The global mass spectrometry market is projected to be worth USD 7,492.1 million by 2030, growing at a CAGR of 6.4%.
The market is being propelled by the expansion of healthcare infrastructure, an increase in healthcare spending, and technological developments in mass spectrometry (MS).
Remarkable technological progress has recently been made in mass spectrometry methods. These developments include novel mass analyzers and ionization processes, as well as increases in equipment sensitivity, resolution, and speed. These developments have broadened the uses of mass spectrometry across numerous sectors and scientific disciplines.
Mass spectrometry is highly demanded in the health care and biotechnology sectors for use in identifying drugs, creation of drugs, and assurance procedures. Research on proteomics and metabolomics is carried out using mass spectrometry, which is also used to analyze drug components, ascertain drug metabolism, find biomarkers, and identify biomarkers. Mass spectrometry devices are being used more frequently due to the growing healthcare and biotechnology sectors.
North America had the largest mass spectrometry market share of nearly 40%. The region's market is expanding because of high healthcare spending, as well as developed healthcare infrastructure, the existence of several industry participants, and strict government restrictions in the pharmaceutical and biotechnology sectors.
Additionally, there is a considerable need for mass spectrometers in the region due to rising worries about food safety, a well-developed healthcare system, technological improvements in MS, and new GMP and GDP certifications for pharmaceutical excipients.
Mass spectrometers are being used more frequently in clinical testing and proteomics, and the demand for improved MS equipment is rising, providing producers in the area with numerous potentials for income generating. A growing number of acquisitions, partnerships, and the introduction of new products are among some of the major trends in the North American market.
Mass spectrometry now has more widespread uses across a range of industries and academic fields because of technological improvements. The triple quadrupole and orbitrap technologies used in hybrid mass spectrometry, in particular, offer improved selectivity, precision, and identification capabilities. Due to high healthcare spending, an advanced healthcare infrastructure, and stringent regulations, North America dominates the industry.
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