Government’s initiatives in various countries is fuelling growth of the environmental testing globally. In addition, with the growing demand for development of waste infrastructure the liquid chromatography-mass spectroscopy is expected to witness an upsurge in adoption in the coming years. The global liquid chromatography-mass spectroscopy market is expected to witness a growth of 7.9% CAGR over the forecast period, 2016-2024.
Growing number of medium-sized and small companies participating in the field life science research is fuelling growth of the global liquid chromatography-mass spectroscopy market. In addition, surge in investment in research and development related to life sciences is likely to propel adoption of combined technologies that are capital intensive such as liquid chromatography-mass spectroscopy in the coming years. Moreover, enhanced liquid chromatography-mass spectroscopy techniques will further propel growth in their applied research.
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Liquid chromatography-mass spectroscopy techniques will witness more preference due to relatively high accuracy and robust competency in the span of next seven years. Furthermore, surge in adoption of liquid chromatography-mass spectroscopy techniques in clinical laboratories to reduce the processing time is likely to propel growth of the global liquid chromatography-mass spectroscopy market in the coming years.
Moreover, due to majorly enhanced triple-quadrupole liquid chromatography-mass spectroscopy, triple-quadrupole liquid chromatography-mass spectroscopy witnesses surge in demand in the clinical analysis over the coming years. Additionally, triple-quadrupole technology will hold over 50% of the global revenues for liquid chromatography-mass spectroscopy market in the span of next seven years.
Liquid chromatography-mass spectroscopy among other techniques is likely to remain relatively high in environmental testing and clinical testing, revenues from which will witness a growth of 8.7% and 8% CAGR respectively in the coming years. Drug discovery and development among others will represent the largest application of liquid chromatography-mass spectroscopy. Moreover, drug discovery and development among other applications will account for one-third of the revenue shares globally in the span of next seven years.
Contract research organizations and academic research institutions among various end users of liquid chromatography-mass spectroscopy will represent as the major end users in the span of next seven years. Moreover, application of liquid chromatography-mass spectroscopy technique in companies operating in biopharmaceutical industry will represent relatively fast revenue growth at 9.9% CAGR over the coming years.
North America and Europe among other regions will represent the leading regions, and will acquire over half of the global revenues in the span of next seven years. Additionally, theliquid chromatography-mass spectroscopyin North America will further witness a surge in growth at a CAGR of 8.4% over the coming years. Moreover, the liquid chromatography-mass spectroscopy market in Europe will account for US$ 671.2 Mn in terms of revenues in the span of next seven years. The liquid chromatography-mass spectroscopy market in Asia Pacific will represent relatively fast revenue growth at a CAGR of 8.6% in the coming years.
Leading players are mainly focusing on investing in research and development of analytical instruments, which is significantly contributing towards growth of the market in the coming years. PerkinElmer Inc., Danaher Corporation, Bruker Corporation, JEOL Ltd., Waters Corporation, Shimadzu Corporation and Agilent Technologies are some of the leading key players operating in the globalliquid chromatography-mass spectroscopy market in the coming years.