Global Q-TOF Mass Spectrometry Market to Reach 1000 Million USD by 2023

WiseGuyReports.Com Publish a New Market Research Report On –“ Global Q-TOF Mass Spectrometry Market to Reach 1000 Million USD by 2023”.

PUNE, INDIA, August 30, 2019 /EINPresswire.com/ —

Q-TOF Mass Spectrometry Industry 2019

Description:-

Mass Spectrometry is a technique used to measure the mass-to-charge ratio of ions. Invented by Nobel laureate Wolfgang Paul, Quadrupole-Time of Flight or Q-TOF Mass Spectrometry is a type of mass spectrometry where the mass-to-charge ratio of an ion is measured using a time of flight measurement, in which the ions are speeded up by an electric field of pre-determined strength, and the results are displayed as a mass spectrum.

This technique has its uses in several fields such as biochemistry, pharmacokinetics, food safety, drug testing and space exploration to name a few.

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The global Q-TOF Mass Spectrometry market was valued at 700 million USD in 2017 and is expected to reach 1009.7 million USD by the end of 2022, growing at a CAGR of 7.7% between 2017 and 2023.

This report analyzes the status and worldwide scope of the Q-TOF Mass Spectrometry market during the period 2017-2023, outlines the key players, and splits the market by the types of this technique and its applications.

Segmentation:

The key players in the Q-TOF Mass Spectrometry market across the world include the following:
Agilent Technologies
Bruker
Shimadzu Corporation
Waters Corporation
Danaher

Based on the type, this market can be divided into two broad categories, namely Two-Grade and Three-Grade, whereas, based on application, the Q-TOF Mass Spectrometry market is split up across industries such as biotechnology, food and beverage testing, pharmaceuticals, petrochemicals and environmental testing. The growing applications of this technique in these sectors, positive government initiatives, and a larger focus on the production of high-quality products has ensured a steady market growth for this technology, especially in growing economies such as Latin America and the Asia Pacific region.

Regional Analysis:
Based on historical data, market experts predict that the Asia Pacific region will occupy a higher market share in the future forecasted period, with China being a major market, followed by India and South East Asia. However, in terms of market growth, it may be noted that North America will be the market leader, particularly the United States, as any significant change from the US would impact the development of Q-TOF Mass Spectrometry in other markets. Besides, the growth in government funding and increasing research in the biotechnology and pharmaceutical fields in the US are also major drivers for growth of the North American as well as Canadian market. Europe is also estimated to play an important role in the global market.

Industry News:
According to the latest news, the application of the Q-TOF Mass Spectrometry technique will see the highest growth in the field of biotechnology, with biotechnology expected to register the highest CAGR during the forecast period. The downside of this technology is the high costs of the Q-TOF instruments, which are hampering the growth of this market to a certain extent. However, with the United States and Canada getting substantial government grants for research and development, this market is expected to provide ample opportunities for new players.
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Source: EIN Presswire