The report Global Metabolomics Market by product and service (Metabolomics Instruments and Bioinformatics Tools and Services), Application (Biomarker discovery, Toxicology Testing, Personalized Medicine, Metabolomics Drug discovery, Nutrigenomics, Functional Genomics), Indication (Cancer, Neurological Disorders, Cardiovascular Diseases, Inborn Errors of Metabolism, Metabolic Disorders), End-User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Research Institutes )and Regions-Global Forecast to 2030.” The Global Metabolomics Market share was USD 1.9 billion in 2020. It is predicted to reach USD 6.68 billion by 2030, representing a CAGR of 13.4 percent throughout the forecasted period”.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
Some of the most notable factors that are majorly driving the overall growth of the market worldwide are an increase in the government and Private investments in the metabolomics market for the research and development. As to The Metabolomics Innovation Centre (TMIC), metabolomics has experienced tremendous growth in the last decade with high-impact discoveries in several diseases, which have increased investments in metabolomics facilities across the globe and accelerated the appearance of more than 80 university-based metabolomics facilities across North America over the past decade.
By Product and Service, the “metabolomics instruments” segment held the highest share in 2020
Based on Product and Service, the Metabolomics Market is broadly classified into Metabolomics Instruments: Separation Tools, Detection Tools, and Bioinformatics Tools, and Services, which are Bioinformatics Services Bioinformatics Tools, and Databases. The metabolomics instruments segment dominates the overall market with a steady CAGR during the estimated period with the rapid adoption of metabolomics due to smooth technological operations leading to workflow efficiency, precision, reliability, and processing data.
By Application, the “biomarker” segment accounted for the maximum share of the market in 2020
Based on Application, the Metabolomics Market is broadly classified into Biomarker discovery, Toxicology Testing, Personalized Medicine, Metabolomics Drug discovery, Nutrigenomics, and Functional Genomics. The biomarker discovery segment dominated the overall due to increased adoption of metabolic biomarkers and technological advancements.
By Indication, the “Cancer” segment accounted for the maximum share of the market in 2020
Based on Indication, the Metabolomics Market is broadly classified into Cancer, Neurological Disorders, Cardiovascular Diseases, Inborn Errors of Metabolism, and Metabolic Disorders. The cancer segment dominated the overall market share and even had the highest growth in the market, which can be attributed to the increase in the no of cancer cases and the demand for the treatment therapy for cancer.
By End-User, the “academic and research institutes” segment held the maximum share of the market in 2020
Based on End User, the Metabolomics Market is broadly classified into Contract Research Organizations, Academic and Research Institutes, and Pharmaceutical and Biotechnology Companies. The academic and research institutes dominated the overall market share due to increasing research activities in metabolomics and the addition of funds to the academic and research institutes for the study.
Based on Region, North America held the maximum share of the market with a decent CAGR value throughout the stipulated time frame of 2020-2030 due to significant players operating in the metabolomics market, growing research, and rising preclinical activities of pharma companies.
Key Competitive Players
The key players included in the Global Metabolomics Market include Waters Corporation, Merck KGaA, GE Healthcare, Hitachi High-Technologies Corporation, Human Metabolome Technologies, Inc., LECO Corporation (US), Metabolon, Inc., Bio-Rad Laboratories, Agilent Technologies, Shimadzu Corporation, Thermo Fisher Scientific, Danaher Corporation, Bruker Corporation, PerkinElmer, Scion Instruments, DANI Instruments S.p.A., GL Sciences, SRI Instruments, Kore Technology Ltd., JASCO, Inc.
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