A favorable forecast for MS domain
Despite a number of challenges, the MS market in India continues to grow with existing players stepping up their operations to beat competition
BioSpectrum estimates have spotted the overall mass spectrometry (MS) market size in India to be at $65 million, growing at an average rate of 15 percent over last year. The mass spectrometry market can be roughly divided into four sectors, mainly liquid chromatography MS which commands the lions share standing at $45million, gas chromatography MS (GCMS), inorganic MS and elementary MS. Of these the GCMS segment estimated to be $12 million, has been rising up to its potential by growing at a healthy 15 percent and has displayed ample potential as well.
The high technology nature of this segment has ensured that companies such as AB Sciex, Waters, Agilent, and Thermo Fisher remains as the top players to reckon with, this year too. The ability to provide good technical support to customers through companies' analytical labs has been a differentiating factor among the major players.
Current market scenario
AB Sciex continues to dominate by holding over 40 percent market share, while Waters has been closing in on its competitors by increasing its market share to 30 percent as compared to 25 percent last year, having sold over 65 units in this category. Additionally, Thermo Fisher continued to hold a share of 15 percent and has the plans of further increasing it after they acquired Dionex last year. Bruker has been showing good signs of progress by increasing its market share to approximately 10 percent.
The predominant share, in terms of demand for MS instruments, has always been held by the pharma industry, with industry sources estimating it to be over 60 percent. However, last year saw a lot of pharma companies and CROs shy away from making major investments due to regulatory issues, leading to a slight decline in number of orders received.
The public sector, consisting of academic and government labs constitute about 18 percent of the market. A number of factors will continue to influence the market, in the next year, mainly the increased expenditure that is expected, once the allocation for scientific research in the 12th Five Year plan is realized. The plan puts educational institutes in a better position to make large purchases such as that of MS instruments.
A host of new products were introduced into the market last year. Waters released three products including a tandem quadrupole mass detector (TQD). AB Sciex too launched triple quadrupole detectors, equipped to handle qualitative and quantitative features in metabolite identification, proteomics research and biomarker discovery, which have been received favorably by the research community.
Industry sources have stated that the year 2012 has started out on a better note with leading companies having secured a greater number of orders than the same period last year. Many companies such as Waters have thus reported a more positive outlook for the days to come for mass spectrometry segment.
Estimated revenue for MS segment is $65 million, recording a 15% growth when compared to last year
Liquid chromatographic MS grosses major share of $45 million
AB Sciex continues to dominate, while Waters, Agilent and Thermo Fisher are key players
Public sector holds18% share