The mass spectrometry software market was valued at US$ 5,037.56 million in 2019 and is projected to reach US$ 8,541.36 million by 2027; it is expected to grow at a CAGR of 7.0% from 2020 to 2027.
Mass spectrometry software helps in collecting various digital instruments and tools that provide several features and benefits for mass spectrometry processes. Mass spectrometry software helps in data analyzing through it specialized tools and help identify protein biomarkers and protein deviations better.
The scope of the mass spectrometry software market includes deployment type, application, and region. The market for mass spectrometry software is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the mass spectrometry software market emphasizing on various parameters, such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.
Lucrative Regions for Mass Spectrometry Software Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Applications of Genomics and Proteomics
Growing advancements in technology have enhanced the genomic and proteomic applications in the biotechnology industry. These applications are majorly dependent on mass spectrometry-based identification and quantification outcomes. The integration of information technology with biotechnology has allowed receiving genome-sequence databases automatically by rapid protein profiling. It offers benefits such as real-time analysis of continuously flowing protein samples that can be used for medical applications.
Growing applications of genomics and proteomics in the medical industry for diagnosing and treating chronic diseases have increased the utilization of mass spectroscopy. Mass spectrometry has enabled the invention of therapeutic techniques to design personalized treatments for diseases, such as cancer, diabetes, and genetic disorders. Various innovations have received support from government organizations worldwide to enhance the research and development in the biotechnology industry. For instance, in 2006, the National Cancer Institute and National Human Genome Research Institute collaborated to lead significant initiatives—such as Cancer Genome Atlas—for the development of personalized medicines for oncology. Under the program, ~47 drugs have been approved by the Food and Drug Administration in 2018, and nearly 20 by the mid of 2019.
Similarly, in 2016, International Cancer Proteogenome Consortium (ICPC) was launched to provide a platform for world's leading cancer and proteogenomics research centers to enhance their research for precision medicine and its challenges for cancer. The ICPC is present in 13 countries comprising 33 institutes and 11 Clinical Proteomic Tumor Analysis Consortium members. Increasing research or application of proteogenome in the medical industry leads to growing demand for automated mass spectroscopy. In addition, the demand for mass spectrometry software is raised by various academic institutes as well as pharmaceutical and biopharmaceutical companies to enhance their research and drug development activities. Thus, increasing genomics and proteomic applications are expected to drive the market during the forecast period.
Deployment Type-Based Insights
Based on deployment type, the mass spectrometry software market is segmented into cloud-based and on-premises. The cloud-based segment held the largest share of the market in 2019. Also, the segment is estimated to register the highest CAGR of in the market during the forecast period due to easy accessibility to data from any place at any time. In addition, it provides high levels of security, scalability, accessibility, affordability, lower energy costs, and fast deployment. This is expected to accelerate the market’s growth.
Global Mass Spectrometry Software Market, by Deployment Type – 2019 & 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application-Based Insights
Based on application, the mass spectrometry software market is segmented into pharmaceutical companies, research organizations and institutions, and others. The pharmaceutical companies segment held the largest share of the market in 2019. The same segment is estimated to register the highest CAGR in the market during the forecast period.
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Mass Spectrometry Software Market: Strategic Insights
Market Size Value in US$ 5,037.56 Million in 2019 Market Size Value by US$ 8,541.36 Million by 2027 Growth rate CAGR of 7.0% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mass Spectrometry Software Market: Strategic Insights
Market Size Value in | US$ 5,037.56 Million in 2019 |
Market Size Value by | US$ 8,541.36 Million by 2027 |
Growth rate | CAGR of 7.0% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Akshay
Have a question?
Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystInorganic strategies, such as partnerships, merger and acquisition, are commonly adopted by companies to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally. The market players operating in the mass spectrometry software market also adopted organic strategies, such as product launch and expansion, to outstretch their footprint and product portfolio worldwide as well as to meet the growing demand.
By Deployment Type
- Cloud-based
- On-premises
By Application
- Pharmaceutical Companies
- Research Organizations and Institutions
- Others
By
Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Waters Corporation
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Sciex (Danaher Corporation)
- Advanced Chemistry Development
- Bruker
- Adaptas Solutions
- SpectralWorks Ltd.
- Shimadzu Scientific Instruments
- PerkinElmer, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The List of Companies - Mass Spectrometry Software Market
- Waters. Corporation
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Sciex (Danaher Corporation)
- Advanced Chemistry Development
- Bruker
- Adaptas Solutions
- SpectralWorks Ltd.
- Shimadzu Scientific Instruments
- PerkinElmer, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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