(PharmaNewsWire.Com, December 02, 2020 ) According to the new market research report "Metabolomics Market by Product (GC, HPLC, UPLC, NMR, Mass Spectrometry, Surface based mass analysis, Bioinformatics), Application (Biomarker & Drug Discovery, Nutrigenomics, Toxicology), Indication (Oncology, Cardiology, Inborn Errors) - Forecast" published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
The Metabolomics Market is Projected to reach $2.38 billion, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.
Growth Boosting Factors:
- Availability of Government and Private Funding - Increasing Pharmaceutical and Biotech R&D Expenditure - Technological Advancements - Growing Demand for Personalized Medicine - Increasing Use of Metabolomics in Toxicology Testing
Key Market Growth Opportunities:
- Biomarker Development - Rapid Growth Opportunities in Emerging Markets
The global metabolomics technology market is highly competitive in nature, with the top five companies accounting for the major market share in 2015. Some key players in this market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), Shimadzu Corporation (Japan), Metabolon Inc. (U.S.), LECO Corporation (U.S.), Biocrates Life Sciences AG (Austria), Human Metabolome Technologies, Inc. (Japan), and Waters Corporation (U.S.).
Geographical Regions Mapped in Report:
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.
On the basis of products & services, the metabolomics market is segmented into metabolomics instruments and bioinformatics tools and services. In 2015, the metabolomics instruments segment commanded the largest share of the global market. This is mainly due to the ability of these instruments to separate and detect the complex structure of metabolites on a large scale, providing quality results. Furthermore, wide usage of these instruments in research activities, increase in funds for research projects, development of innovative technologies in these tools, and their extensive application in the drug discovery process are fueling the growth of this 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.
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