the global metabolomics market was estimated at $2.03 billion in 2020 and is expected to hit $6.66 billion by 2030, registering a CAGR of 12.2% from 2021 to 2030.
Drivers, restraints, and opportunities-
The fact that metabolomics has the ability to detect a large number of metabolites from fluid or tissue sample in a single step and it can also yield great amounts leads to a steep rise in demand for metabolomics, thereby driving the growth of the market. On the other hand, high cost of metabolomics instruments and scarcity of professionals restrain the growth to some extent. However, technological advancements in analytical techniques and upsurge in R&D expenditure are expected to create an array of opportunities in the industry.
Covid-19 Scenario-
- The outbreak of the pandemic gave way to huge disruptions in the R&D activities, which in turn, impacted the global metabolomics market negatively.
- However, the market has almost recovered, in terms of revenue.
The metabolomics bioinformatics tools and services segment to maintain the lion's share-
On the basis of product & services, the metabolomics bioinformatics tools and services segment accounted for the highest market share in 2020, generating nearly three-fourths of the global metabolomics market. The same segment is also anticipated to cite the fastest CAGR of 12.7% from 2021 to 2030. This is owing to surge in amount of data generated in metabolomics processes which needs proper management through the use of bioinformatics tools.
The biomarker discovery segment to lead the trail-
On the basis of application, the biomarker discovery segment generated the highest share in 2020, holding more than two-fifths of the global metabolomics market, due to surge in prevalence of cancer. The personalized medicine segment, however, is expected to cite the fastest CAGR of 15.6% from 2021 to 2030. Increase in awareness related to the use of personalized medicine and extensive use of metabolomics in it drive the growth of the segment.
North America to dominate by 2030-
On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding more than two-fifths of the global metabolomics market, owing to surge in research activities which involve the use of metabolomics. Asia-Pacific, on the other hand, is projected to cite the fastest CAGR of 13.9% from 2021 to 2030. This is due to rise in awareness related to use of metabolomics.
Prominent market players-
- Bio-Rad Laboratories INC.
- Agilent Technologies INC.
- Bruker corporation
- Danaher Corporation
- Human Metabolome Technologies INC.
- LECO Corporation
- Metabolon INC.
- BiocratesLife Science AG
- Water Corporation
- Shimadzu Corporation
