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 estimated to reach $6,663 Million by 2030, growing at a CAGR of 12.2% from 2021 to 2030.
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Metabolomics includes the application of a variety of analytical methods such as spectroscopy, chromatography, and multivariate analysis for identification of quantification of various metabolites. The analytical methods facilitate classification of a multitude of known and unknown metabolites in the reaction. The comprehensive nature of metabolites can be applied in many fields and assist in the development of new treatment and diagnostics in human diseases.
- 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.
Key Findings of the Study
- By product, the metabolomics bioinformatics tool and services segment was the highest contributor to the metabolomics market in 2020.
- On the basis of application, the biomarker discovery segment dominated the market in 2020, personalized medicine is expected to continue this trend during the forecast period.
- Depending on indication, cancer segment led the market in 2020; neurological disorder market is anticipated to grow at the highest CAGR during the forecast period.
- Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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Key market players
The key players analyzed in the report include Agilent Technologies, Inc., Danaher Corporation, Biocrates Life Sciences AG, Bruker Corporation, Leco Corporation, Metabolon, Inc., Human Metabolome Technologies, Inc., Bio-Rad Laboratories, Inc., Shimadzu Corporation, Waters Corporation, and Thermo Fisher Scientific Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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