Asia-Pacific is expected to experience the highest growth rate during the forecast period

09/dic/2020 19:57:56 Automotive Market Research Reports Contatta l'autore

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The biomarker discovery segment contributed to the highest market share in 2017 and will maintain its dominant share during the forecast period. Advancements in quantification methods & technologies along with rising in concerns regarding the prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer would fuel the growth of this segment.

Global Metabolomics Market was valued at $1,379 million in 2016, and is estimated to reach $3,301 million by 2023, registering a CAGR of 13.2% from 2017 to 2023. while, Asia-Pacific is expected to experience the highest growth rate during the forecast period.

Key Findings of the report:

  • The drug discovery segment is anticipated to witness the highest growth rate during the forecast period.
  • The biomarker discovery segment generated the highest market share in 2017 and is expected to maintain its dominance during the forecast period.
  • North America dominated the global metabolomics market in 2017.
  • China would register the highest CAGR in the Asia-Pacific region.

The biomarker discovery segment accounted for the highest market share in 2016, and is expected to continue this trend during the forecast period. Technological advancements in quantification methods & technologies and increase in concerns related to prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and cancer, are expected to drive the growth of this segment.

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.

North America held the major market share in 2017, owing to a surge in R&D investments and the availability of advanced healthcare facilities. In addition, a rise in usage of experimental medicines and the increase in the adoption of metabolomics for precision medicine fuel the growth. However, Asia-pacific would grow at the highest CAGR during the forecast period owing to the increase in the adoption of metabolomics in medical research and an increase in government initiatives for finding cost-effective treatments for chronic diseases.

Key market players

The key players analyzed in the report include 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, and Thermo Fisher Scientific Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

press-release: https://www.alliedmarketresearch.com/press-release/metabolomics-market.html

Web: https://www.alliedmarketresearch.com

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