Biomarker Development and Growing Demand for Personalized Medicine Will Drive the Growth - Metabolomics Market worth $4.1 billion
The major factors driving the growth is growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, growing demand for personalized medicine and increasing use of metabolomics in toxicology testing are driving the growth of the global metabolomics industry.
How the Market Growth Will Impact In-terms of Revenue?
[279 Pages Report] The Global Metabolomics Market size is projected to reach USD 4.1 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 13.4% during the forecast period.
Cancer accounted for the largest share in the metabolomics technology market in 2019
Based on indication, Segmented into into cancer, cardiovascular disorders, neurological disorders, metabolic disorders, inborn errors of metabolism, and other indications. The cancer segment is expected to account for the largest market share in 2020, with the highest growth rate as well. This can primarily be attributed to the growing use of metabolomics in cancer research and increasing number of cancer patients.
Opportunity: Biomarker Development;
The Metabolomics is used to identify new biomarkers through bioinformatics tools, which indicate the changes in the physiological state of a cell or tissue. Biomarkers are important for developing in-vitro diagnostic tools, environmental toxicology screening methods, and drug discovery and development techniques. The omics revolution of the last decade has increased the application of metabolomics in biomedical research. As a result of these technological developments, new biomarkers are being regularly discovered. These biomarkers are required in medical sciences to better define and diagnose diseases, predict adverse drug events, and identify patient groups who would benefit from specific treatments. Moreover, in the near future, identifying biomarkers related to safety, sensitivity, and resistance to commercially available drugs will present significant growth opportunities for the metabolomics Technology Market.
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Recent Developments in Metabolomics Market:
- In 2020, Danaher Corporation acquired GE Healthcare’s Life Sciences business.
- In 2020, Agilent and Thermo Fisher extended their agreement to enhance the compatibility of Thermo Fisher’s analytical systems with Agilent’s OpenLAb Chromatography Data System
- In 2020, Waters Corporation announced the establishment of Immerse Cambridge, a research laboratory in the heart of Cambridge’s Kendall Square. Immerse Cambridge will serve as a strategic, collaborative space in the community, where Waters can partner with academia and research to accelerate the next generation of scientific advancements.
- In 2020, Hitachi acquired the remaining shares of Hitachi High-Technologies billion and made it its subsidiary. This subsidiary will be responsible for the manufacturing of measuring and analytical equipment, along with the development of chipmaking equipment and industrial materials and systems.
Geographical Growth Scenario of Metabolomics Technology Market:
The Metabolomics market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. North America, which includes the US and Canada, accounted for the largest share of the metabolomics. The large share of the North America region can be attributed to the presence of major players operating in the metabolomics technology market in the US, growing biomedical research in the US, and rising preclinical activities by CROs and pharmaceutical companies in the region.
Key companies and strategies adopted-
The major players in the Metabolomics Market are Waters Corporation (US), Agilent Technologies (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), Danaher Corporation (US), Bruker Corporation (US), PerkinElmer (US), Merck KGaA (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Human Metabolome Technologies, Inc. (Japan), LECO Corporation (US), Metabolon, Inc. (US), Bio-Rad Laboratories (US), Scion Instruments (US), DANI Instruments S.p.A. (Italy), GL Sciences (Japan), SRI Instruments (US), Kore Technology Ltd. (UK), and JASCO, Inc. (US)
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- Markets and Markets Research Pvt. Ltd.
- Prasad Shelke
- Website: Metabolomics Market