Increased adoption of metabolomics in drug development and personalized healthcare is expected to fuel the market growth during the forecast period.

PORTLAND, OREGON, UNITED STATES, September 16, 2021 /EINPresswire.com/ -- The research report published by Allied Market Report states that, the global metabolomics market was valued at $1,572 million in 2017 and is expected to reach $3,301 Mn by 2023, growing at a CAGR of 13.2% during the forecast period. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global metabolomics market share.

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Covid-19 Impact on the Global Market:

Market Research Report provides an overview of the industry based on key parameters such as effect of COVID-19 on market size, sales, sales analysis and key drivers. The coronavirus pandemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly.

The pandemic is having a significant impact on the life sciences market. The analytics tool industry faces manufacturing and supply chain challenges such as: The markets for chromatography, mass spectrometry and other instruments used in metabolic research will also develop negatively in the short term. This is due to the low demand for products from large end users, limited activity in most industries, insufficient funding for academic institutions, the temporary closure of large academic institutions and supply chains. This could be due to factors such as the screen and related issues. Mandatory / after-sales service with restrictions.

Cancer to remain the largest segment through 2023

By indication, the cancer segment is poised to occupy more than two-fifths of the global market by 2023, owing to the rise in the number of cancer incidences worldwide and the immense potential of discovering new cancer biomarkers through metabolomics research. However, other indicators segment is projected to grow at the fastest CAGR of 14.0%, as a wide range of fields including toxicology testing, finding nutrition levels, and drug discovery implement metabolomics as a diagnostic tool.

Asia-Pacific to grow at the fastest rate through 2023

Surge in cancer awareness, rise in medical tourism, and a large number of patient population that's estimated to increase are key factors that are projected to render Asia-Pacific the fastest growing region through 2023. However, Europe would continue to occupy the largest market share, owing to well-developed healthcare infrastructure and higher demand for metabolomics based diagnostics.

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Metabolomics is an innovative approach for the treatment and diagnosis of chronic diseases. Increased adoption of metabolomics in drug development and personalized healthcare is expected to fuel the market growth during the forecast period.

Key Findings of the Metabolomics Market:

The drug discovery segment is estimated to grow at the highest rate during the forecast period.

The biomarker discovery segment generated the highest revenue in 2016, and is expected to continue its dominance in the near future.
North America dominated the global market in 2016.

China is expected to grow at the highest CAGR in the Asia-Pacific region.

North America accounted for the highest market share in 2016, owing to surge in R&D investment and availability of modern healthcare facilities. Moreover, increased use of experimental medicines and growth in adoption of metabolomics in precision medicine are expected to boost the North America metabolomics market. However, Asia-pacific is expected to grow at the highest CAGR during the forecast period due to rapid adoption of metabolomics in medical research, increase in disposable income, and surge in government initiatives to discover cost-effective treatments for chronic diseases.

Key market players

Agilent Technologies, Inc.
Danaher Corporation
Biocrates Life Sciences AG
Bruker Corporation
Leco Corporation, Metabolon, Inc.
Human Metabolome Technologies, Inc.
Bio-Rad Laboratories, Inc.
Shimadzu Corporation
Waters Corporation
Thermo Fisher Scientific Inc.

Metabolomics Market Research Report @ https://www.alliedmarketresearch.com/metabolomics-market

They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

We have also published few syndicated market studies in the other trending area that might be of your interest. Below are the titles of the reports for your reference, considering the Impact of Covid-19 on This Market which will help you to assess the aftereffects of a pandemic on short-term and long-term growth trends of this market.

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