Report : 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)

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

According to a new market research study on “North America Metabolomics Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and Technology” is expected to reach US$ 685.85 million by 2028 from US$ 178.89 million in 2021. Rising incidences of cancer is the major factor driving the growth of the North America metabolomics services market. However, issues associated with the high price of tools, instruments, and usage hinder the growth of North America metabolomics services market. The market is estimated to grow at a CAGR of 21.2% from 2021 to 2028. The report provides trends prevailing in the North America metabolomics services market along with the drivers and restraints pertaining to the market growth.

The North America metabolomics services market has been segmented based on service type, application, and country. On the basis of service type, the North America 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 US, Canada, and Mexico.

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.

BASF SE; BGI; biocrates life sciences ag; Chenomx Inc.; Creative Proteomics; Fred Hutchinson Cancer Research Center; Metabolon, Inc.; Molecular You; RTI International; TMIC; and West Coast Metabolomics Center are among the leading companies in the North America 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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