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Clinical mass spectrometry is an analytical technique used in clinical laboratories and hospitals for protein quantification, biomarker discovery and therapeutic drug monitoring. It helps in identification of proteins, peptides and other biomolecules present in biological samples at very low concentrations. These instruments provide accurate results without damaging the sample molecules. With technological advancements, miniaturized mass spectrometers are widely being implemented in point-of-care testing and personalized medicine.
The global Clinical Mass Spectrometry Market is estimated to be valued at US$ 6.37 billion in 2023 and is expected to exhibit a CAGR of 26% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the clinical mass spectrometry market is the growing applications of these instruments in disease diagnostics and management. Mass spectrometry based methods are helping clinicians to detect various cancers, neurological conditions and infectious diseases at an early stage. For instance, mass spectrometry aids in non-invasive proteomic profiling of specific cancer biomarkers from biofluids like blood and urine. Similarly, it is proving effective for rapid identification of bacterial and viral strains responsible for infections. Furthermore, mass spectrometers find use in monitoring drug metabolism and pharmacokinetics to optimize individualized drug dosages. Overall, increasing demand for precision medicine and protein-based disease diagnostics is expected to boost the clinical mass spectrometry market over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and lack of expertise poses a low threat to new entrants in this market.
Bargaining power of buyers: Large number of buyers and supplier differentiation results in moderate bargaining power of buyers.
Bargaining power of suppliers: Few technology providers and differentiated components result in high bargaining power of suppliers.
Threat of new substitutes: Limited substitutes currently exist due to uniqueness of mass spectrometry technique.
Competitive rivalry: Presence of few global players results in high competitive rivalry.
Key Takeaways
The global Clinical Mass Spectrometry market is expected to witness high growth, exhibiting a CAGR of 26% over the forecast period, due to increasing prevalence of chronic and lifestyle diseases.
Regional analysis: North America dominates the global market currently due to technological advancements and availability of reimbursement policies in the region. Asia Pacific is expected to witness the fastest growth rate over the forecast period supported by increasing healthcare expenditure and rising clinical research activities in the region.
Key players operating in the Clinical Mass Spectrometry are SCIEX AB(US), Thermo Fisher Scientific (US), Agilent Technologies (US), Waters Corporation (US), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Bruker Corporation (US), Analytik Jena (Germany), JEOL Ltd. (Japan), Hiden Analytical (UK), and MKS Instruments (US), among others. Key players are focused on new product launches, partnerships and geographic expansion strategies to gain higher market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it competitive rivalry.
