According to a new market report published by Transparency Market Research “Metabolomics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2024”, the metabolomics market is anticipated to expand at a CAGR of 17.1% from 2016 to 2024 to reach USD 2,494.8 million by 2024.
Metabolomics is the extensive study of small molecules, generally known as metabolites, within cells, biofluids, tissues or organisms. Together, these small molecules and their interactions in a biological system are known as the metabolome. Metabolomics involves the study of substrates and products of metabolism, which are affected by genetic and environmental factors. With the increasing applications of metabolomics in life sciences, the demand is increasing gradually. Metabolomics is gaining more importance in genomic studies so as to control functions of unknown genes as the changes in small molecule concentrations are closely associated with the detected phenotype.
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The factors such as increasing demand for personalized medicines, particularly across Europe and North America, growing research funding and government initiatives, increasing necessity for toxicology technologies and improved research and development activities across biotechnology and pharmaceutical sectors are expected to propel the metabolomics market. Major restraints for the market includes reluctance of the adoption of advanced technology and data processing and analysis by the traditional professionals and dearth of skilled labor. Regardless of the restraints, the market is observing steady growth with rising opportunity offered by untapped markets and biomarker discovery services. Technological improvements and combination of various academic research institutes with the major players in the market are also expected to drive this market.
In a time of exceptional scientific advances and technological developments, personalized health care provides information to detect the onset of disease at in early stage, prevents the progression of disease, and, simultaneously, increases the effectiveness of the health care system by refining quality, availability, and affordability. The great opportunity for personalized medicine is its possibility to introduce novel scientific, business, and medical models. There is a high prevalence of chronic degenerative diseases such as cardiovascular diseases, neurodegenerative disorders, cancer etc. in developed countries. Factors such as unhealthy dietary habits, sedentary lifestyles, and habits such as smoking and alcohol consumption are additionally contributing to the increase in obesity, diabetes, heart disease, stroke and other medical disorders especially in developing countries. With the growing unmet medical needs, the importance of personalized medicine is rising across the globe. With the increase in the demand for personalized medicines, the demand for metabolomics is expected to increase across the globe. Moreover, increasing government funding for research in metabolomics is another factor contributing to the growth of the metabolomics market.
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Metabolomics is gaining importance as a tool in the life sciences since it is a relatively fast and precise technique that can be applied with either a particular focus or in an overall manner to gain new knowledge about biological systems. The global metabolomics market is segmented into three segments as technique, applications, and geography. The market by technique is further divided as separation techniques and detection techniques. Separation techniques includes study of gas chromatography, capillary electrophoresis, high performance liquid chromatography (HPLC) and ultra-performance liquid chromatography (UPLC). The HPLC accounted for the highest share of metabolomics market by technique. Detection technique includes nuclear magnetic resonance spectroscopy (NMR), mass spectrometry (MS) and others. The market by application includes drug assessment, biomarker discovery, nutrigenomics, clinical toxicology and others. The market by geography is divided into five regions as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America region covers market for U.S. and Canada. Europe covers market for Germany, France and Rest of Europe. China, Japan and Rest of Asia Pacific markets are estimated under Asia Pacific region. Latin America includes Brazil and Rest of Latin America. Whereas, Middle East and Africa covers South Africa and Rest of Middle East and Africa.
Major players in this market are Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc.(U.S.), Biocrates Life Sciences AG (Austria), Shimadzu Corporation (Japan), Waters Corporation (U.S.), Human Metabolome Technologies, Inc.(Japan), LECO Corporation (U.S.), Metabolon, Inc. (U.S.), Bio-Rad Laboratories, Inc.(U.S.), and Bruker Corporation (U.S.)
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