SINGAPORE, July 19, 2016 /PRNewswire/ -- Innovations in mass spectrometry technologies, coupled with rising application in the life sciences and clinical analysis sectors, are creating rich opportunities for mergers and acquisitions in the global market. Mass spectrometry vendors will be keen to partner with clinical diagnostic companies to widen the market for new products that can quantify low trace levels of disease biomarkers.
New analysis from Frost & Sullivan, Analysis of the Global Mass Spectrometry Market (http://www.frost.com/sublib/display-report.do?id=P8DD-01-00-00-00&src=PR), finds that the market earned revenues of US$3.02 billion in 2015 and estimates this to reach US$5.03 billion by 2022. The market is moving away from traditional systems to high-resolution technologies such as the Quadrupole-Time of Flight (Q-TOF) mass spectrometry. The Matrix Assisted Laser Desorption/Ionization (MALDI)-TOF segment is expected to grow rapidly due to its benefits of improved resolution, accuracy and sensitivity for clinical diagnostic applications.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/PR_MTan_Spectrometry_Jul16
Miniaturization of the instruments has been an important innovation in the mass spectrometry market, as it allows the instrument to be used outside of the laboratory environment for applications such as the testing of water quality and oil exploration. To stay relevant, vendors need to continually launch such novel products as well as aid end users make a seamless transition from traditional systems to high-end instruments.
"Currently, North America leads the global market due to the presence of a large number of pharmaceutical and biotechnology companies," said Frost & Sullivan Measurement & Instrumentation Industry Analyst Krishnan Ramanathan.
"However, Asia-Pacific holds the greatest potential due to the increasing government funding, business expansion activities by major players, and enhanced adoption by pharmaceutical and life science sectors," he noted.
Furthermore, mature markets such as North America and Europe are likely to outsource a substantial number of R&D activities in the pharmaceutical industry to emerging regions such as Asia-Pacific and Rest-of-the-World (RoW). Africa and Latin America are expected to grow at a steady pace as countries in these RoW regions have shown considerable interest in research and obtaining funds.
Meanwhile, stringent safety regulations will drive the adoption of mass spectrometry in the pharmaceutical, environmental, and food & beverage testing industries. The Pharmaceuticals, Biotechnology/Biopharmaceuticals segment, which comprises pharmaceutical companies, biotechnology companies and contract research labs, contributed the most revenue towards sales due to their intensified focus on research and testing.
"The most successful companies are likely to be solution providers rather than stand-alone instrument or software providers," noted Ramanathan.
"It is critical for advanced technologies to be bundled with service and support, as customers may not have the expertise to operate the high-resolution instruments," he explained.
Overall, the escalating adoption of mass spectrometry in clinical diagnostics, applied testing in emerging economies and its expanding use in the pharmaceutical industry will ensure rapid market growth, despite the long replacement cycles.
Analysis of the Global Mass Spectrometry Market is part of the Test & Measurement (http://ww2.frost.com/research/industry/measurement-instrumentation/test-measurement) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Portable and Handheld Analytical Instrumentation Market, Radio Access Networks (RAN) Capacity Planning and Management Market, Global Wireless Test Equipment Market, New Competition for the Global Test and Measurement Market in IoT Wireless Technologies, Emerging Opportunities in Global Analytical Instrumentation Services & Support Market, and Calibration and Repair Services Market in Europe. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Analysis of the Global Mass Spectrometry Market
P8DD-30
Contact:
Carrie Low
Corporate Communications -- Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Melissa Tan
Corporate Communications -- Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com
