Metabolomics Market Overview
Metabolomics deals with the analysis of number and type of compounds present in tissues, through various techniques. These techniques involve separation techniques such as liquid chromatography, gas chromatography and capillary chromatography and detection techniques such as mass spectroscopy, multivariate analysis and spectroscopy. Mass spectroscopy technique is most widely used to measure the amount of metabolites in a sample.
Market Size and Forecast
Global metabolomics market is anticipated to flourish at a CAGR of 15.6% during the forecast period. Further, the market of metabolomics was estimated at a valuation of USD 1.1 Billion in 2016 and is expected to reach USD 2.9 Billion by the end of 2024. Heavy investment by the private companies and government is expected to drive the growth of the metabolomics market globally. Additionally, development of computer based metabolomics is anticipated to escalate the growth of global metabolomics market.
In the terms of region, North America dominated the overall metabolomics market, with a market share of 42% in 2016. Further, North America is expected to continue its dominance over the forecast period. This significant growth can be attributed to the increasing demand for personalized medicine and treatment in the region. Further, rising disposable income of the population is expected to foster the growth of metabolomics market in the next few years. Additionally, increasing investment by government in the research activity is envisioned to bolster the growth of the metabolomics market in the North America region. U.S. is the most prominent market in the region. Increasing research activities by the pharmaceutical and biological industries in the country is anticipated to expand the market of metabolomics during the forecast period. Further, presence of major metabolomics machine manufacturing companies in the country is expected to strengthen the growth of the metabolomics market. Europe accounted for second position with a market share of 38% in 2016. Further, Europe metabolomics market is projected to foresee growth during the forecast period. Presence of large number of analytical equipment service provider is anticipated to fuel the growth of the metabolomics market in the region.
Asia Pacific is likely to witness significant growth during the forecast period 2017-2024. Growth and expansion of pharmaceutical and biotechnology industries in the region are one of the key factors driving the growth of the metabolomics market.
On the basis of technique, global metabolomics market is segmented into separation techniques and detection techniques, out of which, separation technique segment accounted for the highest percentage share of overall metabolomics market in 2016.
Our in-depth analysis has segmented global metabolomics market into the following segments:
Global metabolomics market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increasing investment for metabolomics by the government and private industries is the key factor driving the growth of the metabolomics market globally. For instance, National Institutes of Health provided USD 14.3 Million to launch three new metabolomics research centers. Similarly, Metabolomics Diagnostics was rewarded EUR 6 Million for the study on project IMPROvED. These factors are likely to strengthen the growth of the global metabolomics market.
Apart from this, increase in demand for the personalized medicine from the population of developed nation is expected to boost the growth of the global metabolomics market. Additionally, metabolomics are being used for drug discovery evaluation and biomarker discovery. Further, recent technological advances in metabolomics techniques are expected to drive the growth of metabolomics market.
In contrast, low adoption rate, complexity associated with the data and lack of awareness is anticipated to dampen the growth of the global metabolomics market. Further, lack of skilled manpower in metabolomics science is expected to limit the growth of global metabolomics market.
Scope and Context
Overview of the Parent Market
The global metabolomics market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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