Global Metabolism Assays Market Forecast to Reach $2.5 Billion by 2030: Focus on Spectrometry Technology and Diagnostic Applications
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Global Metabolism Assays Market Size, Share & Industry Trends Analysis, 2023-2030" report has been added to * ResearchAndMarkets.com's* offering.
The global metabolism assays market is projecting significant growth, with an expected ascent to $2.5 billion by the year 2030, propelled by a robust Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period. This industry analysis highlights the pivotal role of spectrometry technology in this market surge, showcasing a remarkable revenue of $327.3 million in 2022 within this segment.
Among various technologies, spectrometry has been identified as a critical tool for the quantification and characterization of metabolites, contributing significantly to the expansion of the market. Its high sensitivity and specificity are invaluable in a wide range of applications, from basic research to the pursuit of new therapeutic compounds and drug development.
Increased investments and funding in metabolic research, coupled with the escalating prevalence of chronic diseases, are core factors propelling the market forward. However, the high cost associated with metabolism assay analyzers presents a formidable challenge potentially inhibiting widespread adoption.
*Diagnostic Applications Dominate Market Revenue*
The diagnostics segment continues to command the largest revenue share within the market, with metabolism assays deemed essential for the detection and monitoring of metabolic disorders. These tools are increasingly vital in the management of diabetes mellitus and other chronic conditions, which require precise and continuous monitoring for effective treatment.
*Technological Innovations Enhance Market Dynamics*
By technology, the market is segmented into colorimetry, fluorimetry, and spectrometry. Fluorimetry technology, known for its efficacy in measuring metabolic parameters, has been acknowledged with a substantial revenue share in 2022 due to its broad spectrum of applications.
*Product and End User Insights Reflect Market Trends*
Analyzed by product, the market is segmented into instruments & analyzers and assay kits & reagents, with the former capturing a generous revenue share due to their critical role in metabolic research and diagnostics. The end user segment is classified into hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, and CROs & academic research institutes. Hospitals have emerged as the segment yielding the largest revenue, given their integral use of metabolism assays for patient care and treatment.
*Regional Market Analysis Reveals North America's Dominance*
On a regional basis, North America leads the market in revenue generation, with further growth anticipated due to the advancement of healthcare systems and an increased emphasis on early diagnosis and personalized medicine. This regional dominance underscores North America's commitment to integrating metabolism assays into healthcare strategies extensively.
Key players in the market, based on the report's analysis, span across various segments, indicating a diverse and competitive landscape. These entities are recognized for leveraging strategic initiatives such as collaborations, acquisitions, and technological innovations to solidify their presence and adapt to the ever-evolving market demands.
*Companies Featured*
· Merck KGaA
· Thermo Fisher Scientific, Inc.
· Abcam PLC
· Agilent Technologies, Inc.
· Promega Corporation
· Kaneka Eurogentec SA (Kaneka Corporation)
· RayBiotech Life, Inc.
· Sartorius AG
· Elabscience Biotechnology Inc.
· BMG Labtech GmbH
For more information about this report visit https://www.researchandmarkets.com/r/gj7k69
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