(EMAILWIRE.COM, August 17, 2018 ) The key factors that drive the market growth include technological advancements in Q-TOF mass spectrometry and stringent government regulations with respect to drug safety. The growing use of Q-TOF mass spectrometers in emerging markets is the key opportunity area, while the dearth of skilled professionals for such high-end instruments could be a challenging factor for the players in this market.

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The report analyzes the market by application and region. On the basis of application, the Q-TOF mass spectrometry market has been segmented into biotech applications, pharmaceutical applications, food and beverage testing, environmental testing, petrochemical applications, and other applications. In 2017, biotech applications are expected to account for the largest share of the market and this segment is also projected to register the highest CAGR during the forecast period.

Geographically, North America is estimated to account for the largest share of the global Q-TOF mass spectrometry market, followed by Europe. The growing government funding and increasing biotech and biopharma R&D in the US are the major factors driving the growth of the North American market. The increasing funding for R&D in Canada is expected to propel the market growth during the forecast period. However, the high costs of Q-TOF mass spectrometry instruments is restraining the growth of this market at present.

As of 2017, the global market was dominated by Waters Corporation (US), Agilent Technologies (US), and SCIEX (Subsidiary of Danaher) (US). These companies accounted for a majority share of the global Q-TOF mass spectrometry market in 2017. Other players involved in this market include Bruker (US), and Shimadzu Corporation (Japan).

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