Global metabolomics market is expected to flourish at a significant CAGR of 15.6% over the forecast period. Moreover, the global metabolomics market is expected to garner USD 2.9 Million by the end of 2024. Factors such as rising demand for precise diagnosis of disease and personalized medicine, increasing research and development activities and massive funding by the government organizations are expected to intensify the growth of the global metabolomics market.
North America captured the highest percentage of market share in overall metabolomics market in 2016. Further, North America is expected to continue its dominance over the forecast period. This can be attributed to the presence of large number of metabolomics manufacturer in the region. Moreover, high disposable income and rising demand for personalized medicine is expected to fuel the growth of the market in North America region. U.S. is the major contributor to the growth of global metabolomics market. Asia Pacific is also expected to witness the augmented demand for metabolomics during the forecast period. Improving healthcare infrastructure and expansion of biotechnology industries in the region is expected to strengthen the growth of the metabolomics market during the forecast period.
Funding By the Government Organizations
Growth in the spending by the government agencies is boosting the growth of the metabolomics market. For instance, U.S. National Health Institute is funding second stage metabolomics program from 2018-2021. Apart from this, increasing demand for toxicology technologies is expected to positively impact the growth of the market.
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Rising Demand for Personalized Medicine
Significant growth in the demand for personalized medicine is expected to trigger the growth of the global metabolomics market. Moreover, increasing adoption of metabolomics technologies in pharmaceuticals and biotechnology sector for drug discovery is envisioned to bolster the growth of the metabolomics market.
However, high cost of metabolomics tools and instruments and lack of awareness are expected to hamper the growth of the global metabolomics market.
The report titled “Global Metabolomics Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global metabolomics market in terms of market segmentation by technique, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global metabolomics market which includes company profiling of . The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global metabolomics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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