Metabolomics market size was valued at $2,032 Million in 2020, and is projected to reach $6,663 Million by 2030, registering a CAGR of 12.2% from 2021 to 2030.
Growth in R&D expenditure in the pharmaceutical & biopharmaceutical industry, availability of government & private funding for metabolomics research— Onkar Sumant
PORTLAND, OREGON, UNITED STATES, July 26, 2022 /
EINPresswire.com/ -- The fact that metabolomics has the ability to detect a large number of metabolites from fluid or tissue sample in a single step and it can also yield great amounts leads to a steep rise in demand for metabolomics, thereby driving the growth of the market. On the other hand, high cost of metabolomics instruments and scarcity of professionals restrain the growth to some extent. However, technological advancements in analytical techniques and upsurge in R&D expenditure are expected to create an array of opportunities in the industry.
The global
metabolomics market size was valued at $2,032 Million in 2020, and is projected to reach $6,663 Million by 2030, registering a CAGR of 12.2% from 2021 to 2030.
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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 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.
Metabolomics bioinformatics tools and services to hold a dominant position
Based on product & services, metabolomics bioinformatics tools and services segment is expected to be the largest and fastest growing segment through 2030. This is attributed to the tremendous progress demonstrated by bioinformatics, which is poised to grow even further in the near future driven by the use of robust algorithms and parameter estimation techniques in life-science research and analysis.
Covid-19 Scenario-
The outbreak of the pandemic gave way to huge disruptions in the R&D activities, which in turn, impacted the global metabolomics market negatively.
However, the market has almost recovered, in terms of revenue.
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North America held the major market share in 2021, 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.
North America to dominate by 2030-
On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding more than two-fifths of the global metabolomics market, owing to surge in research activities which involve the use of metabolomics. Asia-Pacific, on the other hand, is projected to cite the fastest CAGR of 13.9% from 2021 to 2030. This is due to rise in awareness related to use of metabolomics.
Prominent market players-
Bio-Rad Laboratories INC.
Agilent Technologies INC.
Bruker corporation
Danaher Corporation
Human Metabolome Technologies INC.
LECO Corporation
Metabolon INC.
BiocratesLife Science AG
Water Corporation
Shimadzu Corporation
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