SINGAPORE, Nov. 8, 2017 /PRNewswire/ -- The mass spectrometry market is expected to exhibit strong growth in Asia-Pacific
Frost & Sullivan's market research, 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.
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"Although triple quadrupole liquid chromatography-mass spectrometer (LC-MS) systems dominate the market due to the need for increased sensitivity and specificity, advanced technologies such as TOF LC-MS, MALDI-TOF are expected to grow at a fast pace because of their high-resolution capabilities," said Frost & Sullivan Measurement & Instrumentation Research Analyst Sneha Ayyar. "The tandem quadrupole liquid chromatography-mass spectrometer segment is anticipated to register a CAGR of 8.5 percent from 2016 to 2021."
The Asia-Pacific market generated revenues of US$476.6 million in 2016 at a growth rate of 7.5 percent. North Asia outpaced South East Asia (SEA) and Australia and New Zealand (ANZ) in terms of revenue. However, SEA-ANZ holds significant potential for higher growth due to increasing investments and advancements in various industries. Other factors driving growth include:
"The market is beset by long replacement cycles of seven to 10 years. However, collaboration among market majors and research institutes will speed up the pace of innovation, which can prompt end users to upgrade their systems faster, breaking the replacement cycle," noted Ayyar.
Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021 research forms part of Frost & Sullivan's Test & Measurement Growth Partnership Subscription program. The study analyzes key market metrics, including drivers, restraints, forecasts and trends. Segment analysis for single quadrupole LC-MS, tandem quadrupole LC-MC, TOF LC-MS, GC-MS, MALDI-TOF LC-MS, and IPC-MS are provided, with industrial sector and applied market verticals assessed. Competitive and market share analysis for major players such as Agilent Technologies, Thermo Fisher Scientific, Water Corporation, AB Sciex, Shimadzu Scientific Instruments, and Bruker are discussed.
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Growth Opportunities in the Asia-Pacific Mass Spectrometry Market, Forecast to 2021P9CB-30
Contact:Carrie LowCorporate Communications Asia-PacificP: +603 6204 5910F: +603 6201 7402E: firstname.lastname@example.org
Melissa TanCorporate Communications Asia-PacificP: +65 6890 0926F: +65 6890 0999E: email@example.com
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SOURCE Frost & Sullivan
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