Newark, NJ, Feb. 03, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global metabolomics market is expected to grow from USD 2.01 billion in 2020 to USD 4.50 billion by 2028, at a CAGR of 10.6% during the forecast period 2021-2028.
There are certain major factors that are driving the growth of the global metabolomics market. Some of them include expanding private as well as government funding for research in metabolomics, increasing R&D activities in the biopharmaceutical & pharmaceutical industry, rising geriatric population, modern innovations & technological advancements in metabolomics instruments, increasing need for personalized medicine, various metabolomics uses in toxicology testing and the surging number of cancer patients.
Metabolomics analyzes particular chemical fingerprints that biological processes leave behind on a cellular level. The modern scientific community has been integrating transcriptomic, metabolomic, and proteomic information since the past decade, which has assisted in the prompt detection of infectious and genetic diseases.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the metabolomics market. With less disposable income and broken supply chains, the market’s growth is expected to slow down. The pandemic temporarily halted research activities in various academic institutes, laboratories, and research centers all over the world. Also, the data generated during metabolomics research is highly complex, which is a challenging factor for the market.
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Key players operating in the global metabolomics market include Agilent Technologies, Thermo Fisher Scientific, Merck KGaA, Hitachi High-Technologies Corporation, Waters Corporation, Shimadzu Corporation, Danaher Corporation, GE Healthcare, Human Metabolome Technologies, Inc., Metabolon, Inc. Scion Instruments, GL Sciences, and Kore Technology Ltd., among others. To gain a significant market share in the global metabolomics market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Hitachi High-Technologies Corporation and Thermo Fisher Scientific are some of the most prominent players in the global market.
- For instance, Thermo Fisher Scientific and Agilent extended their partnership in 2020 in order to improve the compatibility & integration of Agilent’s OpenLAb Chromatography Data System with Thermo Fisher’s analytical systems.
- Danaher Corporation purchased General Electric Healthcare’s Life Sciences business in 2020.
Separation tools dominated the market and held the largest market share of 29.7% in the year 2020
The product & service segment consists of detection tools, separation tools, bioinformatics tools & databases, and bioinformatics services. The separation tools segment dominated the market and held the largest market share of 29.7% in the year 2020. Some of the critical factors that are boosting the growth of this segment are the broad usage of separation tools in R&D, development of advanced technologies, increasing research funding, and its wide-ranging application in drug discovery processes.
Cancer dominated the market and was valued at USD 0.42 billion in the year 2020
The indication segment comprises metabolic disorders, neurological disorders, cardiovascular disorders, cancer, inborn errors of metabolism, and others. The cancer segment dominated the market and was valued at USD 0.42 billion in the year 2020. This segment is also forecasted to grow at the highest CAGR during the coming years.
Biomarker discovery dominated the market and held the largest market share of 13.9% in the year 2020
Based on application, the market has been segmented into functional genomics, drug discovery, biomarker discovery, nutrigenomics, personalized medicine, toxicology testing, and others. Biomarker discovery dominated the market and held the largest market share of 13.9% in the year 2020. The large share of this segment can be primarily attributed to the rising usage of metabolic biomarkers to gauge the pathophysiological status of patients.
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Academic & research institutes dominated the market and was valued at USD 0.66 billion in the year 2020
On the basis of end-user, the metabolomics market has been divided into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations, and others. Academic & research institutes dominated the market and was valued at USD 0.66 billion in the year 2020. Some of the crucial factors that are fuelling the growth of this segment are increasing research activities being conducted in the metabolomics field and increasing funding for said research.
Regional Segment Analysis of the Metabolomics Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global metabolomics market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North American region accounted for the major market share of 44.5% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the existence of key metabolomics industry players in the United States, expanding biomedical research & development activities in the US, and increasing preclinical endeavors by pharmaceutical companies and contract research organizations in the region. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is owing to factors like increasing demand for better pharmaceutical products, the rapid development of medical technology and improving economic conditions.
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About the report:
The global metabolomics market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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