Mass Spectrometry Market Overview

Mass spectrometry is an analytical tool useful for measuring the mass-to-charge ratio (m/z) of one or more molecules present in a sample.  These measurements can often be used to calculate the exact molecular weight of the sample components as well. Mass spectrometers are used to identify unknown compounds via molecular weight determination, to quantify known compounds, and determine the structure and chemical properties of molecules.

 

Mass Spectrometry Market experiencing significant growth of XX% every year and is expected to continue its growth during the forecast period. Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, and Shimadzu Corporation are well-established players in the Mass Spectrometry Market. Thermo Fisher Scientific is a global leader in the Mass Spectrometry Market which offers a broad portfolio of mass spectrometry solutions for specific industries and applications, such as pharmaceuticals, environmental monitoring, and food safety. The company's Orbitrap mass spectrometers are renowned for their high resolution and mass accuracy. North America region held the dominant segment in the Mass Spectrometry Market in 2023.

 

The Mass Spectrometry Market is mainly driven by an Increase in R&D Activities in the Biotech and Pharma Industries and the Food & Beverage Industry, which will lead to the rapid growth of the Mass Spectrometry Market globally in the forecasting year 2024-2030. High costs associated with Mass Spectrometer Devices are the main challenges in the Mass Spectrometry Market. Based on End Users, the pharmaceutical industries segment dominated the market in 2023 with a share of XX%. The pharmaceutical business depends on mass spectrometers for a variety of reasons, including complex molecular analysis, extensive research and development, and regulatory compliance which drive the Mass Spectrometry Market.

 

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Mass Spectrometry Market Dynamics

Mass Spectrometry Market Drivers

Increase in R&D Activities in Biotech and Pharma Industries

The discovery of potential drug compounds, evaluating their efficacy, understanding their metabolic pathways, and assisting in the development of personalized medicine through patient stratification and biomarker discovery are all made possible by mass spectrometry, which is a key component in the process. In proteomics and genomics research, it is also essential since it allows for the thorough study of proteins and DNA to reveal biological processes, identify treatment targets, and find biomarkers for early illness diagnosis. According to EFPIA, in 2021 the pharmaceutical industry invested more than €42,500 million in R&D in Europe.

 

A total of 69 novel active substances (NASs) were launched globally in 2023, 6 more than the prior year, and including 24 first-in-class launches in the U.S. Spending on R&D and the introduction of new drugs have both increased in the past two decades which drives the Mass Spectrometry Market. Modern proteomics workflows use artificial intelligence (AI) technology, which can be utilized to extract valuable information from clinical proteomics data.

 

• In June 2023, Thermo Fisher Scientific, Inc. introduced the Thermo ScientificTM, OrbitrapTM, and AstralTM mass spectrometer. The Astral analyser enables researchers to effectively identify proteins, leading to ground-breaking discoveries for clinical biomarkers, diseases, and therapies.
• According to the EU’s Industrial R&D Investment Scoreboard, health industries invested about €235.3 billion in R&D in 2021, accounting for 21.5% of total business R&D expenditure worldwide.

 

Food & Beverage Industry to Drive Mass Spectrometry Market

The food and beverage industries are seeing a major increase in the use of mass spectrometers. It is employed in food product quality control and contamination detection. Mass spectrometry ensures food safety and compliance with regulations by identifying and measuring impurities, allergies, and residues. It maintains quality control by keeping an eye on the validity and uniformity of the product and spotting fraud and adulteration. Mass spectrometry helps enhance the process by evaluating product composition and makes it easier to measure macronutrients, micronutrients, and additives accurately for nutrition labeling.

 

Mass spectrometry guarantees food safety and quality by carrying out several essential analyses. These analyses include identifying allergens (gluten, nuts, dairy), detecting contaminants (pesticides, heavy metals, mycotoxins), confirming the source of food and exposing fraud, measuring vitamins, minerals, and other nutrients for precise labelling, and even identifying and quantifying flavour and aroma compounds. Inductively coupled plasma mass spectrometry—ICP/MS—is a valuable approach for elemental analysis, detecting traces of toxic metals such as lead and arsenic in foods and beverages, which drives the Mass Spectrometry Market

 

• FoodMASST, a search tool for MS/MS spectra (of both known and unknown molecules) against a growing metabolomics food and beverage, FoodMASST utilizes this reference dataset to determine the food/beverage items containing a query spectrum and to contextualize the molecule’s presence across foods.
• The FDA has established an action limit for inorganic arsenic in apple juice of 10 μg/kg (ppb), however, there are no regulations controlling the arsenic content of wine in the US. Europe (International Organisation of Vine and Wine, OIV) has set maximum acceptable limits for total arsenic in wine of 100 µg/L (ppb), and Canada (Vintners Quality Alliance VQA, Ontario) has set a limit of 200 µg/L (ppb).

 

Mass Spectrometry Market Challenges

High Cost Associated with Mass Spectrometer Devices

Mass spectrometers are expensive due to several factors, including their relatively low production volume in comparison to other analytical instruments, their complex technology involving high-quality components and advanced engineering, and their ongoing need for research and development to expand applications and improve performance. The high capital expenditure needed to build and maintain spectrometer equipment will hamper the growth of the spectrometry market. Spectrometers are very expensive for small diagnostic labs and clinics.

 

Consumables are expensive, such as kits for sample preparation. The average price for a mass spectrometer in the U.S. ranges from several thousand to over 100000 USD. Another significant barrier is the expense of recruiting and keeping the skilled workers required to run and maintain these systems. Due to these barriers, mass spectrometry systems and services are not widely used, which restricts the Mass Spectrometry Market growth.

 

• MALDI-TOF (Matrix-Assisted Laser Desorption/Ionization Time-of-Flight) is typically priced between USD 50,000 and USD 1,000,000, Whereas Q-TOF (Quadrupole Time-of-Flight) ranges from approximately USD 100,000 to USD 1,000,000 and Fourier Transform (FT-MS) high-end models cost anywhere from USD 150,000 to USD 2,500,0001.

 

Mass Spectrometry Market Segment Analysis

Based on End Users, the pharmaceutical industries segment dominated the Mass Spectrometry Market in 2023 with a share of XX%. The pharmaceutical business depends on mass spectrometers for a variety of reasons, including complex molecular analysis, extensive research and development, and regulatory compliance. The complex characteristics of medicinal substances demand the advanced functionalities of mass spectrometry for impurity profiling and characterization. Pharmaceutical R&D is being revolutionized by genomics, bioinformatics, artificial intelligence (AI), and machine learning.

 

By evaluating large datasets to find potential drug targets and enhance lead compounds, artificial intelligence (AI) and machine learning accelerate the process of drug discovery. Personalized medicine and targeted therapeutics are emerging as a result of greater knowledge of the genetic makeup of diseases made possible by genomics and bioinformatics. Shimadzu is the key player in the Mass Spectrometry Market AI used for Shimadzu’s parameter-free algorithm was trained on 70,000 pieces of data from chromatograms, allowing it to automatically define baseline and threshold values for every application. In automatic peak detection and visual correction, Shimadzu’s Peakintelligence completes the process in 10 minutes, roughly a third of the timespan necessary for other software. 

 

• Shimadzu’s Peakintelligence Version 2 software is equipped with algorithms developed using AI for liquid chromatography with tandem mass spectrometry (LC-MS/MS)., it quickly, reliably, and automatically detects peaks appearing in chromatograms. Peakintelligence Version 2 of the software has been developed in collaboration with Fujitsu Limited, and is five times faster than in its previous iteration, Toyama reported. This means it can process approximately 600 chromatograms in 15 seconds – a task that previously required 75 seconds.

 

Mass Spectrometry Market Regional Insights

North America dominated the market and accounted for an XX% share in 2023 due to well-established research and development infrastructure, early adoption of cutting-edge technologies, a strong pharmaceutical and biotechnology industry, and the presence of important market players like Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, and Danaher Corporation (SCIEX). The established biotechnology and pharmaceutical industries in the region are major consumers of mass spectrometry equipment, which fuels the need for advanced analytical instruments and a robust environment for research and development encourages ongoing innovation and mass spectrometry technology implementation these factors drive the growth of Mass Spectrometry Market in North America.

 

• According to Europe, the top 2500 companies include 361 companies based in the EU, accounting for 17.6% of total R&D investment, 822 U.S. companies (40.2%), 678 Chinese companies (17.9%), 233 Japanese companies (10.4%) and 406 from the rest of the world (RoW, 13.9% of R&D). The RoW group comprises companies from South Korea (53), Switzerland (55), the UK (95), Taiwan (84), and companies based in a further 18 countries.

 

The Asia Pacific region is expected to witness the highest growth rate in the Mass Spectrometry Market. The strong economic expansion in the Asia Pacific area drives up investments in research, healthcare, and industrial development, which ultimately increases demand for advanced analytical instruments like mass spectrometers. The expanding biotechnology and pharmaceutical industries in nations like China and India. Governments in the region are implementing stronger restrictions due to a growing focus on food safety and quality, which is propelling the adoption of mass spectrometry-based food testing. The presence of important market players like Shimadzu Corporation and JEOL Ltd. drives the Mass Spectrometry Market.

Mass Spectrometry Market Scope

Mass Spectrometry Market
Market Size in 2023	USD 5.6 billion
Market Size in 2030	USD 9.41 billion
CAGR (2024-2030)	7.7%.
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Mass Spectrometry Market Segments	By Product Instruments Hybrid Mass Spectrometry Triple Quadrupole Quadrupole ToF (Q-ToF) Single Mass Spectrometry Quadrupole Time-Of-Flight (ToF) Ion Trap Software & Services
	By Sample Preparation Technique GC-MS LC-MS ICP-MS Others
	By Application OMICS Research (Genomics, Proteomics and Metabolomics) Drug Discovery Environmental Testing Food Testing Pharma-Biopharma Manufacturing Clinical Diagnostics Applied Industries Other Applications
	by End User Pharmaceutical Industries Biotechnology Companies Research Labs & Academic Institutes Environmental Testing Labs F&B Industry Forensic Labs Petrochemical Industry

 

Mass Spectrometry Market by Region

North America (United States, Canada, and Mexico)

Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)

Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)

South America (Brazil, Argentina, Rest of South America)

 

Mass Spectrometry Market Key Players

• Thermo Fisher Scientific
• Agilent Technologies
• Waters Corporation
• Danaher Corporation (SCIEX)
• Bruker Corporation
• Shimadzu Corporation
• PerkinElmer
• JEOL Ltd.
• Leco Corporation
• Analytik Jena
• MKS Instruments