Mass spectrometry measures the mass-to-charge ratio of ions. It is used to study pharmacokinetics. Mass spectrometry also finds application in proteomics and genomics, owing to its ability to detect, identify and quantitate molecules based on their mass-to-charge (m/z) ratio.
The global spectrometry market is estimated to account for US$ 18,897.37 Mn in terms of value in 2020 and is expected to reach US$ 30,801.38 Mn by the end of 2027.
Global Spectrometry Market: Drivers
Increasing prevalence of metabolic disorders is expected to propel growth of the global spectrometry market over the forecast period. For instance, according to Summary of the Cystic Fibrosis Foundation Patient Registry, 2003–2018, the number of people with cystic fibrosis increased from 21,421 in 2003 to 30,775 in 2018.
Global Spectrometry Market: Opportunities
Mass spectrometry can be used in characterization of the coronavirus infectious. Thus emergence of the Covid-19 pandemic is expected to offer lucrative growth opportunities for players in the global spectrometry market. For instance, as of May 12, 2020, there have been 4,098,018 confirmed cases of COVID-19, including 283,271 deaths worldwide as reported to the World Health Organization.
Global Spectrometry Market: Restraints
Mass spectrometry has some limitations, which is expected to hinder growth of the market. It is challenging to distinguish between compounds, which have the same molecular formula using mass spectrometry and between isomers of a compound having the same charge-to-mass (m/z) ratio.
The global spectrometry market was valued at US$ 17,637.5 Mn in 2019 and is forecast to reach a value of US$ 30,801.3 Mn by 2027 at a CAGR of 6.3% between 2020 and 2027. Major factor driving the growth of global Spectrometry market during the forecast period include increasing metabolomics, and increasing research and development of drugs.
Mass Spectrometry held dominant position in the global spectrometry market in 2019, accounting for 36.4% share in terms of value, followed by Molecular Spectroscopy and Atomic Spectroscopy, respectively. One of the major applications of the mass spectrometer include drug testing and food contamination detection. The governments are implementing strict laws against the drug use and food contamination
Spectrometry is combined with other techniques during protein complex analysis. For instance, in April 2020, researchers at the Stowers Institute for Medical Research reported combination of three approaches -- affinity tag protein purification, chemical crosslinking with high-resolution mass spectrometry, and computational molecular modeling with protein docking to demonstrate surfaces within large multi-protein complexes.
Spectrometry can also be used to identify multiprotein complexes. For instance, in April 2020, researchers from Pennsylvania State University, U.S., reported use of metabolomics and mass spectrometry imaging to demonstrate the presence of metabolons, multiprotein complexes consisting of sequential enzymes of a metabolic pathway.
Global Spectrometry Market: Competitive Landscape
Major players operating in the global spectrometry market include, Affymetrix Inc. (Thermo Fisher Scientific), Adeptrix Corp., Analytik Jena AG, Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, Illumina Inc., Life Technologies Corp., Perkin Elmer Inc., Siemens Healthcare, and Waters Corporation.
Global Spectrometry Market: Key Developments
September 2019: Bruker Corporation collaborated with Murdoch University for R&D in prevention and diagnosis of diseases through the Australian National Phenome Center, the international center of expertise for metabolic phenotyping.
June 2019: Thermo Fisher Scientific Inc. acquired HighChem, Ltd., a developer of mass spectrometry software based in Bratislava, Slovakia