North America accounted for the largest share of the metabolomics market in 2019
Northbrook, IL -- (SBWIRE) -- 09/27/2021 -- The Key Growth Elements in Detailed?
The major factors driving the growth of Metabolomics Market are the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, growing demand for personalized medicine and increasing use of metabolomics in toxicology testing are driving the growth of the global metabolomics industry.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Metabolomics Market size is projected to reach USD 4.1 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 13.4% during the forecast period.
Growth Driver: Availability of government and private funding for metabolomics research;
Metabolomic studies are gaining prominence in the life science industry as they help reveal the optimum level of specific metabolites associated with the onset/progression of a disease and the exposure or response to treatment. With the rising prevalence and mortality rate of life-threatening diseases, such as cancer and CVD, there is an increasing focus on novel approaches that can offer effective diagnosis and treatment of these diseases. As metabolomics is considered a novel approach with tremendous potential, additional research is being conducted in this field. Also, in recent years, the focus on metabolomic biomarkers has increased in drug development. As a result of these factors, government and private investments in metabolomics research is increasing.
According to a report by The Metabolomics Innovation Centre (TMIC), metabolomics has experienced tremendous growth since the last decade. High-impact metabolomic discoveries in several diseases, such as cancer, have increased investments in metabolomics facilities across the globe. For instance, in 2018, the US has invested more than USD 65 million in its Regional Comprehensive Metabolomics Resource Cores, while the US universities are believed to have invested an equal amount in establishing metabolomics core facilities across the country. Canada has invested more than USD 30 million in its metabolomics activities and infrastructure.
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Regional Growth, Development and Demand Analysis:
The global metabolomics market is segmented into North America, Europe, the Asia Pacific, Latin Ametica and Middle East & Africa. In 2019, North America accounted for the largest share of the metabolomics technology market. The large share of the North America region can be attributed to the presence of major players operating in the market in US, growing biomedical research in the US, and rising preclinical activities by CROs and pharmaceutical companies in the region.
Major Key Players Mentioned in the research report are:
The metabolomics market is dominated by a few globally established players such as Waters Corporation (US), Agilent Technologies (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific (US), Danaher Corporation (US), Bruker Corporation (US), PerkinElmer (US), Merck KGaA (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Human Metabolome Technologies, Inc. (Japan), LECO Corporation (US), Metabolon, Inc. (US), Bio-Rad Laboratories (US), Scion Instruments (US), DANI Instruments S.p.A. (Italy), GL Sciences (Japan), SRI Instruments (US), Kore Technology Ltd. (UK), and JASCO, Inc. (US) among others.
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Recent Developments Metabolomics Technology Market;
– In 2020, Danaher Corporation acquired GE Healthcare's Life Sciences business.
– In 2020, Agilent and Thermo Fisher extended their agreement to enhance the compatibility of Thermo Fisher's analytical systems with Agilent's OpenLAb Chromatography Data System
– In 2020, Waters Corporation announced the establishment of Immerse Cambridge, a research laboratory in the heart of Cambridge's Kendall Square. Immerse Cambridge will serve as a strategic, collaborative space in the community, where Waters can partner with academia and research to accelerate the next generation of scientific advancements.