Mass Spectrometry Market Trends Report | Size, Share & Forecasts 2030

[Research Report] The mass spectrometry market size was US$ 4.88 billion in 2022, and the mass spectrometry market size is projected to reach US$ 8.19 billion by 2031. It is expected to register a CAGR of 6.7% in 2022-2031.

Market Insights and Analyst View:

Mass spectrometry is an analytical method used to evaluate the mass-to-charge ratio (m/z) of one or more molecules present in the sample. Such measurements may also be used to decide the exact molecular weight of the sample components. Mass spectrometry is also used to determine a compound's molecular mass and indirectly help establish the identity of isotopes. Increasing drug discovery activities, increasing strategic initiatives by companies, increasing adoption of precision medicines, and increasing clinical activities are fueling the market's growth.

Future Trends and Growth Drivers:

Precision medicine is an emerging practice that utilizes a patient's genetic profile to guide disease prevention, diagnosis, and treatment decisions. Knowledge of a patient's genetic profile can help doctors select the appropriate medication or therapy and administer it using the appropriate dose or regimen. The Human Genome Project was perhaps one of the most important steps towards personalized medicine. In short, it paved the way for medicine to become preventative rather than reactive. Published in 2003, the full sequence of the human genome allowed scientists and clinicians to identify the genetic variations of thousands of diseases ‒ an approach known as genomics. It also paved the way for fast, cheap, and accurate DNA and RNA sequencing, placing genomics at the core of research and treatment efforts for various human diseases. Advances in mass spectrometry (MS)--based disease biomarker discoveries are continuously expanding the clinical diagnostic landscape. Although many MS-based in vitro diagnostics have already been adopted in routine clinical practices, more are expected to transition from bench to bedside in the near future. The ultrahigh sensitivity, specificity, and low turnaround time in molecular detection by MS make this technology highly powerful in disease detection and therapy monitoring.

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Mass Spectrometry Market: Strategic Insights

Mass Spectrometry Market

• Market Size 2023
  US$ 5.21 Billion
• Market Size 2031
  US$ 8.75 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technology

• Simple
• Hybrid

Application

• Proteomics
• Metabolomics
• Environmental Analysis
• Pharmaceutical Analysis
• Forensic Applications
• Clinical Applications

End Users

• Pharmaceutical and Biotechnology Companies
• Research Labs and Academic Institutes
• Environment Testing Labs
• Food And Beverage Industry
• Forensic Labs

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Report Segmentation and Scope:

The “Global Mass Spectrometry Market” segmentation is done on the basis of application, technology, end-user, and geography. The mass spectrometry market, by technology, is divided into single, hybrid, and others. Based on a single technology, the market is segmented into ion trap, quadrupole, time of flight, and others. Further, on the basis of hybrid technology, the market is segmented into triple quadrupole (Tandem), Quadrupole TOF, and Fourier transform mass spectroscopy. Based on application, the market is segmented into proteomics, metabolomics, environmental analysis, pharmaceutical analysis, forensic applications, clinical applications, and others. The mass spectroscopy market is divided into pharmaceutical and biotechnology companies, environment testing labs, research labs and academic institutes, the food and beverage industry, forensic labs, and others based on end users. The market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, UAE, Saudi Arabia, and the Rest of Middle East & Africa), and the South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Segmental Analysis:

Based on technology, the mass spectrometry market is segmented into single, hybrid, and more. Based on a single technology, the market is segmented into ion trap, quadrupole, time of flight, and others. Further, on the basis of hybrid technology, the market is segmented into triple quadrupole (Tandem), quadrupole TOF, and Fourier transform mass spectroscopy. In 2022, the hybrid technology segment, by technology, held the largest market share of the mass spectrometry market. Moreover, the same segment is expected to grow at the highest CAGR from 2022 to 2031. Increasing product launches with hybrid mass spectrometry to improve the results of the mass spectrometry devices is mainly fueling the growth of the segment. For instance, in June 2022, Agilent Technologies launched several LC/MS and GC/MS quadrupole mass spectrometers. The Agilent 6475 triple quadrupole LC/MS system, 5977C GC/MSD, plus the 7000E GC/TQ and the 7010C GC/TQ represent the latest revolution in Agilent’s 50-plus year history in mass spectrometry. These new GC/TQ and LC/TQ products have built-in instrument intelligence, simplifying lab operations.

Similarly, in March 2022, bioMerieux received Food and Drug Administration (FDA) 510(k) for VITEK MS PRIME new MALDI-TOF mass spectrometry identification system. VITEK MS PRIME is a compact benchtop system designed to boost laboratory productivity for a greater impact on patient care. VITEK MS PRIME increases Antimicrobial Stewardship (AMS) efficiency and more effective patient therapy. These product launches and the growing focus of companies on combining technologies for proper output are fueling the growth of the hybrid technology segment.

Based on application, the mass spectrometry market is segmented into proteomics, metabolomics, environmental analysis, pharmaceutical analysis, forensic applications, clinical applications, and others. In 2022, the pharmaceutical analysis segment held the largest mass spectrometry market share. However, the clinical analysis segment is anticipated to grow at the highest CAGR during 2022-2031. Mass spectrometry in pharmaceutical analysis is used for drug discovery and absorption, distribution, metabolism, and elimination (ADME) studies, pharmacokinetic and pharmacodynamic analyses, metabolite screening, and preclinical development. Mass spectrometry is a powerful tool that significantly contributes to various stages of drug discovery, a multifaceted process that includes the design, identification, and validation of potential therapeutic compounds. At the outset, during the hit identification phase, mass spectrometry is employed in high-throughput screening. This process aims to pinpoint compounds with potential therapeutic effects. The speed and precision of mass spectrometry make it an ideal tool for rapidly identifying these promising compounds. Once these potential drugs are identified, they undergo a process called hit-to-lead optimization. This involves subtle modifications to their chemical structures to enhance potency and selectivity. At this juncture, mass spectrometry provides valuable insights into the structure of the compounds and the impact of any alterations on their properties. In addition to this, mass spectrometry is also pivotal in target identifications and validations. In the realm of drug discovery, understanding the mechanism of action of a compound is as important as knowing its effect. Protein-ligand binding studies are typically employed for this purpose, and the high-resolution capabilities of mass spectrometry allow for detailed characterization and identification of the target and its interaction with the ligand.

Regional Analysis:

Based on geography, the mass spectrometry market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, the North American mass spectrometry market held the biggest share of the global mass spectrometry market. The Asia Pacific mass spectrometry market is estimated to show the highest CAGR during the forecast period. The market for mass spectrometry in the North American region is also likely to grow with the presence of various key players. In addition, the adoption of digital tools in healthcare operations for improving quality and reducing costs simultaneously is also responsible for augmenting the growth of this market in the region. In North America, the US is the largest market for mass spectrometry. The growth of the mass spectrometry market is primarily driven by the increasing adoption of drug ADME testing using mass spectrometry, the increasing adoption of hybrid mass spectrometry devices in healthcare facilities for analysis, and support from the federal government to implement digital tools in healthcare.

According to the Food and Drug Administration (FDA) report, US customers benefit from having access to the most advanced and safest pharmaceutical system in the world. For example, the main consumer base in this system is the Center for Drug Evaluation and Research (CDER), aiming to evaluate new drugs before they can be sold. Additionally, a laboratory located in the US is only permitted to participate in Department of Transportation (DOT) drug testing if it is certified by Human Health Services (HHS) under the National Laboratory Certification Program (NLCP). Further, the National Institute of Health (NIH) report states that drug development, from initial discovery to final medication, is a lengthy, expensive, and incremental process. In addition, the US FDA states that it takes about 12 years for an experimental drug to evolve from the initial stage to the final product. The ultimate aim is to identify a molecule with the desired effect on the human body and establish its quality, safety, and efficacy for treating patients. For the record, North American companies invest more than US$20 billion in identifying and developing new drugs, and about 22% is spent on screening assays and toxicity testing, according to the statistics revealed by the NIH report. Mass spectrometry is used at every stage of drug discovery as it can easily track drug activity at every stage. Hence, the increasing focus and investment of the federal government in the drug development process are fueling the growth of the mass spectrometry market in the US.

Industry Developments and Future Opportunities: 

Various programs taken by key players operating in the global mass spectrometry market are listed below:

1. In February 2023, SCIEX collaborated with Beckman Coulter Life Sciences, to provide comprehensive workflows for high-throughput screening, HT-ADME, and synthetic biology studies. Due to this collaboration, the Echo MS system by SCIEX, built on Acoustic Ejection Mass Spectrometry technology, is compatible with the Biomek and Echo liquid handler lines from Beckman Coulter Life Sciences.
2. In February 2022, Bruker Corporation launched the timsTOF MALDI PharmaPulse (timsTOF MPP) system, a new high-end solution for unbiased, deep HTS, and uHTS based on label-free mass spectrometry. The timsTOF MPP features the extreme speed and proven robustness of MALDI and, for the first time in HTS, takes advantage of Bruker´s innovative Trapped Ion Mobility Spectrometry (TIMS) technology. TIMS enables rapid gas-phase separation of isobars, and even isomers, by exploiting the molecular collisional cross-section. Combined with routine 50,000 mass resolution at full speed with QTOF-MS detection, this enables revolutionary levels of assay specificity at HTS speed.

Competitive Landscape and Key Companies:

Some of the mass spectrometry market leaders are Bruker Corporation, bioMerieux, Agilent Technologies, Beckman Coulter Life Sciences, Waters Corporation, Thermo Fisher Scientific, Danaher Corporation, PerkinElmer Inc., SCIEX, Joel, and Jasco Corporation. These companies focus on product launches and expansions geographically to meet the increasing customer demand globally and foster their product range in specialty portfolios. These companies have a widespread worldwide presence, providing them with many customers and increasing their market share. The report offers a trend analysis of the mass spectrometry market emphasizing on various parameters such as market dynamics, technological advancements, and competitive landscape analysis of leading market players across the globe.

Mass Spectrometry Market Report Scope