(PharmaNewsWire.Com, May 26, 2020 ) MarketsandMarkets forecasts the Metabolomics Market to grow USD 2.38 billion, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.
Market Dynamics:
Driver: Growing demand for personalized medicine;
Personalized medicine is a technology-based and patient-centered customization of diagnosis and treatment evaluation. Recent developments in analytical technologies, such as the emergence of high-resolution mass spectrometry, have provided revolutionary analytical capabilities in metabolomics, offering the detection of more than 10,000 metabolites at a given point of time. Such developments are opening new opportunities for the utilization of metabolomics in the development of personalized and precision medicine. As metabolomics precisely differentiates between two or more disease phenotypes, it can be applied to identify metabolites and biomarkers related to the perturbation being investigated by providing detailed cellular information.
Metabolomics plays a vital role in the fields of toxicity testing, biomarker development, drug discovery, and clinical diagnostics. Factors such as the growing demand for personalized medicine, increasing pharmaceutical and biotech R&D expenditure, and rising necessity for toxicology testing are driving the growth of the metabolomics market.
By application, the lung diffusion mixtures segment to accounted for the largest share of the market
Based on applications, the biomarker discovery segment accounted for the largest share of the global metabolomics market. The rising prevalence and incidence of chronic diseases such as cardiac diseases, cancer, and diabetes; growing acceptance of cancer diagnostic tests; and scientific progression in discovery technologies are major factors driving market growth in this segment.
By indication, the hospitals segment accounted for the largest share of the metabolomics technology market
Based on indication, the cancer segment accounted for the largest share of the global metabolomics market, in 2015. The large share of this segment can be attributed to the increasing utility of biomarkers in patient stratification and the drug development process and increasing scientific progression in discovery technologies.
APAC to grow at the highest CAGR during the forecast period.
North America is expected to hold the largest market size in the metabolomics market during the forecast period, followed by the European region. On the other hand, the Asia Pacific market is expected to witness the highest growth during the forecast period. Growth in this region can be attributed to the huge demand for metabolomics in drug discovery and biomarker development experiments. Factors such as significant growth in the life science industry, increasing investments by global players over the past few years, and increasing number of tie-ups between manufacturers and institutions in this region are also expected to support market growth in this region.
Key Market Players:
Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Danaher Corporation (US), Waters Corporation (US), Shimadzu Corporation (Japan)
Thermo Fisher Scientific accounted for the largest share of the global metabolomics market. Thermo Fisher provides a wide range of GC, LC, GC-MS, LC-MS, NMR spectrometer, and bioinformatics tools for metabolite analysis. The Analytical Technologies business segment of the company provides metabolomics solutions. The company has a strong presence in the US, which is the largest market for metabolomics.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
