Mass Spectroscopy Market Will Grow at a CAGR of 7.9% from 2015 to 2020
Zion Research has published a new report titled “Mass Spectroscopy Market by Technology (Single Mass Spectrometry, Hybrid Mass Spectrometry and Other mass spectrometry) for Industrial Chemistry, Pharmaceuticals, Food & Beverage Testing, Biotechnology, Environmental Testing and other application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, global demand for mass spectroscopy was valued at over USD 4,896.7 million in 2015, is expected to reach above USD 7,726.2 million in 2021 and is anticipated to grow at a CAGR of slightly above 7.9% between 2016 and 2021.
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Mass spectrometry (MS) is analytical technique that measures the mass spectrum present in the sample. Mass spectrum is the plot of ion signal as a function of the mass to charge ratio. The technique ionizes the chemical species and varies the ions based on their mass to charge ratio. Mass spectrometry is used in pharmaceuticals, research labs, clinical research and food testing. The advance mass spectroscopy includes high speed and resolution.. This factor drives the growth of advance mass spectroscopy market. Moreover, usage of mass spectroscopy in drug development, proteomics, and pharmaceuticals stimulates the demand for the mass spectroscopy. Use of mass spectroscopy in food safety testing further fuels the growth of market. However, high cost of instruments may curtail the growth of the market. Nonetheless, increasing technological advancements and expanding application areas are likely to foster the demand for mass spectroscopy in the forecast period.
Based on the technology, the mass spectroscopy market can be segmented as single mass spectrometry, hybrid mass spectrometry and other mass spectrometry. The single mass spectrometry can be sub segmented as quadrupole, ion trap and time-of-flight (tof). Hybrid mass spectroscopy can be bifurcate as Quadrupole TOF (Q-TOF), Triple Quadrupole (Tandem) and FTMS (Fourier Transform Mass Spectrometry). Hybrid mass spectroscopy is the potential segment for the mass spectroscopy with the largest share. Mass spectroscopy consists of various end user applications including industrial chemistry, pharmaceuticals, food & beverage testing, biotechnology, environmental testing and other application. Pharmaceutical emerged as the prime segment owing to highest usage of mass spectroscopy.
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North America accounted for the largest share in 2014, followed by Europe. Growth of market in these regions is mainly contributed to government initiatives, innovations and increasing usage of mass spectroscopy for research. Asia Pacific is the fastest growing economies due to high demand for mass spectroscopy in pharmaceutical and food testing industry. Latin America is expected to show lucrative growth over the coming years owing to growing pharmaceuticals sector in Brazil. Middle East and Africa are anticipated to show moderate growth rate due to lack of awareness.
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