(PharmaNewsWire.Com, October 29, 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 Technology Market worth $2.38 billion, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.
Growth Driver in Depth:
- 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 Opportunities: - Biomarker Development - Rapid Growth Opportunities in Emerging Markets
On the basis of products & services, segmented into metabolomics instruments and bioinformatics tools and services. The metabolomics instruments segment commanded the largest share of the global metabolomics 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.
The global metabolomics market is highly competitive in nature, with the top five companies accounting for the major market share. 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.). These leading players have primarily focused on product launches, acquisitions, agreements, collaborations, partnerships, and expansions for growth in the market.
Geographical Regions Mapped in Report:
North America is expected to hold the largest market size in the metabolomics technology 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.
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:
