The metabolomics services market is expected to reach US$ 1,895.14 million by 2028 from US$ 501.24 million in 2021; it is estimated to grow at a CAGR of 20.9% during 2021-2028.

The emerging markets in regions such as the Middle East, Africa, and Asia Pacific are creating significant opportunities for the key market players to expand their businesses. The majority of players concentrate on developing markets, such as India and China, owing to the huge populations, including a large number of people suffering from chronic diseases. With the rising production costs, healthcare companies are striving to produce sufficient revenues to meet the demands of their investors.

Consumer expectations from diagnostic processes are growing with advancements in biotechnology. Moreover, these developments are encouraging the introduction of more analytical systems and facilitating the shift toward personalized medicine. Infectious disease testing, molecular oncology, and pharmacogenomics are among the high-potential segments in emerging countries. Various players in the industry have been investing significant shares of their revenues in R&D activities to develop better and advanced products and technologies for the healthcare sector. The Asia Pacific metabolomics services market is expected to grow at the fastest CAGR during the forecast period due to the presence of significant biopharmaceutical companies in countries such as Japan and the growing number of local companies in countries such as China and India. Further, the growing prevalence of cancer and other chronic diseases is likely to boost the market growth in the coming years.

The global metabolomics services market, based on service type, has been segmented into targeted metabolomics service, and untargeted metabolomics service. The targeted metabolomics service segment is likely to hold the largest share of the market in 2021. Moreover, the targeted metabolomics service segment is anticipated to register the highest CAGR in the market during the forecast period, due to their incumbent usage, high volume consumption, and product innovation.

The global metabolomics services market, based on application is segmented into pharmaceutical and biotechnology industry, agritech, environment. In 2021, the pharmaceutical and biotechnology industry segment is likely to hold the largest share of the market. Moreover, the segment is also expected to witness growth in its demand at a fastest CAGR of 21.6% during 2021 to 2028, owing to the rise in the detection and diagnosis of various medical conditions across the globe.

National Heart, Lung, and Blood Institute (NHLBI); National Institutes of Health (NIH); National Healthcare Service (NHS); Centers for Disease Control and Prevention (CDC); National Chronic Kidney Disease; National Center for Biotechnology Information; National Institute of Diabetes and Digestive and Kidney Diseases; United Nations (UN) Global Population Prospects; National Statistics Institute; and World Health Organization (WHO) are among the major secondary sources referred to while preparing the report on the metabolomics services market.