Metabolism Assays Market worth $2.1 billion by 2028 | MarketsandMarkets
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 new report by MarketsandMarkets™. The growth of this market is majorly driven by rising initiatives by government to promote metabolic & disease research, innovation in metabolism assays technology by integrating with wearable devices, increase in prevalence of metabolic disorders such as diabetes and obesity, and adoption of metabolism assays by fitness and sports industries.
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Assay Kits and reagents segment is expected to account for the larger share in 2022.
The metabolism assay market, by product, has been segmented into instruments & analyzers and assay kits & reagents. In 2022, the assay kits & reagents dominated the products market and are also estimated to grow at the highest CAGR during the forecast period. The large share is due to the recurrence of assay kits & reagents and easy availability.
The diagnostic segment held the largest market share in the metabolism assay market.
By application, the global metabolism assay market is broadly segmented into diagnostics and research. The diagnostics segment accounted for the larger share of the market in 2022. The diagnostics segment is also estimated to grow at the highest CAGR during the forecast period. The large share of this segment can be attributed to various factors, such as the growing number of obese population and the growing number of hospitals which are important end users for metabolism assays.
North America dominates the global metabolism assay market.
Based on the region, the metabolism assay market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North American market is driven by well-established pharmaceutical and biotechnology industry, investments around drug discovery and toxicity testing. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. The presence of a large population base coupled with large patient population and increasing rate of obesity are some of the major factors driving the growth of this regional market.
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Metabolism Assays Market Dynamics:
Drivers:
1. Increasing funding and investments in metabolic research
Restraints:
1. High cost of metabolism assay analyzers
Opportunities:
1. Integration with wearable devices
Challenge:
1. Complexity of assay development
Key Market Players:
Major players in metabolism assays market include Merck KGaA (Germany), Thermo Fisher (US), Abcam Plc. (UK), Agilent Technologies Inc. (US), and Kaneka Eurogentec S.A. (Belgium).
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