The metabolism assay market is predicted to be valued at USD 1.7 billion in 2024 and rise to USD 3.6 billion by 2034. The market is predicted to grow at a CAGR of 8.1% during the forecast period.
Attributes | Key Statistics |
---|---|
Metabolism Assay Value (2024) | USD 1.7 billion |
Anticipated Market Value (2034) | USD 3.6 billion |
Estimated Growth (2024 to 2034) | 8.1 % CAGR |
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Metabolic engineering, being the primary application in biological research, is stimulating a rise in the metabolism assay market. Some factors driving market growth are mentioned below.
Despite the healthy growth of the metabolism assay market with heavy demand in biological research, several factors are slowing down the market. Some of them are as follows:
The demand for assay kits and reagents is upsurging at a 7.8 % CAGR through 2034.
Attributes | Details |
---|---|
Product Type | Assays Kits and Reagents |
CAGR ( 2024 to 2034) | 7.8% |
Based on end users, hospitals are uprising in the global metabolism assay market with a 7.6% CAGR from 2024 to 2034.
Attributes | Details |
---|---|
Top End User | Hospitals |
CAGR (2024 to 2034) | 7.6 % |
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The section analyzes the global metabolism assay market by country, including the United Kingdom, the United States, China, South Korea, and Japan.
The table presents the CAGR for each country, indicating the expected market growth through 2034.
Countries | CAGR through 2034 |
---|---|
South Korea | 10.0% |
Japan | 9.9% |
United Kingdom | 9.2% |
China | 8.9% |
United States | 8.4% |
With growing demand for personalized medicine and advancements in precision healthcare, South Korea is well-positioned in expanding global metabolism assay market with a CAGR of 10.0% from 2024 to 2034.
Korea Institute of Science and Technology (KIST) and the Korea Advanced Institute of Science and Technology (KAIST)institutions are highly active in metabolic research and are constantly pushing the boundaries of innovation in the field.
South Korea also has a thriving startup ecosystem, with companies like SeouLin Bioscience and Green Cross LabCell pioneering metabolic research and developing novel assays for drug discovery and personalized medicine applications. This vibrant ecosystem fosters collaboration between academia and industry driving South Korea's metabolism assay market growth.
With a skilled workforce and a culture of innovation, Japan is well-positioned to continue its expansion in the global metabolism assay market at a CAGR of 9.9% through 2034.
Due to the ongoing research initiatives in metabolic genetics and pharmacogenomics, demand for advanced assay technologies is on the rise. Several major companies, such as Shimadzu Corporation, Hitachi Chemical Co., Ltd., and Kyowa Medex Co., Ltd., are actively competing in this space by offering innovative assay kits and reagents tailored to the specific needs of Japanese researchers and clinicians.
Collaborations between government agencies and industry players have resulted in a dynamic ecosystem for research and development, thereby accelerating the introduction of novel assays and technologies into the market.
The United Kingdom is upheading the global metabolism assay market with innovative research and advanced bioinformatics tools. With a projected CAGR of 9.2% through 2034, it is maintaining a steady pace of growth.
The presence of leading pharmaceuticals and biotechnology companies in the United Kingdom caters to high demand for drug development. The major players in the United Kingdom metabolism assay market who offer a wide range of assay kits, reagents, and platforms.
The market is highly competitive, with both established companies and emerging startups driving innovation and expanding market offerings to meet the diverse needs of researchers and healthcare professionals both within the United Kingdom and beyond.
China is emerging as a key player in the market. China, with a CAGR of 8.9% from 2024 to 2034, is in steady race for betterment in the healthcare sector.China's flourishing biotechnology and pharmaceutical sectors are propelling the demand for metabolism assays as scientists and firms seek reliable tools to aid in the drug discovery and development processes.
The rising prevalence of metabolic disorders in China's population also underscores the need for advanced diagnostic tools. Collaborations between domestic Chinese biotech companies and international players are facilitating technology transfer and knowledge exchange.
Ongoing advancement and research fuel market growth in the United States, with an expected CAGR of 8.4%, which is expected to persist until 2034.The United States healthcare infrastructure and research ecosystem are robust and foster innovation, with leading academic institutions, pharmaceutical companies, and diagnostic laboratories contributing to the need for metabolism assays.
The rising prevalence of metabolic disorders such as obesity and diabetes, coupled with a growing emphasis on personalized medicine, aids in the adoption of metabolism assays for diagnostic and therapeutic purposes. The United States leads in technological advancements and investments in metabolic research, facilitating the development of advanced assay kits and reagents tailored to researchers' and clinicians' specific needs.
Leading companies such as Thermo Fisher Scientific, Merck KGaA, and Agilent Technologies are constantly innovating and expanding their product portfolios to stay ahead of the competition.
Thermo Fisher Scientific, for example, is focused on developing advanced metabolic profiling solutions; Merck KGaA invests heavily in research and development to introduce new assay kits and reagents for metabolic pathway analysis; Agilent Technologies, on the other hand, is emphasizing strategic collaborations and acquisitions to broaden its metabolic assay offerings and enhance its market position.
Competitors such as Bio-Rad Laboratories and PerkinElmer are also using similar tactics to sustain their foothold in the metabolism assay market.
Recent Developments
The metabolism assay market is projected to be worth USD 1.7 billion in 2024.
The metabolism assay market is expected to reach USD 3.6 billion by 2034.
The metabolism assay market is expected to rise at a CAGR of 8.1% from 2024 to 2034.
The overall value of the metabolism assay market for 2019 was 1.0 billion.
Merck KGaA, Thermo Fisher Scientific, Inc., Abcam Plc, Agilent Technologies, Inc., and Promega Corporation are among the major companies actively contributing to the growth of the global metabolism assay market.
Market Value (2023) | USD 2,616.1 million |
---|---|
Expected Forecast Value (2033) | USD 5,303.1 million |
Projected CAGR (2023 to 2033) | 7.3% |
Market Value (2023) | USD 451.0 Million |
---|---|
Market Value (2033) | USD 690.8 Million |
CAGR (2023 to 2033) | 4.4% |
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