Published: May, 2017
The global metabolomics market features a consolidated vendor landscape, a new report by Transparency Market Research says. In 2015, top five companies namely, Agilent Technologies, Thermo Fisher Scientific, Waters Corporation, Bruker Corporation, and Shimadzu Corporation held more than 70% of the global market for metabolomics.
“Mergers and acquisitions and introduction of newer products remains the key growth strategy of top players in this market,” says TMR analyst. A case in point is Thermo Fisher Scientific. In 2015, Thermo Fisher Scientific acquired Alfa Aesar – a leading manufacturer of laboratory chemicals. This acquisition enhanced the laboratory chemical manufacturing capability of Thermo Fisher Scientific.
Key players in the market are engaged in the introduction of newer products for metabolomics. In Januray 2015, Shimadzu Corporation introduced Nexera UC automated supercritical fluidic chromatography. The system is designed for a host of applications, which includes monitoring pesticides in food products, and drug discovery research in pharmaceuticals among others.
The global metabolomics market is expected to rise at a CAGR of 17.1% between 2016 and 2024 for the market to reach a valuation of US$2,494.8 mn by 2024.
Government-backed Initiatives for Biotechnology Research Benefits Growth of North America and Europe Markets
In terms of technique, high performance liquid chromatography accounts for the leading share of the market. The segment is expected to register a CAGR of 17.8% between 2016 and 2024.
Biomarker discovery stood as the leading application segment in the metabolomics market in 2015. This is because metabolomics suffice the important clinical need by providing biomarkers that are useful for early identification of diseases. However, metabolomics is gaining prominence in drug assessment as well as clinical toxicology.
The metabolomics market is studied with respect to the regional segments of North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Among these, North America and Europe are leading markets for metabolomics due to increasing research and development initiatives in pharmaceutical and biotechnology, rising necessity for toxicology technologies, and government funding for high quality research.
Increasing Scope of Personalized Medicine Propels Market
In current times, exceptional scientific advances and technological developments have led to the scope of personalized medicine. This helps to detect disease at an early stage, prevents disease progression, and at the same time increases the effectiveness of healthcare system.
The great opportunity for personalized medicine lies in introducing novel scientific, business, and medical models. The increasing prevalence of chronic degenerative diseases such as cancer, neurodegenerative disorders, and cardiovascular diseases in both developed and developing countries due to several factors opens scope for personalized medicine. This, along with the rising unmet medical needs indirectly drives the metabolomics market.
In addition, increasing government funding for research in metabolomics is contributing to the growth of the metabolomics market. The National Institute of Health (NIH) is the leading agency for funding of medical research that sponsors thousands of scientists associated with research institutions and universities across America and worldwide. Between 2008 and 2011, NIH funded US$25,656,838 for metabolomics research.
An increasing number of innovative product launches by players in this market is also driving the metabolomics market. For example, Agilent Technologies and CambTEK entered into an agreement for developing automated sample preparation technology for liquid chromatography system.
On the flip side, dearth of skilled personnel in biotechnology industry is adversely impacting the growth of this industry as well as domains such as metabolomics industry.
The review presented is based on findings of Transparency Market Research report, titled “Metabolomics Market (Technique – Separation Techniques (Gas Chromatography, Capillary Electrophoresis, High Performance Liquid Chromatography, Ultra Performance Liquid Chromatography), Detection Techniques (Nuclear Magnetic Resonance Spectroscopy, Mass Spectrometry); Application - Drug Assessment, Biomarker Discovery, Nutrigenomics, Clinical Toxicology) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global metabolomics market is segmented as follows:
Global Metabolomics Market, By Technique
- Separation Techniques
- Gas Chromatography (GC)
- Capillary Electrophoresis (CE)
- High Performance Liquid Chromatography (HPLC)
- Ultra Performance Liquid Chromatography (UPLC)
- Detection Techniques
- Nuclear Magnetic Resonance Spectroscopy (NMR)
- Mass Spectrometry (MS)
Global Metabolomics Market, By Application
- Drug Assessment
- Biomarker Discovery
- Clinical toxicology
Global Metabolomics Market, By Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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