Market Introduction
Asia Pacific (APAC) is the fastest-growing regional market for metabolomics services; and China, India, Japan, South Korea, Australia, and Rest of APAC are the major contributors to the market in this region. Asia Pacific is likely to account for over 25.68% market share of the global metabolomics services market in 2021 owing to the growing investments from international players in China and India, improving government support in countries, expanding base of CRO services, and advancing healthcare infrastructure. Therefore, the region holds huge potential for the metabolomics services market players to grow during the forecast period. The Japanese healthcare industry is witnessing massive developments and financial aids to accelerate its adoption and acceptance of cell therapy-based products. The government focuses on developing laws and policies to bolster the innovations and discoveries in novel diagnostics and therapeutics such as regenerative medicine. The country has the presence of contract research organizations which in turn is expected to support the market growth. The players in the related markets are actively investing in Japan. Development opportunities in several countries is the major factor driving the growth of the APAC metabolomics services market.
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.
Market Overview and Dynamics
The metabolomics services market in APAC is expected to grow from US$ 110.42 million in 2021 to US$ 438.91 million by 2028; it is estimated to grow at a CAGR of 21.8% 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.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on metabolomics services market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BASF SE, BGI, biocrates life sciences ag, C-CAMP, Chenomx Inc., Creative Proteomics, Fred Hutchinson Cancer Research Center, and RTI International are among others.
Reasons to buy report
APAC Metabolomics Services Market Segmentation
APAC Metabolomics Services Market –By Service Type
APAC Metabolomics Services Market –By Application
APAC Metabolomics Services Market -By Country
APAC Metabolomics Services Market -Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 110.42 Million |
| Market Size by 2028 | US$ 438.91 Million |
| CAGR (2021 - 2028) | 21.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Service Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Metabolomics Services Market is valued at US$ 110.42 Million in 2021, it is projected to reach US$ 438.91 Million by 2028.
As per our report Asia Pacific Metabolomics Services Market, the market size is valued at US$ 110.42 Million in 2021, projecting it to reach US$ 438.91 Million by 2028. This translates to a CAGR of approximately 21.8% during the forecast period.
The Asia Pacific Metabolomics Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Metabolomics Services Market report:
The Asia Pacific Metabolomics Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Metabolomics Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Metabolomics Services Market value chain can benefit from the information contained in a comprehensive market report.
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