Global Spatial OMICS Market Size Estimated to Reach USD 484.29 Million By 2028: Polaris Market Research

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- "According to research report, the global spatial OMICS market size & share expected to reach to USD 484.29 Million by 2028 from USD 226.32 Million in 2020, at a compound annual growth rate (CAGR) of 10.5% during forecast period 2021 to 2028."

What is Spatial OMICS? How big is the Spatial OMICS Industry?

The technological developments in the spatial OMICS combined with the vigorous growth in penetration of the spatial shows slow acceleration in the market. The spatial analysis provides better molecular studies through spatial information. Startups, well-established players as well as emerging companies in the market are continuously launching novel solutions and introducing product development. They are also engaged in mergers & acquisitions, which is extending the adoption of spatial OMICS globally. For example, NanoString's GeoMX DSP (Digital Spatial Profiler) combines the best of spatial and molecular profiling technologies, assisting the quantification of approximately 1,800 RNA targets which also includes COVID 19 receptors and proteases. This quality promotes market development.

The COVID-19 pandemic globally affected many industries, however, this market did get negatively affected at an extensive pace due to the pandemic. Also, leading rivals are accepting the development of spatial transcriptomics solutions and products. Research on the impact of COVID-19 infection spotlight on the application of spatial transcriptomic and other omics studies.

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The Sample Report Explains The Following Insights:

• Analysis of global spatial OMICS market outlook with the recent trends and SWOT analysis
• Easy identification of growth opportunities and key product development strategies
• Segmentation analysis including qualitative and quantitative research
• Region-specific growth and development.
• Market value and volumes data for each segment and sub-segment
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players
• Forecast analysis for 2021-2028 period

(The Sample of this report is readily available on request).

Top Market Players Covered:

• 10x Genomics
• Akoya Bioscience Inc.
• Biognosys AG
• BioSpyder Technologies
• Bio-Techne
• Bruker and Brooks Automation Inc.
• Danaher Corporation
• Diagenode Diagnostics
• Fluidigm Corporation
• IonPath Inc.
• Millennium Science Pty Ltd.
• NanoString Technologies
• PerkinElmer
• Rebus Biosystems
• Ultivue Inc.
• Vizgen Corp

Spatial OMICS Market: Growth Factors

The spatial OMICS market is driven by high applications as diagnostics tools, especially in the oncology area. Other factors pushing the market growth include the growing cancer prevalence and incidence rates. Moreover, high research and development carried out by private and public agencies have been shown as growth fueling aspects of the market. For example, Ting Wu, a professor of genetics at the Blavatnik Institute at Harvard Medical School (HMS), build the innovations to produce a shorter time-to-result and more cost-effective approach to precisely visualize the genome, spatially and in situ. for example, spatial transcriptomics (ST) is an in situ capturing method.

Many emerging spatial OMICS technologies and advancements support the spatial OMICS market growth. The application of spatial OMICS techniques in cancer diagnosis determines huge results for the near future. Over the past two decades, cancer incidence rates have steadily increased. Along with this, a significant fluctuation in survival rates is also found across cancer types. The earlier diagnosis and enhanced treatments have improved the survival for most classes. The demand for the spatial OMICS market is growing as the technology efficiently acts as a new and integral approach as a cancer diagnostic tool.

Additionally, companies are utilizing spatial OMICS during clinical trial studies, boosting the market demand for this industry around the globe. The leading players are moving towards intensifying their genomic footprints and spatial transcriptomics for increasing their existence in the market. For this purpose, they are developing growth strategies by composing deliberate collaborations or partnerships with the other prominent market players.

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Global Spatial OMICS Market: Key Segmentation

• Insight by Technology:

In the technology segment, the largest pole was held by the segment of spatial transcriptomics in the global market in 2020. The launch of novel tools is expected to expand the transcriptomic study of single cells. The technology may help to discover the subcellular localization of mRNA molecules through this method. Also, the technology simplifies the process of studying genomic analysis. This will possibly fulfill the requirements of the biological specimens of the nucleic acid or single cells. These factors are predicted to contribute to market growth. These technical methods often cause the association of the function-oriented area of molecular genetics and biochemistry with structure-focused areas, including embryology and histology. This allows the genomics segment to raise at the greater CAGR during the anticipated period.

• Insight by Product

On the basis of product, the market is segmented into instruments, consumables, software. Among these, the consumables segment is anticipated to gain huge revenue in the market. factors behind the growth of this segment include production of the innovative products in the market along with the growing utilization rate of the segment. For example, NanoString announced the changes and advancements in its spatial molecular imager (SMI) in December 2020. This next-generation platform would assist the studies of the FFPE tissue samples in the RNA and multiplexed protein analyses. The launch of the new instruments also dominated the market growth of the consumables.

• Insight by End-Use

Here, the academic and translational research institutes segment boosted the market along with a revenue share of 89.60% in 2020. In the translational research segment, the growing adoption of spatial OMICS to translate real-time tissue responses to an external agent escalates the technology's adoption. While in translational studies, the field of genomics aid researchers and healthcare professionals study the behavior of human tissues and cells from different individuals in different environments.

Then the software segment is expected to achieve a great market share by 2028. The growth of the segment can be primarily attributed to factors of the segment such as the single-cell spatial OMICS data, consolidative analyses, visualization of spatial expression data, and statistical studies of the spatial pattern.

• Insight by Workflow Insights

The instrumental analysis segment achieved a revenue share of 47.69% in 2020, accounting largest market share. The market growth leading components can include substantial advancements being performed in instruments such as microscopy and mass spectrometry.

The data analysis segment is anticipated to dominate the market over the projected period, thanks to the rising integration of advanced computational solutions for producing comprehensive spatial information for omics studies. The evolution and announcement of tools are responsible for this segment's growth. 

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Spatial OMICS Market: Report Scope

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Geographic Overview: Spatial OMICS Market

In terms of geography, North America dominated the largest share in terms of income. The growth was influenced by the growing healthcare investments along with sophisticated facilities in the hospitals and the obtainability of the diagnostic techniques. In addition, the strategic investments in the research and development of disease pathology as well as the increasing prevalence of transcriptomics in an end-use application are also contributing to the region's growth.

In the Asia Pacific region, the global market records the highest CAGR in the upcoming years. Several companies are collaboratively introducing an agreement for strengthening the biological research and development activities, this may in turn fuel the region's growth. For instance, in February 2021, the ERS Genomics Limited to the G+FLAS Life Sciences, Inc., a biotechnology start-up from South Korea, approved the CRISPR/Cas9 patent portfolio.

Browse the [111+ Pages] Detail Report "Spatial OMICS Market Share, Size, Trends, Industry Analysis Report, By Technology (Spatial Proteomics, Spatial Transcriptomics, Spatial Genomics); By Product (Instruments, Consumables, Software); By Workflow (Sample Preparation, Instrument Analysis, Data Analysis), By End-use, By Region; Segment Forecast, 2021 - 2028" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/spatial-omics-market

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The market is primarily segmented on the basis of technologies, product, workflow, end-use, region.

Spatial OMICS Market: By Technology Outlook:

• Spatial Proteomics
• Spatial Transcriptomic
• Spatial Genomics

Spatial OMICS Market: By Product Outlook

• Instruments
• Consumables
• Software

Spatial OMICS Market: By Workflow Outlook

• Sample Preparation
• Instrument Analysis
• Data Analysis

Spatial OMICS Market: By End-Use Outlook

• Academic & Translational Research Institutes
• Pharmaceutical and Biotechnology Companies

Spatial OMICS Market: By Regions Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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SOURCE Polaris Market Research