[286 Pages Report] The Global Metabolomics Market is expected to reach $ 2.38 billion, at a CAGR of 14.6% during the forecast period.
Metabolomics plays a vital role in the fields of toxicity testing, biomarker development, drug discovery, and clinical diagnostics. Factors such as the growing demand for personalized medicine, increasing pharmaceutical and biotech R&D expenditure, and rising necessity for toxicology testing are driving the growth of the market. Additionally, the potential for metabolomics to move beyond basic research and into the field of diagnostics, by integrating with other omics technologies such as proteomics and transcriptomics, is also supporting the growth of the market during the forecast period.
This research report segments this Metabolomics Technology Market based on product & Services, application, indication, and region.
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Metabolomics Market Segmentation: –
Based on products & services, the market is segmented into metabolomics instruments and bioinformatics tools and services. The metabolomics instruments segment commanded the largest share of the global market. This is mainly due to the ability of these instruments to separate and detect the complex structure of metabolites on a large scale, providing quality results.
Based on applications, the biomarker discovery segment accounted for the largest share of the global market. The rising prevalence and incidence of chronic diseases such as cardiac diseases, cancer, and diabetes; growing acceptance of cancer diagnostic tests; and scientific progression in discovery technologies are major factors driving market growth in this segment.
Based on indication, the cancer segment accounted for the largest share of the global market. The large share of this segment can be attributed to the increasing utility of biomarkers in patient stratification and the drug development process and increasing scientific progression in discovery technologies.
Major Market Drivers in Metabolomics Market:
· Availability of government and private funding
· Increasing pharmaceutical and biotech R&D expenditure
· Technological advancements
· Growing demand for personalized medicine
· Increasing use of metabolomics in toxicology testing
Growing demand for personalized medicine;
Personalized medicine is a technology-based and patient-centered customization of diagnosis and treatment evaluation. Recent developments in analytical technologies, such as the emergence of high-resolution mass spectrometry, have provided revolutionary analytical capabilities in metabolomics, offering the detection of more than 10,000 metabolites at a given point of time.
Such developments are opening new opportunities for the utilization of metabolomics in the development of personalized and precision medicine. As metabolomics precisely differentiates between two or more disease phenotypes, it can be applied to identify metabolites and biomarkers related to the perturbation being investigated by providing detailed cellular information. These metabolites can be used to develop personalized prognostic, diagnostic, and treatment approaches for monitoring of disease progression, treatment efficacy, predisposition to drug-related side effects, and potential relapse.
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Geographical Analysis in Detailed:
North America is expected to hold the largest market size in the metabolomics market during the forecast period, followed by the European region. On the other hand, the Asia Pacific market is expected to witness the highest growth during the forecast period. Growth in this region can be attributed to the huge demand for metabolomics in drug discovery and biomarker development experiments.
Major Key Players in Metabolomics Market: –
Prominent players in the global market are Thermo Fisher Scientific (U.S.), Agilent Technologies (U.S.), Danaher Corporation (U.S.), Waters Corporation (U.S.), and Shimadzu Corporation (Japan). Other leading players in this market include Bio-Rad Laboratories (U.S.), Bruker Corporation (U.S.),