Mass Spectrometry Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players

The mass spectrometry market size is projected to reach $8.5 billion by 2022, growing at a CAGR 2016-2022.
Based on application, the mass spectrometry market is segmented into drug discovery and development, proteomics, clinical testing, environment, and others. The drug discovery and development segment dominated the mass spectrometry industry, and it is expected to retain its dominance by 2022.
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On the basis of end user, the mass spectrometry market is segmented into pharmaceuticals, life science and biotechnology, academic and research institute, hospitals and others. The pharmaceutical segment dominated the market for mass spectrometry, and it is expected to retain its dominance by 2022.

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Based on type of platform, the mass spectrometry market is segmented into hybrid mass spectrometry, single mass spectrometry, and others. The hybrid mass spectrometry segment dominated the mass spectrometry market, and it is expected to retain its dominance by 2022.

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Europe had the second largest share in the mass spectrometry market in 2015, with 26.0% share. Increasing food safety concern, growing demand in life science & clinical analysis sector and technological advancements are the key growth drivers of the European market. High compliance with international GMP & GDP certification for pharmaceutical excipients has high positive impact on the European market for mass spectrometry. Forensic science and new product development offer ample growth opportunities for the European market.

Germany held the largest share (23.4%) in the European mass spectrometry market in 2015. The major factors driving the growth of the German market are high healthcare expenditure, increasing research and development for drug discovery, increasing demand for clinical testing and increasing environment applications.

The key companies operating in the mass spectrometry market include Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd.

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