(USA, NY, New York City) According to Market Research Future (MRFR), the global metabolomics services market is projected to reach USD 16,291.0 million, with a CAGR of 7.77% from 2018 to 2025 (forecast period).
Metabolomics can be characterized as the study and analysis of biochemical processes containing intermediates and by-products of metabolic activities. These products are metabolomes, representing the cluster of all metabolites involved in various reactions in the organism, including signaling molecules, secondary metabolites, metabolic intermediates, and hormones.
The main factors responsible for driving the market growth are the growing prevalence of diseases such as cancer, neurological disorders and heart disease across the globe, increasing technical developments in instrumentation, and increasing the use of metabolic agents in life sciences and the biotechnological field.
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The prominent participants in the global metabolomics services market are Waters (US), Agilent Technologies, Inc. (US), Bruker (US), TMIC (Canada), Creative Proteomics (US), Thermo Fisher Scientific (US), Metabolon, INC (US), Human Metabolome Technologies America Inc (Japan), Biocrates Life Sciences AG (Austria), and Shimadzu Corporation (Japan).
The global demand for metabolomics services is segmented into products and services, and applications.
The demand for baby products and services has been segmented into chromatography, metabolic bioinformatics services and mass spectrometry.
Based on the application, the global market for metabolomics services has been segmented into the biomedical and pharmaceutical, agriculture, and food industries.
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The global metabolomics services market, based on region, is divided into the Americas, Europe, the Asia Pacific, and the Middle East & Africa.
The Americas are expected to have the largest share of the global market in services to metabolomics. Americas development can be related due to the increasing prevalence of cancer and cardiovascular diseases. It is projected that 1,762,450 new cancer cases will be diagnosed in the US in 2019, according to the American Cancer Society, Inc. Due to estimates from the National Institutes of Health for 2018, the number of cancer cases and the number of patients will both rise to 23.6 million by 2030.
Europe is expected to have the second-largest market share in the forecast period. The European market for metabolic services is further divided into Western Europe and Eastern Europe. Western Europe is further divided into Germany, the United Kingdom, Italy, Spain, France, and the rest of Western Europe. The factors responsible for the growth of the market in this area are the presence of a large number of medical device companies, increased spending on health care, and innovation in medical devices to improve quality of life.
The Asia Pacific is expected to be the fastest-growing market due to the evolving healthcare infrastructure, increasing numbers of R&D organizations and rising disposable revenue. In addition, the growth of research and development centers and the entry of top companies in developed countries are boosting market growth in this region.
Due to factors such as low per capita income, the Middle East & Africa are projected to show the least growth on the global metabolomics services sector, and lack of sufficient funding for healthcare infrastructure accounted for a comparatively smaller market share in 2018.
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