The size of the mass spectrometry market in the Middle East and Africa is estimated to showcase a healthy CAGR during the forecast period. The market growth is driven by the increasing interest in drug discovery and development. Moreover, the increased use of hyphen technology is expected to drive the growth of the mass spectrometry market.
Mass spectrometers are used to conduct versatile and efficient experiments in the discovery of ligands of high affinity for biologically related macromolecules. Hence, the increasing emphasis on drug discovery and development is expected to drive market growth during the forecast period.
Factors such as high blood pressure, high cholesterol, and obesity, lack of physical activity, poor diet, and smoking can lead to major chronic diseases such as cardiovascular disease, cancer, chronic obstructive pulmonary disease, and type 2 diabetes, which is estimated to drive the MEA mass spectrometry market. The increasing prevalence of several chronic diseases worldwide encourages pharmaceutical and biotechnology companies and research institutes to focus on drug discovery and development. This has increased R&D expenditure in the pharmaceutical industries for newer drug discovery and development among end-users. Therefore, the adoption of mass spectrometers is increasing as a robust and valuable tool for the design of structure-based drugs.
The most recent technological developments have increased the prices of the system. The price of a spectrometer influences the purchasing decision of end-users. Pharmaceutical companies need many of these systems, and as a result, the cost of capital increases dramatically. In addition, academic research laboratories have difficulty financing these systems because they have controlled budgets. These are the main factors limiting the adoption of mass spectrometry systems among end-users.
Besides the cost of the system, the cost of complying with industry standards is also very high. Lack of knowledge about the correct choice of technology also affects the results and can generate direct and indirect costs for end-users. Currently, there is a shortage of qualified personnel for method development, validation, operation, and troubleshooting activities, which is expected to slow the growth of the mass spectrometry market to some extent in the coming years.
Impact of COVID-19 on the MEA mass spectrometry market:
The unexpected COVID-19 outbreak has significantly affected the mass spectrometry market. The market is expected to experience a diverse set of adoptions in 2020. The adoption of mass spectroscopy for testing applications is high in the healthcare and pharmaceutical, biologic research, and food and beverage industries.
The development of new drugs and the reuse of drugs, and the increasing production of pharmaceutical formulations have led to an increasing need for safety and quality measures in the pharmaceutical industry. Strict government regulations and increased demand for quality maintenance in these industries are leading to the adoption of mass spectrometry. However, supply chain disruptions in the petrochemical industry and relaxed pollution monitoring regulations are expected to limit the adoption of mass spectrometers.
This market research report on the Latin America mass spectrometry market has been segmented and sub-segmented into the following categories.
The mass spectrometry market in Saudi Arabia is primarily driven by factors such as increasing funding for research and government initiatives in the region, widespread use of mass spectrometry in the metabolomics industry, and petrol. In addition, regulatory bodies in the Kingdom of Saudi Arabia (KSA), such as the Food and Drug Administration (FDA), encourage the use of analytical techniques to ensure that pharmaceutical products placed on the market meet quality requirements. Lately, the KSA has seen a significant increase in the production of shale gas and crude oil with the increase in oil fields, which has resulted in a subsequent increase in the use of analytical tools such as mass spectrometers. The regions of Africa have slowed and weak growth due to underdeveloped populations and lack of development in R&D.
KEY MARKET PLAYERS:
Companies such as Thermo Fisher Scientific, Sciex, Agilent Technologies, Waters Corporation, Shimadzu Corporation, Bruker, PerkinElmer, Jeol, Flir Systems, MKS Instruments, Analytik Jena, Hiden Analytical, Dani Instruments, Rigaku, Leco, Kore Technology, Extrel CMS, Masstech, Ametek Process Instruments, and Advion are playing a leading role in the MEA mass spectrometry market.
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