High demand for metabolomics from various research institutes and pharmaceutical biotechnology companies is a key factor driving market revenue growth
The global metabolomics market size is expected to reach USD 5.10 Billion in 2028 and register a CAGR of 13.2% over the forecast period, according to the latest report by Reports and Data. Metabolomics market revenue growth can be attributed to its widespread use in pharmaceutical biotechnology companies, research academic institutes, and contact research organizations.
Constant development of advanced healthcare technologies by major players is expected to support metabolomics market growth during the forecast period. In addition, in developed countries, presence of state-of-the-art healthcare infrastructure for precise diagnosis and treatment of various disorders is expected to drive market growth during the forecast period.
Demand for metabolomics is increasing because of its ability to work as a drug discovering tool. Metabolomics is utilized for discovering different types of drugs as it can improve testing and discovery of novel drugs.
However, lack of awareness about metabolomics in underdeveloped countries, complexity of data generated during research activities, lack of advanced healthcare facilities in emerging countries, and high cost of novel tools and equipment can hamper market growth over the forecast period.
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Some Key Highlights From the Report:
- By application, biomarker discovery segment accounted for the largest revenue share in 2020. Increasing use of biomarkers can help in improving the diagnosis and therapeutic process of patients. In addition, rising technological advancements and increasing usage of metabolic biomarkers to determine the pathophysiological medical conditions of patients would propel growth of this segment. At present, metabolomics is considered to be one of the most important tools for biomarker discovery.
- By end-use, academic and research institutes segment accounted for largest revenue share in 2020 in the global market. Increasing number of government-funded researches that are being performed at academic and research institutes in the field of metabolomics is driving revenue growth of this segment.
- Demand for metabolomics is increasing because of technological advancements and launch of new products services in the market. Additionally, utilization of metabolomics in precision medicine is boosting metabolomics market revenue growth.
- Metabolomics market in North America accounted for the largest revenue share in 2020. Rising awareness among people, presence of a well-developed healthcare infrastructure for supporting RD activities, and technological advancements are anticipated to propel growth of this region. Apart from that, increasing geriatric population and rising number of research development activities in the field of metabolomics would also drive revenue growth of the market in this region.
North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.
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The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
Top companies operating in the market and profiled in the report include:
Agilent Technologies, Bruker Corporation, Danaher Corporation (SCIEX), LECO Corporation, Shimadzu Corporation, Thermo Fisher Scientific, Waters Corporation, PerkinElmer Inc., Kore Technology Limited, and Human Metabolome Technologies Inc.
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Further, the report segments the Metabolomics market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Metabolomics Market Segmentation:
Product Service Outlook (Revenue, USD Billion; 2018-2028)
- Metabolomics Separation Tools
- Gas Chromatography
- High-performance Liquid Chromatography
- Ultra-performance Liquid Chromatography
- Capillary Electrophoresis
- Metabolomics Detection Tools
- Nuclear Magnetic Resonance (NMR)
- Mass Spectroscopy (MS)
- Surface-Based Mass Analysis
- Bioinformatics Tools and Services
- Bioinformatics Services
- Bioinformatics Tools and Database
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Academic and Research Institutes
- Pharmaceutical Biotechnology Companies
- Contract Research Organizations
Application Outlook (Revenue, USD Billion; 2018-2028)
- Biomarker Discovery
- Drug Discovery
- Toxicology Testing
- Functional Genomics
- Personalized Medicines
Indication Outlook (Revenue, USD Billion; 2018-2028)
- Cardiovascular Disorders
- Neurological Disorders
- Metabolic Disorders
- Inborn Errors of Metabolism
- Other Indications
Regional Analysis covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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