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 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.
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.
The metabolomics bioinformatics tools and services segment to maintain the lion’s share-
On the basis of product & services, the metabolomics bioinformatics tools and services segment accounted for the highest market share in 2020, generating nearly three-fourths of the global metabolomics market. The same segment is also anticipated to cite the fastest CAGR of 12.7% from 2021 to 2030. This is owing to surge in amount of data generated in metabolomics processes which needs proper management through the use of bioinformatics tools.
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North America held the major market share in 2020, 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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