(EMAILWIRE.COM, December 04, 2018 ) The key factors which include the growth of the pharmaceutical and biotechnology industry and technological advancements in mass spectrometry are driving the growth of the global mass spectrometry market during the forecast period. The growing use of mass spectrometry in emerging markets and the rising potential for the application of high-resolution mass spectrometry in healthcare are the key areas of opportunity in Mass Spectrometry Market.

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By application, the pharmaceutical application industry held the largest market share in 2017

Based on application, the mass spectrometry market is further segmented into pharmaceutical application, biotech application, environmental testing, food and beverage testing, petrochemical applications, and other applications. In 2017, the pharmaceutical applications segment is expected to account for the largest share. Extensive use of mass spectrometry technologies at various stages of drug development processes and increase in R&D investments by pharmaceutical industries are driving the growth of the market.

North America accounted for the largest share of the mass spectrometry market in 2016, followed by Europe. High usage of mass spectrometry in the pharmaceutical sector, growing funding to favour mass spectroometry market in the US, high petrol and natural gas production, growing biopharmaceuticals and biotechnology research & development and fundings for innovation based projects in Canada is expected to drive market during the forecast period.

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Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), and SCIEX (Subsidiary of Danaher) (US) are the key players in the mass spectrometry market. Other players involved in this market are Bruker (US), PerkinElmer (US), JEOL (Japan), Analytik Jena (Germany), Hiden Analytical (UK), Rigaku (Japan), LECO (US), and DANI Instruments (Italy).