Mass Spectrometry Market Set for Lucrative Growth in Coming Years
Due to the surging healthcare expenditure in several countries, rapid technological advancements and innovations in mass spectrometry devices, and the increasing concerns being raised over food safety, the global mass spectrometry market is predicted to exhibit huge expansion in the coming years. Many pharmaceutical companies are increasingly focusing on attaining good distribution practice (GDP) and good manufacturing practice (GMP) certifications, which is also fueling the growth of the market across the globe.
In several countries, food contamination has rapidly become a major issue over the last few years. The presence of chemicals, pathogens, and toxins in food items causes food contamination and makes it unfit for human consumption. In the food processing industry, poor water quality is a leading cause of food contamination. Therefore, in order to detect microorganisms in food products and ensure food safety, the companies operating in the food and beverages industry are increasingly adopting mass spectrometry.
Besides the increasing usage of mass spectrometry for mitigating food contamination, the rising healthcare expenditure in many countries is also driving the progress of the mass spectrometry market across the globe. Governments around the world are considerably increasing their healthcare spending every year in order to provide improved healthcare services and facilities to their people. Moreover, with the rising healthcare costs, government assistance is becoming more and more essential for people to access advanced medical treatments and patient care.
Hence, it is safe to say that the market would exhibit rapid advancement in the upcoming years, primarily because of the growing requirement for mass spectrometry in the food and beverages industry and their increasing usage by pharmaceutical companies for screening the impurities present in excipients.
Source: P&S Intelligence