Mass Spectrometry Market

The global mass spectrometry market is projected to reach USD 7.8 billion by 2028 from USD 5.4 billion in 2023, growing at a CAGR of 7.5% during the forecast period. Increasing spending on pharmaceutical R&D primarily drives the growth of this market in mass spectrometry, government regulations on drug safety, growing focus on the quality of food products further supports the market growth. However, recession impact impedes the market growth.

The mass spectrometry business is very competitive, with both established companies and newcomers competing for the same market share. As of 2022, the key players operating in the global mass spectrometry market are SCIEX AB (US), Thermo Fisher Scientific (US), Agilent Technologies (US), Waters Corporation(US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan) and Bruker Corporation (US) among others.

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Thermo Fisher Scientific (US)

Thermo Fisher is a US-based company that offers a complete and integrated portfolio of solutions and services for laboratory research & analysis, healthcare & clinical science, manufacturing, and other fields. The company operates through four business segments, namely, Analytical Instruments, Life Sciences Solutions, Specialty Diagnostics, and Laboratory Products & Services. The Analytical Instruments business segment offers mass spectrometry products. Thermo Fisher being a major player can be attributed to its extensive portfolio of mass spectrometry equipment used for various applications. It focuses on expanding its product portfolio by introducing new and advanced mass spectrometers for customers in biotechnology, pharmaceuticals, toxicology, forensics, and other fields. In 2021, the company launched new mass spectrometry software, MAM 2.0 workflow and Orbitrap Exploris MX mass detector. Thermo Fisher Scientific also engages in collaborations and agreements for growth.

SCIEX (US)

SCIEX, a US-based scientific instrumentation provider, is another major player in the mass spectrometry market. The company provides an elaborate portfolio of liquid chromatography-mass spectrometry instruments & accessories for life science, clinical research, and industrial markets. The company provides products mainly targeted at environmental testing, especially water analysis. It has focused on organic & inorganic growth strategies, including product launches, collaborations, and partnerships. Also, in 2021, the company built a new category of analytical instrumentation with icIEF-MS in collaboration with customer partnerships, which can help SCIEX gain an advantage over its competitors

Agilent Technologies (US)

Agilent Technologies provides a comprehensive portfolio of LC-MS, GC-MS, and ICP-MS in the mass spectrometry market. The company has a strong presence in North America and Europe. Over the last few years, the company has increased its R&D activities with a focus on investing a significant amount of its revenue in R&D; and will continue to have significant research and development expenditures in order to maintain the competitive position with a continuing flow of innovative, high-quality products and services. The company is also focusing on acquisitions, collaborations, and expansions to maintain its position in the market. For instance, in 2018, Agilent acquired its related business from Young In Scientific Co. Ltd. (a distributor of analytical and scientific instruments in South Korea), which helped it expand its presence in the South Korean market. Agilent’s mass spectrometers are reasonably priced in comparison to its competitors.

Related Reports:

Mass Spectrometry Market by Product (Instrument (Triple Quadrupole, Q-TOF, FTMS, Quadrupole, TOF), Services), Sample Preparation (LC-MS, GC-MS), Application (Omics, Clinical, Environmental), End User (Pharma, Academia, F&B) & Region - Forecasts to 2028

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