(EMAILWIRE.COM, September 18, 2018 ) The report "Q-TOF Mass Spectrometry Market by Application (Biotech Applications, Pharmaceutical Applications, Food & Beverage Testing, Environmental Testing, Petrochemical Applications), and Region (North America, Europe, APAC, and Row) - Global Forecast to 2022", The Q-TOF mass spectrometry market is expected to reach USD 1,009.7 million by 2022 from an estimated USD 698.4 million in 2017, at a CAGR of 7.7%.

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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.

Browse 46 market data Tables and 26 Figures spread through 103 Pages and in-depth TOC on "Q-TOF Mass Spectrometry Market".

Biotech applications held the largest market share in 2017

Based on 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 accounted for the largest market share. The extensive use of Q-TOF mass spectrometry technology in the fields of proteomics and metabolomics and the increase in R&D investments in the biotech industry are the key factors driving the market growth.

North America accounted for the largest share of the Q-TOF mass spectrometry market in 2017, followed by Europe. The rising adoption of Q-TOF mass spectrometers for several applications in the biopharmaceutical industry, growing funding in the US for the utilization of Q-TOF mass spectrometers, growing research and development pertaining to biopharmaceuticals and biotechnology, and increasing investment in innovative projects in Canada is expected to drive the market growth during the forecast period.