Overview and Scope
Liquid chromatography-mass spectrometry (LC-MS) is an analytical technique for separating, identifying, and quantifying components in a mixture. It combines the separation capabilities of liquid chromatography with the detection and identification capabilities of mass spectrometry. LC-MS is commonly used to analyze complex samples with high sensitivity and specificity. Its purpose is to provide detailed information about the composition of a sample, helping researchers and analysts understand its chemical nature and properties.
Sizing and Forecast
The liquid chromatography mass spectrometry (LC-MS) market size has grown rapidly in recent years. It will grow from $5.95 billion in 2023 to $6.82 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increasing research and development expenditure, rising application in environmental testing, growing applications in pharmaceutical industry, and increasing demand in pharmaceutical and biotechnology industries, increasing the need for the liquid chromatography mass spectrometry.
The liquid chromatography mass spectrometry (LC-MS) market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to increasing clinical trials to deliver higher results, growing focus on research and development, increasing air and water pollution, growth in demand for sustainable environmental policies, rising environmental awareness. Major trends in the forecast period include advanced technologies, increasing product and technology innovation, innovative technologies and features, growing focus on research and development, and advancements in metabolomics and proteomics research.
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Segmentation & Regional Insights
The liquid chromatography mass spectrometry (LC-MS) market covered in this report is segmented –
1) By Product Type: Normal-Phase Liquid Chromatography (NPLC), Reversed-Phase Liquid Chromatography (RPLC), Ion Exchange Liquid Chromatography (IELC), Size Exclusion Liquid Chromatography (SELC), High-Performance Liquid Chromatography (HPLC), Ultra-High Pressure Liquid Chromatography (UHPLC), Low-Pressure Liquid Chromatography (LPLC), Other Product Types
2) By Platform: Single Mass Spectrometry, Hybrid Mass Spectrometry, Other Platforms
3) By Application: Pharmaceutical, Biotechnology, Petrochemical, Environmental Testing, Food And Beverage Testing, Other Applications
4) By End-User: Biotechnological And Pharmaceutical Industries, Research Laboratories, Diagnostic Laboratories, Industrial, Government And Public
North America was the largest region in the liquid chromatography mass spectrometry (LC-MS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liquid chromatography mass spectrometry (LC-MS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing number of clinical trials is expected to propel the growth of the liquid chromatography-mass spectrometry market going forward. Clinical trials involve studying new medical treatments, interventions, or therapies in humans to assess their safety and effectiveness. The rise in clinical trials is due to advancements in medical research, the rising prevalence of chronic diseases, regulatory support and incentives, increased investment in research and development (R&D), and the expansion of precision medicine. Liquid chromatography-mass spectrometry (LC-MS) helps clinical trials by providing precise and reliable analysis of biological samples, enabling the identification and quantification of drugs, metabolites, and biomarkers, which supports drug efficacy and safety evaluations, pharmacokinetic and pharmacodynamic studies, and personalized medicine approaches. For example, according to ClinicalTrials.gov, a US-based clinical trial registry, the number of clinical trials registered globally in 2023 was 477,234, an increase from the 437,512 trials registered in 2022. Therefore, the increasing number of clinical trials is driving the growth of the liquid chromatography-mass spectrometry market.
Key Industry Players
Major companies operating in the liquid chromatography mass spectrometry (LC-MS) market are Hitachi Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Agilent Technologies Inc., VWR International LLC, PerkinElmer Inc., Shimadzu Corporation, Waters Corporation, Bruker, SCIEX, JEOL Ltd., Hamilton Company, GL Sciences Inc., Phenomenex Inc., Analytik Jena GmbH+Co. KG, Gilson Incorporated, Skyray Instruments USA Inc., Advion Inc., JASCO
The liquid chromatography mass spectrometry (lc-ms) market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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