Metabolomics Market is forecast to grow by USD 6.66 Bn during 2023-2030 | CAGR 12.2%

According to a new Allied Market Research Reports study, the global metabolomics market was estimated at $2.03 billion in 2020 and is expected to hit $6.66 billion by 2030, registering a CAGR of 12.2% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Growing demand for personalized medicine is driving the growth of the metabolomics market. Metabolomics is used to identify biomarkers that can help in the development of personalized treatment plans for patients.

The pharmaceutical and biotechnology industry is a major end-user of metabolomics. Metabolomics is used in drug discovery and development, which is a major driver of the market.

The Asia-Pacific region is expected to witness the highest growth in the metabolomics market. This is due to the increasing investments in research and development activities, growing healthcare infrastructure, and rising government initiatives to promote precision medicine.

The increasing adoption of metabolomics in clinical diagnostics and research is also driving the growth of the market. Metabolomics is used to identify biomarkers that can be used for disease diagnosis and monitoring.

The lack of skilled professionals and high costs associated with metabolomics are some of the factors that may hinder the growth of the market.

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Market Drivers:

Growing demand for personalized medicine: Metabolomics is increasingly being used to identify biomarkers that can help in the development of personalized treatment plans for patients. As the demand for personalized medicine grows, the demand for metabolomics is expected to increase as well.

Increasing use of metabolomics in drug discovery and development: Metabolomics is being used in drug discovery and development to identify new drug targets and assess the safety and efficacy of drugs. As the pharmaceutical and biotechnology industry continues to grow, the use of metabolomics is expected to increase as well.

Rising government funding for research: Many governments around the world are increasing their funding for research in the life sciences, including metabolomics. This is expected to drive the growth of the market as more research is conducted and new applications are discovered.

Technological advancements in metabolomics: The development of new technologies, such as high-resolution mass spectrometry and nuclear magnetic resonance spectroscopy, has greatly improved the accuracy and sensitivity of metabolomics. This is expected to drive the growth of the market as more researchers adopt these new technologies.

Increasing use of metabolomics in clinical diagnostics: Metabolomics is being used to identify biomarkers for disease diagnosis and monitoring. As the demand for early disease detection and personalized medicine grows, the use of metabolomics in clinical diagnostics is expected to increase as well.

Market Segmentation:

Product type: The metabolomics market can be segmented into instruments, software, and services. Instruments include mass spectrometers, chromatography instruments, and others. Software includes data analysis software, and services include sample preparation, metabolite identification, and other services.

Application: The metabolomics market can be segmented into drug discovery, clinical diagnostics, toxicology testing, and others.

End-users: The metabolomics market can be segmented based on the end-users, such as pharmaceutical and biotechnology companies, academic research institutes, hospitals and clinics, and others.

Region: The metabolomics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Technology: The metabolomics market can also be segmented based on the technology, such as mass spectrometry, nuclear magnetic resonance spectroscopy, chromatography, and others.

Workflow: The metabolomics market can be segmented into untargeted and targeted metabolomics workflows.

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Regional Growth Dynamics:

North America contributed to the major market share in terms of revenue 2020, holding more than two-fifths of the global metabolomics market, owing to surge in research activities which involve the use of metabolomics. Asia-Pacific, on the other hand, is projected to cite the fastest CAGR of 13.9% from 2021 to 2030. This is due to rise in awareness related to use of metabolomics.

Competitive Landscape:

• Agilent Technologies, Inc.
• Bruker Corporation
• Danaher Corporation
• Metabolon, Inc.
• Human Metabolome Technologies, Inc.
• Thermo Fisher Scientific, Inc.
• Waters Corporation
• Shimadzu Corporation
• LECO Corporation
• Bio-Rad Laboratories, Inc.

Recent developments:

• In February 2021, Thermo Fisher Scientific launched the Thermo Scientific Orbitrap Exploris 240 mass spectrometer, which is designed for metabolomics and other small molecule applications.
• In November 2021, Agilent Technologies announced the acquisition of BioTek Instruments, a manufacturer of microplate instrumentation and software for life science research.
• In September 2022, Bruker Corporation announced the launch of the MetaboScape 2.0 software, which provides advanced tools for metabolomics data analysis.
• In August 2020, LECO Corporation announced the launch of the Pegasus BT 4D, a high-performance time-of-flight mass spectrometer for metabolomics and other applications.

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