Q-TOF Mass Spectrometry Market: Key Growth Strategies Adopted by Leading Players Like Waters Corporation (US), Agilent Technologies (US), SCIEX

Illinois, United States, 2021-Jan-15 — /EPR Network/ — Waters Corporation (US), Agilent Technologies (US), and SCIEX [(a part of Danaher Corporation (US)] are the key players in the Q-TOF mass spectrometry market. The other players involved in this market include Bruker Corporation (US) and Shimadzu Corporation (Japan).

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.

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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.

Expected Revenue Growth:

[103 Pages Report] The global Q-TOF mass spectrometry market was valued at USD 651.5 million in 2016 and projected to reach USD 1,009.7 million by 2022, grow at a CAGR of 7.7%

Major Growth Boosters:

The rising applications of Q-TOF mass spectrometers in pharmaceuticals and biotechnological industries, coupled with the increasing R&D activities in these sectors, would result in high adoption of this technology. In addition, favorable government initiatives and increased focus on producing high-quality products are the major factors that contribute to the market growth. This is particularly evident in the high-growth emerging nations in Asia Pacific and Latin America.

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Regional Growth Analysis:

Geographically, North America is estimated to account for the largest share of the global Q-TOF mass spectrometry market, followed by Europe. The growing government funding and increasing biotech and biopharma R&D in the US are the major factors driving the growth of the North American market. The increasing funding for R&D in Canada is expected to propel the market growth during the forecast period. However, the high costs of Q-TOF mass spectrometry instruments is restraining the growth of this market at present.