Metabolomics Services Market
Metabolomics Services Market Share was valued USD 2.02 Billion in 2021 and is expected to reach USD 6.36 billion by 2030 at 11.92% CAGR during the forecast period 2022-2030.
Metaboliomics can be described as the study and analysis of biochemical processes involving intermediates and by-products of metabolic activities. Such products are known as metabolomes, which constitute the cluster of all metabolites involved in various reactions in the organism, including signaling molecules, secondary metabolites, metabolic intermediates, and hormones.
Market Dynamics
Metabolite analysis is widely used for early diagnosis of various diseases such as cancer, neurological disorders, heart disease, and others. Among the various clinical conditions, cancer is the largest contributor to the demand for metabolomics services market. It is primarily attributed to the global rise in cancer incidence and increasing oncological research activities. According to the World Health Organization (WHO), cancer was the second leading cause of deaths worldwide and responsible for 8.8 million deaths in 2015. According to the National Cancer Institute, an estimated 1,735,350 new cases of cancer have been diagnosed in the US in 2018. The global metabolomics services market is driven by a rise in the use of metabolomics in precision medicine and the advent of diagnostic testing for the diagnosis of chronic diseases. Moreover, technological developments in analytical techniques and an increase in RD expenditure are expected to fuel market growth.
Metabolomics Services Market Outlook and Analysis By Product and Service (Chromatography, Metabolomics Bioinformatics Services and Mass Spectrometry), By Application (Biomedical and Pharmaceutical, Agriculture and Food) - Global Forecast till 2030.
Major Key Players:
The Metabolomics Services Market Players are Waters (US), Agilent Technologies, Inc. (US), Bruker (US), TMIC (Canada), Thermo Fisher Scientific (US), Biocrates Life Sciences AG (Austria), Creative Proteomics (US), Metabolon, INC (US), Human Metabolome Technologies America Inc (Japan), and Shimadzu Corporation (Japan). Innovation, product growth, and acquisition mergers were some of the main strategies pursued by players operating on the global metabolomics services market.
Segment Analysis
The global demand for metabolomics services is segmented into products and services, and applications.
The demand for baby products and services has been segmented into chromatography, metabolic bioinformatics services and mass spectrometry.
Based on the application, the global market for metabolomics services has been segmented into the biomedical and pharmaceutical, agriculture, and food industries.
Regional Analysis
The global metabolomics services market, based on region, is divided into the Americas, Europe, the Asia Pacific, and the Middle East Africa.
The Americas are expected to have the largest share of the global market in services to metabolomics. Americas development can be related due to the increasing prevalence of cancer and cardiovascular diseases. It is projected that 1,762,450 new cancer cases will be diagnosed in the US in 2019, according to the American Cancer Society, Inc. Due to estimates from the National Institutes of Health for 2018, the number of cancer cases and the number of patients will both rise to 23.6 million by 2030.
Europe is expected to have the second-largest market share in the forecast period. The European market for metabolic services is further divided into Western Europe and Eastern Europe. Western Europe is further divided into Germany, the United Kingdom, Italy, Spain, France, and the rest of Western Europe. The factors responsible for the growth of the market in this area are the presence of a large number of medical device companies, increased spending on health care, and innovation in medical devices to improve quality of life.
The Asia Pacific is expected to be the fastest-growing market due to the evolving healthcare infrastructure, increasing numbers of RD organizations and rising disposable revenue. In addition, the growth of research and development centers and the entry of top companies in developed countries are boosting market growth in this region.
Due to factors such as low per capita income, the Middle East Africa are projected to show the least growth on the global metabolomics services sector, and lack of sufficient funding for healthcare infrastructure accounted for a comparatively smaller market share in 2018.
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