Clinical Mass Spectrometry Market Report

Market Insights

The Global Clinical Mass Spectrometry Market is projected to grow from USD 785.6 million in 2020 to USD 1,242.3 million by 2026 at a CAGR of over 7.9% during the forecast period.

Figure: Global Clinical Mass Spectrometry Market Size, 2020-2026 (USD Million)

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What is Clinical mass spectrometry?

Clinical mass spectrometry is extensively accepted in specialized clinical laboratories and research labs, and its adoption is substantially growing in routine laboratories. The combination of mass spectrometry with liquid chromatography (LC) or gas chromatography (GC) has contributed to the rapid expansion of this technology. Mass spectrometry has widespread application in many clinical areas such as therapeutic drug monitoring, clinical toxicology, and drugs of abuse.

Key Players

Key players operating in the global clinical mass spectrometry market are-

• Bruker (The U.S),
• Thermo Fisher Scientific Inc. (The U.S),
• Danaher (The U.S),
• Agilent Technologies (The U.S),
• PerkinElmer Inc. (The U.S),
• Shimadzu Corporation (Japan),
• Kore Technologies (India),
• BME Bergmann (Netherlands),
• Mass Spectrometry Instruments (The U.S), and
• Photonics GmbH (The U.S).

Market Dynamics

The global clinical mass spectrometry market is likely to be driven by a rapid increase in technological developments in spectrometry, advancement of healthcare technologies, and growing R&D investments.

Further, growing developments in the developing countries, as well as grants & funds provided by the government organizations, provide lucrative growth opportunities to the market players. However, the capital investment associated with the maintenance and installation of these devices is likely to impede market growth.

Segment Analysis

Application Trends

Based on application, the global clinical mass spectrometry market has been categorized into drug discovery, clinical testing, and proteomics.

• Among these, the clinical testing segment garnered the highest market share in 2020 and is likely to register a healthy CAGR during the review period.
• Liquid chromatography-mass spectrometry is a key mass spectrometry-based technique used in clinical testing laboratories owing to its high selectivity and ability to measure multiple analytes in a single method, thus augmenting the segment growth.

Regional Trends

By region, the market in North America witnessed the highest market share in 2020 and is projected to grow at a robust CAGR during the review period.

• This can be attributed to rising healthcare expenditure, strong research and development activities coupled with governmental support, the presence of drug discovery companies, and the presence of a large number of major healthcare companies, promulgate the product region in the region.

COVID-19 Impact on Global Clinical Mass Spectrometry Market

The ongoing COVID-19 pandemic has positively influenced the clinical mass spectrometry industry.

• Due to a surge in the coronavirus cases across the globe coupled with increasing strain on government and healthcare companies to provide drugs and vaccines to prevent and cure the patients, boosts the product demand.
• As clinical mass spectrometry is widely used in drug discovery in pharmaceutical industry and in clinical testing, it will witness a significant growth during the pandemic period.

Critical Questions Answered in the Report

• What are the key trends in the global clinical mass spectrometry market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of the COVID-19 on global clinical mass spectrometry market?
• What are the key strategies adopted by the major vendors to lead in the global clinical mass spectrometry market?
• What is the market share of the top vendors?

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Target Audience

• Clinical mass spectrometry companies
• Hospitals
• Diagnostic centers and laboratories
• Academic Institutions
• Research centers & organizations

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].