Portable Mass Spectrometer Market Size Worth $6 Billion By 2030: IndustryARC

Global Portable Mass Spectrometer Market size is predicted to reach $6 billion by 2030, growing at a CAGR of 12.8% during the forecast period 2023-2030. Portable mass spectrometers are being used more often in the food business to check for impurities, and adulterants, and to verify the authenticity of products. The need for these devices is increasing as a result of strict regulations and customer demand for safe and high-quality food items. In point-of-care testing settings, such as medical diagnostics, environmental monitoring, and food safety, portable mass spectrometers are becoming more and more common. A key growth driver is their capacity to deliver quick and precise findings right at the testing site during forecast period, finds IndustryARC in its recent report, titled “Portable Mass Spectrometer Market Size, Share & Trends Analysis Report By Product Type (Single Mass Spectrometer, (Ion Trap, Quadrupole, Time-of-Flight (ToF), Orbitrap, Inductively Coupled Plasma Mass Spectrometer (ICP-MS), Thermal Ionization Mass Spectrometer (TIMS), Others, Hybrid Mass Spectrometer, Quadrupole ToF, Quadrupole Ion Trap, Linear Ion Trap Orbitrap, Fourier Transform Ion Cyclotron Resonance Mass Spectrometer, Triple Quadrupole, Quadrupole Orbitrap, Matrix-Assisted Laser Desorption/Ionization (MALDI) ToF, Others)), By Design, (Handheld, Benchtop, Standalone, Others), By System Type, (Uncoupled Mass Spectrometer, Coupled, Gas Chromatography-Mass Spectrometer, Liquid Chromatography Mass Spectrometer), By Area of Use, (Laboratory Analysis, Continuous Online Monitoring & Analysis), By Application, (Clinical Analysis, Forensic Analysis, Food Safety & Testing Analysis, Environmental Monitoring, Drug Discovery Research, Geological Analysis, Biochemistry, Process Monitoring, Polymers Analysis, Material Analysis, Others), By End User, (Semiconductor and Electronics, Food and Beverage, Metal Processing, Mining, Chemicals, Oil and Gas, Petrochemical, Law Enforcement, Defense, & First Responders, Testing, Inspection & Certification (Service Providers), Medical, Pharmaceutical, Ceramics and Plastics, Waste and Water Treatment Utilities, Institutes and Research Centers, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”

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Highest Market Share in  North America Region

Geographically, in the global Portable Mass Spectrometer Market share, North America is analyzed to grow with the highest share of 13% in 2022. The growing focus on drug research and development in various pharmaceutical businesses is one of the key drivers of the global mass spectrometry market’s considerable rise in North America. In order to create new drugs and produce vaccines, several of well-known pharmaceutical corporations, like Novartis International AG and Pfizer Inc., invest heavily in research. Therefore, there is a rising need for mass spectrometers among these businesses, which is considerably fueling the market’s expansion. In addition, R&D development in the mass spectrometry market has significantly increased. For instance, the Pharmaceutical Research and Manufacturers of America (PhRMA) member businesses spent about USD 102.38 billion on research and development (R&D) in 2022, an increase of 18.62% from 2019. Therefore, throughout the forecast period, such factors are anticipated to fuel the expansion of the mass spectrometry market in the region.

Portable Mass Spectrometer Market2023-2030: Scope of the Report

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Portable Mass Spectrometer Market Report – Key Takeaways:

Pharmaceutical Segment to Register the Highest Growth

In the Portable Mass Spectrometer Market Analysis, the Pharmaceutical segment is estimated to grow with the highest CAGR of 13.2% during the forecast period 2023-2030. The demand to create novel medicines is one of the main drivers of the rise in mass spectrometry demand, as this technique makes use of the inherent mass-to-charge ratio of particular molecules to reveal the structure, concentration, identity, and behavior of molecules in solid and liquid samples. Determine the structural makeup of therapeutic agents, tracking the motion of large molecules to understand how they influence biological function in the folding of proteins, and make sure the proper compound is produced after the drug test is successful are just a few of the key applications of mass spectrometry in the pharmaceutical industry. As a result, throughout the projected period, such factors are anticipated to fuel the expansion of this category.

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. Portable mass spectrometers have become essential tools for drug discovery research, due to a number of compelling considerations that have changed the way pharmaceutical innovation is seen. These elements work together to increase their growing importance as essential instruments, revolutionizing the selection, evaluation, and improvement of new medication candidates.

Portable mass spectrometers’ outstanding productivity in high-throughput screening is at the forefront of these growth-inducing variables. The capacity to quickly analyze a large number of compounds in a shorter amount of time than traditional approaches has sped up drug development efforts, accelerating the identification of promising candidates and shortening the journey from the laboratory bench to the patient’s bedside.

Growing investments are fueling market expansion, which leads to market growth.

The growing usage of portable spectrometers in the chemical and food sectors is advantageous for the market. Due to the government’s adoption of safety standards to uphold the standard of ready-to-eat meals and soft drinks, market increase is projected. The food and beverage industry is given priority in the recent US$1.35 billion MAKE IN INDIA budget from the Indian government, which also encourages investment. The government established 138 cold chain projects and 18 mega food parks to improve the supply chain.

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.

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Key Opportunity Analysis:

Increased Investments in R&D Activities

Recent years have seen a sharp increase in investments in research and development (R&D) activities, which has led to a major increase in the market for portable mass spectrometers. Based on their mass-to-charge ratio, molecules can be identified and quantified using the powerful analytical method known as mass spectrometry. It has uses in many different areas, including forensics, food and beverage production, pharmaceuticals, and environmental monitoring.

According to the European Federation of Pharmaceutical Industries and Association, in 2020 the pharmaceutical industry invested more than US$ 45230.9 million in R&D in Europe. Investments in R&D have resulted in the creation of more efficient and portable mass spectrometers. Portable mass spectrometers have become more potent and available as a result of component miniaturization, enhanced ionization methods, and improved data analysis software.

Development of Pharmaceutical Industry.

The mass-to-charge ratio of ions is measured by a mass spectrometer, an analytical device. Compact and lightweight portable mass spectrometers are developed for on-site analysis in a variety of fields, such as environmental monitoring, food safety, forensic research, and more. The portability of these tools eliminates the need to transfer samples to a lab and enables real-time analysis in the field.

Smaller, more effective mass spectrometers have been created as a result of technological advancements, and they can now deliver precise results even in a portable form factor. Applications for portable mass spectrometers in the pharmaceutical sector include drug discovery, quality assurance, and the identification of fake medications. These are the factors anticipated to create opportunities for market growth.

Rising demand for Point-of-Care Diagnostics.

The market for portable mass spectrometers has been expanding significantly as a result of a number of factors, including the growing need for point-of-care diagnostics. Analytical tools such as portable mass spectrometers are created to allow on-the-spot examination of a variety of chemicals and substances. They have a number of benefits over conventional benchtop mass spectrometers, including their small size, simplicity of use, and capacity for real-time analysis in a variety of settings.

Medical testing carried out close to the patient, outside of a conventional laboratory setting, is referred to as point-of-care diagnostics. This method has various benefits, including quicker outcomes, better patient outcomes, and lower healthcare expenditures. The growing need for point-of-care diagnostics in the setting of the portable mass spectrometer market has probably contributed to the uptake of portable mass spectrometers. These devices are useful tools in the field of point-of-care diagnostics since they can examine complex samples in real time.

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The Report also Covers the Following Areas:

Portable Mass Spectrometer Market Size and Forecast

Portable Mass Spectrometer Market Trends

Portable Mass Spectrometer Market Analysis by Deployment Type

Portable Mass Spectrometer Market 2023-2030: Key Highlights

CAGR of the market during the forecast period 2023-2030

Value Chain analysis of key stakeholders

Detailed analysis of market drivers and opportunities during the forecast period

Portable Mass Spectrometer Market size estimation and forecast

Analysis and predictions on end users’ behavior and upcoming trends

Competitive landscape and Vendor market analysis including offerings, developments, and financials

Comprehensive analysis of challenges and constraints in the Portable Mass Spectrometer Market.

Covid and Ukrainian Crisis Impact:

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 prediction period.

The violence caused interruptions in global supply chains, which had an impact on the availability of crucial parts, resources, and technology needed to make portable mass spectrometers. Production delays and shortages on the market may be the result of supply chain disruptions brought on by export restrictions, logistical issues, or geopolitical problems. Operations for manufacturing in areas that are directly or indirectly affected by the crisis may be hindered by the conflict-related interruptions. Portable mass spectrometer delivery delays might have an impact on sales and market expansion if manufacturing facilities have reduced production capacity or stop working altogether.

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List of Key Market Players in Portable Mass Spectrometer Market:

The key companies profiled in the Portable Mass Spectrometer Market Report are listed below:

Agilent Technologies, Inc.

Thermo Fisher Scientific Inc.

ABB Ltd.

Metrohm AG

Perkinelmer Inc.

Bruker Corporation

Jasco Corporation

Hitachi High-Tech Corporation

MKS Instruments, Inc.

Anton Paar GmbH Corporation

Newport Corporation

Renishaw plc.

AIBC International

Texas Instruments Incorporated

Oxford Instruments

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