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High Performance Liquid Chromatography and Mass Spectrometry Technique Lead the Market
The global metabolomics market is poised to grow at a high CAGR of 30% from 2014 to 2019. The increase in government and private funding for metabolomics research and the growing demand for personalized medicine are some of the major factors driving the growth of the metabolomics market. Moreover, growth in the pharmaceutical and biotechnology industries is also expected to contribute to the growth of the metabolomics market during the forecast period of 2014 to 2019.
In the techniques segment, high performance liquid chromatography (HPLC) accounted for the largest share of 38% of the global metabolomics market in 2014. The large share of this segment can be attributed to its wide application in biomarker discovery. The market is driven by the increase in research funding from governments and private investors in the metabolomics field.
Geographically, in 2014, the global metabolomics market was dominated by North America, primarily due to the presence of major metabolomics companies in the U.S. Increasing demand for personalized medicine is the major driver for this market in North America. By 2019, Europe will continue to dominate the market; the market share of this region is expected to increase to 49% by 2019 from 37% in 2014.
During the forecast period, a majority of the growth in the global metabolomics market will largely be driven by the growing pharmaceutical and biotechnology industries in the Asian market, especially in Japan and China. Countries like Japan, China, and Singapore are also developing sophisticated technologies for drug discovery and early diagnosis of various diseases, which is expected to boost the APAC metabolomics market. On the other hand, the European market is largely driven by the growth in Germany due to vast developments in metabolomic sciences, especially in the drug discovery and toxicology assessment fields.
Metabolomics Market by Technique (Gas Chromatography, High Performance Liquid Chromatography, Nuclear Magnetic Resonance Spectroscopy, Mass Spectrometry), Application (Biomarker & Drug Discovery, Nutrigenomics) & by Indication (Oncology, Cardiology) - Global Forecast to 2019
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