by The Spatial Omics Market is estimated to be valued at US$ 267 Million in 2022 and is expected to exhibit a CAGR Of 9.4% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Spatial omics provides information about the exact location of biomolecules in tissues, cells, or regions of interest. It generates positional information of biomolecules like DNA, RNA, proteins and metabolites simultaneously at single-cell level. Spatial omics helps in understanding the complex molecular organization and interactions within tissues and cells.
Market Dynamics:
Increasing investments in R&D by key players and various research institutes is expected to drive the growth of the spatial omics market. For instance, in 2020, 10x Genomics raised $400 million in its initial public offering to further invest in development of new spatial genomics products and techniques. Furthermore, development of novel spatial omics techniques such as visible microscopy-based spatial transcriptomics is also fueling the market growth. These new techniques provide high resolution images along with spatial gene expression information using RNA probes labeled with fluorescent dyes, thus enabling straightforward analysis of complex tissues at single cell resolution.
The technologies involved are microscopy coupled with spatial gene expression analysis. This integration provides comprehensive insight into the molecular architecture of tissues and understanding of cell-cell communication, thus helping researchers gain mechanistic insights into physiology and diseases.
Segment Analysis
The global spatial omics market is segmented by technique, product, application and end user. Based on technique, spatial transcriptomics segment dominated the market and held largest market share in 2021 owing to increasing adoption of spatial transcriptomics technique for gene expression profiling at single-cell resolution. Spatial transcriptomics helps in understanding complex human diseases at tissue and cellular level with high resolution which is fueling growth of this segment.
PEST Analysis
Political: The governments across the globe are increasing funding for spatial omics research which is positively impacting the market growth. For instance, National Institutes of Health provides grants to support spatial omics research.
Economic: Rising per capita healthcare expenditure and growing genomics industry is driving the spatial omics market. The high costs associated with spatial omics products and services pose a challenge for market growth.
Social: Increasing prevalence of chronic diseases and growing demand for precision medicine is promoting adoption of spatial omics technologies for disease diagnosis and treatment.
Technological: Continuous technological advancements in spatial imaging and improved bioinformatics tools are expanding applications of spatial omics. Companies are focusing on development of high-throughput and automated spatial omics platforms.
Key Takeaways
The global Spatial Omics Market is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing R&D investments by pharmaceutical and biotechnology companies in spatial omics. The United States dominated the spatial omics market in 2021 owing to presence of major players, large biopharma industry and growing focus on precision medicine in the country.
Regional analysis
The North America region is anticipated to dominate the spatial omics market during the forecast period due to growing genomics research activities in the US, increased funding for precision medicine initiatives, and presence of major players in the region. The presence of well-established healthcare infrastructure and big pharmaceutical companies driving spatial omics research makes North America the most lucrative market.
Key players operating in the spatial omics market are 10x Genomics, Akoya Bioscience Inc., Biognosys AG, BioSpyder Technologies, Bio-Techne, Bruker, Brooks Automation Inc., Danaher Corporation, Diagenode. 10x Genomics dominates the spatial transcriptomics market with its Visium platform while Akoya Bioscience leads the spatial proteomics segment.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
