Market Overview:
Metabolomics, defined as the complete analysis of metabolites in a medical sample, is a fast-emerging scientific discipline that holds immense potential to revolutionize the practice of precision medical diagnosis. Historically, very few numbers of metabolites have ever been employed to diagnose various complex metabolic illnesses and even monogenic diseases like diabetes. Many of the advanced methods used today in the process of metabolomics are derived from studies carried out several years ago by teams of biochemists. These studies provided doctors with a better understanding of the role of metabolites in human health. With these studies came the realization that some diseases were likely to be metabolic.
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Competitive Landscape:
Major players operating in the global metabolomics market include JASCO, Inc., Kore Technology Ltd., SRI Instruments, GL Sciences, DANI Instruments S.p.A., Scion Instruments, Bio-Rad Laboratories, Metabolon, Inc., LECO Corporation, Human Metabolome Technologies, Inc., Hitachi High-Technologies Corporation, GE Healthcare, Merck KGaA, PerkinElmer, Bruker Corporation, Danaher Corporation, Thermo Fisher Scientific, Shimadzu Corporation, Agilent Technologies, and Waters Corporation.
Key Market Drivers:
The increasing prevalence of chronic diseases, such as cancer in the world is the main factor that is expected to drive the growth of the global metabolomics market. For instance, according to International Agency for Research on Cancer, the global burden of cancer in 2020 was around 19.3 million cases. Modern metabolomics uses a wealth of advanced analytical methods and technologies to examine the metabolic pathways involved in various metabolic diseases. The main goals of metabolomics are to map the individual makeup of small molecules and to study their interactions in diverse organisms. By studying metabolites, researchers gain a greater understanding of the genetic architecture of an organism and of the molecular pathways that control its complex functions. This has led to the identification of novel small molecule targets for therapeutic interventions and the development of novel pharmacotherapies. For instance, one of the most promising approaches involves targeted immunosuppression of target genes in a genetically obese mouse to suppress appetite and energy hyperactivity. Increasing funding for research institutes and universities is estimated to augment the growth of the global metabolomics market.
Covid-19 Impact Analysis:
The COVID-19 pandemic had a significant effect on the global metabolomics market, owing to increasing COVID positive cases in the world. For instance, according to Our World in Data, in December 2020, the 7-day average of COVID cases in the world was around US$ 665,855.
Key Takeaways:
- The size of the global metabolomics market was evaluated at around US$ 1.9 billion in 2020 and a CAGR of 13.4% is estimated to reach around US$ 4.1 billion by the year 2025, owing to increasing investment in the global healthcare sector. For instance, according to Policy Advice, global healthcare spending is expected to reach more than US$ 10 trillion by the year 2022.
- North America is expected to hold a major part of the global metabolomics market, owing to the increasing prevalence of healthcare centers in the region. For instance, according to American Hospital Association, currently, there are around 6090 hospitals in the United States.
- The Asia Pacific is estimated to witness high growth in the global metabolomics market, owing to the increasing prevalence of healthcare centers in the region, especially in developing nations. For instance, according to the Association of Healthcare Providers, in 2019 there were more than 69 thousand private and public hospitals in India.
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