Pharmaceutical and Biotechnology Industry Segment is Expected to be the Fastest Growing During the Forecast Period for SAM Region
According to The Insight Partners market research study on “SAM Metabolomics Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Technology” is expected to reach US$ 123.94 million by 2028 from US$ 36.89 million in 2021. Rising incidences of cancer is the major factor driving the growth of the SAM metabolomics services market. However, issues associated with the high expenditure of tools, instruments, and usage hinder the growth of SAM metabolomics services market. The market is estimated to grow at a CAGR of 18.9% from 2021 to 2028. The report provides trends prevailing in the SAM metabolomics services market along with the drivers and restraints pertaining to the market growth.
The SAM metabolomics services market has been segmented based on service type, application, and country. On the basis of service type, the SAM metabolomics services market is segmented into targeted metabolomics service and untargeted metabolomics service. The targeted metabolomics service segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into pharmaceutical and biotechnology industry, agritech, and environment. The pharmaceutical and biotechnology industry segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Likewise, the pharmaceutical and biotechnology industry segmented is categorized into biomarker discovery, drug discovery, toxicological testing, and others .Based on country, the metabolomics services market is classified into Brazil, Argentina, and Rest of SAM.
South American countries are famous for medical tourism. However, the COVID-19 pandemic has adversely affected medical services in the region. Brazil, Argentina, Uruguay, Chile, Peru, and Colombia are the majorly affected countries amid the second wave of the pandemic. According to Worldometer, as of September 2021, Brazil has reported 558,597 casualties and 21 million new cases; moreover, there were 5.2 million new cases in Argentina. Countries in the region are likely to implement another lockdown amid the infection spread, involving new variants.
BASF SE, biocrates life sciences ag, Creative Proteomics, Fred Hutchinson Cancer Research Center, and RTI International are among the leading companies in the SAM metabolomics services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Creative Proteomics, an integrated contract research organisation (CRO) that offers a comprehensive spectrum of drug development services, has announced the debut of its fully developed untargeted metabolomics services to researchers.
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