Market Size of Europe Mass Spectrometry Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Mass Spectrometry Market Analysis
The Europe mass spectroscopy market is expected to register a CAGR of 6.5% over the forecast period.
Mass spectroscopy devices are mainly used in research and development activities in different industrial areas such as pharmaceuticals, life sciences, food, and others. As there were lockdown restrictions around the world due to the COVID-19 pandemic, these activities were negatively impacted and thus affected the mass spectrometry market. Mass spectrometry devices were used in the detection and analysis of COVID-19 samples which had a considerable positive impact on the market studied. For instance, an article by a journal, namely Healthcare in Europe, published in November 2020, mentioned that the United Kingdom biotech laboratory used mass spectroscopy in an approach to Coronavirus testing. In addition, MAP Sciences developed a gargle test, which collects samples from the back of the throat, and avoids the unpleasant sensation of the PCR swab tests. From there, the sample is tested for COVID testing mass spectroscopy with high levels of accuracy. Thus COVID-19 had a mixed impact on the growth of the market during the pandemic period. However, currently, the market has reached its pre-pandemic state in terms of the use of mass spectroscopy devices and is expected to witness healthy growth over the forecast period.
Key factors propelling the market growth include technological advancements and increased pharmaceutical and biotechnological compounds in the pipeline. Technological advancements in mass spectrometry are enabling new product launches from key players. For instance, in June 2022, Shimadzu introduced new mass spectrometers in the global market. Additionally, in June 2022, Agilent Technologies Inc. announced new LC/MS and GC/MS quadrupole mass spectrometers in the global market. The Agilent 6475 triple quadrupole LC/MS system, 5977C GC/MSD, plus the 7000E GC/TQ and the 7010C GC/TQ represent the latest revolution in Agilent's 50-plus year history in mass spectrometry.
In addition, in April 2021, bioMérieux, a French company, announced the CE-marking of the new MALDI-TOF mass spectrometry identification system, VITEK MS PRIME, in the European market. With the new launch of mass spectrometry by key European companies such as bioMerieux and Agilent Technologies, the market studied is believed to witness strong growth in coming years.
Thus the above-mentioned factors are expected to drive the demand during the forecast period in Europe. However, the lack of skilled technicians and the high cost of mass spectrometry equipment are restraining the market growth.
