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% during the 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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Market Dynamics
Metabolite analysis is commonly used for early diagnosis of various diseases such as cancer, neurological disorders, cardiovascular disease, and others. Of the different clinical conditions, cancer is the most significant contributor to the demand for metabolomics services. This is primarily attributed to the global increase in cancer incidence and increasing oncological research activities. As per the World Health Organization (WHO), cancer was the second leading cause of death worldwide and responsible for 8.8 million deaths in 2015.
As stated by the National Cancer Institute, approximately 1,735,350 cancer cases were diagnosed in the US in 2018. Other clinical causes for metabolomics include cardiovascular conditions, neurological disorders, inborn metabolism errors, and others. Increasing the use of metabolomics in the identification of chronic diseases in the healthcare sector is stimulating the development of the demand for metabolic services.
However, the high cost of instruments and strict government policies are expected to curb market growth.
Segmentation
The global market for metabolomics services has been segmented into product and service and application.
On the basis of product and service, the global market for metabolomics services has been segmented into metabolomics bioinformatics services, chromatography, and mass spectrometry.
Based on the application, the global market for metabolomics services has been segmented into biomedical and pharmaceutical, agriculture, and food.
Regional Analysis
Regionally, the global market for metabolomics services has been divided into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas are expected to witness the highest share of the global market for metabolomics services. The rise of this region can be driven by the rising prevalence of cancer and cardiovascular disease. As per the American Cancer Society, Inc., 1,762,450 cases of cancer were diagnosed in the US in 2019. Moreover, according to estimates from the National Institutes of Health 2018, the number of cancer cases, and the number of patients will rise to 23.6 million by 2030.
Europe is anticipated to have the second-largest market share in the forecast period. The European market for metabolomics services is further split 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 contributing to the growth of the market in this area are the presence of a wide range of medical device firms, the rise in healthcare costs, and innovation in medical devices to improve quality of life.
The Asia Pacific is expected to be the fastest-growing market due to evolving healthcare infrastructure, a rising number of R&D organizations, and a growing disposable income. In addition, the increase in research and development centers and the emergence of top companies in developing countries boost the growth of the region.
The Middle East & Africa is predicted to show the lowest growth in the global market for metabolomics services due to factors such as low per capita income, and a lack of sufficient funding for healthcare infrastructure accounted for a relatively small market share in 2018.
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Key Players
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).
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