The Growing Availability of Government and Corporate Funding for Metabolomics Research, Increasing R&D Expenditure in the Pharmaceutical and Biopharmaceutical Industry, and Ongoing Improvements In Metabolomics Technologies Are Driving the Expansion of The Global Metabolomics Market, which is forecasted to Cross ~US$ 5 Bn by 2028 says Ken Research Study.
The comprehensive study of small compounds also referred to as metabolites, found in cells, bio fluids, tissues, or living things is called metabolomics. The metabolome is the collective name for these little molecules and the interactions it have inside a biological system. Metabolomics is widely utilized in diverse applications, such as biomarker discovery, drug discovery, toxicology testing, nutrigenomics, functional genomics, personalized medicine, and others.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
- Growing Patient Awareness Drives Market Growth for Metabolomics.
One of the key factors driving the market is the increasing worldwide elderly population, which is pushing up the incidence rates of the target diseases, including diabetes and cancer. The expansion of the Metabolomics market will also be driven by the target patient population’s expanding base and increasing patient awareness.
According to World Health Organization (WHO) reported in October 2022, that by 2030, one in every six individuals around the world will be 60 or older. At this point, the proportion of the population aged 60 and up will rise from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 and up will have doubled (2.1 billion). The number of people aged 80 and up is expected to triple between 2020 and 2050, reaching 426 million.
According to Ken Research estimates, the Global Metabolomics Market – valued at around ~US$ 1.5 billion in 2017 and estimated to reach nearly ~US$ 2.5 billion in 2022 – is further expected to grow to around ~US$ 5 billion opportunity by 2028.
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1. Growing Government and Private Organization Funding Drive Market Growth.
The rise in government and private organization financing for technical research, as well as the expansion of key players’ partnerships and collaborations for the improvement of its product portfolio, are only a few of the reasons influencing the growth of the metabolomics market. The leading companies have significantly increased its R&D spending in order to create cutting-edge metabolomics platforms, which is anticipated to propel the market’s expansion throughout the course of the projected year. The development of personalized medicine also contributes to the market’s expansion.
For Instance, in August 2022 the Metabolomics Innovation Centre (TMIC) received US$ 8,879,183 from the Major Science Initiatives Fund of the Canadian Foundation for Innovation, assisting the facilities in continuing the research.
In November 2021, the Department of Biotechnology, Ministry of Science and Technology, Government of India has approved an amount of US$ 7, 57,345 (Rs. 6.18 crores) for the project titled “Research and Service facilities for Plant Metabolomics and Proteomics,” to be carried out by Repository of Tomato Genomics Resources (RTGR) at University of Hyderabad (UoH) over a period of four years (2021–25).
2. Market Expansion Is Constrained By High Instrument, Data Processing, And Validation Costs.
The high cost of the tools and equipment, along with data reprocessing and validation, are constraining market expansion. The complexity and diversity of biological samples, a lack of skilled researchers, and various problems with data examination and processing are thought to pose challenges to the growth of the metabolomics market.
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According to West Coast Metabolomics Center, a cluster facility with a substantial service core and four research facilities stated its revised per-sample rates in 2022. Primary Metabolism costs around US$ 81/Sample, Complex Lipids cost around US$ 114/Sample, Biogenic amines cost around US$ 114/Sample, and Targeted Metabolite analyses cost around US$ 93/ Sample.
Key Topics Covered in the Report
- Snapshot of Metabolomics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Metabolomics Market
- Historic Growth of the Overall Metabolomics Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Metabolomics Market Industry
- Overview, Product and Services Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Metabolomics Market
- Future Market Forecast and Growth Rates of the Total Metabolomics Market and by Segments
- Market Size of Segments with Historical CAGR and Future Forecasts
- Analysis of the Metabolomics Market in Global Regions
- Major Metabolomics Type/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
Notable Key Players Mentioned in the Report
- Agilent Technologies, Inc.
- Danaher
- Shimadzu Corporation
- Waters Corporation
- Bruker
- Human Metabolome Technologies Inc
- Thermo Fisher Scientific
- LECO Corporation
- Metabolon INC
- PerkinElmer Inc.
Notable Emerging Companies Mentioned in the Report
- Million Marker
- Prometheus Metabolomics
- Afekta Technologies Ltd.
- Adapsyn Bioscience Inc.
- QuLab Medical Ltd
Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report
- Manufacturers of Metabolomics
- Distributors, Suppliers, and Sales Channels
- Emerging and Startup Companies in Metabolomics
- Metabolomics Manufacturers
- Market research and consulting firms
- Organizations, forums, and alliances related to Metabolomics
- Metabolomics Testers
- Global Metabolomics manufacturers, suppliers, distributors, and other stakeholders
- Associations, organizations, forums, and alliances related to Metabolomics
- Government bodies such as regulating authorities and policymakers
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more information on the research report, refer to the below link:
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