The Global Metabolomics Market is expected to garner $3.30 billion by 2023, growing a CAGR of 13.2% from 2017 to 2023. North America contributed the highest market share in 2017; while, Asia-Pacific is expected to experience the highest growth rate during the forecast period.
The report offers insights on drivers, restraints, and opportunities of the global metabolomics market. Surge in adoption of metabolomics in precision medicine and rise in R&D investments are expected to facilitate the market growth. In addition, technological advancements for auxiliary medical devices utilized for analysis of metabolomics and rise in demand of quality medications supplements the growth of the market. However, expensive medical devices and lack of effective data management for profiling of metabolomics restrain the market growth.
The report provides an extensive analysis of the global metabolomics market based on product & service, application, indication, and geography. Based on product & service, the report segments the market into metabolomics instruments and metabolomics bioinformatics tools & services. The application segment is further classified into biomarker discovery, toxicology testing, drug discovery, functional genomics, nutrigenomics, personalized medicine, and others. Based on indication, the report bifurcates the market into cancer, neurological disorders, cardiovascular disorders, inborn errors of metabolism, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The biomarker discovery segment contributed the highest market share in 2017, and will maintain its dominant share during the forecast period. Advancements in quantification methods & technologies along with rise in concerns regarding prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer would fuel the growth of this segment.
Key Findings of the report:
- The drug discovery segment is anticipated to witness the highest grow rate during the forecast period.
- The biomarker discovery segment generated the highest market share in 2017 and is expected to maintain its dominance in the during the forecast period.
- North America dominated the global metabolomics market in 2017.
- China would register the highest CAGR in the Asia-Pacific region.
North America held the major market share in 2017, owing to surge in R&D investments and availability of advanced healthcare facilities. In addition, rise in usage of experimental medicines and increase in adoption of metabolomics for precision medicine fuel the growth. However, Asia-pacific would grow at the highest CAGR during the forecast period owing to increase in adoption of metabolomics in medical research and increase in government initiatives for finding cost-effective treatments for chronic diseases.
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The key companies analyzed in the report include Agilent Technologies, Inc., Biocrates Life Sciences AG, Danaher Corporation, Leco Corporation, Bruker Corporation, Human Metabolome Technologies, Inc., Metabolon, Inc., Shimadzu Corporation, Bio-Rad Laboratories, Inc., Waters Corporation, and Thermo Fisher Scientific Inc.
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