The global metabolomics market is a highly competitive arena. Agilent Technologies, ThermoFisher Scientific, Shimadzu Corporation, Waters Corporation, and Bruker Corporation are the top five players and had collectively accounted for more than 70% of the overall market in 2015. These key players have a strong grip on the global market, finds Transparency Market Research (TMR) in a new study.
“Moderate government regulations pertaining to the biotechnology industries are attracting several new players. However, the strong presence of established players and a large capital requirement to create high quality and accurate products are posing a significant threat to the new entrants,” says the author of the report.
The global metabolomics market was valued at US$602.6 mn in 2015 and is poised to reach US$2,494.8 mn by 2024, rising at a CAGR of 17.1% between 2016 and 2024. On the basis of technique, separation techniques was the leading segment by revenue in 2015. Due to increasing application of metabolomics in personalized medicines, the segment will retain its position until 2024, expanding at a noteworthy CAGR of 17.4% during the forecast period.
Asia Pacific Metabolomics Market to Grow at Promising Pace
Geographically, North America will continue to be the leading segment until the end of 2024, accounting for 43% of the overall market revenue. The growth in this region can be attributed to increasing funding for research and growing demand for personalized medicine. Moreover, most of the key players have headquarters in the U.S. On the other hand, the Asia Pacific market is expected to expand at a significant CAGR during the same period owing to increasing demand of metabolomics from Japan and China. The increasing adoption of metabolomics in various end-user industries in this region is turning out lucrative for the investments by established as well as new players in the metabolomics market.
Clinical Advancements in Personalized Medicines to Augur Well for Growth of Metabolomics Market
Rapid advancements in personalized medicines coupled with increasing demand for better medicines and rising expenditure on healthcare are fuelling the development and adoption of personalized medicines. This factor, in turn, is driving the global metabolomics market. Moreover, the increasing research funding has led to the establishment of more centers and development of metabolomics technology. These funding are boosting the outcomes of metabolomics, thereby propelling the growth of the market. Furthermore, technological advancements in the field of modern chromatography accessories and consumables are expected to bolster the growth of the market.
Dearth of Skilled Labor to Hamper Development of Metabolomics
The continuous shortage of skilled personnel in the metabolomics industry is adversely affecting the growth of the industry. “Some of the large companies have started providing training to inculcate adequate technical skills in their workforce. However, small firms are not willing to invest in training,” says a TMR analyst. Moreover, as the biotechnology industry matures there is an impending shortage of skilled senior scientists who will be able to guide their organization towards commercialization.
On the other hand, the growth of global biomarker market is likely to augment the growth of the metabolomics market over the next few years. This is because the discovery of biomarkers is playing a vital role in drug development. The increasing demand for biomarker in cancer diagnosis as a novel tool is expected to positively influence the adoption of metabolomics.
The information presented in this review is based on a Transparency Market Research report, titled, ‘Metabolomics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.’
Global Metabolomics market has been segmented as follows:
Global Metabolomics Market, By Technique
Global Metabolomics Market, By Application
Global Metabolomics Market, by Geography
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453