Mass Spectrometer Market: Growth Opportunities Created by Covid19 Outbreak

The Global Mass Spectrometer Market is likely to expand at a CAGR of 7.8% between 2019 and 2026. Fortune Business Insights in a report, titled “MASS SPECTROMETER: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” predicts that the adoption of mass spectrometer equipment is likely to increase as this equipment can precisely measure the molecular weight of an analyst. The mass spectrometer instrument together with chromatography calculates the analytical mass of a particular molecule. The report predicts the Global Mass Spectrometer Market was valued at US$ 5,512.2 Mn in the year 2018 and is anticipated to reach US$ 10,044.7 Mn by 2026.

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Joel Launches a Novel Mass Spectrometer System to Expand its Product Line

Shimadzu Corporation
PerkinElmer Inc.
WATERS
Thermo Fisher Scientific Inc.
Bruker
AB Sciex
Agilent Technology
LECO
JEOL USA
Advion, Inc.

Key Industry Developments

In June 2018, Thermo Scientific launched Orbitrap ID-X in collaboration with HighChem for characterization of small molecules.
In April 2019, Agilent launched 6546 quadrupole time-of-flight LC/MS system, a hybrid mass spectrometer to deliver high resolution analytical data.
In March 2019, JEOL USA announced the launch of GC-triple quadrupole mass spectrometer system to expand the company’s product line in mass spectrometer.

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Market in North America Continues to Lead Owing to Presence of Key Players in the U.S.

Among regions, the market in North America is expected to maintain its dominance through the forecast period. Moreover, the regional market was valued at US$ 2,126.7 Mn in the year 2018. Presence of recognized key players and technological advancements are creating lucrative opportunities for the market. Governments in this region are granting funds to research institutes working on in mass spectrometry, which will further increase the mass spectrometer market share in North America. The University of Georgia recently received grants from the National Institutes of Health in the U.S. This funding is for conducting biomedical research and this is another factor responsible for the high growth of the market in this region. A report by the Industrial Research Institute (IRI) finds that the U.S. is the only country in the world who spends aggressively on research and development activities. Governments in North America are increasingly investing in areas such as biomedical, biotechnology, and proteomics. Such factors are likely to accelerate the mass spectrometer market size in North America.

Following North America, the market in Europe is expected to grow considerably owing to increasing spending on research initiatives.

The mass spectrometer market in Asia Pacific is poised to surge owing to better economic conditions. This, coupled with the rising number of pharmaceutical companies, is expected to fuel demand for mass spectrometer analysis. Enabled by these factors, the mass spectrometer market is likely to witness higher CAGR in Asia Pacific in the forecast period.