The presence of a sophisticated healthcare infrastructure and extensive research and development are some of the factors leading to a conducive environment for the global metabolic market to grow. The market is driven by increasing volume of clinical research and growth of metabolic data analysis solutions and software, states a new market report published by Transparency Market Research (TMR). Some of the leading players in the global metabolic market are: Agilent Technologies, Inc.(U.S.), Thermo Fisher Scientific, Inc. (U.S.), Biocrates Life Sciences AG (Austria), Waters Corporation (U.S.), Shimadzu Corporation (Japan), Human Metabolome Technologies, Inc.(Japan), Metabolon, Inc. (U.S.), LECO Corporation (U.S.), Bio-Rad Laboratories, Inc.(U.S.), and Bruker Corporation (U.S.).
According to TMR, the global metabolomics market is projected to expand at a high CAGR of 17.1% between 2016 and 2024 and be worth US$2,494.8 mn by 2024. Based on application, the market is segmented into biomarker discovery, drug assessment, nutrigenomics, and clinical toxicology. On the basis of technique, the global metabolomics market is segmented into separation techniques and detection techniques. Segmentation technique is further categorized into study of gas chromatography, high performance liquid chromatography (HPLC), capillary electrophoresis, and ultra-performance liquid chromatography (UPLC). Of these, the high performance liquid chromatography segment accounted for the highest share in the market. Detection technique includes nuclear magnetic resonance spectroscopy (NMR), mass spectrometry (MS) and others.
Asia Pacific to Emerge as Lucrative Market for Metabolomics
By geography, North America has been leading in the global metabolomics market. The developed research infrastructure in the U.S. & Canada is encouraging the growth of this market in the region. The region has shown increasing acceptance of personalized medicine as well as positive response to the adoption of technologically advanced products and this is boosting the growth of the metabolomics market. Apart from North America, it is the Asia-Pacific region which is expected to exhibit high growth. In fact, Asia Pacific is projected to expand at the fastest CAGR in the forecast period, driven by extensive research activities and growing investments not only by governments but also by leading players in the region.
Use of Metabolomics in Personalized Medicines to Drive Market
The growing acceptance of metabolomics in personalized medicines is one of the key factors boosting the growth of the market. The increasing biotech research and development and pharmaceutical expenditure are leading to continuous advancements in technology, spelling growth for the global metabolomics market. To add to this, government funding and private funding are also encouraging the growth of this market. Metabolomics are being increasingly in demand as they help in reducing the gap between genotype and phenotype by offering a complete view of cell functioning. It also helps in the identification of novel alterations in some of the metabolites.
Expensive Tools and Instruments to Pose a Challenge for Players in Metabolomics Market
On the other hand, there are issues regarding data processing and data examination, which can pose a challenge for the market. The high cost of instruments and tools can also be a problem. Further, the need for well-qualified researchers and the lack of the same is restraining the growth of the metabolomics market. However, the untapped markets in emerging nations will spur new growth opportunities for market players. Consistent technological advancements and researches will ensure a continued growth of this market and will reduce the impact of these restraints in teh future.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Metabolomics Market (Gas Chromatography, Capillary Electrophoresis, High Performance Liquid Chromatography, Ultra Performance Liquid Chromatography, Nuclear Magnetic Resonance Spectroscopy, Mass Spectrometry, Drug Assessment, Biomarker Discovery, Nutrigenomics, Clinical Toxicology) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global metabolomics market has been segmented as follows:
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