Omics-Based Clinical Trials Market Development Trends of Analysis Report by 2030

Omics-Based Clinical Trials Market Growth & Trends

The global omics-based clinical trials market size is anticipated to reach USD 49.5 billion by 2030, according to the new report of Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2022 to 2030. Omics has turned out to be the most advanced approach in molecular research. It includes all the field of biological sciences that ends with the suffix - omics. Various disciplines can be classified as omics such as proteomics, genomics, transcriptomics, and metabolomics. The outbreak of coronavirus accelerated the adoption of new approaches, models, and technology in clinical trials, this has positively impacted market growth.

U.S. omics-based clinical trials market size, by phase, 2020 - 2030 (USD Billion)

Omics-Based Clinical Trials Market Segmentation

Grand View Research has segmented the global omics-based clinical trials market on the basis of phase, study design, indication, and region:

Based on the Phase Insights, the market is segmented into Phase I, Phase II, Phase III, Phase IV.

  • The phase II segment dominated the market for omics-based clinical trials and accounted for the largest revenue share of 37.8% in 2021. The segment is expected to witness a CAGR of 7.1% over the forecast period. This is attributed to a large number of ongoing clinical trials in phase II. Phase II clinical trials had the highest number of projects in 2020 and this trend is expected to grow further owing to increasing investments in R&D by industry and non-industry sponsors. Moreover, the globalization of clinical trials, the growing number of industry-sponsored and non-industry-sponsored clinical trials in phase II, and the complexity associated with phase II clinical trials are factors expected to drive the growth of the segment.
  • Phase II is followed by Phase I in the market for omics-based clinical trials. Phase I studies assess the safety of a device or drug and involve the evaluation of pharmacokinetics of molecules and tolerability. It determines the effect of a device or drug on humans including the way it is absorbed, metabolized, and excreted. For patients who have clear tolerability studies, oncology studies have to be conducted as a primary endpoint. The main aim of phase I is to evaluate doses and their adverse effects, and this phase includes testing about 70% of experimental drugs.

Based on the Study Design Insights, the market is segmented into Interventional Studies, Observational Studies, Expanded Access Studies.

  • The interventional studies segment dominated the market for omics-based clinical trials and accounted for the largest revenue share of 78.3% in 2021. The segment is expected to exhibit a CAGR of 7.1% over the forecast period owing to the increasing number of interventional designs of clinical trials. Interventional studies are categorized based on the intervention that is to be studied which includes drug or biologic, surgical procedure, behavioral, and devices. There is a large number of interventional studies listed on clinicaltrials.gov, especially for oncology. There has been a significant increase in the number of interventional studies design carried out over time.
  • The expanded access studies segment is anticipated to witness a lucrative CAGR of 8.6% during the forecast period. Interventional study designs are known to provide the most reliable data in epidemiological research in genomics or any other omics-based studies. Intervention studies can generally be considered as either preventative or therapeutic. In the interventional study design, when research study design is significantly randomized, then the statistical test of significance is readily interpretable for researchers, this makes the study very beneficial in omics-based research.

Based on the Indication Insights, the market is segmented into Oncology, Cardiology, Respiratory Diseases, Skin Diseases, CNS Diseases, Immunology, Genetic Diseases (includes the rare diseases), Others (includes ophthalmic, ear diseases, etc)

  • The oncology segment dominated the market for omics-based clinical trials and accounted for the largest revenue share of 46.7% in 2021. The segment is expected to witness a CAGR of 7.6% during the forecast period. The worldwide cancer cases are projected to grow by 50% and worldwide cancer deaths are expected to rise by 60% till 2030 which indicates growing potential for the omics-based clinical trial in this segment. Precision medicine has been successfully applied in oncology, with improved efficacy and better outcomes. It has been observed that precision medicine has a vast application in the branch of oncology, where the sequencing and targeting of tumor genomes have been used to promote clinicians’ ability to both assess and treat cancers.
  • The research on cardiology is ideally positioned to address the epidemic of noninfectious causes of death, as well as advance the understanding of human health and disease, through the development and implementation of precision medicine. The growing demand for precision medicine for cardiovascular diseases is likely to augment the cardiology segment in the omics-based clinical trials market.
  • The skin diseases segment is expected to witness the highest CAGR over the forecast period owing to the growing prevalence of skin-related disorders including dermatitis, acne, skin cancer, driving the demand for omics-based clinical trials to provide better treatment.

Omics-Based Clinical Trials Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Share Insights

  • December 2021: S.-based life science technology company announced that it has acquired the assay assets and IP of EEL Transcriptomics AB, a company that is privately held focused on high-plex spatial transcriptomics based on single-cell resolution.
  • March 2018: Danaher Corporation acquired Integrated DNA Technologies. This acquisition aimed at expanding Danaher’s presence in the highly attractive genomics market. Another company is Rebus Biosystems Inc.

Key Companies Profile & Market Share Insights

The market for omics-based clinical trials is highly competitive in nature due to the presence of a substantial number of developed as well as medium to small-sized organizations Several market participants are privately held or are a part of private equity firms’ portfolios.

Some of the prominent players operating in the global omics-based clinical trials market include,

  • Parexel International Corporation
  • Pharmaceutical Product Development (PPD)
  • Charles River Laboratory
  • ICON plc
  • SGS SA
  • Eli Lilly and Company
  • Pfizer Inc.
  • Covance Inc.
  • Novo Nordisk
  • Rebus Bio

Order a free sample PDF of the Omics-Based Clinical Trials Market Intelligence Study, published by Grand View Research.

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