According to the latest report by Reports and Data, the global metabolomics market size was USD 1.88 Billion in 2020 and is expected to reach USD 5.10 Billion in 2028 and register a revenue CAGR of 13.2% during the forecast period, 2021-2028.
Increasing use of metabolomics in pharmaceutical & biotechnology companies, contact research organizations, and research & academic institutes is one of the key factors expected to drive market revenue growth over the forecast period
Reports and Data has published its latest report titled “Metabolomics Market, By Product & Service Type (Metabolomics Separation Tools, Gas Chromatography, High-performance Liquid Chromatography, Ultra-performance Liquid Chromatography, Capillary Electrophoresis, Metabolomics Detection Tools, Nuclear Magnetic Resonance), By Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Metabolic Disorders, Inborn Errors of Metabolism, Others), By Application (Biomarker Discovery, Drug Discovery, Toxicology Testing, Nutrigenomics, Functional Genomics, Personalized Medicines, Others), By End-use (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations, Others), and By Region, Forecast to 2028”
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According to the latest report by Reports and Data, the global metabolomics market size was USD 1.88 Billion in 2020 and is expected to reach USD 5.10 Billion in 2028 and register a revenue CAGR of 13.2% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Steady revenue growth of the global metabolomics market is primarily supported by factors such as increasing applications of metabolomics in the healthcare industry in research & development activities, increasing government funding for pharmaceutical and biotechnological research & development projects, rising global geriatric population, and growing prevalence of chronic illnesses such as diabetes and cancer. Rapid adoption of advanced healthcare technology are also driving market revenue growth. Growing use of metabolomics in the discovery and development of new drugs and therapeutics, increasing demand among healthcare organizations and academic research institutes for metabolomics for study of various diseases, and rapid advancement of the global healthcare infrastructure are other major factors contributing to the global metabolomics market revenue growth.
Metabolomics refers to the scientific assessment of various biochemical procedures such as metabolites. It is an emerging field of medical technology and is increasingly being utilized by researchers around the world to study metabolites and low-atomic weight particles in biological samples. Metabolomics allows study of larger quantities and involves various metabolic pathways and natural cycles. Some of the key application areas of metabolomics include considerable proportionality testing, biotic-abiotic stress response study, distinguishing gene functioning, and phenotyping of hereditarily changed plants. However, rising costs of advanced medical tools & equipment, dearth of skilled healthcare professionals, and absence of advanced healthcare infrastructure and facilities in most underdeveloped countries are some key factors expected to hamper the global market revenue growth to a certain extent over the forecast period.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Metabolomics Detection Tools Segment to Lead in Terms of Revenue Growth:
Based on product & service type, the metabolomics detection tools segment is expected to register the fastest revenue growth rate in the global metabolomics market over the forecast period. Major factors supporting the revenue growth of this segment are increasing prevalence of chronic and acute diseases, rising focus of healthcare companies on proving advanced diagnostic and therapeutic solutions, and technological advances in clinical instruments such as computerization, motorization, miniaturization, and metabolomics.
Academic & Research Institutes Segment Accounted for Largest Revenue Share in 2020:
Based on end-use, the global metabolomics market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations, and others. The academic & research institutes segment dominated other segments in terms of largest revenue share in the global market in 2020. Rapid revenue growth of this segment is mainly attributed to rise in pharmaceutical and biotechnological research & development activities, increasing R&D collaborations between leading healthcare companies and academic and research institutes, increasing government funding for healthcare R&D activities and clinical studies, and growing need for new drug discovery and development.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America metabolomics market held the largest revenue share in the global market in 2020. Key factors driving revenue growth of the North America market are rapid adoption of innovative, cutting-edge healthcare technologies, rising focus of pharmaceutical companies on new drug discovery & development, growing prevalence of chronic and acute health disorders, and increasing research & development activities in the life sciences sector. Presence of leading research institutes and healthcare giants such as Thermo Fisher Scientific, Waters Corporation, and PerkinElmer Inc. in the region is another key driver for the North America market growth.
Major Companies in the Global Metabolomics Market Include:
- Agilent Technologies
- Bruker Corporation
- Danaher Corporation (SCIEX)
- LECO Corporation
- Shimadzu Corporation
- Thermo Fisher Scientific
- Waters Corporation
- PerkinElmer Inc.
- Kore Technology Limited
- Human Metabolome Technologies Inc.
Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global metabolomics market based on product & service type, indication, application, end-use, and region:
Product & Service Type Outlook (Revenue, USD Billion; 2018-2028)
- Metabolomics Separation Tools
- Gas Chromatography
- High-performance Liquid Chromatography
- Ultra-performance Liquid Chromatography
- Capillary Electrophoresis
- Metabolomics Detection Tools
- Nuclear Magnetic Resonance (NMR)
- Mass Spectroscopy (MS)
- Surface-based Mass Analysis
- Bioinformatics Tools & Services
Indication Outlook (Revenue, USD Billion; 2018-2028)
- Cancer
- Cardiovascular Disorders
- Neurological Disorders
- Metabolic Disorders
- Inborn Errors of Metabolism
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Biomarker Discovery
- Drug Discovery
- Toxicology Testing
- Nutrigenomics
- Functional Genomics
- Personalized Medicines
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Contract Research Organizations
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of Middle East & Africa
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