Europe Mass Spectrometry Market - Segmented by Type and Application - Growth, Trends and Forecasts (2018 - 2023)
Mass Spectrometry (MS) is an analytical chemistry technique. MS is used to identify the amount and type of chemical species present in a sample by measuring the mass-to-charge ratio and abundance of gas phase ions. The Europe spectrometry market is expected to register a CAGR of 7.2% during the forecast period 2018 to 2023.
Increasing Technological Advancements in Mass Spectrometry
Mass spectrometry is one of the most powerful tools used for the analysis of a wide range of chemical and biological entities. Demand from the life science applications has led to the improvement of MS technologies and the rapid growth of new types of instruments. MS has offered several advantages in the field of proteomics, owing to advances in the technology and the impeccable need for high analytical precision, accuracy, and a wide dynamic range of targeted proteomics. For instance, in recent times, MS for proteomics has been a renaissance of targeted proteomics using the SRM method, as this method offers several advantages, such as specificity, reproducibility, and sensitivity, among others.
High demand and requirements from the pharmaceutical and biotechnology industries is also the key driving factor for some recent advances in mass spectrometry technology.
In the recent years, mass spectrometry has also gained wide recognition as a selective and fast technique for the analysis and assessment of a wide range of food products.
Lack of Skilled Technicians
The substantial growth of the MS industry has resulted in the flourishing demand for technicians with expertise in MS. Despite the advantages offered by mass spectrometry techniques, regardless of technological innovations, the availability of skilled labor is still an issue, as the technology is complex. This is driving the need for new paradigms for data computation and knowledge extraction. Over the past few years, many bioinformatic tools have come into the market, which are being used to support data analysis and interpretation, as this is specific to every type of instrument. The high cost of mass spectroscopy equipment is also restraining the market growth.
Germany to Dominate the Market
The spectrometry market is segmented by type, application, and geography. By geography, it is segmented into Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe.
Germany dominates the mass spectrometry market due to the presence of well-established healthcare facilities, growing food safety concerns, and increased investments for pharmaceuticals. The spectrometry market is expected to grow in the United Kingdom, owing to factors, such as favorable government policies and increased funding, which are propelling the growth of the market.
Major Players: AGILENT TECHNOLOGIES, INC., DANAHER CORPORATION, PERKINELMER, INC., THERMO FISHER SCIENTIFIC, INC., BRUKER CORPORATION, WATERS CORPORATION, SHIMADZU CORPORATION, LECO CORPORATION, DANI INSTRUMENTS SpA amongst others.
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