Report : Middle East and Africa 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)
Targeted Metabolomics Service Segment is Expected to be the Fastest Growing During the Forecast Period for MEA Region
According to a new market research study on “MEA Metabolomics Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Technology” is expected to reach US$ 162.41 million by 2028 from US$ 46.31 million in 2021. Use of artificial intelligence (AI) and biomarkers in biomarker-related analysis and personalized therapy is the major factor driving the growth of the MEA metabolomics services market. However, issues associated with the high cost of tools, instruments, and usage hinder the growth of MEA metabolomics services market. The market is estimated to grow at a CAGR of 19.6% from 2021 to 2028. The report provides trends prevailing in the MEA metabolomics services market along with the drivers and restraints pertaining to the market growth.
The MEA metabolomics services market has been segmented based on service type, application, and country. On the basis of service type, the MEA 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 Saudi Arabia, South Africa, UAE, and Rest of MEA.
As per the Worldometer, as of September 2021, South Africa reported 2,787,203 COVID-19 cases; the case count of Saudi Arabia and the UAE had reached 544,634 and 719,355, respectively. Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflicts and are not capable of implementing robust public health measures. Iran was in deep economic recession due to the US sanctions. The major source of economic stabilization in Middle East countries is oil production and export. However, a sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage have affected the economic growth of these oil-based economies. The spread of SARS-CoV-2 has led to heavy burden on healthcare professionals in the MEA. Cardiac surgeons are overloaded with emergency cardiac surgeries, management of COVID patients, and implementation of safety guidelines to prevent the spread of virus, which have led them to deprioritize elective surgeries. Thus, the overburdening of the healthcare sector is hampering the performance of the Middle East and Africa metabolomics services market.
BASF SE, biocrates life sciences ag, Creative Proteomics, Fred Hutchinson Cancer Research Center, and RTI International are among the leading companies in the MEA 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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