The study provides an in-depth analysis of the Metabolomics market, and the current trends &future estimations to elucidate imminent investment pockets.
Growth in R&D expenditure in the pharmaceutical & biopharmaceutical industry, availability of government & private funding for metabolomics research, and ongoing innovations in metabolomics instruments drive the growth of the global metabolomics industry.
According to the report published by Allied Market Research, the global metabolomics market was estimated at $2.03 billion in 2020 and is expected to hit $6.66 billion by 2030, registering a CAGR of 12.2% from 2021 to 2030.
Drivers, restraints, and opportunities-
The fact that metabolomics has the ability to detect a large number of metabolites from fluid or tissue sample in a single step and it can also yield great amounts leads to a steep rise in demand for metabolomics, thereby driving the growth of the market. On the other hand, high cost of metabolomics instruments and scarcity of professionals restrain the growth to some extent. However, technological advancements in analytical techniques and upsurge in R&D expenditure are expected to create an array of opportunities in the industry.
The growth of the global metabolomics market is driven by rise in prevalence of chronic diseases worldwide, an upsurge in R&D investment for the development of metabolomics, and an increase in demand for personalized medicine. However, the lack of skilled professionals in the field along with the astronomical price of metabolomic instruments hampers market growth. Nonetheless, the immense potential of metabolomics in disease diagnostics and its growing prospect in human nutrition would create lucrative opportunities for emerging market players in the near future.
Metabolomics bioinformatics tools and services to hold a dominant position
Based on product & services, metabolomics bioinformatics tools and services segment is expected to be the largest and fastest growing segment through 2030. This is attributed to the tremendous progress demonstrated by bioinformatics, which is poised to grow even further in the near future driven by the use of robust algorithms and parameter estimation techniques in life-science research and analysis.
Owing to increased adoption of metabolomics in precision medicine and upsurge in R&D investment metabolomics market is expected to grow at a productive rate in the analysis period. Moreover, technological advancement in auxiliary medical devices and growth in demand for the development of quality medications is expected to fuel the market. However, the high cost of medical devices and lack of effective data management obstruct the growth of metabolomics market.
Covid-19 Scenario-
The outbreak of the pandemic gave way to huge disruptions in the R&D activities, which in turn, impacted the global metabolomics market negatively.
However, the market has almost recovered, in terms of revenue.
The metabolomics bioinformatics tools and services segment to maintain the lion’s share-
On the basis of product & services, the metabolomics bioinformatics tools and services segment accounted for the highest market share in 2020, generating nearly three-fourths of the global metabolomics market. The same segment is also anticipated to cite the fastest CAGR of 12.7% from 2021 to 2030. This is owing to surge in amount of data generated in metabolomics processes which needs proper management through the use of bioinformatics tools.
