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Global Metabolic Biomarker Testing Market Overview
The Metabolic Biomarker Testing Market Size valued at USD 3.56 Billion in 2023. The Metabolic Biomarker Testing industry is projected to rise from USD 3.68 Billion in 2024 to USD 6.54 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 9.23% during the forecast period (2024 - 2032).
There is an increasing demand for personalized medicines in the European and Americas region, the important factors for the growth of the metabolic biomarker testing market. Furthermore, the rising need for toxicology technologies, the increasing government research funding and initiatives, escalated R&D activities across various sectors are fueling the market growth worldwide.
Metabolic Biomarker Testing Market Trends
Metabolic biomarker testing is the process of identification and quantification of metabolites in a biological system. The steps involved in metabolic biomarker analysis are profiling, identification, quantification, and interpretation. Most healthcare professionals use diagnostic tests to clarify and support their clinical decision making.
The recent technological advancement is the key strategy implemented by major players to expand their reach in the global market and fortify their product portfolio. For instance, in November 2016, Metabolon, Inc. launched its novel product the Meta IMD test for diagnosing any hereditary metabolic issues. Moreover, in May 2016, Agilent Technologies Inc. global launch of the Agilent 5110 ICP-OES, an atomic spectroscopy.
Furthermore, the factors such as the rising demand for personalized medicine, increasing need for accurate diagnosis of diseases, increasing pharmaceutical and biotech R&D expenditure, huge investments by government & private players in the R&D are driving the market growth. Lack of awareness of metabolic biomarker and lack of skilled personnel to conduct these procedure are likely to restrain the market growth over the forecast period.
Metabolic Biomarker Testing Market Segmentation
The metabolic biomarker testing market is segmented on the basis of techniques, indications, application, and end user.
Metabolic Biomarker Testing Techniques Insights
On the basis of the techniques, the metabolic biomarker testing market is segmented into separation techniques, detection techniques. The separation techniques are categorized into liquid chromatography, gas chromatography, capillary chromatography. Moreover, the liquid chromatography segment is classified into high-performance liquid chromatography and ultra-performance liquid chromatography. Furthermore, detection techniques are divided into mass spectrometry, multivariate analysis, and spectroscopy. On the basis of detection techniques, spectroscopy is further classified into nuclear magnetic resonance spectroscopy, and Fourier transform infrared spectroscopy.
Metabolic Biomarker Testing Indication Insights
On the basis of the indication, the metabolic biomarker testing market is segmented into cancer, cardiovascular disorders, neurological disorders, inborn errors of metabolism, and others.
Metabolic Biomarker Testing Application Insights
On the basis of the application, the metabolic biomarker testing market is segmented into drug discovery or drug assessment, nutrigenomics, toxicology testing, personalized medicine, functional genomics, and others.
Metabolic Biomarker Testing End user Insights
On the basis of the end user, the metabolic biomarker testing market is segmented into pharma & biotech companies, diagnostic tool companies, healthcare it/big data companies, clinical laboratories, and others.
Metabolic Biomarker Testing Market Regional Analysis
The metabolic biomarker testing market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominated the metabolic biomarker testing market owing to the increasing applications of NGS procedures. The U.S. is the most prominent market in the region. Rising research activities undertaken by various biological and pharmaceutical industries in the region is anticipated to augment the metabolic biomarker testing market over the forecast period.
The European region is responsible for substantial market share in 2016. The European metabolic biomarker market is predicted to grow throughout the forecast period due to the presence of huge number of service provider for analytical equipment is expected to drive the metabolic biomarker market in this region.
The Asia Pacific region is likely to witness significant growth owing to the expansion of biotechnology and pharmaceutical industries in the region are some of the key factors driving the growth of the metabolic biomarker market.
The Middle East and Africa is expected to showcase healthy growth over the coming years. Weak healthcare and research infrastructure, lack of awareness about genetic diseases, limited availability of products and services, and traditional healthcare practices are some factors affecting the growth of the Middle East and African metabolic biomarker testing market.
Metabolic Biomarker Testing Market Key Players
Some of key the players in the metabolic biomarker testing market are
- Agilent Technologies, Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Bruker Corporation (U.S.)
- Danaher Corporation (U.S.)
- Waters Corporation (U.S.)
- Shimadzu Corporation (Japan)
- Biocrates Life Sciences AG (Austria)
- Thermo Fisher Scientific, Inc. (U.S.)
- Human Metabolome Technologies Inc. (Japan)
- LECO Corporation (U.S.
- Metabolon Inc. (U.S.)
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