LIQUID CHROMATOGRAPHY MASS SPECTROMETRY (LCMS) MARKET ANALYSIS

Regional Analysis

North America held a dominant position in the global Liquid Chromatography Mass Spectrometry (LCMS) 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 (LCMS) 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.