Mass Spectrometry Market Size, Growth, Trends | Report 2022-2030
The global mass spectrometry market was surpassed at USD 5.9 billion in 2021 and is expected to hit around USD 11.6 billion by 2030, growing at a CAGR of 7.8% from 2022 to 2030.
Report Highlights
Rising awareness regarding early detection of chronic and infectious diseases and emerging technological advancements in diagnostic instruments are expected to significantly drive the market growth. In addition, there has been an increase in demand for cost-effective and automated techniques for disease diagnosis which is anticipated to increase the demand for mass spectrometry techniques and positively affect the growth.
The COVID-19 pandemic has boosted the demand for vaccine development due to recent advancements in virology-based research. Here, mass spectrometry has applications for the study of viral structure for SARS-CoV-2. The technique can also be used to study complex protein structures and protein-protein interactions associated with the virus. Hence, various pharmaceutical and biotechnology companies involved in COVID-19 vaccine and drug development efforts are anticipated to increase the demand for instruments and consumables.
In addition, various academic institutions and companies are indulging in product development strategies to support the demand for mass spectrometry from the proteomic market. For instance, in September 2022, the director of Northwestern’s Proteomics Center of Excellence published a paper on the development of a new imaging approach to enhance the identification of intact proteoforms. The team of researchers has built a Proteoform Imaging Mass Spectrometry (PiMS) system which is anticipated to assist mass spectrometry in various applications, including the detection of novel biomarkers, mapping of molecular tissue, and improvement in disease diagnosis.
Similarly, in October 2022, Thermo Fisher Scientific, Inc. announced the launch of mass spectrometry consumables and instrument that allows end-users in proteomics and biopharma to achieve significant breakthroughs. The instrument, known as Thermo Scientific Orbitrap Ascend Tribrid mass spectrometer, provides a new capability to direct multiple ions and enables to gain deeper insights into samples, along with rapid detection.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 5.9 billion |
| Revenue Forecast by 2030 | USD 11.6 billion |
| Growth rate from 2022 to 2030 | CAGR of 7.8% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, technology, application, end-use, region |
| Companies Covered |
Thermo Fisher Scientific, Inc.; Agilent Technologies, Inc; Danaher Corporation; Waters Corporation; BrU.K.er Corporation; Shimadzu Corporation; PerkinElmer, Inc.; Rigaku Corporation; LECO Corporation; JEOL Ltd. |
Product Insights
The instruments segment held the largest revenue share of 77.74% in 2021. Spectrometers offer a wide range of applications in the biotechnology sector and are witnessing rising awareness about the benefits of mass spectrometry workflows. These instruments can be used in clinical and preclinical testing for drug discovery as well as for biomedical research in the pharmaceutical industries.
For instance, high-resolution hybrid mass spectrometry can be used in the development of cell therapies for cancer treatment. Over the past few years, the technique has become important for proteomics-based research applications such as the determination of the molecular mass of peptides, and peptide sequences. Such advancements in mass spectrometry applications are anticipated to fuel the segment.
The consumables & services segment is projected to record a rapid CAGR over the forecast period due to the increasing demand for such products from various academic institutions and research centers. Such institutions offer researchers access to mass spectrometry systems in their labs at a nominal cost, and in turn, drive the demand for consumables. In addition, revenue from services such as maintenance and analytical testing is expected to grow with the increasing adoption of the technique for various academic and pharmaceutical research and development activities.
Technology Insights
Quadrupole liquid chromatography-mass spectrometry led with the largest share of 36.33% in 2021. Demand for this technology has grown significantly in the past few years due to the advantages offered by the technique. For instance, the triple quadrupole technology is one of the essential analytical techniques for clinical research analysis and can measure trace levels of biomarkers in complex matrices of biological fluids. Several key players have established offerings in this domain. For instance, Waters Corporation, a leading producer of this technology, offers mass spectrometry products used for the characterization of biomolecules for application in biotherapeutics, metabolomics, extracts, and leachable.
The Fourier transform-mass spectrometry (FT-MS) is the fastest-growing segment and is expected to grow at a CAGR of 8.78% over the forecast period. This can be attributed to the high resolving power, minimal error rate, high accuracy, and ease of operations offered by the technique. The technology also has applications in forensic laboratories for the identification of drugs and contraband substances such as cocaine. Such a broad range of applications can open new avenues for the growth of the segment in the coming years.
Application Insights
The proteomics segment held the largest revenue share of 46.36% in 2021. Mass spectrometry-based proteomics research is a comprehensive technique for quantitative profiling of proteins and studying protein-protein interactions. Advancements and the widespread availability of quantitative proteomics workflows have expanded the scope for studying protein function, structure, transformation, and overall protein dynamics.
In addition, developments in mass spectrometry technology are opening opportunities in single-cell analysis and clinical applications. The technology is anticipated to establish a strong position in various applications, including detecting novel biomarkers, mapping molecular tissue, and improving disease diagnosis. Such advancements are likely to fuel the growth prospects for the mass spectrometry market.
Metabolomics is projected to be the fastest-growing segment over the forecast period due to the wide range of applications of mass spectrometry in cancer screening and diagnosis. The technique can be used to study a vast number of compounds in a single sample which enables the analysis of multiple sample constituents in a single run. As metabolomics is gaining traction as an important omics technology for diagnostic and prognostic applications in several chronic and infectious diseases, the segment is expected to witness significant growth.
End-use Insights
The pharmaceutical and biotechnology companies segment dominated the market in 2021 due to the extensive adoption of protein sequencing using mass spectrometry in the pharmaceutical industry for drug discovery and development processes. The growing demand for biomolecule analysis and drug component analysis is expected to further drive the segment growth for the market. With increasing investments in biopharmaceutical research and growth in research and development prospects in the proteomics domain, the segment is expected to witness lucrative growth in the coming years.
Government & academic institutions segment is expected to grow at a rapid CAGR over the forecast period due to the rise in healthcare expenditure, global increase in government funding for research activities, and increasing role of mass spectrometry techniques for disease surveillance and epidemiological research. Similarly, growth in COVID-19 testing activities and opportunities for the development of high throughput testing methods can considerably boost the market prospects.
Regional Insights
North America accounted for the largest market share in 2021 due to the high extent of research and development activities and the presence of an established research and healthcare infrastructure. Similarly, demand for mass spectrometry is also driven by increasing focus on disease prevention measures in the region. Furthermore, government funding in the region is considerably strong and is likely to fuel market growth. For instance, UniProt, a free-of-cost portal for obtaining protein sequencing and functional information is supported by various government institutions, including the National Eye Institute, National Heart, Lung, and National Human Genome Research Institute.
The Asia Pacific region is expected to grow at the fastest CAGR over the forecast period due to the availability of a large population and rising focus on healthcare systems. Similarly, the rising attention drawn by proteomics and genomics research, as well as the increase in initiatives undertaken by academic institutions for the development of protein-based therapeutics have presented significant growth opportunities for the market in the Asia Pacific region.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Mass Spectrometry Market
5.1. COVID-19 Landscape: Mass Spectrometry Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Mass Spectrometry Market, By Product
8.1. Mass Spectrometry Market, by Product, 2022-2030
8.1.1. Instruments
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Consumables & Services
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Mass Spectrometry Market, By Technology
9.1. Mass Spectrometry Market, by Technology, 2022-2030
9.1.1. Quadrupole Liquid Chromatography-Mass Spectrometry
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Gas Chromatography-Mass Spectrometry (GC-MS)
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Fourier Transform-Mass Spectrometry (FT-MS)
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Time-of-Flight Mass Spectrometry (TOFMS)
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Matrix-Assisted Laser Desorption/Ionization-Time-of-Flight Mass Spectrometry (MALDI-TOF)
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Magnetic Sector Mass Spectrometry
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Mass Spectrometry Market, By Application
10.1. Mass Spectrometry Market, by Application, 2022-2030
10.1.1. Proteomics
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Metabolomics
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Glycomics
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Mass Spectrometry Market, By End-use
11.1. Mass Spectrometry Market, by End-use, 2022-2030
11.1.1. Government & Academic Institutions
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Pharmaceutical & Biotechnology Companies
11.1.2.1. Market Revenue and Forecast (2017-2030)
11.1.3. Others
11.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Mass Spectrometry Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.3. Market Revenue and Forecast, by Application (2017-2030)
12.1.4. Market Revenue and Forecast, by End-use (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.1.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.1.6.3. Market Revenue and Forecast, by Application (2017-2030)
12.1.6.4. Market Revenue and Forecast, by End-use (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.3. Market Revenue and Forecast, by Application (2017-2030)
12.2.4. Market Revenue and Forecast, by End-use (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.2.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
12.2.6.4. Market Revenue and Forecast, by End-use (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
12.2.7.4. Market Revenue and Forecast, by End-use (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.2.8.3. Market Revenue and Forecast, by Application (2017-2030)
12.2.8.4. Market Revenue and Forecast, by End-use (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.3. Market Revenue and Forecast, by Application (2017-2030)
12.3.4. Market Revenue and Forecast, by End-use (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.3.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
12.3.6.4. Market Revenue and Forecast, by End-use (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
12.3.7.4. Market Revenue and Forecast, by End-use (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.3.8.3. Market Revenue and Forecast, by Application (2017-2030)
12.3.8.4. Market Revenue and Forecast, by End-use (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.3. Market Revenue and Forecast, by Application (2017-2030)
12.4.4. Market Revenue and Forecast, by End-use (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.4.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
12.4.6.4. Market Revenue and Forecast, by End-use (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
12.4.7.4. Market Revenue and Forecast, by End-use (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Technology (2017-2030)
12.4.8.3. Market Revenue and Forecast, by Application (2017-2030)
12.4.8.4. Market Revenue and Forecast, by End-use (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
12.5.5.4. Market Revenue and Forecast, by End-use (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Technology (2017-2030)
12.5.6.3. Market Revenue and Forecast, by Application (2017-2030)
12.5.6.4. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 13. Company Profiles
13.1. Thermo Fisher Scientific, Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Agilent Technologies, Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Danaher Corporation
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Waters Corporation
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. BrU.K.er Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Shimadzu Corporation
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. PerkinElmer, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Rigaku Corporation
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. LECO Corporation
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. JEOL Ltd.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers