Global Mass Spectroscopy Market to Show $7,726.2 Million in 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/10/2017 -- 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. Zion Market 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".
Mass spectrometry is an analytic technique that uses a magnetic field to get the masses of molecular ions by using a degree of deflection of charged particles. Mass spectroscopy can be used for small amount of sample. Mass spectroscopy is adopted for determining molecular mass, the structure of unknown substance; identify purity of substance and for obtaining data on isotopes. In mass spectroscopy the sample which is either solid, liquid or gas is ionized by bombarding electrons, this causes the molecules to break down into charged particles. The ions are separated as per their mass to charge ratio by exploring them in the electric and magnetic field and are further detected using electron multiplier.
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Technological advancement such as improved speed, high speed and resolution of mass spectrometry had led to high growth of the market. Furthermore, adoption of mass spectroscopy in testing, drug development, research, proteomics spurs the growth of the market. Also, food safety market is likely to pose high demand of mass spectroscopy in the forecast period. Increasing support and funds from the government for development of mass spectroscopy stimulates the growth of the market. However, the high cost of mass spectrometry may inhibit the growth of this market. Nevertheless, ongoing research for product development and its untapped usage is likely to open a new avenue in the near future.
Mass spectroscopy can be segmented on the basis of technology which includes 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 bifurcated as Quadrupole TOF (Q-TOF), Triple Quadrupole (Tandem) and FTMS (Fourier Transform Mass Spectrometry). Hybrid mass spectroscopy held the largest share in total. Several applications for mass spectroscopy are industrial chemistry, pharmaceuticals, food & beverage testing, biotechnology, environmental testing and others. Pharmaceutical emerged as the potential segment owing to the highest usage of mass spectroscopy.
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The mass spectroscopy market was dominated by North America followed by Europe in 2014. Factors such as advanced technologies, government support and funding for research and development foster the demand for mass spectroscopy in these regions. Asia Pacific is considered to be the prominent market for the mass spectroscopy and is expected to gain traction over the forecast period. This is mainly attributed to expanding pharmaceutical sector and food testing industry. Latin America is anticipated to exhibit strong growth of mass spectroscopy market due to growing pharmaceutical sector in Brazil. The Middle East and Africa are expected to experience sluggish growth owing to lack of technical know-how and demand for use of mass spectroscopy.
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Dani Instruments S.P.A., PerkinElmer, Thermo Fisher Scientific, Waters Corporation, Kore Technologies, Ltd., Agilent Technologies, Bruker Corporation, Danaher Corporation, Shimadzu Corporation and Leco Corporation among others are some of the key participants for the mass spectroscopy market.