Clinical mass spectrometry is used for identification of biomarkers and targeted therapy in disease diagnosis and monitoring. The technique provides accurate quantitative and qualitative analysis making it an important tool in clinical research and practice.
Market key trends:
One of the major trend in the market is increasing usage of mass spectrometry in proteomics and metabolomics research. Clinical profiling through advanced mass spectrometry is enabling better understanding of disease mechanisms which is expected to drive drug discovery and precision medicine. Partnerships between instrument manufacturers and clinical research organizations are also contributing to technology advancements and wider application of mass spectrometry in clinical settings. However, high costs of instruments remain a challenge for market expansion in resource constrained settings.
The global Clinical Mass Spectrometry Market is estimated to be valued at US$ 6.37 Bn in 2023 and is expected to exhibit a CAGR of 26% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Clinical mass spectrometry offers precise, accurate and sensitive detection of various compounds at minute concentration levels. It allows detection and identification of thousands of molecules simultaneously.
Weakness: Clinical mass spectrometers are expensive to purchase and maintain. Skilled professionals are required to operate these systems.
Opportunity: Increasing research activities in proteomics and metabolomics is driving the demand for clinical mass spectrometry systems. Growing application in pharmaceutical and biopharmaceutical industry will provide growth opportunities.
Threats: High initial investment and operating cost of clinical mass spectrometry systems poses major challenge, especially for small labs and research facilities. Spectral interference can affect detection accuracy.
Key Takeaways
The global clinical mass spectrometry market is expected to witness high growth, exhibiting CAGR of 26% over the forecast period, due to increasing demand for fast and reliable disease diagnosis. North America dominated the market in 2022 owing to presence of major market players and advanced healthcare infrastructure in the region.
Regional analysis
North America accounted for around 40% share of the global clinical mass spectrometry market in 2022. Presence of major players, large R&D spending and advanced healthcare infrastructure are driving the market in the region. Asia Pacific is expected to witness highest growth during the forecast period supported by improving economies, healthcare reforms and growing focus on personalized medicine.
Key players operating in the clinical mass spectrometry market are SCIEX AB(US), Thermo Fisher Scientific (US), Agilent Technologies (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Bruker Corporation (US), Analytik Jena (Germany), JEOL Ltd. (Japan), Hiden Analytical (UK), and MKS Instruments (US), among others.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
