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Leading Players in the Q-TOF Mass Spectrometry Market
Q-TOF Mass Spectrometry Market categories the global market by Application (Food & Beverage Testing, Biotech Applications, Pharmaceutical Applications, Petrochemical Applications, Environmental Testing), and Region (North America, Europe, APAC, and Row)
According to a new market research report "Q-TOF Mass Spectrometry Market by Application (Biotech Applications, Pharmaceutical Applications, Food & Beverage Testing, Environmental Testing, Petrochemical Applications), and Region (North America, Europe, APAC, and Row) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to reach USD 1,009.7 million by 2022 from an estimated USD 698.4 million in 2017, at a CAGR of 7.7%.
Browse 46 market data Tables and 26 Figures spread through 103 Pages and in-depth TOC on "Q-TOF Mass Spectrometry Market".
Waters Corporation (US) dominated the Q-TOF mass spectrometry market in 2017. The company provides a number of LC Q-TOF mass spectrometry technologies, accessories, and software in the mass spectrometry market. These products find applications in a variety of industries including pharmaceuticals, environmental agencies, food & beverages, as well as in anti-doping testing and research laboratories. To maintain its leading position and increase its customer base in the Q-TOF mass spectrometry market, the company mainly focuses on expanding its market presence by engaging in expansions and product launches and enhancements. For instance, in 2015, the company launched Vion IMS QTof Mass Spectrometer, an addition to its existing portfolio for Q-TOF spectrometry. The company has a strong geographic presence across the world, with its offices in the US, Europe, Asia, and other regions.
Agilent Technologies (US) held the second position in the mass spectrometry market in 2017. It is a leading player in all developed regions, including the US, Europe, and Asia. The company offers a wide range of GC and LC Q-TOF mass spectrometry products and also provides technical support. The prime strength of the company is innovation, which has helped it to sustain its brand equity. For instance, in 2017, the company has launched 7250 GC/Q-TOF system and AdvanceBio 6545XT LC/Q-TOF LC/MS. The company also focuses on other growth strategies such as expansions to strengthen its position in the market. For instance, in 2018, the company opened a new global solution development center to meet the increasing demand for fully tested solutions in Yishun, Singapore.
SCIEX, a subsidiary of Danaher Corporation (US), was another leading player in the global Q-TOF mass spectrometry market in 2016. The company provides a wide range of Q-TOF mass spectrometry technologies and software in the mass spectrometry arena. To strengthen its market position and increase its customer base in the Q-TOF mass spectrometry market, the company mainly focuses on enhancing its product line through product launches and enhancements. For instance, in 2017, the company launched the software called BioPharmaView 1.5 Software to provide the analysis of efficiency and speed. The company has a strong R&D and manufacturing infrastructure with its presence in Europe, North America, South America, Asia, Africa, the Middle East, and Rest of the World.
Some other players competing in this market are Bruker (US) and Shimadzu Corporation (Japan).
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North America dominated the market in 2017
North America accounted for the largest share of the Q-TOF Mass Spectrometry Market in 2017, followed by Europe. The rising adoption of Q-TOF mass spectrometers for several applications in the biopharmaceutical industry, growing funding in the US for the utilization of Q-TOF mass spectrometers, growing research and development pertaining to biopharmaceuticals and biotechnology, and increasing investment in innovative projects in Canada is expected to drive the market growth during the forecast period.
Europe is estimated to be one of the leading regions in the market. Factors such as the availability of funds for research in biopharmaceutical & medical fields, the growth of the cosmetics industry in Germany, concerns for food safety, increased investments by the pharmaceuticals industry in the UK, favorable scenario of biotechnology and pharmaceutical industry in Italy, expansion of several companies in France, and the strong existence of the food & beverages industry in Spain are the driving factors for the Q-TOF Mass Spectrometry Market in Europe.
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