Mass Spectrometry Market size is set to grow by USD 2520.16 million from 2023-2027, increase in use of hyphenated technology to boost the market growth, Technavio

NEW YORK, May 10, 2024 /PRNewswire/ -- The global mass spectrometry market size is estimated to grow by USD 2520.16 million from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 10.08% during the forecast period. 

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Market Driver

• The surge in the elderly demographic is a key driver of global market expansion in the projected timeframe. 
• Among the fastest-growing segments of the global populace is the elderly cohort.
• For example, in 2020, the number of individuals aged 65 and older exceeded 727 million, representing 9.3% of the global populace.
• Common microbial illnesses affecting the aging populace encompass skin infections, bacterial pneumonia, influenza, urinary tract infections, and gastrointestinal infections.
• Due to their diminished immunity and metabolism, older individuals frequently undergo diagnostic tests such as microbial testing.
• Consequently, these factors are anticipated to propel the global market's growth throughout the forecast period.

Market Challenges

• Limited imaging capabilities pose a significant challenge to global market growth
• Mass spectrometers excel at identifying molecules based on mass-to-charge ratios
• Molecules are represented graphically with peaks indicating their quantity in the sample
• Molecular imaging techniques are crucial in pharmaceutical research and biomarker discovery
• These techniques enable visualization of biological and anatomical features of molecules
• Current spectrometers lack the ability to perform imaging functions
• This limitation could impede the market's growth during the forecast period

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Segment Overview 

This mass spectrometry market report extensively covers market segmentation by

1. End-user 
• 1.1 Pharmaceutical and biotechnology industries
• 1.2 Chemical and petrochemical industries
• 1.3 Others
2. Product 
• 2.1 Instruments
• 2.2 Consumables
• 2.3 services
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Pharmaceutical and biotechnology industries- 

The pharmaceutical and biotechnology industries are anticipated to experience significant market share growth throughout the forecast period. Mass spectrometry, a cornerstone technology in these sectors, boasts several key applications. Among these are the determination of molecular structure and sample purity, as well as the rapid screening and mapping of binding sites for small molecules across a spectrum of protein targets.

In 2017, the pharmaceutical and biotechnology industries segment was valued at USD 1.33 billion, with continuous growth observed until 2021. The surge in demand for mass spectrometry within the pharmaceutical sector is chiefly driven by its pivotal role in drug development. Leveraging the inherent mass-to-charge ratio of specific molecules, mass spectrometry unveils crucial insights into molecular structure, concentration, identity, and behavior across both solid and liquid samples.

Key applications of mass spectrometry in pharmaceutical endeavors include the elucidation of therapeutic agent structural composition, measurement of large molecule dynamics to understand their biological function modulation, and assurance of accurate compound production post-drug test approval. Consequently, these factors are anticipated to fuel the growth of this segment throughout the forecast period.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017-2021) - Download a Sample Report

Research Analysis

The Mass Spectrometry (MS) market encompasses a range of applications within the pharmaceutical industry, including drug safety assessment, biopharmaceutical development, and personalized medicine. MS analysis utilizes advanced software tools and algorithms to interpret high-resolution mass spectra, enabling the identification of fragmentation patterns and isotopic abundance in chemical data. This information is crucial for forensic applications and vaccine development. Laboratory safety measures are paramount in MS applications, ensuring the integrity of results. Techniques such as Chromatography, Spectroscopy, and Imaging are integral components of MS systems, providing valuable data for MS analysis. Liquid Chromatography, in particular, is widely used for separating and analyzing complex mixtures in the pharmaceutical sector.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Pharmaceutical And Biotechnology Industries
• Chemical And Petrochemical Industries
• Others
• Product
• Instruments
• Consumables
• Services
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]

Website: www.technavio.com/

SOURCE Technavio

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