The omics lab services market was valued at US$98.842 billion in 2022 and is expected to grow at a CAGR of 15.17% during the forecast period.
A biological science branch of study that ends in -omics, such as genomics, transcriptomics, proteomics, or metabolomics, is referred to as an omics. Genomic research focuses on characterizing and quantifying genes, which regulate the creation of proteins with the aid of enzymes and messenger molecules, and explores the structure, function, evolution, and mapping of genomes. In addition to the chemical identities, it also contains the quantity or concentration of each RNA molecule.
Complex interactions at the genomic, transcriptional, proteomic, and metabolic levels play a role in the etiology of cancer. The comprehension of the intricate biology of tumors, including immune evasion, tumor development, tumor heterogeneity, the tumor microenvironment, and treatment resistance, has considerably increased as a result of integrative multi-omics analysis. Since they provide an unprecedented chance to describe cancer biology at several pathological and molecular levels, omics technologies have the potential to be extremely beneficial to cancer research. Pooling data from several omics is an essential first step to understanding the mechanisms behind oncogenesis. With high-throughput technology advancements, a variety of omics methods, including genomes, epigenomics, transcriptomics, proteomics, and metabolomics, are accessible to analyze diverse yet complementary biological layers.
Case-based studies are being replaced with extensive, data-driven research due to the rapidly expanding field of big data in health care. Big data applications' future development has predictable potential in the present healthcare revolution since big data is dependent on the development of new data standards, technology, and related research. The processing and interpretation of very vast, quickly expanding sets of biological omics data (genomics, proteomics, transcriptomics, metabolomics, glycomics, etc.) and clinical data provide significant obstacles as well as possibilities, and they also bring up new computational gateways to solve these problems.
Throughout the projection period, the epigenetics category is anticipated to develop at the fastest rate. Businesses providing omics lab services are focusing on diversifying their product and service offerings to appeal to the omics lab services market. For instance, in January 2022, Eisbach Bio GmbH and the University of Texas MD Anderson Cancer Centre launched a strategic research partnership to collaboratively identify and create precision oncology therapies that target synthetic lethal engines crucial to tumor genome evolution. Through this partnership, Eisbach and MD Anderson's Therapeutics Discovery division will combine their cutting-edge discovery platforms and allosteric assay technologies to develop drugs that specifically disrupt genome replication and DNA repair in cancers carrying specific genetic alterations.
The higher usage of transcriptomics for single-cell transcriptomics analysis compared to the genomics sector accounts for the omics lab services market expansion. Automated sequencing methods like the laser capture microdissection technique (LCM) have been able to meet the demand for nucleic acid sequencing of biological materials, which has fueled the growth of the spatial genomics industry. The development of cutting-edge sequencing technologies to save genetic or geographical data for later use has also been inspired by a deeper knowledge of tissue heterogeneity. It is projected that this element would stimulate the omics lab services market expansion throughout the anticipated period.
According to the Australian Government, research in genetic medicine is receiving $500.1 million from the Genomics Health Futures Mission. The science of genomics has the potential to revolutionize clinical medicine. To show how genetics and associated technologies assist patients and the healthcare system, the Genetics Health Futures Mission will expand on already completed research. Opportunities to customize and improve illness management will grow as genomics usage becomes more pervasive. The Department of Biotechnology (DBT) launched the ambitious "Genome India Project" (GIP) on January 3rd, 2020, drawing inspiration from the Human Genome Project. To create a reference genome, the GIP seeks to gather 10,000 genetic samples from Indian residents throughout the country.
Omics lab services market expansion in North America is anticipated to be fueled by the growing demand for genetic testing in clinical studies, including personalized healthcare for diseases like diabetes and cancer. For instance, according to the Centers for Disease Control and Prevention, using incidence data from central cancer registries and mortality data from the National Centre for Health Statistics, the American Cancer Society estimates the number of new cancer cases and deaths in the United States each year and compiles the most recent information on population-based cancer occurrence and outcomes. In 2023, there will likely be 609,820 cancer-related fatalities and 1,958,310 new cases of cancer in the United States.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$98.842 billion |
| Growth Rate | CAGR of 15.17% from 2022 to 2029 |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered | |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Omics Lab Services Market Segmentation: