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Metabolomics Market Size, Industry Share, Growth, Covid 19 Impacts, Outlook – 2023

10-26-2020 05:50 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Metabolomics Market

Metabolomics Market

According to the report, the global metabolomics market was valued at $1,572 million in 2017 and is expected to reach $3,301 Mn by 2023, growing at a CAGR of 13.2% during the forecast period.

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The biomarker discovery segment contributed to the highest market share in 2017 and will maintain its dominant share during the forecast period. Advancements in quantification methods & technologies along with rising in concerns regarding the prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer would fuel the growth of this segment.

The report offers insights on drivers, restraints, and opportunities of the global metabolomics market. A surge in the adoption of metabolomics in precision medicine and a rise in R&D investments are expected to facilitate market growth. In addition, technological advancements for auxiliary medical devices utilized for analysis of metabolomics and a rise in demand for quality medications supplements the growth of the market. However, expensive medical devices and lack of effective data management for the profiling of metabolomics restrain market growth.

Key Findings of the report:

The drug discovery segment is anticipated to witness the highest growth rate during the forecast period.
The biomarker discovery segment generated the highest market share in 2017 and is expected to maintain its dominance during the forecast period.
North America dominated the global metabolomics market in 2017.
China would register the highest CAGR in the Asia-Pacific region.
North America held the major market share in 2017, owing to a surge in R&D investments and the availability of advanced healthcare facilities. In addition, a rise in usage of experimental medicines and the increase in the adoption of metabolomics for precision medicine fuel the growth. However, Asia-pacific would grow at the highest CAGR during the forecast period owing to the increase in the adoption of metabolomics in medical research and an increase in government initiatives for finding cost-effective treatments for chronic diseases.

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Key market players

The key players analyzed in the report include Agilent Technologies, Inc., Danaher Corporation, Biocrates Life Sciences AG, Bruker Corporation, Leco Corporation, Metabolon, Inc., Human Metabolome Technologies, Inc., Bio-Rad Laboratories, Inc., Shimadzu Corporation, Waters Corporation, and Thermo Fisher Scientific Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

Personalized medicine to encounter the highest growth during the forecast period

By application, the personalized medicine segment is expected to exhibit the highest growth rate during the forecast period, a CAGR of 17.3%, due to its advantage over other segments in directly targeting the cause of any disease. However, the biomarker discovery segment is projected to generate almost half of the total revenue by 2023, driven by incessant research on finding biomarkers for cancer.

Asia-Pacific to grow at the fastest rate through 2023

Surge in cancer awareness, rise in medical tourism, and a large number of patient population that's estimated to increase are key factors that are projected to render Asia-Pacific the fastest growing region through 2023. However, Europe would continue to occupy the largest market share, owing to well-developed healthcare infrastructure and higher demand for metabolomics based diagnostics.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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