Q-TOF MASS SPECTROMETER MARKET ANALYSIS

Q-TOF Mass Spectrometer Market, by Application (Drug Testing and Discovery, Food Contamination Detection, Pesticide Residue Analysis, Isotope Ratio Determination, Protein Identification, Carbon Dating, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations (CRO), and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

To Be Published : Nov 2024
Code : CMI3758
Formats :
Excel and PDF
Industry : Information and Communication Technology

Q-TOF Mass Spectrometer MarketSize and Trends

One of the major applications of the mass spectrometer include drug testing and food contamination detection. The governments are implementing strict laws against the drug use and food contamination. For instance, according to Coherent Market Analysis, the drug testing instrument market reached US$ 8.62 Billion in 2019, globally and is expected to exhibit a CAGR of 9.8% over the forecast period. The mass spectrometer tests the human fluids for the presence of the steroid or chemicals. Thus, increasing demand for the drug testing and food testing is expected to drive the market growth over the forecast period.

Moreover, the Q-TOF mass spectrometer is the most advanced mass spectrometer, it gives more accurate results among all the spectrometers. It uses two or more mass analyzers using an additional reaction step to ensure the accuracy of results/output. According to CMI analysis, the global mass spectrometer market accounted for US$ 4.8 Billion in 2018 and estimated to exhibit a CAGR of 6.7% over the forecast period. Owing to all these reasons, the global Q-TOF mass spectrometer market is expected to witness significant growth during the forecast period.

Market Trends

Stringent government policies against drug usage and food contamination are expected to drive the market growth over the forecast period.