier.
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Mass Spectrometry End-user Outlook (Revenue, USD bn, 2020-2024)
- Pharmaceutical and biotechnology industries
- Chemical and petrochemical industries
- Others
Mass Spectrometry Regional Outlook (Revenue, USD bn, 2020-2024)
- North America
- APAC
- Europe
- South America
- MEA
- Key leading countries
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