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Metabolomics Market Analysis of The Current and Emerging Trends, Covid-19 Impact Analysis With top key players like: Kore Technologies, Ltd., Dani Instruments S.P.A., Perkinelmer, Inc., and Evans Analytical Group LLC.

10-29-2020 05:38 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Metabolomics Market

Metabolomics Market

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.

Metabolomics is an innovative approach to the treatment and diagnosis of chronic diseases. Increased adoption of metabolomics in drug development and personalized healthcare is expected to fuel the market growth during the forecast period.

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The growth of the global metabolomics market is driven by rise in prevalence of chronic diseases worldwide, an upsurge in R&D investment for the development of metabolomics, and an increase in demand for personalized medicine. However, the lack of skilled professionals in the field along with the astronomical price of metabolomic instruments hampers market growth. Nonetheless, the immense potential of metabolomics in disease diagnostics and its growing prospect in human nutrition would create lucrative opportunities for emerging market players in the near future.

The report provides an extensive analysis of the global metabolomics market based on product & service, application, indication, and geography. Based on product & service, the report segments the market into metabolomics instruments and metabolomics bioinformatics tools & services. The application segment is further classified into biomarker discovery, toxicology testing, drug discovery, functional genomics, nutrigenomics, personalized medicine, and others. Based on indication, the report bifurcates the market into cancer, neurological disorders, cardiovascular disorders, inborn errors of metabolism, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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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.
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.

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.

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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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 domain.

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