The Asia-Pacific market touched US$150.1 million in 2016 and is expected to maintain a growth rate of 5.6 percent in 2017 and 2018. This steady growth will be due to the shift to high-resolution systems and other factors, such as:
Opportunities for halal testing, using LC-MS, driven by the 40 percent Muslim population in Southeast Asia8.4 percent growth in 2017 and 2018 in the Vietnam market due to the need for mass spectrometry equipment to certify the rising volumes of exports Miniaturization of the equipment to cater to lower-budget end users
Asia-Pacific Mass Spectrometry Market Outlook, 2017 and 2018, recent analysis from Frost & Sullivan’s Test & Measurement Growth Partnership Subscription, finds that Australia was the biggest revenue contributor with 24.4 percent of the total revenue share in 2016, followed by Thailand with 19.3 percent. New Zealand was the lowest contributor with 7.1 percent due to its size and economy.
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The market is beset by slow technology innovations and an average replacement cycle of seven to 10 years. However, the increasing need in end-user applications to identify everything from the known to the unknown in the sample and collaborations among market majors and research institutes can speed up the pace of innovation, which can prompt end users to upgrade their systems faster, breaking the replacement cycle.
“The mass spectrometry market is gradually posed to move towards the applied markets; nevertheless, mature countries will continue to focus on life sciences applications due to a steady demand from them,” noted Ayyar. “In 2017 and 2018, the biggest opportunities in mass spectrometry will lie in improved automation, critical data security support for software, analytics and computing.”
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Asia-Pacific Mass Spectrometry Market Outlook, 2017 and 2018
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SOURCE Frost & Sullivan