However, technological advances, mounting awareness of their role in clinical diagnostics and a widening application base are set to promote the uptake of MS instruments over the next few years.
New analysis from Frost & Sullivan (drugdiscovery.frost.com), Opportunities for the European Mass Spectrometry Market in Clinical Applications, finds that the market earned revenues of $562.0 million in 2007 and estimates this to reach $1,078.8 million in 2014.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the opportunities for European mass spectrometry market in clinical applications, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com. Include your full name, company name, title, telephone number, company email address, company website, city, state and country, and an overview will be sent to you by email upon receipt of the above information.
"The European MS markets will be driven by the ongoing implementation of competitive strategies, including the hybridisation of existing spectrometric techniques (Tandem MS) for accurate throughput results," notes Frost & Sullivan Research Analyst Suraj Ramanathan. "In the clinical diagnostic sector, areas such as biomarker identification and automated genotyping have exhibited a phenomenal increase in the usage of hybrid MS instruments."
Currently, Tandem MS is the most powerful tool in the identification of peptides and proteins for proteomics and drug discovery research. With higher resolution and accuracy standards being of prime importance for researchers and physicians, hybrid MS systems offer a potential strategy to attain greater market presence.
One of the most important challenges faced by market participants relates to the stabilisation of product pricing. R&D costs tend to be extremely high. Therefore, to recoup their outlay and make sizeable profits, manufacturers are compelled to price their instruments at relatively high levels.
"To make adequate returns after incurring expenditure on various external factors such as production, sales and marketing, manufacturers are being forced to increase the price of such analytical instruments," adds Ramanathan. "In turn, researchers are having to compromise on their funds to obtain quality data coupled with faster throughput results."
To succeed in this market, companies should form favourable partnerships, alliances or investigate mergers and acquisitions. Owing to the rising R&D investments in life sciences and bioinstrumentation, market participants stand to benefit by merging or partnering with other companies, thereby reducing their expenditure. Other advantages of this strategy include an exchange of basic technology and building a broader customer base, together with a stronger sales and distribution network.
Opportunities for the European Mass Spectrometry Market in Clinical Applications is part of the Drug Discovery Technologies Growth Partnership Services Programme, which also includes research in the following markets: European Molecular Diagnostics Markets, European IVD Market, European Cancer Diagnostic Market and European Primary Care Diagnostics. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
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