Mass Spectrometry Market By Technology (Hybrid Mass Spectrometry [Triple Quadrapole, Quadrapole TOF, And Fourier Transform Mass Spectrometry], Single Mass Spectrometry [Ion Trap, Quadrapole, And Time-Of-Flight], And Other Mass Spectrometry) And Application (Pharmaceutical, Biotechnology, Industrial Chemistry, Environmental Testing, Food & Beverage Testing, And Other Applications) - Global Opportunity Analysis And Industry Forecast, 2017-2023
Mass spectrometry market is a technique used to quantify the characteristics of specific molecules. A spectrometer ionizes the molecules of a compound species and categorizes them according to their mass to charge ratio.
The global mass spectrometry market was valued at $4,598 million in 2016, and is estimated to reach at $7,922 million by 2023, registering a CAGR of 8.0% from 2017 to 2023.
Mass spectrometry is generally used in analytical laboratories to study chemical, physical, or biological properties of a wide range of compounds. It is utilized both quantitatively and qualitatively to detect unknown compounds and calculate particular elements’ isotopic composition in a molecule.
This technique can also be used to observe fragments of a compound to determine its structure.
Technological advancements in mass spectrometry have led to increased applications of this procedure. In addition, rise in private funding and government grants for R&D activities of mass spectrometry supplements the market growth.
Strict monitoring and stringent rules set in food & beverage industry by government authorities drive this growth further. However, lack of skilled and trained personnel to operate spectrometry equipment and high cost of the instrument are expected to impede the market growth.
The mass spectrometry market is segmented based on technology, application, and geography. Based on technology, it is divided into hybrid mass spectrometry, single mass spectrometry, and other mass spectrometry.
Hybrid mass spectrometry is further categorized into triple quadrapole, quadrapole TOF, and Fourier transform mass spectrometry (FTMS). Single mass spectrometry is further segmented into ion trap, quadrapole, and time-of-flight (TOF).
Based on application, it is classified into pharmaceutical, biotechnology, industrial chemistry, environmental testing, food & beverage testing, and other applications. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global mass spectrometry market, with the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on applications assists to understand the trends in the industry.
- Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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