Biomarkers and Drug Discovery to Drive Global Market for Metabolomics to reach $2.5 billion by 2020
Industry Experts has released the new market research report on metabolomics. The new global report ‘ Metabolomics: Technologies and Applications - A Global Market Overview ’ reveals that the global market for metabolomics is projected to touch US$2.5 billion from an estimated US$704 million in 2014, reflecting a robust 2014-2020 CAGR of 23.7%. In terms of metabolomics market by Therapeutic area, Oncology is expected to touch US4350 million mark in 2015 and maintain the largest disease area through to 2020. Large pharma companies have yet to take on a full-blown adoption of metabolomic technologies, when compared to proteomic and genomic research. This is because of the lingering uncertainties as to the advantages offered by metabolomics that have been the outcome of failed proteomics and genomics research programs. Through some recent accomplishments have been able to dispel some of these doubts, wider adoption and acceptance of metabolomics would necessitate additional landmark succ