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What is the Future CAGR of the Mass Spectrometry Market, and How Will It Impact Industry Expansion?

Over the previous years, the market size for mass spectrometry has significantly expanded. By 2025, it is forecast to increase from $6.65 billion in 2024 to $7.22 billion, exhibiting a compound annual growth rate (CAGR) of 8.6%. The historic period growth can be credited to factors like regulatory compliance, escalated investment in research and development, heightened demand in pharmaceuticals and biotechnology, environmental surveillance, and clinical diagnostics, which have all played significant roles in shaping this growth.

Anticipations of a swift expansion in the mass spectrometry market are building up, with its worth expected to surge to “$10.7 billion by 2029, following a compound annual growth rate (CAGR) of 10.3%. This growth, expected over the prediction period, is attributed to factors such as the increase in healthcare outlays, the broadening scope of deployment in food safety, the acceptance across emerging markets, advancements in precision medicine, and collaborations across industries. The forecast period will also see major trends like improvements in ionization techniques, an expanding footprint in food and beverage testing, collaboration in multi-omics research, improved data accessibility, and the advent of cloud-based solutions.

What Are the Primary Drivers Supporting the Growth of the mass spectrometry Market?

The escalation in chronic disease cases is anticipated to bolster the expansion of the mass spectrometry market. A chronic disease is typically long-lasting, with a duration of at least three months, and tends to worsen over time. Techniques of mass spectrometry aid in the identification, quantification, and analysis of biomarkers and metabolites related to chronic ailments. In September 2022, the World Health Organization, a United Nations specialized agency based in Switzerland, reported 41 million deaths globally, constituting 74% of total deaths from non-communicable diseases or chronic illnesses. These figures included 17.9 million deaths due to cardiovascular diseases, 9.3 million sparked by cancer, 4.1 million attributable to chronic respiratory disorders, and 2.0 million as a result of diabetes. In addition, a 2023 report by National Institutes of Health (NIH), a US-based organization performing biomedical research, forecasted an upsurge in the population of individuals aged 50 or more with at least one chronic disease, expected to reach approximately 142.66 million by 2050. Consequently, the rising incidence of chronic diseases is fueling the growth of the mass spectrometry market.

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What Are the Top Market Players Propelling the Growth of the Mass Spectrometry Industry?

Major companies operating in the mass spectrometry market include:

• Agilent Technologies Inc._x000D_

• Bruker Corporation_x000D_

• JEOL Ltd._x000D_

• LECO Corporation_x000D_

• PerkinElmer Inc._x000D_

What Are the Key Trends to Watch in the Mass Spectrometry Market Over the Coming Years?

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What Are the Major Categories and Their Growth Dynamics in the Mass Spectrometry Market?

The mass spectrometry market covered in this report is segmented –

1) By Technology: Hybrid Mass Spectrometry, Single Mass Spectrometry, Inductively Coupled Plasma Mass Spectrometry (ICP-MS)

2) By Application: Life Science Research, Drug Discovery, Environmental Testing, Food Testing, Applied Industries, Clinical Diagnostics, Other Applications

3) By End User: Pharmaceutical Industry, Biotechnology Industry, Research And Academic Institutes, Environmental Testing Industry, Food And Beverage Testing Industry, Petrochemical Industry, Other End Users

Subsegments:

1) By Hybrid Mass Spectrometry: Quadrupole Time-of-Flight (QTOF), Orbitrap Mass Spectrometry, Triple Quadrupole Mass Spectrometry

2) By Single Mass Spectrometry: Time-Of-Flight (TOF), Quadrupole Mass Spectrometry, Ion Trap Mass Spectrometry, Inductively Coupled Plasma Mass Spectrometry (ICP-MS)

3) By ICP-MS: Quadrupole ICP-MS, Sector Field ICP-MS, High-Resolution ICP-MS

What Regions Are Dominating the Mass Spectrometry Market Growth?

North America was the largest region in the mass spectrometry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the mass spectrometry market size forecast period. The regions covered in the mass spectrometry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Do Experts Define the Scope of the Mass Spectrometry Market?

Mass spectrometry is an analytical technique to identify and quantify molecules based on the mass-to-charge ratio. It involves ionizing a sample, separating the ions based on mass-to-charge ratio, and detecting them to generate a mass spectrum.

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