The Liquid Chromatography Mass Spectrometry (LCMS) Market is estimated to be valued at US$ 5.15 billion in 2022 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:-

·         Strength: LCMS technologies offer high selectivity and sensitivity for analysis of various compounds from complex mixtures in less time.

·         Weakness: LCMS instruments have high initial costs and require trained professionals for operation and maintenance.

·         Opportunity: Increasing R&D investments in pharmaceutical and biotechnology industries and growth in clinical testing labs present opportunity for market players.

·         Threats: Presence of cheaper substitutes such as gas chromatography mass spectrometry (GCMS) and lack of skilled professionals pose threats.

Key Takeaways:-

The Global Liquid Chromatography Mass Spectrometry (LCMS) Market Growth is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing demand from pharmaceutical and clinical research. In 2022, the market size was valued at US$ 5.15 billion.

Regional analysis: North America dominated the global market in 2022 owing to presence of many pharmaceutical companies and clinical research organizations in the US and Canada. Asia Pacific is anticipated to witness fastest growth due to rising pharmaceutical outsourcing in countries such as India and China along with growing biotechnology sector.

Key players analysis: Key players operating in the LCMS market are Danaher Corporation, PerkinElmer, Inc., Waters Corporation, Bruker Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation, JEOL Ltd., and Newomics, Inc. Danaher Corporation dominated the market with its broad product portfolio. Waters Corporation offers Synapt G2 high definition mass spectrometry system with advanced ion mobility.

 

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