Metabolic Services Market Size ($1,895.14 Million by 2028) Led by Targeted Metabolic Service (20.9% CAGR) Impact of the Coronavirus Outbreak, Global Analysis and Forecasting by TheInsightPartners.com

The metabolic services market size is expected to reach US$1,895.14 million by 2028 from US$501.24 million in 2021 growing at a compound annual growth rate of 20.9% from 2021 to 2028.

NEW YORK, Oct 27, 2021 (The Globe Newswire) – Metabolic Services Market: Key Insights
According to our new research study on “metabolic services market Size and Forecast to 2028 – Impact of COVID-19, Global Analysis by Service Type (Target Metabolic Service and Non-Target Metabolism Service) and Application (Pharmaceutical Industry, Biotechnology, Agritech, Environment), “The market is expected to reach US$1,895.14 million by 2028 from US$501.24 Million in 2021;It is expected to grow at a CAGR of 20.9% from 2021 to 2028.The market growth is mainly due to higher incidence of cancer, increased metabolic dependence and investments by market players.However. , the high costs of tools and instruments, and their operations constrain the growth of the metabolic services market.

Metabolic Services Market: Competition Landscape and Key Developments
BASF SE, TMIC, Creative Proteomics, BGI, RTI International and Afekta Technologies Ltd. The Fred Hutchinson Cancer Research Center and West Coast Metabolomics Center are among the major companies operating in the metabolic services market. Leading market players focus on new product launches, expansion, diversification and acquisition strategies, thus taking advantage of the prevailing business opportunities.

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North America dominates the global metabolic services market. The United States is expected to capture the largest market share in this region in 2021. Increased adoption of advanced technologies and increased R&D activities are contributing to the advancement of the metabolic services market in North America. A well-established and large healthcare sector supports the spread in this region.

The COVID-19 pandemic has disrupted the social and economic conditions of various countries in the world. In North America, the United States has recorded the highest number of COVID-19 cases. The pandemic has led to chaos in healthcare sectors around the world, with a huge increase in demand for diagnostic and treatment devices in hospitals. The demand for ventilators, ventilators, personal protection kits, and in vitro diagnostic (IVD) tests has skyrocketed in hospitals. The US Food and Drug Administration (FDA) has increased its efforts to support people’s health; It has imposed several guidelines for hospitals and medical device companies. Companies such as Thermo Fisher Scientific, F. Hoffmann-La Roche AG, EverlyWell and Abbott produce COVID-19 diagnostic test kits. Similarly, Abbott has received an Emergency Use Authorization (EUA) to perform a point-of-care test that can provide results within minutes.

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Rising Incidence of Cancer Engines Growth of Metabolic Services Market:
Metabolic studies help discover a wide range of metabolites in vital tissues and fluids. These techniques have important application in the diagnosis and analyzes of cancer diseases. The increasing prevalence of different types of cancer is expected to drive the market during the forecast period. According to data published by the World Health Organization (WHO) in September 2021, 70% of deaths from cancer are reported in low- and middle-income countries. According to the records of the World Cancer Observatory, the incidence of various types of cancer is as follows: breast cancer – 11.7% (2.26 million cases), lung cancer 11.4% (2.21 million cases), colorectal cancer 10% (1.93 million cases). Prostate cancer was 7.3% (1.41 million cases) and stomach cancer was 5.6% (1.09 million cases). Here are the details regarding the spread of cancer in the region in 2020:

Area

new cancer cases

North Amarica

2,556,862

Europe

4,398,443

Africa

1,109,209

Asia

9,503,710

Source: Globocan 2020 and Insight partner analysis

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Metabolic Services Market: Segment Overview
The global metabolic services market has been segmented, based on service type, into targeted metabolic service and non-target metabolic service. The target metabolic services segment is likely to hold a larger market share in 2021. Moreover, the target metabolic services segment is expected to register a higher CAGR in the market during the forecast period.

The global metabolic services market, based on application, is segmented into pharmaceutical and biotechnology industry, agricultural technology, and environment. The pharmaceutical and biotechnology industry segment is expected to occupy the largest share of the market in 2021. It is also expected to register a higher compound annual growth rate of 21.6% in the market during the period 2021-2028.

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Key Questions for the Metabolic Services Market Demand:

  • What are metabolic services?

  • What are the driving factors of the global Metabolic Services market?

  • What will the CAGR of the Metabolic Services market be?

  • Which region held the highest share in 2021 in the global metabolic services market?

  • Who are the major players in the Metabolic Services market?

  • Which segment of the metabolic services market offers the most growth opportunity?

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Insight Partners is a single provider of industry research for action intelligence. We assist our clients in obtaining solutions to their research requirements through joint research and advisory services. We specialize in industries such as semiconductors and electronics, aerospace and defense, automotive and transportation, biotechnology, healthcare information technology, manufacturing and construction, medical devices, technology, media and communications, and chemicals and materials.

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