The global omics lab services market size is expected to reach USD 245.69 billion by 2032, according to a new study by Polaris market research. The report “Omics Lab Services Market Share, Size, Trends, Industry Analysis Report, By Services (Genomics, Proteomic, Transcriptomic, Metabolomics, Epigenetics); By Business; By Product; By End Use; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growing genomics data integration into clinical workflow and increasing consumer adoption of direct-to-consumer omics are credited with the market’s growth. Omics labs have emerged as an important tool for the prognosis, diagnosis, and treatment of a wide range of diseases; however, a lack of experienced personnel who can handle samples, supply chain, and logistics all play a role in the samples delivered to omics labs. The market is predicted to expand as a result of greater attention being paid to the use of goods in the creation of pharmaceuticals, the investigation of biomarkers, and clinical diagnostics for the detection and treatment of diseases.
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The market is also growing because of the growing interest and uses of multi-omics in health care. For instance, a research report by Gita A. Pathak., published in 2022, states that the heterogeneity of the PTSD symptom was discovered using the multi-omics examination that includes genetically regulated gene, splicing, & protein expression in the dorso-lateral pre-frontal cortex tissue in a sample of the U.S. veterans involved in the “Million Veteran Program”.
For COVID-19, a number of omics outcomes have been seen. According to a study report published in October 2022 by Vincent R. Richard, “Early Estimation of COVID-19 Patient Mortality”, by Targeting Plasma Multi-Omics and Machine Learning.
Omics Lab Services Market Report Highlights
- Proteomics dominated the market in 2022. The rising frequency of technologies for recognizing and quantifying the total protein composition is responsible for the market’s major expansion.
- Diagnostic labs dominate the market and generate the highest sales. The main drivers of the market expansion are an increase in testing and resources for conducting tests.
- In 2022, hardware equipment will rule the market. It is projected that the miniaturization of the devices used in genomic applications will drive market expansion.
- Cancer segment is growing significantly in 2022. The primary factor driving segment expansion is the exceptional chance offered by multi-omics techniques to identify the molecular and clinical characteristics of cancer patients.
- In 2022, North America will account for a major of global sales. The primary drivers of market expansion are the increasing prevalence of chronic diseases like cancer, rheumatoid arthritis, and other neurological disorders.
- The global players include PhenoSwitch Bioscience, QIAGEN; Quest Diagnostics Incorporated, Thermo Fisher Scientific, and Illumina.
Polaris Market Research has segmented the omics lab services market report based on services, business, product, end-use, and region:
Omics Lab Services, Services Outlook (Revenue – USD Billion, 2019 – 2032)
Omics Lab Services, Business Outlook (Revenue – USD Billion, 2019 – 2032)
- Research Institutes
- Diagnostic Labs
Omics Lab Services, Product Technique Outlook (Revenue – USD Billion, 2019 – 2032)
- Hardware Equipment
- Testing / Lab (Services)
- Analytics / Interpretation
Omics Lab Services, End-Use Outlook (Revenue – USD Billion, 2019 – 2032)
- Other Categories
Omics Lab Services, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa