Liquid Chromatography Mass Spectrometry (LCMS) Market To Find Better Growth with US$ 9.1 Billion By 2027 | CAGR: 12.0%: Coherent Market Insights
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Global Liquid Chromatography-Mass Spectrometry (LCMS) Market, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, MicroFlow, and Nano Flow), By End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)m is estimated to be valued at US$ 3,683.7 million in 2019 and is expected to exhibit a CAGR of 12.0% over the forecast period (2019 – 2027), as highlighted in a new report published by Coherent Market Insights.
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Rising research and development expenditure in the healthcare sector and increasing new product launches by market players are expected to drive growth of the market
The liquid chromatography mass spectrometry market growth is expected to be driven by rising number of product launches by market players, which offers advanced solutions for efficient analysis of samples in the biotechnology and pharmaceutical industry, and other sectors. For instance, in June 2017, Thermo Fisher launched a fully automated analyzer, Cascadion SM clinical analyzer system with selectivity and sensitivity of liquid chromatography-tandem mass spectrometry (LC-MS/MS). This analyzer can be customized easily to be compatible with the laboratory information systems.
Moreover, regulatory authorities are taking initiatives to adopt LCMS technique for testing and analysis in the biopharmaceutical industry, which is expected to fuel the LCMS market growth over the forecast period. For instance, in October 2019, the U.S. Food and Drug Administration (FDA) recommended pharmaceutical companies to use Liquid Chromatography-High Resolution Mass Spectrometry (LC-HRMS) for testing N-nitrosodimethylamine (NDMA) in ranitidine products. The NDMA is found to be carcinogenic in nature.
Browse 28 Market Data Tables and 23 Figures spread through 186 Pages and in-depth TOC on ‘Liquid Chromatography-Mass Spectrometry (LCMS) Market’- Global Forecast to 2027, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, MicroFlow, and Nano Flow), By End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Furthermore, key players and other organizations are focusing on adopting strategies such as collaborations to offer training programs for researchers, scientists, and other personnel, in order to boost drug discovery in emerging economies. For instance, in August, 2019, Jomo Kenyatta University of Agriculture and Technology (JKUAT), Kenya held a training session for researchers from ten African countries for liquid chromatography mass spectrometry (LC-MS) training, to help researchers in analyzing live molecules in food, medicine, and organic compounds. The training was co-funded by the Royal Society of Chemistry (RSC) and GlaxoSmithKline (GSK), and the Pan Africa Chemistry Network (PACN).
Major players operating in the market are adopting strategies such as acquisition and collaboration to expand their product offerings in potential markets. For instance, in September 2019, Thermo Fisher Scientific Inc. and Cedars-Sinai entered into a collaboration for developing advanced liquid chromatography mass spectrometry workflows for screening and targeted quantitation of protein-based biomarkers for complicated diseases.
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Key Takeaways of the Liquid Chromatography Mass Spectrometry Market:
- The global liquid chromatography mass spectrometry market is expected to exhibit a CAGR of 12.0% over the forecast period. This is attributed to new launch of products by market players. For instance, in 2018, Shimadzu Corporation launched Nexera Mikros, a micro flowrate-compatible liquid chromatograph mass spectrometer, which provides ten times higher sensitivity.
- Among sensitivity, the micro flow segment held a dominant position in the liquid chromatography mass spectrometry market in 2018. This is attributed to various applications of micro flow sensitivity in research, which includes proteomics, biomarker discovery, bioanalysis, and environmental analysis.
- Among end user, the biotechnology and pharmaceutical industries segment held a dominant position in the liquid chromatography mass spectrometry market in 2018. This is attributed to rising innovations to accelerate drug development. For instance, in May 2018, SCIEX launched BioPharmaView Software 3.0 solution for complete LC-MS multiple attribute methodology (MAM) workflow, which enables detailed characterization of biologics for use by biopharma researchers.
- Some of the key players operating in the global liquid chromatography mass spectrometry market include Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc.
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