June 18, 2024

The Rapid Growth Of The Liquid Chromatography Mass Spectrometry (LCMS) Market Driven By Increasing Demand From Pharmaceutical And Biotechnology Industries

Liquid chromatography mass spectrometry (LCMS) is a powerful analytical technique used in various industries including pharmaceutical and biotechnology for the identification and quantification of drugs, metabolites, proteins and other biomolecules in complex biological mixtures. LCMS combines the physical separation capabilities of liquid chromatography with the mass analysis performance of mass spectrometry. This allows researchers to measure the unique molecular masses and fragmentation patterns of different compounds separated by the chromatographic column. LCMS has revolutionized various areas of life sciences research by enabling accurate detection and identification of very low analyte concentrations from complex biological matrices.

The global Liquid Chromatography Mass Spectrometry (Lcms) Market is estimated to be valued at Us$ 5.52 Bn in 2023 and is expected to exhibit a CAGR Of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

Triple quadrupole LCMS systems are increasingly gaining popularity over single quadrupole systems due to their superior capabilities for quantification of target compounds in complex mixtures. Triple quadrupole LCMS instruments allow accurate selection and monitoring of parent/daughter ion transitions which provides high analytical selectivity and sensitivity for quantification of specific analytes. Their ability to perform multiple reaction monitoring enables quantification of several compounds simultaneously, thus enhancing sample throughput. As a result, pharmaceutical and biopharmaceutical industries are significantly investing in triple quadrupole LCMS systems for drug discovery, development and quality control applications.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the LCMS market as it requires huge investment for R&D and maintaining expensive infrastructure for manufacturing.

Bargaining power of buyers: The bargaining power of buyers is moderate as LCMS systems are expensive and not available from a wide range of suppliers.

Bargaining power of suppliers: The bargaining power of suppliers is high given the specialized components and expertise required for manufacturing LCMS systems. Suppliers can influence prices.

Threat of new substitutes: There is low threat from substitutes as LCMS systems provide accurate results and are considered the gold standard for compound identification and quantification in various industries.

Competitive rivalry: The competitive rivalry is high among the key players to gain market share using strategies of new product launches and partnerships.

Key Takeaways

The Global Liquid Chromatography Mass Spectrometry (LCMS) Market Demand  is expected to witness high growth over the forecast period. The global Liquid Chromatography Mass Spectrometry (LCMS) Market is estimated to be valued at US$ 5.52 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030.

North America region is currently the largest market for LCMS systems owing to strong government funding for research activities and presence of key players. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing R&D investments in pharmaceutical and biotechnology industries of major countries like China and India.

Key players operating in the Liquid Chromatography Mass Spectrometry (LCMS) market include Toyota, Shimadzu, Agilent Technologies, SCIEX, PerkinElmer and Bruker. These players are focusing on new product launches and partnerships to enhance their product portfolio and presence in the market. For instance, in 2023, Shimadzu launched its new TripleTOF 7600+ System featuring advanced ion optics and detectors to deliver superior MS/MS capabilities.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it