Portable Mass Spectrometer Market - Forecast(2024 - 2030)

Market Snapshot:

Portable Mass Spectrometer Market- Report Coverage:

The “Portable Mass Spectrometer Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Portable Mass Spectrometer Market.

COVID-19 / Ukraine Crisis - Impact Analysis: 

●      The effects of the Covid-19 pandemic, the temporary suspension of research operations and the change in attention by many end-users to the creation of COVID-19 vaccines caused a considerable slowdown in the growth of the worldwide portable mass spectrometer market. But the start of massive vaccination campaigns relaxed the curfew and travel restrictions, which allowed a number of enterprises to resume. These elements are anticipated to propel the market throughout the forecast period.

●      Russia's invasion of Ukraine in 2022, Trade and technology may be impacted if the war between Russia and Ukraine got worse or had serious economic effects. The market for portable mass spectrometers may be impacted by the war in the following ways. If the war led to disruptions in global supply networks, this may have an effect on the production and delivery of several components and materials required to construct portable mass spectrometers. This disagreement may cause production delays and severe price increases.

●      Key Takeaways:

●      Highest Market Share of North America Region

Geographically, in the global Portable Mass Spectrometer Market share, North America is analyzed to grow with the highest market share  of 31% in 2022. The growing demand in the pharmaceutical industry is the main factor projected to fuel the growth of the portable mass spectrometers market. According to the European Federation of Pharmaceutical Industries and Association, In 2021, North America accounted for 49.1% of world pharmaceutical sales compared with 23.4% for Europe. This is due to the fact that various pharmaceutical firms are placing more and more emphasis on the creation of new drugs. Large pharmaceutical corporations like Novartis International AG and Pfizer have made significant investments in a variety of research projects pertaining to pharmaceutical product development and vaccine production. For instance, PhRMA has allocated over $102.38 billion for its 2022 R&D initiatives.

●      Hybrid Mass Spectrometer Segment to Register the Highest Growth

In the Portable Mass Spectrometer Market Analysis, the Hybrid Mass Spectrometer segment is estimated to grow with the highest CAGR of 13.2% during the forecast period 2023-2030. Multiple mass analyzers are combined in a single device by hybrid mass spectrometers, also known as tandem mass spectrometers or MS/MS systems. By sequentially isolating and analyzing ions according to their m/z values, these systems make it possible to analyze complex combinations. Because they can carry out numerous stages of mass analysis, hybrid mass spectrometers have better selectivity and sensitivity than single mass spectrometers, thereby driving their use.

●      Drug Discovery Research Segment to Register the Highest Growth

 In the Portable Mass Spectrometer Market Analysis, the Drug Discovery Research segment is estimated to grow with the highest CAGR of 13.8% during the forecast period 2023-2030. The drug development scientific industry's increasing use of portable spectrometer devices is credited with the expansion of the drug discovery application. Medicinal chemists typically utilize it to track and observe chemical processes while conducting drug production and product validation.

The widespread usage of these instruments in forensic science applications such as arson investigation, analysis of trace evidence, identification of explosive residues, and confirmation of drug abuse is what is driving the global market for portable spectrometers. Additionally, there is a growing need for portable spectrometers in the global market due to the continuous discovery of new materials, chemicals, or compounds as well as the requirement to swiftly and precisely identify even minute quantities of these compounds.

●      The Rise in the Geriatric Population is a Key Factor Driving the Market Growth.

Some of the most prevalent microbiological diseases affecting older populations include skin infections, bacterial pneumonia, influenza, urinary tract infections, and gastrointestinal infections. The aged population is furthermore routinely subjected to diagnostic procedures like microbiological testing because of their poor immunity and metabolism. As a result, it is anticipated that the market will increase throughout the forecast period due to the growing elderly population.

●      Increasing Demand for Portable Mass Spectrometers.

In contrast to conventional mass spectrometer systems, which are relatively huge and cumbersome, a number of manufacturers on the market now provide compact permanent magnets that make mass spectrometers easier to handle. For instance, Thermo Fisher Scientific’s Prima BT Benchtop Mass Spectrometer has a number of benefits, including as best-in-class resolution, automatic sampling, and simple sample introduction. As a result, market expansion is anticipated to be fueled by the advantages throughout the forecast period.

●      The Lack of Imaging Capabilities is a Significant Challenge Restraining Market Growth.

Molecular imaging techniques are a frequently used strategy in pharmaceutical research as well as the development and identification of biomarkers since they let researchers see the biological and anatomical properties of these molecules. One limitation of these spectrometers is their inability to do such imaging procedures. Therefore, it is estimated that these limitations will prevent the mass spectrometry market from expanding during the course of the projected time.

Portable Mass Spectrometer Market Share (%) By Region, 2022

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Portable Mass Spectrometer Market. The top 10 companies in this industry are listed below:

1. Agilent Technologies, Inc. (Agilent)
2. Thermo Fisher Scientific Inc. (Thermo Fisher)
3. ABB Ltd. (ABB)
4. Metrohm AG. (Metrohm)
5. Perkinelmer Inc. (Perkinelmer)
6. Bruker Corporation (Bruker)
7. Jasco Corporation (Jasco)
8. Hitachi High-Tech Corporation (Hitachi)
9. MKS Instruments, Inc. (MKS)
10. Anton Paar GmbH (Anton Paar)

Scope of Report: