Global Metabolomics Industry is expected to reach a market size of ~US$ 5 billion by 2028: Ken Research
What Is the Size of Global Metabolomics Industry?
Global Metabolomics market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 5 Bn by 2028. The Metabolomics Market is largely driven by rising focus on innovative approaches with significant potential due to the rise in life-threatening diseases like cancer neurological conditions, and coronary heart disease.
Another factor promoting metabolomics market expansion is the combination of metabolomics and machine learning (ML). Nuclear Magnetic Resonance (NMR) and Multiple sclerosis (MS) data can be accurately interpreted with the use of machine learning (ML), which also automates employment, and complex.
A variety of heterogeneous data is generated by metabolomics techniques, and interpreting such data can be difficult and complex. Any analytical method cannot be used to analyze the data due to the chemical diversity of small molecule metabolites. The prosperity of the market as a whole is being impeded by all of such factors. The metabolomics market has a potential impact from COVID-19. As a result of the utilization of metabolomics in research to understand COVID-19 diseases.
Global Metabolomics Market By Product & Services
The Global Metabolomics market is segmented by Product & services type into Metabolomics Instrument and Metabolomics bioinformatics tools & services. The Metabolomics Instrument by Product and Services dominated the market in 2022, due to the extensive utilization of market products in research activities around the world in the disciplines of medicine, nutraceuticals, and metabolomics.
The growth is attributed to the rapid acceptance of metabolomics and smooth technological operations, which leads to increased workflow efficiency, precision, dependability, and data processing.
During the forecast period, factors such as the technical improvements in analytical instruments in terms of miniaturization, automation, and computerization, and the improvement of healthcare infrastructure in developing countries for effective illness detection and treatment are anticipated to drive the growth of the segment.
Global Metabolomics Market By Indication
The Global Metabolomics market is segmented by Indication into Cancer, Cardiovascular Disorders, Neurological Disorders, Inborn Errors of Metabolism, Metabolic Disorders and Others. The Cancer segment accounted for the highest market share in 2022, owing to the rise in cancer incidence around the globe and the expansion of oncological research projects.
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According to World Health Organization (WHO), in February 2022 stated that Cancer is the leading cause of death throughout the world, accounting for nearly 10 million deaths in 2020, or nearly one in each six. According to the American Cancer Society, in 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States.
Global Metabolomics Market By Application
The Global Metabolomics market is segmented by Application into Biomarker Discovery, Toxicology, Nutrigenomics, Personalized Medicine, Drug Discovery, Functional Genomics and Other. Biomarker Discovery accounted for the highest market share in 2022 owing to the worldwide increase in the prevalence of chronic diseases such as Cancer, Chronic Obstructive Pulmonary Disease (COPD), and Arthritis.
The market’s bigger contribution to the discovery of new biomarkers is also driven by extensive oncological research with a preference for the study of such markers and their application in the treatment of cancer. Metabolic biomarkers are rapidly being utilized to assess patients’ pathophysiological health conditions. Metabolomics has evolved in recent years into a crucial tool for identifying biomarkers as a result of major technological advancements.
Market Taxonomy
By Product and Services
- Metabolomics Instrument
- Metabolomics bioinformatics tools and services
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By Indication
- Cancer
- Cardiovascular Disorders
- Neurological Disorders
- Inborn Errors of Metabolism
- Metabolic Disorders
- Others
By Application
- Biomarker Discovery
- Toxicology
- Nutrigenomics
- Personalized Medicine
- Drug Discovery
- Functional Genomics
- Other
By Geography
- North America (USA, Canada, and Mexico)
- Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East, and Africa)
Key Players
- Agilent Technologies, Inc.
- Shimadzu Corporation
- Waters Corporation
- Bruker
- Human Metabolome Technologies Inc
- Thermo Fisher Scientific
- LECO Corporation
- Metabolon INC
- PerkinElmer Inc.
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