Healthcare Industry Updates Mass Spectrometry Market | Page 3

plasma mass spectrometry). In 2017, the hybrid mass spectrometry segment is expected to account for the largest
share of this market. The extensive applications of hybrid mass spectrometers coupled with the technological
advancements in mass spectrometry are driving the growth of this segment.
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By application, the pharmaceutical application industry held the largest market share in 2017
Based on application, the Mass Spectrometry Market is further segmented into pharmaceutical application,
biotech application, environmental testing, food and beverage testing, petrochemical applications, and other
applications. In 2017, the pharmaceutical applications segment is expected to account for the largest share.
Extensive use of mass spectrometry technologies at various stages of drug development processes and increase in
R&D investments by pharmaceutical industries are driving the growth of the market.
North America dominated the market in 2017
North America accounted for the largest share of the Mass Spectrometry Market in 2016, followed by Europe. High
usage of mass spectrometry in the pharmaceutical sector, growing funding to favor Mass Spectrometry Market in
the US, high petrol and natural gas production, growing biopharmaceuticals and biotechnology research &
development and fundings for innovation based projects in Canada is expected to drive market during the forecast
period.
Factors such as availability of funds for research, growing cosmetics industry in Germany, growing food safety
concerns and increased investments for pharmaceuticals in the UK, favorable scenario of biotechnology and
pharmaceutical industry in Italy, company's expansion in France and strong food and beverage industry
in Spain are driving factors of the European Mass Spectrometry Market.