Omics-based Clinical Trials Market Size to Reach USD 50.5 Bn by 2030

According to Vision Research Reports, the global omics-based clinical trials market was estimated at USD 25.2 billion in 2020 and is expected to reach USD 50.5 billion by 2030, registering a CAGR of 6.4% 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.

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The demand is growing for a pattern shift toward the stratification of patients or even personalized medicine. There are several complex diseases that urgently need a better understanding of their analysis and more effective therapeutic strategies. Currently, omics-based studies make the majority of precision medicine-based data, e.g. DNA sequencing technique is already being used to identify genetic material that enhances specific cancers.

Report Coverage

By Phase Analysis

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. 

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. 

By Study Design Analysis

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.

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. 

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By Indication Analysis

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.

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. 

By Regional Analysis

North America dominated the market for omics-based clinical trials and held the largest revenue share of 43.6% in 2021. This can be attributed to the huge R&D investments, the presence of global players, and their efforts to come up with newer patents.

Asia Pacific is the fastest growing market as many developed nations are investing in Asia-Pacific regions. Besides, the recruitment for clinical trials is increasing in Asia as compared to North America, and Europe. This is due to the large patient pool and low trial cost. 

Key Players

• 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  

Market Segmentation

• By Phase
  • Phase I
  • Phase II
  • Phase III
  • Phase IV
• By Study Design 
  • Interventional Studies
  • Observational Studies
  • Expanded Access Studies 
• By Indication 
  • Oncology
  • Cardiology
  • Respiratory Diseases
  • Skin Diseases
  • CNS Diseases
  • Immunology
  • Genetic Diseases (includes the rare diseases)
  • Others (includes ophthalmic, ear diseases, etc)
• By Geography
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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