New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Metabolomics Services Market: Key Insights
According to our new research study on “Metabolomics Services Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type (Targeted Metabolomics Service and Untargeted Metabolomics Service) and Application (Pharmaceutical and Biotechnology Industry, Agritech, and Environment),” the market is expected to reach US$ 1,895.14 million by 2028 from US$ 501.24 million in 2021; it is estimated to grow at a CAGR of 20.9% from 2021 to 2028. The market growth is mainly attributed to the rising incidence of cancer, increasing adoption of metabolomics and investments by market players. However, high costs of tools and instruments, and their operations restrict the metabolomics services market growth.
Metabolomics services Market: Competition Landscape and Key Developments
BASF SE, TMIC, Creative Proteomics, BGI, RTI International, Afekta Technologies Ltd., Fred Hutchinson Cancer Research Center, and West Coast Metabolomics Center are among the key companies operating in the metabolomics services market. Leading market players are focusing on new product launch, expansion, diversification, and acquisition strategies, thereby tapping prevailing business opportunities.
Get Exclusive Sample Pages of Metabolomics Services Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00025127/
North America dominates the global metabolomics services market. The US is expected to hold the largest share of the market in this region in 2021. The increasing adoption of advanced technologies, and growing research and development activities are contributing to the progress of the metabolomics services market in North America. The well-established and large healthcare sector further supports the proliferation in this region.
The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries in the world. In North America, the US registered the highest number COVID-19 cases. The pandemic led to a chaotic situation in the healthcare sectors worldwide, with a dramatic increase in demand for diagnosing and therapeutic devices in hospitals. The demand for ventilators, respirators, personal protective kits, and in vitro diagnostic (IVD) tests rose drastically in hospitals. The US Food and Drug Administration (FDA) has increased its efforts to support the health of people; it has imposed several guidelines and for hospitals and medical device companies. Companies such as Thermo Fisher Scientific, F. Hoffmann-La Roche AG, EverlyWell, and Abbott are producing COVID-19 diagnosis test kits. Likewise, Abbott has received Emergency Use Authorization (EUA) for a point-of-care test that can provide results in minutes.
Download Sample PDF Brochure of Metabolomics Services Market Size and Growth Research Report at https://www.theinsightpartners.com/sample/TIPRE00025127/
Rising Incidence of Cancer Drives Metabolomics Services Market Growth:
Metabolomics studies help in detecting a wide range of metabolites in tissues and biofluids. These techniques has a significant application in diagnostics and cancer disease analytics. The growing prevalence of different types of cancer is expected to drive the market during the forecast period. As per the data published by the World Health Organization (WHO) in September 2021, ~70% of deaths from cancer are reported in the low- and middle-income countries. According to the Global Cancer Observatory records, the incidence of different cancer types is as follows: breast cancer – 11.7% (2.26 million cases), lung cancer 11.4% (2.21 million cases), colon and rectal cancer 10% (1.93 million cases), prostate cancer 7.3% (1.41 million cases), stomach cancer 5.6% (1.09 million cases). Following are the details regarding the region prevalence of cancer in 2020:
| Region | New Cancer Cases |
| Northern America | 2,556,862 |
| Europe | 4,398,443 |
| Africa | 1,109,209 |
| Asia | 9,503,710 |
Source: Globocan 2020 and The Insight Partner’s Analysis
.
Metabolomics Services Market: Segmental Overview
The global metabolomics services market, based on service type, has been segmented into targeted metabolomics service and untargeted metabolomics service. The targeted metabolomics service segment is likely to hold a larger share of the market in 2021. Moreover, the targeted metabolomics service segment is anticipated to register a higher CAGR in the market during the forecast period.
The global metabolomics services market, based on application, is segmented into pharmaceutical and biotechnology industry, agritech, and environment. The pharmaceutical and biotechnology industry segment is estimated to hold the largest share of the market in 2021. It is also expected to register the higher CAGR of 21.6% in the market during 2021–2028.
Order a Copy of Metabolomics Services Market Size, Share, Strategic Insights and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00025127/
Key Questions to Request for Metabolomics Services Market:
- What are Metabolomics Services?
- What are the driving factors for the Metabolomics Services market across the globe?
- What will be the CAGR of Metabolomics Services market?
- Which region held highest share in 2021 in the global Metabolomics Services market?
- Who are the key players in the Metabolomics Services market?
- Which segment among Metabolomics Services market provides the most opportunity for growth?
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release - https://www.theinsightpartners.com/pr/metabolomics-services-market
Connect With Us on:
LinkedIn: https://www.linkedin.com/company/7591674/admin/
Twitter: https://twitter.com/tipmarkettrends
Facebook: https://www.facebook.com/theinsightpartners/
YouTube: https://www.youtube.com/c/TheInsightPartners
RSS/Feeds: https://www.theinsightpartners.com/feed/ | https://www.openpr.com/news/archive/139407/The-Insight-Partners.html
