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.
According to the report published by Allied Market Research, 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. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Growth in R&D expenditure in the pharmaceutical & biopharmaceutical industry, availability of government & private funding for metabolomics research, and ongoing innovations in metabolomics instruments drive the growth of the global metabolomics industry.
The COVID-19 was declared as a pandemic in the start of the year 2020. This was followed with strict lockdowns and containment restriction in more than 200 countries across the globe. Hence, this led to serious disruptions in every business across each industry globally. For instance, the lockdowns restrictions lead to closure of non-essential business worldwide. Only, the essential businesses such as healthcare facilities with COVD-19 focus operated during the pandemic.
By product segment, the largest market for metabolomics is metabolomics bioinformatics due to a huge number of utilization in metabolomics analysis tool and services. Owing to increased demand for data management, it is anticipated to grow at the highest CAGR during the forecast period.
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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 2030. However, Europe would continue to occupy the largest market share, owing to well-developed healthcare infrastructure and higher demand for metabolomics based diagnostics.
The key players operating in the global Metabolomics market include Agilent Technologies INC., BiocratesLife Science AG, Bio-Rad Laboratories INC., Bruker corporation, Danaher Corporation, Human Metabolome Technologies INC., LECO Corporation, Metabolon INC., Shimadzu Corporation, Water Corporation.
About Allied Market Research:
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.