The mass spectrometry software sector was valued at approximately US$ 5,037.56 million in 2019 and is anticipated to grow to around US$ 8,541.36 million by 2027, reflecting a compound annual growth rate (CAGR) of 7.0% from 2020 through 2027.
The expansion of this market is largely driven by the increasing utilization of genomics and proteomics, alongside a surge in the introduction of new software solutions. Nevertheless, the growth of the mass spectrometry software market faces several challenges, including difficulties in system management, a shortage of qualified professionals capable of accurately interpreting data and conducting analyses, as well as issues related to workflow management that impede market advancement.
In the upcoming years, the mass spectrometry software market is projected to experience substantial growth, primarily due to the influx of innovative software solutions tailored for mass spectrometry applications. There has been a notable increase in the number of bioinformatics firms, with significant investments directed towards the creation of software and solutions that facilitate the automated, efficient, and effective transcription of data. Recent notable launches in mass spectrometry software include:
• In July 2020, SCIEX (a subsidiary of Danaher Corporation), a company specializing in life science analytical technologies, unveiled its fully integrated SCIEX OS Software. This software is designed to work seamlessly with the Echo MS System and the SCIEX Triple Quad 7500 LC-MS/MS System (QTRAP Ready). The software enhances usability, efficiency, and data integrity for researchers, featuring capabilities such as automatic detection of sample failures, corrective actions, exception flag reviews, improved peak modeling for peak identification and integration, automated result verification, outlier removal, and intuitive audit trails that ensure comprehensive traceability and accountability.
• In May 2020, Thermo Fisher Scientific Inc. launched new products based on its advanced Orbitrap platform, aimed at broadening research applications. The company introduced the Thermo Scientific Orbitrap Exploris 240 and Thermo Scientific Orbitrap Exploris 120 mass spectrometers, which are enhancements of the Thermo Scientific Orbitrap Exploris 480 mass spectrometer. These systems are integrated with Thermo Scientific Proteome Discoverer 2.5 software, Thermo Scientific BioPharma Finder 4.0 software, and Thermo Scientific Xcalibur 4.4 software. This new product line is designed to meet the needs of biopharmaceutical characterization of small molecules through proteomics and metabolomics, addressing the analytical performance challenges essential for research and improving quality outcome analyses.
• In April 2019, Agilent Technologies, Inc. introduced a new and enhanced series of mass spectrometry software and solutions. This includes the MassHunter Quantitative Analysis 10.0 software, the new MassHunter Classifier software, the MassHunter Lipid Annotator, and the Agilent Bravo Metabolomics Sample Prep Platform. These newly launched products are specifically designed to support food testing, environmental screening, and workflows in metabolomics research laboratories.
The mass spectrometry software market is categorized by deployment type into cloud-based and on-premises solutions. In 2019, the cloud-based segment dominated the market share and is projected to exhibit the highest CAGR during the forecast period.
Regarding application areas, the mass spectrometry software market is divided into segments including pharmaceutical companies, research organizations and institutions, among others. The pharmaceutical companies segment accounted for the largest market share in 2019 and is expected to achieve the highest CAGR throughout the forecast period.
Key secondary sources utilized in the preparation of this report include the German Society for Mass Spectrometry, the Brazilian Society of Mass Spectrometry, the National Mass Spectrometry Facility, and the Russian Mass Spectrometry Interest Group.