Liquid Chromatographymass Spectroscopy Market

Liquid Chromatographymass Spectroscopy Market US$ 10 Mn in 2017 over 2016. By the end
of 2024
Analytical studies of complex environmental & biological samples demand advanced techniques
that help them accomplish multiple analysis synergistically. Liquid chromatography-mass
spectroscopy is one such efficient technique that serves the purpose of both – separating the sample
mixtures with multiple components and providing structural identity to these individual
components. The demand for liquid chromatography-mass spectroscopy (LC-MS) technique is
expected to surge due to rising need for advanced analytical measures in the field of biotechnology,
food processing, cosmetic & agrochemical production, pharmaceuticals, and environmental
monitoring. A latest study published by Persistence Market Research projects that towards the end
of 2024, the global market for liquid chromatography-mass spectroscopy will be valued at US$
2,213.4 Mn.
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The report, titled “Liquid Chromatography-Mass Spectroscopy (LC-MS) Market: Global Industry
Analysis and Forecast, 2016-2024,” projects that the value of global liquid chromatography-mass
spectroscopy market, which is currently estimated at just over US$ 1,200 Mn, is likely to get
doubled by the end of 2024. During this forecast period, the market will soar at an impressive
CAGR of 7.9%. Key findings in the report also project that North America and Europe will be
leading regions, procuring more than half of global revenues. Towards the end of 2024, North
America’s liquid chromatography-mass spectroscopy market will have soared at 8.4% CAGR,
while Europe will procure US$ 671.2 Mn in revenues. On the other hand, the liquid
chromatography-mass spectroscopy market in Asia-Pacific will record fastest revenue growth at
8.6% CAGR.
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The report also reveals the impact of triple-quadrupole liquid chromatography-mass spectroscopy
on clinical analysis of samples. The demand for triple-quadrupole LC-MS is increasing in clinical
analysis, owing to largely improved ionization source and front end ion optics of LC-MS system.
According to the report, more than 50% of the global LC-MS market revenues will be accounted by
triple-quadrupole (QqQ) technology, throughout the forecast period.
Furthermore, leading players in the global liquid chromatography-mass spectroscopy market such
as Thermo Fisher Scientific, Inc. are intensifying their spending on R&D of analytical instruments,
which is favoring the market’s growth at considerable extent. Other leading participants in global
market for LC-MS technique include Danaher Corporation, PerkinElmer Inc., JEOL Ltd., Bruker
Corporation, Agilent Technologies, Waters Corporation, and Shimadzu Corporation.
Apropos the report findings, demand for liquid chromatography-mass spectroscopy technique will
remain higher in clinical testing and environmental testing, revenues from which are anticipated to
soar at 8% and 8.7% CAGRs respectively. Drug discovery and development, on the other hand, will
be observed as the largest application of liquid chromatography-mass spectroscopy, procuring over
one-third share of global revenues towards the end of 2024. The report identifies academic research
institutions and contract research organizations as key end-users of liquid chromatography-mass
spectroscopy. The use of LC-MS technique in biopharmaceutical companies, however, will record
fastest revenue growth at 9.9% CAGR.
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