Metabolic Biomarkers Testing Market Highlights, Global Overview, Trend Analytics and Forecast to 2023
Market Overview:
Biomarkers are molecules that help identify and indicate normal or abnormal processes in an individual’s body, which might be an indication of an underlying disease or condition. Different molecular types, such as proteins or hormones andDNA or genes can serve as biomarkers as they indicate something about an individual’s health condition. Metabolic biomarker testing involves the identification and quantification of metabolites within a biological system. The steps included in this process are identification, profiling, interpretation, and quantification.
Over the years, there has been an increasing demand for personalized medications in both Europe and the American region. This has been a vital factor behind the growth of the metabolic biomarkers testing market. Additionally, various other factors like the increasing support from the governmentwith favorable initiatives and research funding, the growing need for toxicology technologies, and wide-spread R&D activities across different sectors are all contributing to the growth of the market on a global scale. Recent developments in technology is a key strategy being implemented and executed by major market players to expand their global reach and fortify their product portfolio.
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Moreover, factors like increasing biotech and pharmaceutical R&D expenditure, need for precise diagnosis of diseases, and huge investments from government and private organizations are also driving the market growth of metabolic biomarkers testing. The global metabolic biomarker testing market is projected to expand at a CAGR of 11% during the forecast period between 2017-2023. However, lack of awareness concerning metabolic biomarkers and a small pool of professionals with the adequate skill and proficiency level are likely to hamper the market growth in the forthcoming years.
Market Segmentation
· The global segmentation of Metabolic Biomarker Testing Market Overviewis divided into indication, application, techniques, and end-user.
· By indication, the market includes neurological disorders, inborn errors of metabolism, cardiovascular disorders, and others.
· By techniques, the market includes detection and separation techniques.
· Separation techniques are further narrowed down into capillary chromatography, liquid chromatography, and gas chromatography. The liquid chromatography market segment is divided into ultra-performance liquid chromatography and high-performance liquid chromatography.
· By application, the market includes personalized medicine,toxicology testing,drug discovery or drug assessment,nutrigenomics,functional genomics, and others.
· By end-user, the market segments into diagnostic tool companies,clinical laboratories,pharma & biotech companies,healthcare it/big data companies, and others.
Regional Analysis:
The geographical segmentation of metabolic biomarkers testing market covers four major regions: the Americas, Asia-Pacific, Europe, and the Middle East and Africa.
Due to the increasing applications of Next-Generation Sequencing procedures, the Americas is standing tall as the leading market player of metabolic biomarkers. Herein, the US is the most prominent country in terms of market share. The growing research activities initiated by a number of biological and pharmaceutical industries in this region is expected to propel the global metabolic biomarker testing market during the forecast period.
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The European region is the second largest market globally and is estimated to grow throughout the forecast period. This is primarily because of the presence of a vast pool of service providers for analytical equipment in this region and is expectedto steer the market in this region.