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(Health-NewsWire.Net, August 25, 2020 ) According MarketsandMarkets Research - The Metabolomics Market to reach USD 2.38 billion, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.
Growing Demand for Personalized Medicine Drive the Metabolomics Market;
The growing focus on personalized medicine has driven the use of metabolomics tools by manufacturers engaged in developing rigorous strategies for understanding the root of a disease rather than simply treating a patient’s symptoms. 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. Considering significant developments in the field of metabolomics, coupled with the increasing focus of industry participants to leverage the advantages of metabolomics approaches in the development of personalized medicine, the market is expected to witness significant growth in the coming years.
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Market Segmentation in Depth:
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.
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.
Recent Developments;
- In December 2016, Shimadzu launched the NOA-7100 transportable NOx-O2 analyzer for quantifying nitrogen oxides (NOx) and oxygen (O2) concentration in real time. This launch enhanced the company’s portfolio.
- In December 2016, Agilent Technologies collaborated with Transcriptic Inc. (U.S.), a robotic cloud-based biotechnology laboratory, to develop and provide rapid and efficient technologies for broad scale synthetic and discovery. This collaboration helped Agilent enhance its market position by serving a global customer base with automated and robotics workflows for bioreagent optimization.
- In November 2016, Waters Corporation launched CORTECS T3 and CORTECS Shield RP18 column chemistries. These columns provide speed, selectivity, and sensitivity in UPLC, UHPLC, and HPLC separations. This launch expanded the company’s customer base for the CORTECS Columns product line.
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North America accounted for the largest share of the metabolomics market, followed by Europe. Easy accessibility to technologically advanced products and the presence of a large number of leading metabolomics manufacturers in the region are driving market growth in North America. Similarly, the rising acceptance of personalized medicines, increasing metabolomics research activities, and growing adoption of technologically advanced products are driving the growth of the North American metabolomics market. The Asia-Pacific region is expected to witness the highest growth in this market majorly due to improving biopharmaceutical research infrastructure, large population, rising healthcare needs, growing per capita income, and growing economies in Japan and India.
The global metabolomics 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.). These leading players have primarily focused on product launches, acquisitions, agreements, collaborations, partnerships, and expansions for growth in the market.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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