NEWARK, Del, April 17, 2024 (GLOBE NEWSWIRE) — The global metabolism assay market is foreseen to witness a CAGR of 8.1% during the forecast period. The market is expected to rise from US$ 1.7 billion in 2024 to US$ 3.6 billion by 2034.
The escalating prevalence of metabolic disorders like diabetes, obesity, and cardiovascular diseases propels this expansion. Concurrently, the uptake of personalized medicine and targeted therapies, facilitated by metabolism assays offering individualized metabolic profiles, is amplifying market demand.
Advancements in metabolic genetics and pharmacogenomics are driving extensive research activities, thereby bolstering the adoption of metabolism assays across various healthcare sectors. The burgeoning market is also fueled by the expansion of metabolic drugs, necessitating rigorous metabolic screening for efficacy and safety assessment. Technological innovations, particularly in cellular metabolism assays, such as high-throughput screening and real-time monitoring.
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Increased investments in healthcare infrastructure and research facilities by developing and developed economies are creating a conducive environment for the expansion of metabolic testing capabilities. Expanding the biopharmaceutical industry and increasing investments in healthcare infrastructure are expected to fuel market growth in the coming years.
“Advancements in technologies like high-throughput screening and metabolomics are revolutionizing metabolic profiling, offering robust tools for drug discovery and development. The expanding biopharmaceutical industry and rising investments in healthcare infrastructure are expected to fuel market growth in the coming years,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Metabolism Assay Market Study
- Sales of assay kits and reagents are increasing at a 7.8 % CAGR through 2034.
- Hospitals as end users are rising in the metabolism assay market at a 7.6% CAGR from 2024 to 2034.
- The metabolism assay market in South Korea has the potential to increase at a CAGR of 10.0% through 2034.
- The metabolism assay market in Japan is projected to inflate at a CAGR of 9.9% through 2034.
- The metabolism assay market in the United Kingdom is predicted to rise at a 9.2% CAGR through 2034.
- The metabolism assay market in China is anticipated to develop at a CAGR of 8.9% through 2034.
- The metabolism assay market in the United States is estimated to rise at an 8.4% CAGR through 2034.
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Competitive Landscape from the Metabolism Assay Market
Major companies such as Thermo Fisher Scientific, Merck KGaA, Agilent Technologies, Danaher Corporation, and PerkinElmer are actively expanding the metabolism assay market by investing in research and development to enhance assay accuracy, sensitivity, and throughput. Strategic collaborations with academic institutions and pharmaceutical companies are upsurging the market growth by facilitating the development of novel assays tailored to specific metabolic pathways and drug targets.
Recent Developments in the Metabolism Assay Market
- Genefitletics launched ORAHYG, an at-home oral microbiome functional activity test in New Delhi, on Nov 27, 2023.
- Cipla launched Cippoint, a point-of-care testing device, on Jan 18, 2023, which caters to various testing parameters.
- CN Bio extended its services on Nov 06, 2020, offering drug metabolism and safety toxicity testing using predictive 3D Liver-on-Chip technology.
Top 5 Key Companies in the Metabolism Assay Market
- Merck KGaA
- Thermo Fisher Scientific, Inc.
- Abcam Plc
- Agilent Technologies, Inc.
- Promega Corporation
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Metabolism Assay Market Segmentation
By Product Type:
- Assay Kits and Reagents
- Instruments and Analyzers
By Instruments and Analyzers:
- Diagnostics
- Diabetes
- Obesity
- Cancer
- Cardiovascular Diseases
- Other diagnostic applications
- Research
By Technology:
- Colorimetry
- Fluorimetry
- Spectrometry
By End User:
- Hospitals
- Diagnostic Laboratories
- Pharmaceutical & Biopharmaceutical Companies
- Other End-Users
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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- The global market for cytotoxicity assays is projected to register a Y-o-Y increase of 8.4% in 2022 to be valued at US$ 13,803.92 Million. As of 2021, cytotoxicity assays demand was valued at US$ 12,732.37 Million. During the 2022-2032
- The glycated albumin assay market is anticipated to reach US$ 223.9 million in 2024. The glycated albumin assay market is expected to expand at a CAGR of 8.4% from 2024 to 2034.
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