North America Metabolomics Services Market Overview and Growth by 2028
North America Metabolomics Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service Type (Targeted Metabolomics Service and Untargeted Metabolomics Service) and Application (Pharmaceutical and Biotechnology Industry, Agritech, and Environment)
- Status : Published
- Report Code : TIPRE00026149
- Category : Life Sciences
- No. of Pages : 102
- Available Report Formats :
- Last update date : December 10, 2021
2021 Market Size
US$ 178.89 Mn
Base year value
2028 Forecast
US$ 685.85 Mn
Projected by 2028
CAGR 2022-2028
21.2 %
Growth rate
Addressable Market
US$ 2,906.19 Mn
(2022-2028)
The metabolomics services market in North America is expected to grow from US$ 178.89 million in 2021 to US$ 685.85 million by 2028; it is estimated to grow at a CAGR of 21.2% from 2021 to 2028.
Metabolomics is among the growing and robust technologies for detecting a wide range of metabolites in tissues and biofluids. This process has a significant application in the analysis and studies associated with cancer disease. The rising prevalence of different types of cancer is expected to drive the market during the forecast period. Cancer diagnostics play an essential role in cancer treatment. As per the data published by the World Health Organization (WHO) in September 2021, nearly 70% of deaths from cancer were reported from the low- and mid-income countries across the region. Therefore, rising incidences of cancer is expected to surge the demand of metabolomics services, thereby driving the market growth.In North America, countries such as the US has reported the highest numbers of COVID-19 cases. The pandemic has led to chaotic situation in the healthcare sectors, with excessively increased demand for diagnosing and therapeutic devices in the hospitals. For instance, demand for ventilators, respirators, and in vitro diagnostic (IVD) tests has risen drastically in across North American countries. The demand for personal protective kits has also gone up significantly. The FDA has increased its efforts to support the health of people and has rolled out several guidelines for hospitals and healthcare companies. Companies have also enhanced their research and development activities for diagnostics tests and therapeutic devices. For instance, Thermo Fisher Scientific, F. Hoffmann-La Roche AG, EverlyWell, and Abbott, among others, are ate the forefront of COVID-19 diagnosis kit production. Thermo Fisher Scientific has increased its production to be able to produce 5 million tests per week in April. Likewise, Abbott has received Emergency Use Authorization (EUA) for a point-of-care test that can provide results in minutes.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the metabolomics services market. The North America metabolomics services market is expected to grow at a good CAGR during the forecast period.
North America Metabolomics Services Market Revenue and Forecast to 2028 (US$ Million)
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North America Metabolomics Services Market Segmentation
North America Metabolomics Services Market – By Service Type
- Targeted Metabolomics Service
- Untargeted Metabolomics Service
North America Metabolomics Services Market – By Application
- Pharmaceutical and Biotechnology Industry
- Biomarker Discovery
- Drug Discovery
- Toxicological Testing
- Others
- Agritech
- Environment
North America Metabolomics Services Market- By Country
- US
- Canada
- Mexico
North America Metabolomics Services Market-Companies Mentioned
- BASF SE
- BGI
- biocrates life sciences ag
- Chenomx Inc.
- Creative Proteomics
- Fred Hutchinson Cancer Research Center
- Metabolon, Inc.
- Molecular You
- RTI International
- TMIC
- West Coast Metabolomics Center
North America Metabolomics Services Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 178.89 Million |
| Market Size by 2028 | US$ 685.85 Million |
| CAGR (2021 - 2028) | 21.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Service Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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