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Metabolomics Market - Popular Trends & Technological advancements to Watch Out for Near Future 2023
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North America is the largest market for metabolomics products and services, mainly due to the factors such as presence of large number of funding from government and private bodies, and availability to technologically advanced products, with the dominance of some of the key players in the region.
Asia-Pacific is expected to witness the fastest growth for the metabolomics market during forecast period. The major factors driving its growth are increasing healthcare and R&D expenditure, rise in adoption of technology for clinical applications, and the growing focus of major players to explore the untapped market.
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Among different clinical indication, cancer is the largest contributor to the metabolomics market. This is mainly due to the global rise in prevalence of cancer, and the increasing oncological research activities. According to the World Health Organization (WHO), cancer has been the second leading cause of deaths globally, and accounted for 8.8 million deaths in 2015. Other clinical indications for metabolomics are cardiovascular disorders, neurological disorders, inborn errors of metabolism and others.
The metabolomics industry provides immense opportunities to key players to explore the untapped market in the developing economies. Additionally, the wide array of upcoming research in the field of biomarkers development also provides immense opportunities for the growth of the global metabolomics market.
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Some of the key players in the global market include Agilent Technologies, Inc., Danaher Corporation, Waters Corporation, Shimadzu Corporation, Bio-Rad Laboratories, Inc., Bruker Corporation, Human Metabolome Technologies Inc., Metabolon, Inc.
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