Frost & Sullivan's market research, the mass spectrometry market is expected to exhibit strong growth in Asia-Pacific due to technology advancements, growing end-user industries, rapid evolution of healthcare, life science research, and increasing support and funding from governments. After that mouthful, the research firm says product and technology innovation is driving a transition from traditional systems to high-resolution technologies such as matrix-assisted laser desorption/ionization-time of flight (MALDI-TOF). The resulting improvement in accuracy, resolution and sensitivity will open up a host of opportunities in clinical diagnostics, environmental testing, and food and beverage testing.
Frost & Sullivan's report, Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021, finds that North Asia, comprising of Japan, Taiwan and South Korea, accounted for 65.6 percent of the total mass spectrometry market in Asia-Pacific and is expected to register a compound annual growth rate (CAGR) of 9.1 percent from 2016 to 2021. The growing pharmaceutical industry, increasing healthcare support from the government, and adoption of new applications in applied markets are key factors driving North Asian market growth.
Other factors driving growth include:
•Expanding use of mass spectrometers in the pharmaceutical and biopharmaceutical industries, along with growing adoption in applied markets, clinical analysis, and life science;
•Miniaturization of the equipment to aid surgery and surgical resection;
•Regulatory compliance testing, specifically in food testing and environmental industries; and
•Adoption spurred by product launches with sizable improvements in sensitivity, resolution, speed, and throughput.
More information on this analysis and report is available.