Global Liquid Chromatography Mass Spectrometry (LCMS) Market, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, Micro Flow, and Nano Flow), by End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) it is expected to be valued at US$ 3,683.7 million in 2019, and is expected to exhibit a CAGR of 12.0% over the forecast period (2019 – 2027), as highlighted in a new report published by Coherent Market Insights.
Increasing research and development expenditure in the healthcare sector and increasing product launches by market players are expected to drive the market growth
Increasing product launches by market players, in order to offer advanced solutions for efficient analysis of samples in the biotechnology and pharmaceutical industry, and other sectors is expected to drive the liquid chromatography mass spectrometry market growth. For instance, in June 2017, Thermo Fisher launched a fully automated analyzer, Cascadion SM clinical analyzer system with selectivity and sensitivity of liquid chromatography-tandem mass spectrometry (LC-MS/MS). The fully automated analyzer can be customized easily to be compatible with the laboratory information systems.
Moreover, initiatives taken by regulatory authorities regarding adoption of LCMS technique for testing and analysis in the biopharmaceutical industry is expected to drive growth of the LCMS market over the forecast period. For instance, in October 2019, the U.S. Food and Drug Administration (FDA) recommended pharmaceutical companies to use Liquid Chromatography-High Resolution Mass Spectrometry (LC-HRMS) for testing N-nitrosodimethylamine (NDMA) in ranitidine products. The NDMA is found to be carcinogenic in nature.
Browse 28 Market Data Tables and 23 Figures spread through 186 Pages and in-depth TOC on ‘Liquid Chromatography Mass Spectrometry (LCMS) Market’- Global Forecast to 2027, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, Micro Flow, and Nano Flow), by End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Furthermore, key players and other organizations are focused on strategic collaborations to offer training programs for researchers, scientists, and other personnel, in order to boost drug discovery in emerging economies. For instance, in August, 2019, Jomo Kenyatta University of Agriculture and Technology (JKUAT), Kenya held a training session for researchers from ten African countries for liquid chromatography mass spectrometry (LC-MS) training, to help analyze live molecules in food, medicine, and organic compounds. The training was co-funded by the Royal Society of Chemistry (RSC) and GlaxoSmithKline (GSK), and the Pan Africa Chemistry Network (PACN).
The key players operating in the market are focused on adopting acquisition and collaboration strategies, in order to expand their product offerings in potential markets. For instance, in September 2019, Thermo Fisher Scientific Inc. and Cedars-Sinai entered a collaboration for developing advanced liquid chromatography mass spectrometry workflows for screening and targeted quantitation of protein-based biomarkers for complicated diseases.
Key Takeaways of the Liquid Chromatography Mass Spectrometry Market:
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