Spatial Transcriptomics is the largest segment driving the growth...

Spatial Transcriptomics is the largest segment driving the growth of Spatial Omics Market

Posted 2023-11-09 10:06:39

The global Spatial Omics Market is estimated to be valued at US$ 292.1 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Spatial omics analyzes spatial information of biomolecules in tissues and cells in a high-throughput manner. It provides insights into complex biological processes by examining gene expression, proteins, and other molecules with spatial precision within intact biological systems and tissues.

Market Key Trends:
The spatialomics market has been witnessing increased adoption among various end users such as academic & research institutes, pharmaceutical & biotechnology companies and translational laboratories. This is majorly due to growing applications of spatial analysis to gain insights into complex cell and tissue samples. Spatial transcriptomics and proteomics techniques provide location information of DNA, RNA and proteins which helps in better understanding of cellular functions and molecular pathways. Advancements in technologies such as nanopore sequencing, in situ sequencing and mass spectrometry imaging are further enabling high-resolution spatial analysis.

SWOT Analysis
Strength: Technologies such as spatial transcriptomics and proteomics provide precise location data which helps gain insights into complex biological systems.
Weakness: High costs associated with instruments and assays limit widespread adoption. Data analysis and storage requirements are challenging.
Opportunity: Rising R&D investments in life sciences and precision medicine are driving demand. Increasing applications in oncology, immunology and neuroscience research present growth opportunities.
Threats: Slow regulatory approvals for spatial analysis based assays and diagnostic tests. Intense competition among existing players.

Key Takeaways
Global Spatial Omics Market Demand is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing focus on precision medicine and pharma R&D.

Regional analysis: North America dominated the market in 2023, owing to presence of major players and availability of reimbursements for precision diagnostic tests. Asia Pacific is expected to witness fastest growth due rising pharma R&D spending in countries such as China and India.

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 leads the market with its industry-leading Chromium single-cell solutions and Visium spatial gene expression products.