PUBLISHER: BIS Research | PRODUCT CODE: 1524904
PUBLISHER: BIS Research | PRODUCT CODE: 1524904
Global Mass Spectrometry and Chromatography in Diagnostics Market Industry Overview
The global mass spectrometry and chromatography in diagnostics market was valued at $743.1 million in 2023 and is expected to reach $1,863.8 million by 2033, growing at a CAGR of 9.92% between 2024 and 2033. The mass spectrometry (MS) and chromatography markets are critical components of the broader analytical and life sciences instrumentation sector. Both technologies offer sophisticated methods for the separation, identification, and quantification of chemical and biological substances and have been instrumental in driving advances across a variety of fields, including pharmaceuticals, environmental monitoring, diagnostics, and food safety, among others. For diagnostics applications, these technologies are mostly not used in isolation but are integrated into workflows. For instance, liquid chromatography-mass spectrometry combines the separation capabilities of liquid chromatography with the mass analysis power of mass spectrometry. This integration is particularly effective in complex sample analysis, where components need to be separated before their mass and structure can be determined. Such hybrid systems are critical in clinical settings for the high-throughput analysis of patient samples, offering a comprehensive understanding that guides diagnosis and treatment. The key applications of mass spectrometry and chromatography in diagnostics include vitamin profiling and hormone profiling, among others.
Market Introduction
KEY MARKET STATISTICS | |
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Forecast Period | 2024 - 2033 |
2024 Evaluation | $795.9 Million |
2033 Forecast | $1,863.8 Million |
CAGR | 9.92% |
The mass spectrometry and chromatography in diagnostics market is experiencing rapid growth, driven by multiple benefits offered by the technologies as compared to the traditional immunoassays, and continuous technological advancements in these technologies are further advancing their adoption. However, the high cost of acquisition of instrumentations, as well as the dearth of skilled professionals, is expected to hinder the growth of the global mass spectrometry and chromatography in diagnostics market.
Furthermore, there has been a shift toward the utilization of liquid chromatography-tandem mass spectrometry (LC-MS/MS) as a standard technique in diagnostics. The growing preference for LC-MS/MS in diagnostics is driven by its unparalleled analytical advantages, which include exceptional specificity, sensitivity, and the ability to conduct multiplex testing, qualities that are indispensable for complex diagnostic tasks. In addition to this, the integration of automated sample preparation systems in mass spectrometry-based diagnostics marks a pivotal advancement in clinical laboratory operations. This trend will continue to expand, driven by the increasing demands for faster, more accurate diagnostic testing and the ongoing advancements in technology.
Industrial Impact
This technology has a pivotal role in diagnostics applications such as therapeutic drug monitoring, vitamin analysis, hormone profiling, newborn screening, and infectious diseases, among others.
Market Segmentation:
Segmentation 1: by Product Type
Mass Spectrometry and Chromatography Segment to Dominate the Mass Spectrometry and Chromatography in Diagnostics Market (by Product Type)
The mass spectrometry and chromatography segment is poised to dominate the mass spectrometry and chromatography in diagnostics market based on product type. This dominance has been driven by the high cost of the instrumentations of mass spectrometry and chromatography and the recurring use of consumables in diagnostics.
Segmentation 2: by Application Type
Others Segment to Dominate the Mass Spectrometry and Chromatography in Diagnostics Market (by Application Type)
The others segment is positioned to dominate the mass spectrometry and chromatography in diagnostics market by application type. This predominance is largely due to the fact that newborn screening was one of the earliest applications of mass spectrometry and chromatography in diagnostics. These technologies have been integral to this field for a long time, making a significant contribution to the market.
Segmentation 3: by Sample Type
Serum to Dominate the Mass Spectrometry and Chromatography in Diagnostics Market (by Sample Type)
The serum segment is positioned to dominate the mass spectrometry and chromatography in diagnostics market based on sample type due to its suitability for a broad spectrum of applications, from hormone profiling to vitamin analysis. This makes serum an ideal sample type for precise and comprehensive diagnostic tests.
Segmentation 4: by Testing Type
Laboratory-Developed Tests to Dominate the Mass Spectrometry and Chromatography in Diagnostics Market (by Testing Type)
The laboratory-developed tests segment is positioned to dominate the mass spectrometry and chromatography in diagnostics market by testing type. On the other hand, the commercial assay segment is expected to be the fastest-growing segment, with a CAGR of 10.40% in the forecast period 2024-2033.
Segmentation 5: by Region
The global mass spectrometry and chromatography in diagnostics market (by region) has been dominated by North America, which held 45.10% of the market share in 2023 and is anticipated to retain its position in the market during the forecast period. The region boasts an advanced healthcare infrastructure, particularly in the U.S., which facilitates the adoption of cutting-edge medical technologies, including mass spectrometry and chromatography. Additionally, North America is the hub to many leading companies in the mass spectrometry and chromatography in diagnostics market, such as Agilent Technologies, Inc., Thermo Fisher Scientific Inc., and SCIEX (Danaher Corporation), among others whose strong presence and continuous innovation drive growth of the mass spectrometry and chromatography in diagnostics market.
Recent Developments in the Mass Spectrometry and Chromatography in Diagnostics Market
Demand - Drivers, Challenges, and Opportunities
Market Demand Drivers:
Shift from Traditional Methods to Mass Spectrometry and Chromatography in Clinical Diagnostics: The growing shift toward mass spectrometry and chromatography in clinical diagnostics represents a significant growth opportunity for the global mass spectrometry and chromatography in diagnostics market. As laboratories increasingly recognize the limitations of traditional immunoassays, the demand for more precise and efficient diagnostic technologies such as LC-MS/MS is expected to expand even more. This trend has been supported by the technology's ability to deliver accurate, robust, and cost-efficient results, which is crucial for improving patient outcomes and operational efficiency in clinical settings.
Market Challenges:
High Initial Set-Up Cost: The substantial upfront and recurring costs associated with mass spectrometry and chromatography systems present a formidable challenge for their broader adoption in clinical diagnostics. These financial barriers are particularly impactful for smaller laboratories and healthcare facilities with tight budgets, limiting their ability to invest in advanced diagnostic technologies.
Market Opportunities:
Focus on Emerging Markets for Expansion of Mass Spectrometry and Chromatography in Diagnostics: The global mass spectrometry and chromatography in diagnostics market presents substantial opportunities for growth in emerging countries, particularly through strategic focus on market expansion, growth opportunities in emerging economies, and the development of customized solutions. By focusing on affordability and accessibility, developing local partnerships and training programs, navigating regulatory requirements, and creating integrated diagnostic solutions, companies can unlock significant growth opportunities in the untapped markets of emerging countries.
How can this Report add Value to an Organization?
Product/Innovation Strategy: The global mass spectrometry and chromatography in diagnostics market has been segmented based on various categories, such as by product type, application type, sample type, testing type, and region.
Growth/Marketing Strategy: Partnerships, alliances, fundings, new offerings, and business expansions together accounted for the maximum number of key developments of the total developments in the mass spectrometry and chromatography in diagnostics market between January 2015 and June 2024.
Competitive Strategy: The global mass spectrometry and chromatography market consists of various public and few private companies. Key players in the mass spectrometry and chromatography in diagnostics market analyzed and profiled in the study involve established players that offer various kinds of products.
Methodology
Key Considerations and Assumptions in Market Engineering and Validation
Primary Research:
The primary sources involve industry experts in mass spectrometry and chromatography in diagnostics. Key opinion leaders (KOLs) such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.
The key data points taken from the primary sources include:
Secondary Research:
Open Sources
The key data points taken from the secondary sources include:
Key Market Players and Competition Synopsis
The companies profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The mass spectrometry and chromatography in diagnostics market (by product type) dominates by mass spectrometry and chromatography segment, securing a share of 85.34% in 2023. Sample preparation, on the other hand, accounted for approximately 14.66% of the market share in 2023.
Some prominent names established in this market are:
Scope and Definition