Global Clinical Mass Spectrometry Market 2019-2023 | Rise in Aging Population to Boost Demand | Technavio
November 21 2018 - 11:49AM
Business Wire
Technavio analysts forecast the global clinical mass
spectrometry market to grow at a CAGR of close to 8% during
the forecast period, according to their latest market research
report. The growth momentum of the market is expected to accelerate
in the year-over-year growth.
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Technavio analysts forecast the global
clinical mass spectrometry market to grow at a CAGR of close to 8%
by 2023. (Graphic: Business Wire)
Increasing demand for clinical mass spectrometry in personalized
medicine is one of the major trends being witnessed in the
global clinical mass spectrometry market 2019-2023.
Personalized medicine refers to providing medical treatment
according to the individual characteristics of patients and offers
the potential to detect diseases at an earlier stage when treatment
can be effective. It increases the quality of clinical practice and
targeted care pathways and ultimately reduces the overall
healthcare costs. There is a growing popularity of using clinical
mass spectrometers in the development of personalized medicine for
the early detection of diseases and the selection of accurate
treatment methods that can reduce mortality rates. Such
developments will drive the growth of the market.
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According to Technavio analysts, one of the key factors
contributing to the growth of the global clinical mass spectrometry
market is the rise in the aging population:
Global clinical mass spectrometry
market: Rise in aging population
The increase in median age due to the high life expectancy has
resulted in the growth of the aging population. As the elderly
generally have low immunity and metabolism, they need to undergo
diagnostic tests such as microbial testing on a regular basis. This
results in an increased demand for clinical mass spectrometry that
reveals details about the casual microorganisms, based on which,
the physician decides the best course of treatment.
According to a senior analyst at Technavio, “World Bank says, in
2017, the number of people aged 65 years and above accounted for
8.69% of the global population. Thus, the increase in the aging
population globally would drive the demand for microbial testing.
Microbial identification with the help of clinical mass
spectrometry provides several advantages such as it is easy to use
and reduces the requirement for technical manpower. It is a
reliable, rapid, and cost-effective technique for the
identification of microorganisms.”
Global clinical mass spectrometry
market: Segmentation analysis
The global clinical mass spectrometry market research report
provides market segmentation by the end user (healthcare and
clinical research laboratory) and by region (the Americas, EMEA,
and APAC). It provides an in-depth analysis of the prominent
factors influencing the market, including drivers, opportunities,
trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018,
accounting for more than 41% share. It was followed by EMEA and
APAC respectively. The Americas owns the largest share of the
market owing to the increase in the number of research studies for
discovering new therapies for diseases such as cancer.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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