Global Metabolomics Market to Be Worth $2,455.4 Million by 2023
Factors such as government funding, introduction of computer-based metabolomics, and wide range of metabolomics application in R&D and therapeutic areas are expected to drive the market growth during the forecast period
Bangalore, India, May 31, 2017 (Newswire.com) - According to Infoholic Research, the introduction of various separation techniques to enhance the process for identifying cellular metabolites will boost the growth of the metabolomics market in the coming years. A wide range of metabolomics applications in R&D and therapeutic areas is expected to diversify the reach of the technology in different aspects of healthcare.
Additionally, bioinformatics-based applications of metabolomics are expected to witness strong growth during the forecast period. Moreover, growing number of clinical trials, toxicological studies, and data analysis solutions and software are expected to boost the growth of the metabolomics market worldwide. However, the market is witnessing a lack of awareness as well as a shortage of skilled professionals to execute metabolomic procedures. Mass Spectrometry accounted for the largest share amongst the detection techniques in 2016. According to Infoholic Research, the “Global Metabolomics market” is expected to grow at a CAGR of 13.5% during the forecast period 2017–2023 to touch an aggregate of $2,455.4 million by 2023.
"Mass Spectrometry is one of the most powerful analytical techniques available for analytical scientists in the field of Metabolomics. Mass spectrometry is applied in various fields such as anti-doping in sports, therapeutic drug monitoring in medical research, identifying infectious bacteria, analysing proteomics and metabolites, chemical impurity detection in food and water, etc. The market is gradually realising the importance of mass spectrometry coupled with liquid chromatography."
Victor Mukherjee , Assistant Manager (Research - Healthcare) at Infoholic Research
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The Global Metabolomics market is analyzed based on three segments — types, end users, and regions. The regions covered in the report are the Americas, EMEA, and APAC regions. The Americas is currently leading the metabolomics market. This is mainly due to reliable availability of technologically advanced products and demand for personalized medicine and funding for R&D. In the Americas region, the US and Canada are set to be the leading countries. Europe is set to be the second leading region. Germany is one of the leading countries in Europe in terms of revenue. Continuous increasing demand for metabolomics in Asian countries such as China and Japan is expected to drive the Asia Pacific market the fastest during the forecast period.
In terms of technique, the metabolomics market is segmented into Separation techniques and Detection techniques. Separation techniques segment holds the largest market share till date. Increasing demand for biomarker discovery and personalized medicines is expected to drive this particular segment during the forecast period. The market is expected to be on a positive year-on-year growth rate, as the market is already witnessing an increasing number of clinical trials and investments in R&D.
“Mass Spectrometry is one of the most powerful analytical techniques available for analytical scientists in the field of Metabolomics. Mass spectrometry is applied in various fields such as anti-doping in sports, therapeutic drug monitoring in medical research, identifying infectious bacteria, analysing proteomics and metabolites, chemical impurity detection in food and water, etc. The market is gradually realising the importance of mass spectrometry coupled with liquid chromatography,” said Victor Mukherjee, Assistant Manager (Research – Healthcare) at Infoholic Research.
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Further, the report also aims to cover the below points:
Provides an in-depth analysis of the key business opportunities in countries and verticals
Provides the complete details about the various techniques of metabolomics overview
Provides the complete details of trending metabolomics applications
Provides the complete details about the analysis of top 7 players
Provides industry outlook including current and future market trends, drivers, restraints and emerging technologies
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