In 2018, the global market size of Liquid Chromatography Mass Spectrometry was USD 3.23 Billion, and it is projected to grow at a CAGR of 10.7% over the forecast period. The increase in market demand will be mainly fueled by advances in mass spectrometry technology as well as in liquid chromatography, such as the production of high-performance liquid chromatography that offers exceptionally accurate and sensitive ultra-trace separations.
Increasing funding and healthcare spending incurred by different end-users for research studies and patient care, respectively, are projected to fuel the growth of the market. The increasing emphasis of different companies on delivering quality products that meet government standards will also serve as a catalyst for the growth of the global market. The high levels of investment incurred by the pharmaceutical sector on R&D initiatives for the production of different therapeutics and medicines will also boost the growth of the liquid chromatography mass spectrometry market.
Additionally, the industry growth will be fueled by numerous campaigns and programs coordinated by the authorities of different regions to engage in environmental testing and environmental emission reduction.
Recently, new methods of mass spectrometry, collectively known as data-independent analysis and tracking of hyper response, have been introduced. Comprehensive knowledge about the cancer proteome over the course of the disease is needed to understand the difficulty involved with cancer biology. These methods can prove immensely helpful in this regard. This, in turn, is projected to lead to the development of the industry. However, the high financial cost associated with mass spectrometry systems may restrain the growth of the global liquid chromatography mass spectrometry market.
Global Liquid Chromatography Mass Spectrometry Market, By Type
Based on type, the global liquid chromatography mass spectrometry market has been segmented into single quadrupole LC-MS, triple quadrupole LC-MS, and ion trap LC-MS. The single quadrupole LC-MS segment is projected to lead the segment in 2018, and it is further anticipated to dominate the market over the forecast period.
Global Liquid Chromatography Mass Spectrometry Market, By Sensitivity
Based on sensitivity, the market is segmented into high flow, micro flow, and nano flow. The micro flow segment held the largest share in 2018, owing to the growth in end-use application in the research field, which covers biomarker discovery, proteomics, and environmental analysis.
Global Liquid Chromatography Mass Spectrometry Market, By End-user
Based on end-user, the liquid chromatography mass spectrometry market is segmented into biotechnology and pharmaceutical industry, hospital and research laboratories, and academic and research institutes. The biotechnology and pharmaceutical industry pharmacies segment held the largest share in 2018, owing to the development and increasing innovation in drugs.
Global Liquid Chromatography Mass Spectrometry Market, By Regions
In 2018, North America was predicted to account for the highest market share in the global liquid chromatography mass spectrometry market. The region is expected to dominate the global market throughout the forecast period as well due to the wide usage of mass spectrometry and liquid chromatography in the region, increasing research funding, and rising government initiatives. However, the Asia-Pacific region is expected to register the highest growth in the market during the forecast period, owing to the growth in government investment for the innovation in drug development.
Key Developments in the Global Liquid Chromatography Mass Spectrometry Market
Some Key Findings of the Global Liquid Chromatography Mass Spectrometry Market Report Include:
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
Round the clock analyst support to resolve your queries
Up to 15% additional free customization to meet your specific requirements