The Next-generation Mass Spectrometer Market Size is valued at USD 2.04 billion in 2023 and is predicted to reach USD 3.57 billion by the year 2031 at a 7.5% CAGR during the forecast period for 2024-2031.
Next-generation mass spectrometers are state-of-the-art analytical devices that provide enhanced sensitivity, resolution, speed, and versatility in comparison to earlier versions. They provide meticulous examination of intricate samples in disciplines like as proteomics, metabolomics, medicines, and environmental science. These devices include advancements such as enhanced ionization processes, accelerated scan speeds, hybrid mass analyzers, and advanced data processing software. They improve the ability to analyze data, assist in handling large workloads, and play a crucial role in developing scientific research, diagnostics, and industrial applications that require in-depth molecular analysis.
Next-generation mass spectrometers are developing at an astonishing rate, both in terms of resolution and speed, due to the development of new instruments and software. The primary gowth driver of the market expansion for next-generation mass spectrometers is the increase in government expenditure on pharmaceutical and life sciences research and development.
In addition, there has been a surge in the use of next-generation mass spectrometers due to growing food concerns, demands in agricultural and medical research, the ability to facilitate creative diagnosis and novel medication development for illnesses, and competitive post-sale and technical support. Moreover, growth in market revenue is also primarily driven by the spectrometry industry's rapid technological breakthroughs, such as the creation of smaller spectrometers.
Competitive Landscape
Some Major Key Players In The Next-generation Mass Spectrometer Market:
- Waters Corporation
- Thermo Fisher Scientific, Inc.
- Bruker Corporation
- AB Sciex Pte. Ltd.
- Danaher Corporation
- Rigaku
- PerkinElmer
- Bio-Rad Laboratories
- Jeol Ltd
- Agilent Technologies
- Other Market Players
Market Segmentation:
The next-generation mass spectrometer market is segmented based on type, application and end-user. Type segment includes hybrid and mass mass spectrometer. The application segment is categorized into Pharmaceuticals, Biotechnology, Medical Research, Food and Beverage Testing, and Other Applications. As per the end-user, the market is divided into Hospitals, Research Centers, and Diagnostic Laboratories.
Based On The Application, The Biotechnology Segment Is Accounted As A Major Contributor To The Next-Generation Mass Spectrometer Market.
Biotechnology is expected to hold a major global market share in 2023. In biotechnology, next-generation mass spectrometer plays a crucial role in protein analysis, biomarker identification, and biopharmaceutical characterization, allowing scientists to decipher molecular structures and explore biological processes at the molecular level. Personalized medicine and precision healthcare are made possible by the contributions made by next-generation mass spectrometers to illness biomarker identification, pharmacokinetics investigations, and clinical diagnostics. On the other hand, because of the growing number of cases of contaminated food, drug safety, and the development of novel medications for illnesses, pharmaceutical companies, for instance, have a wide range of applications for the next-generation mass spectrometer.
Hospitals Segment To Witness A Rapid Growth At A Rapid Rate.
Next-generation mass spectrometers are found to be extensively used in hospitals, where they are employed for a range of clinical purposes, such as biomarker identification, therapeutic medication monitoring, and illness diagnosis. In hospital settings, next-generation mass spectrometers are vital to improve patient care outcomes and diagnostic capacities. However, research centres, which include universities, government research institutes, and private research groups, make up another important end-user segment. In these environments, next-generation mass spectrometers are used in a variety of disciplines, comprising biology, chemistry, physics, and materials science, for basic science, applied science, and technological development.
In The Region, The North American Next-Generation Mass Spectrometer Market Holds A Significant Revenue Share.
The North American next-generation mass spectrometer market is expected to report the maximum market share in revenue in the near future, propelled by the existence of top mass spectrometry producers, a firmly established research network, and substantial investments in the life sciences and healthcare. Over the course of the projection period, the next-generation mass spectrometer market in North America is expected to rise thanks in part to the increased focus on medication research and development by a number of pharmaceutical companies. In addition, Asia Pacific is predicted to grow rapidly in the global next-generation mass spectrometer market.
The growth of next-generation mass spectrometers worldwide in the region is being aided by increased research in the medical and pharmaceutical fields. The next-generation mass spectrometer market is anticipated to develop at a rapid rate throughout the course of the forecast period due in part to the vast number of conferences, production facilities, and research facilities of companies in the Asia-Pacific region, excluding the Japanese market.
Recent Developments:
- In June 2024, Waters Corporation introduced the Xevo™ MRT, a top-of-the-line benchtop mass spectrometer (MS) that achieves exceptional performance. This instrument establishes new benchmarks in terms of high resolution and speed, which are crucial for conducting extensive investigations involving large populations and epidemiology. It utilizes the groundbreaking technology developed by the Waters SELECT SERIES™ MRT MS.
- In Jan 2024, Shimadzu Scientific Instruments unveiled the GCMS-QP2050, its latest gas chromatograph mass spectrometer. The GCMS-QP2050, equipped with state-of-the-art automated technology, provides outstanding reliability, sensitivity, stability, and speed in a user-friendly and compact design. It has the potential to be combined with Shimadzu's top-of-the-line Nexis GC-2030 or smaller Brevis GC-2050 to fulfil the performance and space needs of customers.
Next-generation Mass Spectrometer Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 2.04 Bn |
|
Revenue Forecast In 2031 |
USD 3.57 Bn |
|
Growth Rate CAGR |
CAGR of 7.5% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application, And End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Shimadzu Corporation, Waters Corporation, Thermo Fisher Scientific, Inc., Bruker Corporation, AB Sciex Pte. Ltd., Danaher Corporation, Rigaku, PerkinElmer, Bio-Rad Laboratories, Jeol Ltd, and Agilent Technologies. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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