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The European mass spectrometry market has reached a stage of maturity and is expected to witness a compound annual growth rate (CAGR) of 7.2% from 2018 to 2025.
The current and future focus on technological advancements in this market is on designing instruments capable of performing faster analysis than the previous version with better selectivity and sensitive to detect not only target compounds but also unknown compounds that researchers are not aware about.
In all, 90.0% of the mass spectrometers (MS) in the market are bench top laboratory equipment. Introducing process equipment that are as sophisticated and accurate as benchtop will aid manufacturers capture more business due to limited solutions currently available in the market.
Another solution to field testing is by incorporating features for remote operations in laboratory equipment, thereby completing primary tests in the field using sensors, followed by back-end in-depth computation at the lab for final results. From the large volume of data available, meaningful data can be extracted that will benefit scientists in their experimental studies.
Among the end-user industries in Europe that have high growth, environmental and food & beverage (F&B) due to ever-growing population, increased need to reduce mortality rate with medication, and plethora of regulations to protect the environment and food. Germany and France are the demand-generating regions in Europe.
Germany, UK, Italy, France and Switzerland are the top 5 regions constituting 61.1% of the total European revenue and other European countries in this study that include Benelux, Sweden, Russia, Central Europe, Denmark, Spain, Iberia and Scandinavia comprise of the rest.
Increase in stringent regulations relevant to environment , food and drug quality is one of the important drivers in the European Mass Spectrometry market growth. In terms of applications of MS – food, environmental , pharma and government and academic research institutions are the top 4 European end-user industries.
Europe is a second largest exporter of food globally. Switzerland and Russia are the countries known for importer of food and its raw materials which need to be tested before the end product is sold out. Constantly growing population and love for food varieties from specific regions such as Italy by travellers attracts the growth of this industry which further is expected to boost the MS market in Europe
There are on-going research projects to reduce the mortality rates due to diseases such as HIV/AIDS, and different types of cancers and constant drugs development for conditions such as hypertension and high cholesterol. These are drivers with high impact rates to help the growth of MS market in Europe. The top 5 countries with investments include Germany, France, Italy, Spain and the UK
Europe comprises 27 percent of the world’s chemical industry and Germany ranks no. 1 in the production of petrochemicals, polymers and fine chemicals followed by France, Italy and the UK. Although Europe has a strong chemical industry, there is a trend of migration to Asian countries to reduce the operational costs and because of more stringent environmental regulations within Europe. This trend has already and is expected to negatively affect the mass spectrometry demand in the chemical industry sector by purchasing instruments from local Asian players.
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