Liquid chromatography mass spectrometry market analysis

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2. LIQUID CHROMATOGRAPHY MASS SPECTROMETRY MARKET ANALYSIS • Liquid Chromatography Mass Spectrometry (LCMS) Market, by Type (Single Quadrupole LC-MS, Triple Quadrupole LC-MS, and Ion Trap LC-MS), by Sensitivity (High Flow, Micro Flow, and Nano Flow), by End User (Biotechnology and Pharmaceutical Industry, Hospital and Research Laboratories, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Liquid chromatography mass spectrometry is utilized by pharmaceutical, biotech, cosmetic, food processing, and other sectors for effective analysis of biochemical, as well as organic and inorganic compounds from complex samples. • The global liquid chromatography mass spectrometry market is expected to be valued at US$ 3,683.7 million in 2019, and is expected to exhibit a CAGR of 12.0% over the forecast period (2019 – 2027).

4. Increasing research and development expenditure in the healthcare sector is expected to propel growth of the liquid chromatography mass spectrometry market • Increasing research and development expenditure in the healthcare sector is expected to drive growth of the liquid chromatography mass spectrometry market. For instance, according to the National Bureau of Statistics, February 2018, China’s expenditure on research and development increased by 11.6% in 2017 from 10.6% in 2016, reaching US$ 280 Mn in 2017. • Companies are expanding their offerings in the potential market through product launches, which is expected to drive the market growth. For instance, in June 2019, AB Sciex LLC, a subsidiary of Danaher Corporation launched TripleTOF 6600+ LC0-MS/MS System with Scanning SWATH Acquisition, and OneOmics in SCIEX Cloud. • TripleTOF 6600+ LC-MS/MS System has low-flow source technology which offers large-scale, precise and robust quantification. Moreover, in October 2016, PerkinElmer, Inc. launched QSight Triple Quadrupole LC/MS/MS instrument in China. The QSight triple quad system has patented low-based mass spectrometry, which enhances sensitivity for the analysis of complex samples. • However, high cost associated with LCMS systems is one of the major factors which is expected to hamper growth of the liquid chromatography mass spectrometry market over the forecast period. Moreover, these mass spectrometry methods are labor intensive and require technically skilled workforce. However, limited number of skilled operators is expected to hamper the global liquid chromatography mass spectrometry market growth.

5. Increasing product launches and adoption of inorganic growth strategies in North America are expected to drive the market growth • North America held a dominant position in the global liquid chromatography mass spectrometry market, due to increasing product launches, mergers, and acquisitions strategies adopted by market players. For instance, in 2017, Agilent Technologies Inc. launched a triple quadrupole liquid chromatography mass spectrometer (triple quad LC/MS) at the American Society for Mass Spectrometry Conference (ASMS). Moreover, in February 2019, Clarivate Analytics launched Life Science Alliances Program to provide drug and medical device developers a way to significantly advance their research and development (R&D) activities, and commercialization initiatives. This is expected to increase demand for LCMS systems and accelerate the market growth. • Moreover, increasing research and development expenditure is a major factor, which is expected to drive the liquid chromatography mass spectrometry market growth in North America. For instance, according to the Pharmaceutical Research and Manufacturers of America, in 2016, the biopharmaceutical industry in the U.S. invested around US$ 90 billion in research and development activities.

6. Key Players • Major players operating in the global liquid chromatography mass spectrometry market include Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc.

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