Global Selected Reaction Monitoring Market Size By Type (Human Discovery Assay, Human Cancer MRM Assay), By Application (Hospitals, Research Institutes), By Region, And Segment Forecasts, 2023 to 2032

lobal Selected Reaction Monitoring Market Report Description

The Global Selected Reaction Monitoring (SRM) Market was valued at USD 1.1 billion in 2023 and is projected to surpass USD 2.6 billion by 2031, growing at a CAGR of 11.4% during the forecast period from 2023 to 2031. SRM, a highly specific and sensitive mass spectrometry-based technique, is extensively used for targeted protein quantification in clinical diagnostics, pharmaceutical research, and biomarker discovery. The increasing prevalence of chronic diseases, advancements in proteomics technologies, and rising investments in precision medicine are significantly driving the adoption of SRM in both research and clinical laboratories.

Drivers:

1. Growth in Personalized and Precision Medicine:

The increasing shift towards personalized treatments requires precise biomarker validation and protein quantification, where SRM plays a vital role. Its ability to selectively monitor specific peptides makes it a critical tool in individualized drug response profiling.

2. Advancements in Mass Spectrometry Platforms:

Continuous innovations in high-resolution and triple quadrupole mass spectrometers have enhanced the accuracy, speed, and reproducibility of SRM, expanding its use in translational and clinical research applications.

3. Expanding Clinical Applications:

SRM is becoming integral to clinical diagnostics due to its ability to analyze multiple biomarkers simultaneously with high sensitivity. This is particularly useful in oncology, cardiovascular disease, and neurodegenerative disorder diagnostics.

Restraints:

1. High Equipment and Operational Costs:

The adoption of SRM technologies often demands significant investments in mass spectrometry equipment and trained personnel, which can be a barrier for smaller labs and institutions in developing economies.

2. Limited Standardization:

Lack of standardized protocols and validation guidelines for SRM assays across laboratories can impact reproducibility and hinder broader clinical implementation.

Opportunity:

1. Growth in Proteomics and Biomarker Research:

The surge in proteomics studies and the need for robust biomarker validation techniques are opening new avenues for SRM, especially in early disease detection and therapeutic monitoring.

2. Increasing Government and Institutional Funding:

Rising investments by governments and research institutions in life sciences and precision diagnostics are creating strong demand for targeted mass spectrometry techniques like SRM.

Market by System Type Insights:

By system type, Triple Quadrupole Mass Spectrometers accounted for the largest market share in 2023 due to their superior specificity and sensitivity. These instruments are ideal for targeted quantification of proteins and metabolites, making them the preferred choice for SRM. The segment is expected to continue dominating the market, supported by continual improvements in detection capabilities and throughput.

Market by End-use Insights:

Based on end-use, Pharmaceutical & Biotechnology Companies led the market in 2023, driven by their increasing focus on biomarker validation and targeted drug development. SRM allows these companies to efficiently screen and quantify candidate biomarkers. Additionally, the Academic & Research Institutes segment is expected to witness notable growth owing to the rising number of proteomics and translational medicine studies globally.

Market by Regional Insights:

Regionally, North America held the dominant market share in 2023, owing to its robust healthcare infrastructure, early adoption of precision diagnostic tools, and significant R&D investments. However, Asia-Pacific is projected to register the highest CAGR during the forecast period, supported by increasing healthcare expenditure, expanding research capacities, and growing awareness of advanced diagnostic technologies in countries like China, India, and South Korea.

Competitive Scenario:

Key players in the global SRM market include Thermo Fisher Scientific Inc., SCIEX (a Danaher Company), Agilent Technologies, Bruker Corporation, Waters Corporation, Shimadzu Corporation, PerkinElmer Inc., Bio-Rad Laboratories, and Biognosys AG. These companies are focusing on strategic collaborations, technological advancements, and product innovations to strengthen their market position.

Recent Developments:

In 2023, Thermo Fisher Scientific launched an upgraded triple quadrupole system optimized for higher throughput SRM assays.

Agilent Technologies introduced a new software platform in 2024 integrating SRM workflows with AI-based data analysis tools for enhanced diagnostic precision.

In 2025, SCIEX announced a strategic partnership with a leading cancer research institute to accelerate biomarker discovery using SRM-based proteomics.

Scope of Work – Global Selected Reaction Monitoring Market

Report Metric Details

Market Size (2023) USD 1.1 billion

Projected Market Size (2031) USD 2.6 billion

CAGR (2023–2031) 11.4%

Market Segments By System Type (Triple Quadrupole, Hybrid Systems), By End-use (Pharma, Research, Diagnostics)

Growth Drivers Expansion of precision medicine, advancements in mass spectrometry platforms

Opportunities Surge in proteomics research, funding in targeted diagnostics

FAQs

1) What is the current market size of the Global Selected Reaction Monitoring Market?

The market was valued at USD 1.1 billion in 2023.

2)