The global metabolomics market features a consolidated vendor landscape, a new report by Transparency Market Research says. In 2015, top five companies namely, Agilent Technologies, Thermo Fisher Scientific, Waters Corporation, Bruker Corporation, and Shimadzu Corporation held more than 70% of the global market for metabolomics.
“Mergers and acquisitions and introduction of newer products remains the key growth strategy of top players in this market,” says TMR analyst. A case in point is Thermo Fisher Scientific. In 2015, Thermo Fisher Scientific acquired Alfa Aesar – a leading manufacturer of laboratory chemicals. This acquisition enhanced the laboratory chemical manufacturing capability of Thermo Fisher Scientific.
This 75 page report gives readers a comprehensive overview of the Metabolomics Market.Browse through 11 data tables and 23 figures to unlock the hidden opportunities in this market.
Key players in the market are engaged in the introduction of newer products for metabolomics. In Januray 2015, Shimadzu Corporation introduced Nexera UC automated supercritical fluidic chromatography. The system is designed for a host of applications, which includes monitoring pesticides in food products, and drug discovery research in pharmaceuticals among others.
The global metabolomics market is expected to rise at a CAGR of 17.1% between 2016 and 2024 for the market to reach a valuation of US$2,494.8 mn by 2024.
Government-backed Initiatives for Biotechnology Research Benefits Growth of North America and Europe Markets
In terms of technique, high performance liquid chromatography accounts for the leading share of the market. The segment is expected to register a CAGR of 17.8% between 2016 and 2024.
Biomarker discovery stood as the leading application segment in the metabolomics market in 2015. This is because metabolomics suffice the important clinical need by providing biomarkers that are useful for early identification of diseases. However, metabolomics is gaining prominence in drug assessment as well as clinical toxicology.
The metabolomics market is studied with respect to the regional segments of North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Among these, North America and Europe are leading markets for metabolomics due to increasing research and development initiatives in pharmaceutical and biotechnology, rising necessity for toxicology technologies, and government funding for high quality research.
Increasing Scope of Personalized Medicine Propels Market
In current times, exceptional scientific advances and technological developments have led to the scope of personalized medicine. This helps to detect disease at an early stage, prevents disease progression, and at the same time increases the effectiveness of healthcare system.
The great opportunity for personalized medicine lies in introducing novel scientific, business, and medical models. The increasing prevalence of chronic degenerative diseases such as cancer, neurodegenerative disorders, and cardiovascular diseases in both developed and developing countries due to several factors opens scope for personalized medicine. This, along with the rising unmet medical needs indirectly drives the metabolomics market.
In addition, increasing government funding for research in metabolomics is contributing to the growth of the metabolomics market. The National Institute of Health (NIH) is the leading agency for funding of medical research that sponsors thousands of scientists associated with research institutions and universities across America and worldwide. Between 2008 and 2011, NIH funded US$25,656,838 for metabolomics research.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving Metabolomics Market during 2016-2024. http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=903
An increasing number of innovative product launches by players in this market is also driving the metabolomics market. For example, Agilent Technologies and CambTEK entered into an agreement for developing automated sample preparation technology for liquid chromatography system.
On the flip side, dearth of skilled personnel in biotechnology industry is adversely impacting the growth of this industry as well as domains such as metabolomics industry.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Transparency Market Research
90 State Street,
NY – 12207
USA – Canada Toll Free 866-552-3453