Metabolomics Services Market 2022 Global Opportunities and forecast to 2030
Metabolomics
Services Market size was valued USD 2.02 Billion in 2021 and is expected to
reach USD 6.36 billion by 2030 at 11.92% CAGR during the forecast period
2022-2030.
Metaboliomics can be described as the study and analysis of biochemical
processes involving intermediates and by-products of metabolic activities. Such
products are known as metabolomes, which constitute the cluster of all
metabolites involved in various reactions in the organism, including signaling
molecules, secondary metabolites, metabolic intermediates, and hormones.
Market Dynamics
Metabolite analysis is widely used for early diagnosis of various diseases
such as cancer, neurological disorders, heart disease, and others. Among the
various clinical conditions, cancer is the largest contributor to the demand
for metabolomics services market. It is primarily attributed to the global rise
in cancer incidence and increasing oncological research activities. According
to the World Health Organization (WHO), cancer was the second leading cause of
deaths worldwide and responsible for 8.8 million deaths in 2015. According to
the National Cancer Institute, an estimated 1,735,350 new cases of cancer have
been diagnosed in the US in 2018. The global metabolomics services
market is driven by a rise in the use of metabolomics in precision
medicine and the advent of diagnostic testing for the diagnosis of chronic diseases.
Moreover, technological developments in analytical techniques and an increase
in R&D expenditure are expected to fuel market growth.
Major Key
Players:
The Key
Metabolomics Services Market Players are Waters (US), Agilent
Technologies, Inc. (US), Bruker (US), TMIC (Canada), Thermo Fisher Scientific
(US), Biocrates Life Sciences AG (Austria), Creative Proteomics (US), Metabolon,
INC (US), Human Metabolome Technologies America Inc (Japan), and Shimadzu
Corporation (Japan). Innovation, product growth, and acquisition & mergers
were some of the main strategies pursued by players operating on the global
metabolomics services market.
Segment Analysis
The global demand for metabolomics services is segmented into products
and services, and applications.
The demand for baby products and services has been segmented into chromatography,
metabolic bioinformatics
services and mass spectrometry.
Based on the application, the global market for metabolomics services
has been segmented into the biomedical and pharmaceutical, agriculture, and
food industries.
Regional Analysis
The global metabolomics services market, based on region, is divided
into the Americas, Europe, the Asia Pacific, and the Middle East & Africa.
The Americas are expected to have the largest share of the global market
in services to metabolomics. Americas development can be related due to the
increasing prevalence of cancer and cardiovascular diseases. It is projected
that 1,762,450 new cancer cases will be diagnosed in the US in 2019, according
to the American Cancer Society, Inc. Due to estimates from the National
Institutes of Health for 2018, the number of cancer cases and the number of
patients will both rise to 23.6 million by 2030.
Europe is expected to have the second-largest market share in the
forecast period. The European market for metabolic services is further divided
into Western Europe and Eastern Europe. Western Europe is further divided into
Germany, the United Kingdom, Italy, Spain, France, and the rest of Western Europe.
The factors responsible for the growth of the market in this area are the
presence of a large number of medical device companies, increased spending on
health care, and innovation in medical devices to improve quality of life.
The Asia Pacific is expected to be the fastest-growing market due to the
evolving healthcare infrastructure, increasing numbers of R&D organizations
and rising disposable revenue. In addition, the growth of research and
development centers and the entry of top companies in developed countries are
boosting market growth in this region.
Due to factors such as low per capita income, the Middle East &
Africa are projected to show the least growth on the global metabolomics
services sector, and lack of sufficient funding for healthcare infrastructure
accounted for a comparatively smaller market share in 2018.
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