The metabolism assays market is projected to reach USD 2.1 billion by 2028 from USD 1.4 billion in 2023, at a CAGR of 7.8%
This research report categorizes the Metabolism Assays Market by product, technology, application, end-user, and region. The report's scope encompasses comprehensive information on the major factors, including drivers, restraints, challenges, and opportunities, that exert an influence on the growth of the Metabolism Assays Market.
The market's growth is primarily propelled by government support and funding for metabolic research, the increasing utilization of metabolism assays in the fitness and sports industry, and the rising awareness of the importance of early diagnosis. Nevertheless, concerns related to the high cost of metabolism assays act as a hindrance to market growth.
North America is expected to hold a significant market share due to the presence of robust pharmaceutical and biotechnology industries engaged in drug discovery, toxicity testing, and development. Moreover, the region benefits from a growing population afflicted with target diseases, further supporting the expansion of the metabolism assays market. Conversely, Asia Pacific is projected to register the highest Compound Annual Growth Rate (CAGR) during the forecast period.
A thorough analysis of key industry players is conducted to provide insights into their business profiles, solutions, services, key strategies, contracts, partnerships, and agreements. Additionally, the report covers aspects such as new product and service launches, mergers and acquisitions, and recent developments within the metabolism assays market. Competitive analysis of emerging startups within the metabolism assays market ecosystem is also included.
Furthermore, the report offers an in-depth evaluation of market ranking, growth strategies, and service offerings of prominent players, including Merck KGaA (Germany), Thermo Fisher (US), Abcam Plc. (UK), and Agilent Technologies Inc. (US), among others, in the metabolism assays market.
The assay kits & reagents segment accounted for the highest market share in the metabolism assays market, by product, during the forecast period
Based on the product segment, the metabolism assays market is classified into instruments & analyzers and assay kits & reagents. In 2022, the assay kits & reagents segment dominated the products market.
This segment is also estimated to grow at the highest CAGR during the forecast period. The large share is due to their integration with technologies, such as wearable devices and wide use in diagnostics as it is the major application.
Pharmaceutical & Biotechnology Companies and CROs & Academic Research Institutes accounted for the highest CAGR during the forecast period
Based on end users, the metabolism assays market is segmented into hospitals, diagnostic laboratories, and pharmaceutical & biotechnology companies and CROs & academic research institutes. The pharmaceutical & biotechnology companies and CROs & academic research institutes segment dominated the metabolism assays market in 2022.
The diagnostic laboratories segment is expected to grow at the highest CAGR during the forecast period. The large share of this segment can be attributed to increasing R&D investments by pharmaceutical & biotechnology companies on metabolic research.
Key Attributes:
Report Attribute
Details
No. of Pages
188
Forecast Period
2023 - 2028
Estimated Market Value (USD) in 2023
$1.4 Billion
Forecasted Market Value (USD) by 2028
$2.1 Billion
Compound Annual Growth Rate
7.8%
Regions Covered
Global
Premium Insights
Increased Prevalence of Obesity and Diabetes to Drive Metabolism Assays Industry
Assay Kits & Reagents Accounted for Largest Share in 2022
Germany to Register Highest Growth Rate During Forecast Period
Asia-Pacific Market to Witness Fastest Growth During Forecast Period
Developing Economies to Register Higher Growth During Forecast Period
Market Dynamics
Drivers
Increasing Funding and Investments in Metabolic Research
Drug Discovery and Development
Rise in Prevalence of Chronic Diseases
Increased Use of Metabolism Assays in Fitness and Sports
Growing Demand for Personalized Medicines
Restraints
High Cost of Metabolism Assay Analyzers
Presence of Alternative Methods and Techniques
Opportunities
Integration with Wearable Devices
Growing Life Science Research in Emerging Economies
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