(PharmaNewsWire.Com, May 12, 2020 ) The increasing spending on pharmaceutical R&D across the globe, government regulations on drug safety, growing focus on the quality of food products, and technological advancements in mass spectrometers are the key drivers of the Mass Spectrometer Market. Government initiatives for pollution control and environmental testing and an increase in crude and shale gas production are also supporting the growth of Mass Spectrometer Market.
Hybrid mass spectrometers are estimated to account for the largest share of the Mass Spectrometer platform market in 2019
The Mass Spectrometer Market is segmented on the platform into hybrid Mass Spectrometer, single Mass Spectrometer, and other platforms. The hybrid Mass Spectrometer segment is further divided into triple quadrupole, quadrupole TOF, and Fourier transform Mass Spectrometer devices, while the single Mass Spectrometer segment includes single quadrupole, Time of Flight (TOF), and ion trap spectrometers. The hybrid Mass Spectrometer segment held the largest share of the Mass Spectrometer Market in 2019. The technological advancements in mass spec technologies and the advantages of hybrid Mass Spectrometer, such as sensitivity, accuracy, and efficiency over other platforms, are the major factors driving the growth of this product segment..
Pharmaceutical & biotechnology are the primary application areas of the global Mass Spectrometer Market
The market is segmented into pharmaceutical & biotechnology applications, environmental testing, food & beverage testing, petrochemical applications, and other applications based on use. The pharmaceutical & biotechnology applications segment estimated to command the largest share of the market in 2019, and this segment is also projected to register the highest CAGR owing to the rise in pharmaceutical biosimilars phytopharmaceuticals and regenerative medicine along with the growing research in proteomics and metabolomics.
The APAC Mass Spectrometer Market to grow at the highest CAGR during the forecast period
While North America is expected to dominate the global Mass Spectrometer Market in 2019, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the numerous expansions and collaborations by key players in China, a significant amount of funding for Mass Spectrometer in Japan, and strict environmental monitoring regulations in India.
The major players operating in the Mass Spectrometer Market include SCIEX (US), Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), and Shimadzu Corporation (Japan). The other players in this market include PerkinElmer (US), Bruker (US), Analytik Jena (Germany), JEOL (Japan), Rigaku (Japan), DANI Instruments (Italy), LECO (US), Hiden Analytical (UK), Kore Technology (UK), Extrel CMS (US), MassTech (US), AMETEK Process Instruments (US), MKS Instruments (US), Advion (US), and FLIR Systems (US).
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