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Metabolomics Market will expand at a healthy CAGR of 17.10% by 2024
According to TMR’s estimations, the global market metabolomics will expand at a healthy CAGR of 17.10% during the period from 2016 to 2024 and reach a value of US$2.49 bn by the end of the forecast period. Drug assessment, nutrigenomics, biomarker discovery, and clinical toxicology have emerged as the key application areas for metabolomics across the world, states the report.
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The global metabolomics market is divided into several segments based on application, technique, and geography. According to our experts, the market can be split into separation and detection techniques which can be further divided into several other sub-segments. Good precision and generating good data output has made the high performance liquid chromatography (HPLC) the leading segment in the market under the separation techniques criteria. Other sub-segments under the by separations techniques criteria are: gas chromatography (GC), capillary electrophoresis (CE), High Performance Liquid Chromatography (HPLC), Ultra Performance Liquid Chromatography (UPLC). The detection techniques category is further divided into a couple of sub-segments: nuclear magnetic resonance spectroscopy (NMR) and mass spectrometry. By application the global metalobomic market comprise the following segments: Introduction, drug assessment, biomarker discovery, nutrigenomics, clinical toxicology, and others.
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The global metabolmics market is divided into five prominent regional segments, based on a geography:North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. Due to a strong presence top competitors in North America and Europe, these regions dominate the market and also contribute significantly to its growth
There has been a significant rise in the demand for personalized medicines, mainly in Europe and North America in the recent past. Higher utilization of these medicines is one of the most prominent factors that has contributed towards the growth of the global metabolomics market. Several governments from different countries have undertaken numerous research initiatives along with encouraging funding for companies in this market. Such helpful actions have also positively contributed towards better market sales. There has been a rising need for toxicology labs, equipment, associated technologies for conducting quality research and develop metabolomics-based activities, in both pharmaceutical and biotechnology sectors. This need has proven to be a significant propellant for the global metabolomics market.
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Countering the growth in the global market for metabolomics, are a few minor hiccups. For example, a reduced uptake of advanced technologies has been noticed along with less data analysis and data processing, in few regions. This is mainly due to the workers handing the job in a conventional manner, coupled with lack of skilled professionals. However, with biomarker discovery set to revolutionize the market, more growth avenues will open up for the market.
Businesses operating in the market are resorting to product innovation and strategic alliances to progress. New regulations are being openheartedly accepted by the market players, thus making them develop their products according to the industrial standards. Some of the main companies present in this market are Biocrates Life Sciences, Bruker, Bio-Rad Laboratories, Agilent Technologies, Thermo Fisher, Human Metabolome Technologies, LECO, and Metabolon.
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