On-going Oncology Studies to Increase the Demand for Omics Based Clinical Trials by 7.5% CAGR through 2032

On-going Oncology Studies to Increase the Demand for Omics Based Clinical Trials by 7.5% CAGR through 2032

PR Newswire

NEW YORK, April 7, 2022

Omics Based Clinical Trials Market to Hit US$ 61.7 Bn in 2032; Application in Oncology to Contribute over 33.6% of Overall Sales

Fact.MR offers detailed analysis on the global omics based clinical trials market with a 360-degree view for the forecast period of 2022 to 2032. It also provides key information such growth drivers, trends, and opportunities across multiple segments including phase type, study design type, indication, and application across seven major regions.

NEW YORK, April 7, 2022 /PRNewswire/ -- The global omics-based clinical trials market is projected to expand by 2.2x, exhibiting growth at 8.1% CAGR during the forecast period. As per the study, the sales in omics based clinical trials market is projected to reach a valuation of US$ 61.7 Bn by 2032.

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Surging need for the stratification of patients to understand complex diseases and therapeutic strategies will create substantial growth prospects for the market. Besides this, rising adoption of new technologies, methods, and models in clinical trials following the outbreak of COVID-19 will positively impact the market.

In addition to this, increasing number of oncology trials has turned the focus on the application of omics-based studies. This will propel the growth in the market over the coming years.

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With growing requirement of personalized medicine and orphan drugs, the demand for omics technologies and sequencing technologies is spurring. This is expected to boost the demand for omics based clinical trials in the market.

Further, rising investments in the research & development (R&D) activities to develop precision medicine-based data by prominent players to update their product line is likely to drive the market.

Subsequently, increased application of single-cell multi-omics technology, non-invasive instruments, and traditional labs will surge the demand in the market. This is expected to bolster the growth in omics based clinical trials market.

Report Attributes

Details

Base Year Value (2021A)

US$ 26.2 Bn

Projected Year Value (2032F)

US$ 61.7 Bn

Global Growth Rate (2022-2032)

CAGR 8.1%

Key Takeaways:

Growth Drivers:

Restraints:

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Competitive Landscape:

The market for omics based clinical trials is highly competitive due to the presence of small & medium enterprises and large enterprises. Besides this, the adoption of diverse tactics by the manufacturers is likely to aid their businesses.

Prominent companies operating in the global omics based clinical trials market are focusing on innovating their manufacturing capabilities and product lines to enhance their global footprint.

For instance,

Key Companies Profiled by Fact.MR

More Valuable Insights on Omics Based Clinical Trials Market

Fact.MR, in its latest report, provides in-depth market analysis on the global omics based clinical trials market for the forecast period of 2022 to 2032. This study also offers crucial insights into the growth opportunities and key trends impacting the sales in the omics based clinical trials market through detailed segmentation as follows:

By Phase Type:

By Study Design Type:

By Indication:

By Region:

Key Questions Covered in the Omics Based Clinical Market Report

Explore Fact.MR's Coverage on the Healthcare Domain

eCOA, eSource & Clinical Trials Market: Growing number of issues associated with the paper-based data collection is projected increase the adoption of new technologies. This is likely to create prolific opportunities for eCOA, eSource & clinical trials market. In addition to this, the rising use of digital solutions to save time and capital when conducting trials will further increase the sales in the market.

Clinical Trial Logistics Market: Rise in the number of clinical trials conducted by the government and pharmaceutical companies will fuel the growth in the market. Additionally, the advancements in drug and biologics such as the testing and development of new, products, operations, drugs and experiments is driving the clinical trials logistics market.

Clinical EHR Systems Market:  The overall sales of clinical EHR system in the healthcare sector is spurring due to provision of easier access to patient data, patient safety via decision support, and precise structuring of information. Besides this, the rising need for remote monitoring of geriatric patients will boost the expansion of the market.

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