Market Trends of Global Metabolomics Industry
This section covers the major market trends shaping the Metabolomics Market according to our research experts:
Biomarker and Drug Discovery Segment Expected to Generate the Highest Revenue
By application, the biomarkers and drug discovery segment is anticipated to contribute the most to the growth of the studied market. A biomarker is used to see how well the body responds to a treatment for a disease or condition. Hence, they are used primarily in drug discovery.
The incidence of chronic diseases is increasing and generating a demand for new and advanced therapies and treatments. In particular, the increasing cases of cancers are raising awareness of preventive diagnosis, which is a significant factor driving the drug discovery and biomarkers. The application of metabolomics in biomarkers is driving the growth of the market studied.
The incidence of new cancer cases was estimated to be 19,292,789 in 2020, with nearly 9,958,133 deaths due to cancers worldwide, as per GLOBOCAN 2020. The American Cancer Society's Global Cancer Facts estimated that by 2040, the global total is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths. As cancer cases are increasing, people undergo advanced tests. Also, the demand for new drug discoveries is increasing. As metabolomics is used to screen potential biomarkers (specific cells, molecules, genes, gene products, enzymes, or hormones) to measure the cancer drug's responsiveness and facilitate early diagnosis, the demand for metabolomics is increasing.
This increasing demand for new and advanced technologies, as well as strategic measures (such as partnerships, collaborations, mergers, acquisitions, and new product launches), is driving the growth of the studied market. For instance, Bruker launched its timsTOF-based MALDI PharmaPulse Solution for Label-free HTS in Drug Discovery. Also, in January 2022, Bruker acquired Prolab Instruments GmbH. This acuisition included Prolab's precision pumps, autosamplers, and nano-flow to cap-LC UHPLC systems planned to enhance the performance and reliability of timsTOF 4D proteomics and metabolomics solutions.
Therefore, owing to the aforementioned factors, the applications of metabolomics in the biomarkers and drug discovery segment is increasing and it is expected to grow over the forecast period.
North America Expected to Dominate the Market
North America is expected to dominate the market during the forecast period due to the presence of many major players, the increased incidence of chronic diseases, and the high adoption of metabolomics applications in healthcare and healthcare technologies. The high per capita healthcare expenditure and the well-established direct sales channels are the primary driving factors of the metabolomics market in the region.
Additionally, the National Institute of Health (NIH) continuously boosts the small and mid-sized metabolomics-oriented research communities and companies in the United States and other regions. This activity by NIH drives the metabolomics applications in healthcare, which is expected to contribute to the growth of the studied market.
The Centre for Disease Control and Prevention (CDC) updated statistics in January 2022, showing that 6 in 10 adults have a chronic disease, while 4 in 10 adults have two or more chronic diseases in the United States. These chronic diseases create healthcare costs of USD 4.3 trillion or more annually. These high number of cases of chronic diseases demand new and advanced treatments or therapies and drug discovery. This is anticipated to increase the applications of metabolomics and propel the studied market growth.
Furthermore, the large number of market players present in the United States and the strategies they make to sustain themselves in the market majorly drive the metabolomics market in the region. In January 2022, Diagnostic Solutions Laboratory introduced its new OMX Organic Metabolomics test, which combines organic and amino acid metabolites into one unique report. The OMX test can also evaluate small molecule metabolites that reveal each patient's unique 'Metabolic Signature.' Additionally, in February 2022, Metabolomics, a division of Creative Proteomics, launched the microbial metabolomics service to promote a comprehensive understanding of microbial physiology.
Thus, owing to all the above-mentioned factors, the studied market in North America is expected to witness healthy growth during the forecast period.
