by The Clinical Mass Spectrometry Market is estimated to be valued at US$ 6.37 Billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Clinical mass spectrometry is used for protein identification, biomarker discovery, clinical toxicology testing, and therapeutic drug monitoring among others. It helps in disease diagnosis by providing better sensitivity and specificity, overcoming limitations of conventional methods like ELISA. The clinical applications include detection of drugs or metabolites in body fluids to monitor pharmacokinetics or pharmacodynamics during drug development. It is also used in proteomics research for new biomarker discovery and validation.
Market Dynamics:
Increasing disease incidence and focus on personalized medicine are some of the key drivers of clinical mass spectrometry market growth. Rising global disease burden has increased the demand for advanced diagnostic techniques with high accuracy. According to World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. Such increasing prevalence of chronic and infectious diseases is expected to propel the need for clinical mass spectrometry in personalized therapeutics and diagnostics development.
Additionally, advances in mass spectrometry technologies have improved performance and reduced equipment costs, further facilitating their adoption in clinical settings. Launch of novel compact mass spectrometers integrated with software and hardware capabilities enables healthcare professionals perform quantitative and qualitative analysis quickly. This is expected to boost market revenues by widening customer base in clinical laboratories and research organizations over the forecast period.
Segment Analysis
Content: The clinical mass spectrometry market is dominated by the liquid chromatography-mass spectrometry (LC-MS) segment. LC-MS holds over 45% of the market share due to its widespread applications in discovery and screening of biomarkers and its extensive use in metabolism studies and toxicology. It allows separation, identification and quantification of various therapeutically significant biomolecules. Compared to gas chromatography-mass spectrometry (GC-MS), it requires minimal or no sample preparation and is suitable for analyzing polar, thermolabile compounds and large biomolecules like proteins.
PEST Analysis
Content: Political: Governments in various countries are supporting adoption of advanced technologies like mass spectrometry for clinical diagnosis through favorable regulations. Economic: Growing healthcare spending along with increasing focus on faster and accurate disease diagnosis is fueling demand for clinical mass spectrometry systems. Social: Rising prevalence of chronic and lifestyle diseases is augmenting the need for improved diagnostic methods. Technological: Continuous enhancements in mass spectrometry technologies such as higher throughput, better resolution, software solutions for improved data analysis and wireless connectivity with lab instruments are supporting its clinical adoption.
Key Takeaways
The global Clinical Mass Spectrometry market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing demand for advanced diagnostic technologies.
North America dominates the clinical mass spectrometry market with over 40% share supported by developed healthcare infrastructure, availability of skilled professionals and technological advancements. Asia Pacific registers the fastest growth due to rising healthcare spending in countries like India and China, increasing patient pool and favorable government initiatives.
Key players operating in the clinical mass spectrometry are Agilent Technologies, Bruker Corporation, Danaher Corporation, Leco Corporation, Perkin Elmer Inc., Shimadzu Corporation, Thermo Fisher Scientific. These players are focusing on developing integrated solutions with improved workflow and easy configuration tailored for clinical applications to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.