The mass spectrometry market size is projected to reach $8.5 billion by 2022, growing at a CAGR 2016-2022. The global market is increasing, due to increasing food safety concern, growing demand in life science and clinical analysis sector, and increasing healthcare expenditure and development of healthcare infrastructure.  In addition, the technological advancements with advent of mass spectrometry equipment are further encouraging the  growth of the market.

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The demand for mass spectrometry is growing rapidly in life science and clinical sector. Some of its most common applications in life science and clinical studies are determination of protein structure, interactions and folding; protein identification from the mass of its peptide fragment; relative or absolute quantification of proteins in a given sample; monitoring of enzyme reactions; chemical modifications; protein digestion; forensic analysis; and disease biomarkers detection. All these applications are very vital in life science and clinical studies and with increasing healthcare awareness, advanced research and development, increasing cases of drug abuse, and high number of metabolic diseases, the demand for mass spectrometer is rapidly growing. Mass spectrometer is an important analytical tool for the study of proteins. Proteomics is very difficult to analyse and study, due to the complexity of its structures. Mass spectrometry helps to analyse the composition of different biological samples and offers quantitative proteogenomics and proteomics. All these factors tend to drive the growth of the mass spectrometry market.

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Germany held the largest share (23.4%) in the European mass spectrometry market in 2015. The major factors driving the growth of the German market are high healthcare expenditure, increasing research and development for drug discovery, increasing demand for clinical testing and increasing environment applications.

The key companies operating in the mass spectrometry market include Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd.