Metabolomics Market Worth 2.39 Billion USD by 2021
PUNE, India, March 2, 2017 /PRNewswire/ --
According to a new market research report "Metabolomics Market by Product (GC, HPLC, UPLC, NMR, Mass Spectrometry, Surface based mass analysis, Bioinformatics), Application (Biomarker & Drug Discovery, Nutrigenomics, Toxicology), Indication (Oncology, Cardiology, Inborn Errors) - Forecast to 2021", published by MarketsandMarkets, the global market was valued at USD 1.03 Billion in 2016. This market is expected to grow at a CAGR of 14.6% during the forecast period (2016-2021) to reach USD 2.39 Billion by 2021.
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Browse 188 market data Tables and 42 Figures spread through 286 Pages and in-depth TOC on "Metabolomics Market"
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The metabolomics market has witnessed significant growth primarily due to the increasing need for accurate diagnosis of diseases, rising demand for personalized medicine, and emergence of advanced technologies. However, need for well-qualified researchers, issues related to data examination and processing, and the high cost of tools and instruments are restraining the growth of this market.
In this report, the market is majorly segmented by product and service, application, indication, and region. Based on product and service, the market is segmented into metabolomics instruments and metabolomics bioinformatics tools & services. The metabolomics instruments segment accounted for largest share of global metabolomics market in 2015. The metabolomics bioinformatics tools & services segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the smooth technological workflow in metabolomics and rapid, precise, reliable, and transparent data processing benefits gained from it.
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On the basis of application, the market is segmented into biomarker discovery, drug discovery, nutrigenomics, toxicology testing, personalized medicine, functional genomics, and others. In 2015, the biomarker discovery segment accounted for the largest share of the global metabolomics market. This is mainly attributed to the improvement in both the efficiency and reliability of metabolic profiling of biomarkers and the accurate and clinically useful diagnostic capabilities of metabolic biomarkers for the management of diseases at the metabolic level. However, the personalized medicine segment is expected to register the highest CAGR during the forecast period due to collaborations between pharmaceutical companies and biotechnology firms for biomarker discovery and validation.
In 2015, North America accounted for the largest share of the metabolomics market, followed by Europe. Easy accessibility to technologically advanced products and the presence of a large number of leading metabolomics manufacturers in the region are driving market growth in North America. Similarly, the rising acceptance of personalized medicines, increasing metabolomics research activities, and growing adoption of technologically advanced products are driving the growth of the North American metabolomics market. The Asia-Pacific region is expected to witness the highest growth in this market majorly due to improving biopharmaceutical research infrastructure, large population, rising healthcare needs, growing per capita income, and growing economies in Japan and India. In addition, manufacturers are increasingly focusing on strengthening their presence in emerging markets of APAC countries.
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The global metabolomics market is highly competitive in nature, with the top five companies accounting for the major market share in 2015. Some key players in this market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), Shimadzu Corporation (Japan), Metabolon Inc. (U.S.), LECO Corporation (U.S.), Biocrates Life Sciences AG (Austria), Human Metabolome Technologies, Inc. (Japan), and Waters Corporation (U.S.). These leading players have primarily focused on product launches, acquisitions, agreements, collaborations, partnerships, and expansions for growth in the market.
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