Northbrook, IL 60062 -- (SBWIRE) -- 03/02/2023 -- The mass spectrometry industry has seen tremendous growth over the past few years, and this trend is expected to continue into the near future. This is largely due to the fact that mass spectrometry has become an invaluable tool for a variety of industries and applications, from drug discovery and environmental monitoring to food safety and medical diagnostics. As the technology continues to evolve, the market for mass spectrometry products and services is expected to grow significantly over the next few years.

Mass Spectrometry market in terms of revenue was estimated to be worth $4.59 billion in 2022 and is poised to reach $7.6 billion by 2028, growing at a CAGR of 7.5% from 2022 to 2028 according to a latest report published by MarketsandMarkets™. Increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, growing focus on the quality of food products, increase in crude and shale gas production, and growing government initiatives for pollution control and environmental testing are high growth prospects for the mass spectrometry market during the forecast period.

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Prominent Players of Mass Spectrometry Market:
Thermo Fisher Scientific (US), SCIEX (US) Agilent Technologies (US), Waters Corporation (US), PerkinElmer (US), Shimadzu Corporation (Japan), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), and Hiden Analytical (UK) and Among Others

Notable Mass Spectrometry mergers and acquisitions for 2021 – 2022 include:
- Waters Corporation acquiring Agilent Technologies' mass spectrometry business.
- Thermo Fisher Scientific acquiring Bruker Corporation's Mass Spectrometry business.
- PerkinElmer acquiring AB SCIEX.
- Shimadzu Corporation acquiring LECO Corporation's Mass Spectrometry business.
- Bio-Rad Laboratories acquiring Applied Biosystems' Mass Spectrometry business.

Growth Drivers of Mass Spectrometry Market from Macro to Micro:

Macro Level

- Increasing demand for reliable and accurate analytical techniques: The rising demand for reliable and accurate analytical techniques in the pharmaceutical, biotechnology, and food and beverage industries is a major growth driver of the mass spectrometry market. Mass spectrometry is increasingly being used to analyze complex molecules and compounds in these industries, which has led to a growing demand for this technology.

- Growing need for drug discovery and development: The increasing demand for new and improved drugs, particularly in the oncology sector, has driven the need for efficient and cost-effective drug discovery and development processes. Mass spectrometry is increasingly being used to analyze and identify potential new drugs, which has increased the demand for this technology.

Micro Level

- Increasing demand for high-throughput screening: The need for higher throughput screening in pharmaceutical and biotechnology industries has increased the demand for mass spectrometry. High-throughput screening enables companies to screen large numbers of samples quickly and accurately, which is critical for cost-effective drug discovery and development processes.

- Advances in technology: Advances in mass spectrometry technology have enabled the development of more sophisticated instruments that offer better accuracy, sensitivity, and speed. The increasing availability of these instruments has increased the demand for this technology.

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Hypothetic Challenges of Mass Spectrometry Market in Near Future:
- Increasing cost of mass spectrometry instruments: Mass spectrometry instruments are becoming increasingly expensive, leading to a decrease in the number of laboratories that can afford them.
- Increasing complexity of mass spectrometry techniques: While mass spectrometry techniques are becoming increasingly accurate, they are also becoming more complex, requiring more technical expertise to operate. This could lead to a decrease in the number of skilled technicians who are able to use these instruments.
- Advances in mass spectrometry technology: Advances in mass spectrometry technology are making it possible to analyze smaller and smaller samples, leading to a decrease in the amount of sample required for analysis. This could lead to a decrease in demand for mass spectrometry instruments.
- Competition from other analytical techniques: The increasing availability of other analytical techniques, such as chromatography and spectroscopy, could lead to a decrease in demand for mass spectrometry instruments.
- The emergence of new markets: The emergence of new markets, such as the medical and environmental markets, could lead to an increase in demand for mass spectrometry instruments.
Top 3 Use Cases of Mass Spectrometry Market:
- Molecular Characterization: Mass spectrometry is used to characterize molecules, including proteins, peptides, oligonucleotides, polymers, and small molecules, by measuring the mass and abundance of its components. This allows scientists to identify and quantify molecules and determine their structure.
- Clinical Diagnostics: Mass spectrometry is used for the detection and quantification of biomarkers in clinical settings, such as for the diagnosis of cancer and other diseases.
- Environmental Analysis: Mass spectrometry is used to analyze samples from the environment, such as water and soil, to detect and quantify toxic compounds and other pollutants. This helps to identify sources of pollution and monitor the health of ecosystems.

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