Mass Spectrometry (MS) technology continues to advance with new offerings that feature improved resolution, greater automation and enhanced data analysis. The total market in 2017 was $4.1 billion, with growth last year driven by the biopharmaceuticals and food safety markets, and pent-up demand for GC/MS. Led by demand for advanced LC/MS technologies, as well as solid growth in the biopharmaceutical and applied sectors, the MS market is expected to grow 7.3% in 2018.
A mainstream technology for pharmaceuticals analysis, quadrupole LC/MS comprises over a third of the total demand for MS. Led by triple quadrupole systems, demand in this market is expected to remain robust in 2018, driven by pharmaceutical analysis and food safety applications. The GC/MS market is expected to face moderate growth, particularly as the outlook for energy market spending remains favorable. Solid sales expansions are predicted for Orbitrap LC/MS, TOF LC/MS and MALDI-TOF systems as a result of strong demand from biopharmaceutical, food and clinical research labs. Meanwhile, portable MS revenues will continue to grow, although the rate will diminish from what this market has experienced in previous years.
Sales momentum will continue to improve for applied markets, especially in the Asia Pacific region. Despite expectations of solid performance overall, the growth rate for sales to the pharmaceutical market is predicted to slow as the year progresses. However, it will be partially offset by increased spending by contract research labs. Uncertainty in public research spending in the US is also likely to soften MS demand from academic and government labs.
The competitive landscape is relatively stable for the top players in the MS market. Product introductions during the past year were largely geared toward applied markets, which include clinical labs, environmental labs and food testing labs. This trend is likely to continue in 2018.