Metabolism Assays Market is Expected to Reach $2.1 billion | MarketsandMarkets.
Chicago, Oct. 04, 2023 (GLOBE NEWSWIRE) — The metabolism assays industry is poised for remarkable growth in the near future, driven by advancements in biotechnology, personalized medicine, and drug development. With the increasing emphasis on understanding the metabolic processes within cells, tissues, and organisms, there is a growing demand for innovative assays that can provide detailed insights into metabolism. These assays are expected to play a pivotal role in drug discovery, toxicity screening, and the development of precision medicine approaches. As technology continues to evolve, we can anticipate the emergence of more sophisticated and high-throughput metabolism assays, enabling researchers and pharmaceutical companies to unlock new therapeutic targets and enhance our understanding of metabolic disorders, ultimately leading to improved healthcare outcomes.
Metabolism Assays market in terms of revenue was estimated to be worth $1.4 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 7.8% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The rising investments by pharmaceutical and biotechnology companies for drug metabolism studies and disease research and the use of metabolism assays for fitness and sports are the factors driving the growth of this market. However, the high cost of metabolism assay analyzers and the presence of alternative methods and techniques will restrain the market during the forecast period.
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Metabolism Assays Market Scope:
|Market Revenue in 2023||$1.4 billion|
|Estimated Value by 2028||$2.1 billion|
|Growth Rate||Poised to grow at a CAGR of 7.8%|
|Market Size Available for||2021–2028|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Technology, Application, and End User|
|Geographies Covered||North America, Europe, Asia Pacific, Rest of the World|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunities||Integration with wearable devices|
|Key Market Drivers||Increasing funding and investments in metabolic research|
Metabolism Assays market major players covered in the report, such as:
- Merck KGaA (Germany)
- Thermo Fisher (US)
- Abcam Plc. (UK)
- Agilent Technologies Inc. (US)
- Kaneka Eurogentec S.A. (Belgium)
- Sartorius AG (Germany)
- Promega Corporation (US)
- Elabscience Biotechnology Inc. (US)
- RayBiotech Life Inc. (US)
- BMG LABTECH (Germany)
- BIOTREND ChemiKalien GmbH (Germany)
- 3H Biomedical AB (Sweden)
- BioAssay Systems (US)
- EMELCA Bioscience (Netherlands)
- Creative Bioarray (US)
- Tempo Bioscience, Inc (US)
- Ncardia (Netherlands)
- NOVOCIB (France)
- Eton Bioscience Inc. (US)
- Cayman Chemical Company (US)
- Enzo Lifesciences, Inc. (US)
- Abnova Corporation (Taiwan)
- and Among Others
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This research report categorizes the Metabolism assays market into the following segments and subsegments:
- North America
- Asia Pacific
- Rest of the World
- Instruments & Analyzers
- Assay Kits & Reagents
- Technology Split
End User Split
- Diagnostics Laboratories
- Pharmaceutical & Biotechnology Companies and CROs & Academic Research Institutes
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The key stakeholders in the Metabolism Assays market include:
- Senior Management
- Finance/Procurement Department
- In 2022, Thermo Fisher Scientific, Inc. (US) collaborated with Symphogen (Denmark) and Servier (France) for biopharmaceutical discovery and development laboratories.
- In 2021, Abcam Plc. (UK) acquired BioVision (UK). This acquisition of BioVision represents a compelling strategic fit for Abcam. This will bring greater control over the innovation and distribution of BioVision’s product portfolio and create value through portfolio expansion and leveraging Abcam’s global channels to market.
- In 2021, Agilent Technologies Inc. (US) launched Agilent Seahorse XF HS Miniplate which is the latest addition to Agilent’s range of Seahorse XF platforms, which analyze mitochondrial respiration, glycolysis, and ATP production in live cells, in real-time.
Frequently Asked Questions (FAQs) of Metabolism Assays Market:
Question 1: What is the projected market value of the global Metabolism assays market?
Answer: The global market of Metabolism assays is projected to reach USD 2.1 Billion by 2028
Question 2: What is the estimated growth rate (CAGR) of the global Metabolism assays market for the next five years?
Answer: The global Metabolism assays market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.8% from 2023 to 2028.
Question 3: Which product segment of the Metabolism assays market witness the highest market share?
Answer: The assay kits & reagents segment is projected to observe the highest market share due to its growing use in diagnostics.
Question 4: What are the major revenue pockets in the Metabolism assays market currently?
Answer: Asia Pacific is expected to grow at the highest pace during the forecast period, primarily due to large patient pool in China, Japan, and India. Currently, China is considered a huge market due to the emerging local players.
Question 5: Who are the key players operating in the metabolism assays market, and what are the key growth strategies applied?
Answer: In 2022, the global Metabolism assays market was dominated by Merck KGaA (Germany), Thermo Fisher (US), Abcam Plc. (UK), and Agilent Technologies Inc. (US). The players adopted key strategies, such as collaborations, partnerships, acquisitions, expansions, and product launches, to increase their market penetration.
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- To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To define, describe, segment, and forecast the metabolism assays market by product, technology, application, end-user, and region
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall metabolism assay market
- To forecast the size of the metabolism assays market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific, Rest of the world.
- To profile key players in the metabolism assays market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as acquisitions; product launches; expansions; collaborations, agreements, & partnerships; and R&D activities of the leading players in the metabolism assays market.
- To benchmark players within the metabolism assays market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
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