Liquid Chromatography Mass Spectrometry Market Estimated To Witness Growth

Market Overview:-

Liquid chromatography mass spectrometry (LCMS) is a hyphenated technique used to identify and quantify different molecules within a complex sample through molecular weight and structure. It is used to separate, identify and quantify molecules in a mixture or complex biological sample. In LCMS, the molecules are first separated using liquid chromatography and then introduced to a mass spectrometer for identification based on their mass-to-charge ratio. It is commonly used in pharmaceutical, food safety, clinical research and environmental testing industries.

Market Dynamics:-

The widespread use of LCMS in the pharmaceutical industry is expected to drive the market growth over the forecast period. Pharma companies use LCMS extensively for quality control of pharmaceutical drugs, identification of metabolites, and drug discovery. Additionally, growing focus on LC-MS/MS application in drug development and discovery is also fueling the demand for LCMS systems. For instance, LC-MS/MS is extensively used for analysis of complex biological mixtures, proteomics and metabolomics, which are critical applications in early drug development stages. Moreover, growing adoption of LCMS systems in clinical research for diagnosis of diseases is another factor propelling the market growth. However, high costs associated with LCMS systems may limit their adoption, especially in emerging economies to some extent.

Segment Analysis:-

The liquid chromatography mass spectrometry (LCMS) market is dominated by the pharmaceutical and biotechnology segment. This segment accounts for over 40% of the total market share due to wide usage of LCMS systems in drug discovery, drug development and quality control processes in pharmaceutical and biotech companies. LCMS systems help in identification, quantification and characterization of small molecule drugs and large biomolecules.

PEST Analysis:-

  • Political: Government funding and initiatives to support drug discovery and development is driving adoption of LCMS systems in pharmaceutical and biotech industry.
  • Economic: Growing pharma R&D spending globally on development of novel drugs is fueling demand for sophisticated analytical tools like LCMS.
  • Social: Increasing incidence of chronic and lifestyle diseases is necessitating development of new treatment options, propelling the usage of LCMS in research.
  • Technological: Continuous innovations in LC and MS technologies such as high resolution systems, microfluidics and artificial intelligence are expanding applications of LCMS.

Key Takeaways:-

The Global Liquid Chromatography Mass Spectrometry (LCMS) Market Size is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing spending on pharmaceutical R&D.

North America dominated the LCMS market in 2022 with over 35% share driven by concentration of pharmaceutical companies and academic research institutes in the region. Asia Pacific is expected to be the fastest growing regional market during the forecast period due to increasing government investments and expansion of pharma industry in China and India.

Key players operating in the LCMS market are Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc. Key players are focusing on development of novel and advanced LCMS technologies through collaborations and acquisitions to strengthen their product portfolio and market position.

 

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