The mass spectrometry market to grow by USD 2,520.16M from 2022-27

The mass spectrometry market is estimated to grow by USD 2,520.16 million at a CAGR of 10.08% between 2022 and 2027.

Mass spectrometry market – Vendor analysis
Vendor Landscape – The mass spectrometry market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer mass spectrometry in the market are 908 Devices Inc., ABB Ltd., Agilent Technologies Inc., Bruker Corp., Endress Hauser Group Services AG, European Virtual Institute for Speciation Analysis, JEOL Ltd., Kore Technology Ltd., LECO Corp., Perkin Elmer Inc., Rigaku Corp., Shimadzu Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., and Waters Corp. and others.

Geography overview
By geography, the global mass spectrometry market is segmented into North America, Europe, Asia, and the Rest of the World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global mass spectrometry market.

North America is estimated to contribute 42% to the growth of the global market during the forecast period. This is because several pharmaceutical companies are increasingly focusing on drug discovery and development. Some large pharmaceutical companies, such as Novartis International AG and Pfizer, have invested in numerous research activities related to drug development and vaccine manufacturing. For example, PhRMA has invested approximately US$102.38 billion in its 2022 research and development activities.

Mass spectrometry market – Market dynamics
Key drivers
The rise in the geriatric population is a key factor driving the market growth. Skin infections, bacterial pneumonia, influenza, urinary tract infections, and gastrointestinal infections are some of the most frequent microbial diseases impacting aging populations. Furthermore, the elderly population is subjected to diagnostic tests, such as microbial testing, on a regular basis due to their low immunity and metabolism. Hence, the growing geriatric population is expected to drive market growth during the forecast period.

Major trends
Increasing demand for portable mass spectrometers is a major trend in the market. With the advent of this technology, several vendors on the market offer small permanent magnets that make mass spectrometers easier to carry, as opposed to traditional mass spectrometer systems that are very large and bulky. For example, The Thermo Fisher Scientific Prima BT Benchtop Mass Spectrometer offers several advantages, which include easy sample introduction, automated sampling, and best-in-class resolution. Thus, the benefits are expected to drive market growth during the forecast period.

Significant challenges
The lack of imaging capabilities is a significant challenge restraining market growth. Molecular imaging techniques are a widely used technique in pharmaceutical research and biomarker discovery and identification because they allow researchers to see the biological and anatomical features of these molecules. However, one of the limitations of these spectrometers is their inability to perform such imaging functions. Hence, these limitations are expected to restrict the mass spectrometry market growth during the forecast period. Technavio