According to a new market research report published by Inkwood Research, the Global Metabolomics Market is propelling at a CAGR of 11.84% over the forecast period.
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Metabolomics is a scientific study and examination of biochemical processes that involve intermediates and products of metabolic activity. The process also employs different analytical procedures to determine metabolites which include, multivariate analysis, chromatography and spectroscopy. Metabolites are carefully relevant to the phenotype of an organism, and are applicable in a number of applications, namely identification of gene function, extensive correspondence testing and phenotyping of genetically modified plants and biotic-abiotic stress reaction analysis. Moreover, it also provides scientists and researchers to evaluate the physiological adverse effects of drugs on an organism.
Metabolomics is an innovative technology used in studying cancer. It is promising as it assists in identifying new biomarkers for cancer, which would help in the diagnosis and prognosis of the diseases. Metabolomics has gained traction over the last decade, owing to its benefits such as accuracy and consumption of less time. The successful implementation of this technology has resulted in attracting substantial funding from both the government and private organizations to further boost R&D activities of metabolomics.
Moreover, NIH (National Institutes of Health) has authorized funding around USD 14.3 million in FY2013, and over the five years, it has potentially funded more than USD 51.4 million to escalate the field. NIH Common Fund’s Metabolomics Program established the investment, and is likely to extend support in core areas such as technology development, comprehensive metabolomics resource cores, training and educational activities and reference standards synthesis. Through the program, NIH has committed to building infrastructure and capacity for metabolomics research, which will help the market grow significantly.
Biomarker Discovery contributes the Largest Share in the Application Segment
In 2018, the majority of the share was captured by biomarker discovery in the global metabolomics application market. Biomarker discovery contributed approx. 50% of share in 2018 and is anticipated to contribute the majority of share by 2027. In metabolomics, a biomarker is a metabolite that causes or is linked with an organism’s vulnerability to diseases. It can also be used to determine exposure and the effects of xenobiotics that are present in the organisms and the environment. The biomarker can be an internal substance such as a hormone, or it can be an external substance and its variant processed by the system. For instance, Nicotine-derived nitrosamine ketone (NNK), also known as 4-(methylnitosamino)-1-(3-pyridyl)-1-butanone is a tobacco-specific nitrosamine; it plays a vital part in carcinogenesis.
Asia Pacific holds Potential Prospects for the Global Metabolomics Market
Geographically, the global metabolomics market is categorized in 4 major regions, namely North America, Asia Pacific, Europe and rest of world. In 2018, North America led the global market by contributing the largest share. However, it is the Asia Pacific region that is progressing at a significant pace with the fastest CAGR of 12.33% during the forecast period. The region comprises countries with diverse economies like South Korea, Japan, China and India. Developing countries present an excellent opportunity for market players to expand manufacturing facilities in the region. Recently, significant development has been witnessed in different parts of the region, including Japan, South Korea, and Taiwan, regarding metabolomics research and development. The regional market is expected to grow considerably due to the increase in the adoption of nonconventional and modern therapeutic procedures in recent years.
Some of the top companies leveraging the global metabolomics market are Danaher Corporation, Waters Corporation, Agilent Technologies, Shimadzu Corporation and Thermo Fisher Scientific. The companies in the metabolomics market are less but well-established globally, with their products used and recommended worldwide.
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