Metabolomics Services Market Size and Growth Rate:
“The Global Metabolomics Services Market is expected to reach US$ 4,135.3 Mn by 2025 owing to increasing prevalence of life threatening diseases”
Metabolomics Services Market Growth Drivers and Restraints:
The global metabolomics services market is expected to reach US$ 4,135.3 Mn by 2025. Metabolomics is the scientific study of chemical processes involving metabolites, the small molecule substrates, intermediates and products of metabolism. The factors which are driving the growth of global metabolomics services market are growing demand for personalized medicines, technological advancements, and increasing use of metabolomics in toxicology testing. Furthermore, integration of the metabolomics data into the clinical workflows helps in understanding the profile of the persons and plays a major role in personalized treatment of that person. The data also helps in detecting various diseases like cancer, genetic disorders, and cardiovascular diseases etc. Additionally, increasing research and development in pharmaceutical and biotechnological department, and availability of government and private funding are surging the growth of global metabolomics services market. On the other hand high cost of tools and instruments, and growing issues related to data examination and processing are hampering the growth of global metabolomics services market.
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Tumor Dominate the Global Metabolomics Services Market
Based on the sample type, global metabolomics services market is segmented into urine, tumor, cell culture media, whole blood, food ingredients, and feces. Tumor dominates the global metabolomics services market owing to increasing prevalence of cancers globally. The abnormal cell growth in later phase leads to cancer. According to WHO cancer is a leading cause of death globally, accounting for an estimated 9.6 million deaths in 2018. So detection of cancer in early stages through metabolomics will stream the growth of global metabolomics services market in the forecast period.
North America Leads the Global Metabolomics Services Market
PBI’s global metabolomics services market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global metabolomics services market through 2014-2018 and expected to dominate over 2019-2025 owing to increase in demand for personalized medicines, improved healthcare facility, presence of major market players, and technological development. Furthermore, growing research and development and increasing government funding are propelling the growth of metabolomics services market in North America. Europe metabolomics services market accounted for a significant share in global metabolomics services market due to their high prevalence of cancer and cardiovascular diseases in European population and increasing research and developmental activities in the field if metabolomics. Moreover, development in healthcare infrastructure, and increase in disposable income in countries such as UK, Germany etc. are also streaming the market growth in Europe region. Asia Pacific metabolomics services market expected to grow significant rate owing to the increased demand for biomarkers, for the diagnosis of various life threatening diseases and rising awareness about various metabolomic technologies in the emerging countries such as China and India are surging the growth of metabolomics services market in APAC region.
Launch of newer services, and strategic alliances are the key strategies adopted by market players
Global metabolomics services market further reveals that the key player’s increasingly adopting strategies such as launch of newer treatment therapies, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
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