Targeted Metabolomics Service Segment to Dominate APAC Metabolomics Services Market during 2021–2028

According to a new market research study on “APAC Metabolomics Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Technology” is expected to reach US$ 438.91 million by 2028 from US$ 110.42 million in 2021. Development opportunities in several countries is the major factor driving the growth of the APAC metabolomics services market. However, issues associated with the high cost of tools, instruments, and usage hinder the growth of APAC metabolomics services market. The market is estimated to grow at a CAGR of 21.8% from 2021 to 2028. The report provides trends prevailing in the APAC metabolomics services market along with the drivers and restraints pertaining to the market growth.

The APAC metabolomics services market has been segmented based on service type, application, and country. On the basis of service type, the APAC 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 China, Japan, India, South Korea, Australia, and Rest of APAC.

As a result of the ongoing COVID-19 pandemic, the healthcare sector is under tremendous pressure. The containment and social distancing measures have led to disruption in supply chains. Moreover, the demand for efficient diagnostics and treatments of COVID-19 has gained huge paramount importance in Asia Pacific. India, China, Japan, and South Korea are among the countries in the region that are experiencing various adverse effects due to the pandemic, which include damaged socioeconomics, inflation, low GDPs, and unemployment surge. Countries such as China, Japan, Singapore, and South Korea engaged in rapid clinical trials. High costs of operations in western countries drive the flow of medical affairs outsourcing to Asia Pacific. To leverage these opportunities, pharmaceutical companies in this region gaining expertise on new and changing regulatory environments for drugs, devices, and in-vitro diagnostics. New or improved regulations are implemented frequently in Asia, including changes in GMP standards, drug price controls, and medical device regulatory systems. Third-party guidance and advice are required for any new standard acquisition or improvements. Increasingly, third-party outsourcing service providers are playing a more significant role in supporting the associated markets in Asia Pacific. As of 2021, the market has stabilized owing to control procedures, awareness among people, vaccine development and administration, and supportive government policies boosting business growth.

BASF SE, BGI, biocrates life sciences ag, C-CAMP, Chenomx Inc., Creative Proteomics, Fred Hutchinson Cancer Research Center, and RTI Internationalare among the leading companies in the APAC 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 2021, RTI International made an investment in Seven Bridges Genomics, the industry's top supplier of a bioinformatics ecosystem, to aid in scientific discovery and accelerate the journey from raw experimental data to innovative healthcare treatments and diagnostics.

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