A thorough research published in 2022 revealed that the Global Next Generation Mass Spectrometer Industry had reached an impressive worth of US$ 1,901.7 million. The quick growth of spectrometry technology, particularly the revolutionary creation of smaller spectrometers, is what has led to this significant achievement.
Projected growth rates for the industry between 2022 and 2032 are a strong 7.2% Compound Annual Growth Rate (CAGR), showing significant development ahead for the sector. Projected to reach an estimated US$ 4,097.1 million by the end of 2032, the sector is expected to have a broad market landscape. This continued expansion highlights the global use of advanced analytical technologies and indicates the market’s vitality.
The report underscores the pivotal role of these technological breakthroughs in driving the market’s revenue growth. Miniaturized spectrometers, in particular, have emerged as a game-changer, facilitating enhanced precision and efficiency in various applications.
In next-generation mass spectrometer hardware is designed to move fragile molecules into a gaseous ionized state where the molecules are consequently analyzed. As next-generation mass spectrometers include matrix-assisted laser desorption/ionization (MALDI), electrospray ionization, and surface-enhanced laser desorption/ionization (SELDI).
In addition, the next-generation mass spectrometer has morphed from a cumbersome and costly machine. Furthermore, the next-generation mass spectrometer is used for predicting a patient`s recovery after surgery and profiling immune system response.
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Global Next Generation Mass Spectrometer Industry: Drivers and Restraints
The key factor responsible for the growth of the next-generation mass spectrometer market is the increasing government outlay in the life science industries and increasing research and development in the pharmaceutical industries.
In addition, increasing food concern, demand in the fields of agriculture and medical research, enabling innovative diagnosis, new drug development for diseases, and competitive post-sale and maintenance services led to increased adoption of next-generation mass spectrometers.
However, the significantly high cost of instruments and the lack of skilled people to operate next-generation mass spectrometers are some of the key restraints in the Global Next Generation Mass Spectrometer Industry.
Global Next Generation Mass Spectrometer Industry: Overview
Based on application, the market is segmented into Pharmaceuticals, biotechnology, medical research, food and beverages testing, and others. Among these segments, pharmaceutical industries have a wide scope of the next-generation mass spectrometer due to an increase in the cases of adulterated food, drug safety, and new drug development for diseases.
In addition, medical research has also fueled the growth of global next-generation mass spectrometers. Based on end users, the market is segmented into hospitals, research centers, and diagnostic laboratories. Next-generation mass spectrometers are most widely used among research centers and diagnostic laboratories across the globe.
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Next-Generation Mass Spectrometer Industry: Regional Overview
Region-wise, the Global Next Generation Mass Spectrometer Industry is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, and the Middle East and Africa. North America is expected to dominate the global next-generation mass spectrometer due to an increase in government investments in biomedical and biotechnology areas.
In addition, increased research in the field of pharmaceutical industries and the medical field is also supporting the growth of global next-generation mass spectrometers in the region. Similarly, the increasing number of conferences, manufacturing,,, and research facilities of companies in Asia –the Pacific excluding the Japan market is expected to boost the growth of the next-generation mass spectrometer market over the forecast period.
Global Next Generation Mass Spectrometer Industry: Key Players
The key players in the market are Waters Corporation, Thermo Fisher Scientific, Inc., AB Sciex Pte. Ltd., Bruker Corporation, Shimadzu Corporation, Danaher Corporation, PerkinElmer, Rigaku, Bio-Rad Laboratories, Jeol Ltd and Agilent Technologies. Most of the next-generation mass spectrometer markets are adopting acquisition and merger as a key strategy for business growth.
Key Segments of Next Generation Mass Spectrometer Industry Survey
Global Next-Generation Mass Spectrometer Industry by Application:
- Next-Generation Mass Spectrometers for Pharmaceuticals
- Next-Generation Mass Spectrometers for Biotechnology
- Next-Generation Mass Spectrometers for Medical Research
- Next-Generation Mass Spectrometers for Food and Beverage Testing
- Next-Generation Mass Spectrometers for Other Applications
Global Next-Generation Mass Spectrometer Industry by End User:
- Next-Generation Mass Spectrometers for Hospitals
- Next-Generation Mass Spectrometers for Research Centers
- Next-Generation Mass Spectrometers for Diagnostic Laboratories
Global Next-Generation Mass Spectrometer Industry by Region:
- North America Next Generation Mass Spectrometer Market
- Latin America Next Generation Mass Spectrometer Market
- Europe Next Generation Mass Spectrometer Market
- Asia Pacific Next Generation Mass Spectrometer Market
- Middle East & Africa Next Generation Mass Spectrometer Market
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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