ICP-MS System Market Size is valued at USD 394.7 Mn in 2023 and is predicted to reach USD 609.05 Mn by the year 2031 at a 5.75% CAGR during the forecast period for 2024-2031.
Inductively Coupled Plasma Mass Spectroscopy (ICP-MS) is a mass spectroscopy technique that allows for the detection of metals and nonmetals at extremely trace levels. This system performs several analyses rapidly and accurately. This technique deposits spectroscopic samples via laser ablation or as a plasma solution. The drug development and biological sciences use ICP MS for trace metal analysis. Growth prospects can be found in the increased attention paid to drug safety and the investigation of metal ions in biological systems.
Iron is converted from atoms to ions by the ICP source and then separated and identified by the mass spectrometer. This method is employed in various industries to guarantee the exclusive standards of quality and safety, including the food and pharmaceutical industries, as well as the environmental, geochemical, nuclear, and medical sectors. ICP-MS has improved speed, precision, and sensitivity. Furthermore, Increased sensitivity, increased throughput, and streamlined usability are just a few of the features that have contributed to the rising popularity of ICP MS instruments. As a result of the updates, ICP MS is now usable by a wider audience.
However, the market growth is hampered by the high-cost criteria for the safety and health of the ICP-MS system market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high humidity ICP-MS system due to the high cost of the equipment upfront. When analyzing heavy elements like lead, ICP-MS performs well; however, when attempting to analyze lesser elements, interferences occur. Lighter elements, such as chromium and iron, cannot be measured by ICP-MS. As a result, the industry's reaction to COVID-19 offers suggestions for how companies might adjust to the new market environment. Key market impediments, such as emerging market economic limits and corporate market barriers, are identified in the paper.
Competitive Landscape
Some Major Key Players In The ICP-MS System Market:
- Advion, Inc. (Beijing Bohui Innovation Biotechnology Co., Ltd.
- Agilent Technologies, Inc.
- Analytik Jena GmbH
- Nu Instruments (AMETEK, Inc.)
- PerkinElmer, Inc.
- Shimadzu Corporation,
- Thermo Fisher Scientific
- GBC Scientific Equipment (EWAI)
- Expec Technology (FPI)
- Skyray Instrument
- NCS Testing Technology
- Macylab Instruments
- HORIBA, Ltd
- Intertek Group plc
- Others
Market Segmentation:
The ICP-MS System Market is segmented based on product type, modality, and application. By product type, the market is segmented into single quadrupole ICP MS, triple quadrupole ICP MS, multi quadrupole ICP MS, high-resolution ICP MS, multi-collector ICP MS, and others. As per the modality, the market is segmented into benchtop ICP MS systems and floor-standing ICP MS Systems. By application, the market is segmented into water analysis, environmental analysis, pharmaceutical and biomedical research, geological and mining research, Food and beverage testing, petrochemical analysis, semiconductor analysis, and others.
Based On The Modality, The Benchtop ICP-MS Systems ICP-MS System Market Segment Is A Major Contributor To The ICP-MS System Market.
The Benchtop ICP-MS systems ICP-MS system market is expected to lead with a major global market share in 2024. Benchtop ICP-MS systems are compact, versatile, and cost-effective instruments for doing high-performance elemental analysis in the lab. Simple setup, lower operational costs, and malleability in sample analysis all contribute to the rising popularity of such systems. Research, academic tracking, and product evaluation are possible applications.
Pharmaceutical And Biomedical Research Segment To Witness Growth At A Rapid Rate
Pharmaceutical and biomedical research makes up the bulk of ICP-MS system usage due to demographic shifts, rising rates of chronic diseases, and developments in individualized treatment. ICP-MS systems, which can provide accurate and reliable elemental analysis data for research and regulatory compliance, are seeing a surge in interest, especially in countries like the US, Germany, the UK, China, and India.
The North American ICP-MS System Market Holds A Significant Revenue Share In The Region.
The North American ICP-MS system market is expected to register the maximum market share in revenue in the near future. This can be attributed to the many universities and research centres that employ ICP MS to pursue various scientific goals. The academic and scientific communities largely fuel demand for ICP MS systems. In addition, Asia Pacific is estimated to grow rapidly in the global ICP-MS system market because of the larger population and a heightened awareness of food safety. Food and agricultural samples can be analyzed for pollutants, nutrients, and trace elements using ICP MS.
Recent Developments:
- In March 2021, Agilent introduced the Agilent 7850 ICP-MS System, which includes innovative time-capture reduction tools that have the potential to disrupt ICP-MS analysis workflows. The 7850 ICP-MS integrates revolutionary software functionalities with market-leading performance, thereby endowing standard ICP-MS laboratories with cutting-edge capabilities. This is the result of decades of innovation. The new 7850 offers clients solutions that increase their productivity and efficiency without sacrificing quality.
- In Dec 2020, Thermo Scientific has unveiled a novel ICP-MS device. Thermo Fisher Scientific has developed a novel inductively coupled plasma mass spectrometry (ICP-MS) instrument that aims to provide dependable and accurate isotope ratio analysis for a range of applications in nuclear safeguards, biomedical research, and earth sciences. The instrument maintains its sensitivity, stability, and user-friendliness.
ICP-MS System Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 394.7 Mn |
|
Revenue Forecast In 2031 |
USD 609.05 Mn |
|
Growth Rate CAGR |
CAGR of 5.75% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million, volume (units) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, Modality, Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Advion, Inc. (Beijing Bohui Innovation Biotechnology Co., Ltd., Agilent Technologies, Inc., Analytik Jena GmbH, Nu Instruments (AMETEK, Inc.), PerkinElmer, Inc., Shimadzu Corporation, Thermo Fisher Scientific, GBC Scientific Equipment (EWAI), Expec Technology (FPI), Skyray Instrument, NCS Testing Technology, Macylab Instruments, HORIBA, Ltd, Intertek Group plc, Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
