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(Health-NewsWire.Net, July 30, 2021 ) The major factors driving the growth of Metabolomics Market are the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, growing demand for personalized medicine and increasing use of metabolomics in toxicology testing are driving the growth of the global metabolomics industry.
According to the new market research report “Metabolomics Market by Product (GC,UPLC, CE, Surface based Mass Analysis), Application (Biomarker Discovery, Drug Discovery,Functional Genomics), Indication (Cardiology, Oncology,Inborn Errors), End User (Academic Institute,CROs) – Global Forecast to 2025” published by MarketsandMarkets™, the global metabolomics technology market size is projected to reach USD 4.1 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 13.4% during the forecast period.
Opportunity: Biomarker Development;
Metabolomics is used to identify new biomarkers through bioinformatics tools, which indicate the changes in the physiological state of a cell or tissue. Biomarkers are important for developing in-vitro diagnostic tools, environmental toxicology screening methods, and drug discovery and development techniques. The omics revolution of the last decade has increased the application of metabolomics in biomedical research. As a result of these technological developments, new biomarkers are being regularly discovered. These biomarkers are required in medical sciences to better define and diagnose diseases, predict adverse drug events, and identify patient groups who would benefit from specific treatments. Moreover, in the near future, identifying biomarkers related to safety, sensitivity, and resistance to commercially available drugs will present significant growth opportunities for the metabolomics technology market.
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Geographically; the global metabolomics market is segmented into North America, Europe, the Asia Pacific, Latin Ametica and Middle East & Africa. In 2019, North America accounted for the largest share of the market. The large share of the North America region can be attributed to the presence of major players operating in the market in the US, growing biomedical research in the US, and rising preclinical activities by CROs and pharmaceutical companies in the region.
The metabolomics market is dominated by a few globally established players such as Waters Corporation (US), Agilent Technologies (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), Danaher Corporation (US), Bruker Corporation (US), PerkinElmer (US), Merck KGaA (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Human Metabolome Technologies, Inc. (Japan), LECO Corporation (US), Metabolon, Inc. (US), Bio-Rad Laboratories (US), Scion Instruments (US), DANI Instruments S.p.A. (Italy), GL Sciences (Japan), SRI Instruments (US), Kore Technology Ltd. (UK), and JASCO, Inc. (US) among others.
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Market Segmentation in Detailed:
Cancer accounted for the largest share in the metabolomics market in 2019
Based on indication, segmented into into cancer, cardiovascular disorders, neurological disorders, metabolic disorders, inborn errors of metabolism, and other indications. The cancer segment is expected to account for the largest market share in 2020, with the highest growth rate as well. This can primarily be attributed to the growing use of metabolomics in cancer research and increasing number of cancer patients.
Academic and research institutes accounted for the largest share the metabolomics market in 2019
Based on end user, segmented into academic and research institutes, pharmaceutical & biotechnology companies, contract research organizations, and other end users. The academic and research institutes segment accounted for the largest share of the metabolomics technology market in 2019. The increasing number of research activities in the field of metabolomics and funding to the academic and research institutes to conduct metabolomics research are the factors responsible for the largest share of the segment.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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