Spatial omics techniques help researchers understand complex biological systems at the spatial level by preserving spatial information during molecular profiling of tissues and single cells. Spatial omics applications allow mapping gene expression, protein localization, and other omics markers on tissue slides with cellular resolution. This provides crucial context to biological function and disease pathogenesis. The global Spatial Omics Market is estimated to be valued at US$ 336.5 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Development of novel applications is expected to be a major driver for the spatial omics market over the next decade. Researchers are increasingly leveraging spatialomics techniques like spatial transcriptomics and proteomics to gain insights into complex diseases like cancer. For instance, spatial mapping of tumor samples helps identify intratumoral heterogeneity and better understand tumor evolution and treatment resistance. Growing adoption of these techniques in oncology research as well as other areas like neuroscience is poised to significantly expand the scope of spatial omics technologies in the coming years.
SWOT Analysis
Strength: Global Spatial Omics Market Size enable multiplexed measurement of biomolecules and their interactions at subcellular resolution. This helps in better understanding complex biological systems.
Weakness: High costs associated with spatial omics instruments, reagents and data analysis limit their widespread adoption. Spatial omics techniques also require specialized expertise and infrastructure.
Opportunity: Growing funding for single-cell multi-omics research from government and private organizations is creating opportunities for spatial omics market. Increasing incidence of chronic and infectious diseases is also driving the demand for spatial profiling technologies.
Threats: Intense competition from established and emerging players may lead to pricing pressures in the spatial omics market. Technological advancements in alternative spatial mapping approaches can potentially threaten spatial omics techniques.
Key Takeaways
The global spatial omics market is expected to witness high growth.
Geographically, North America is expected to dominate the spatial omics market during the forecast period owing to the presence of major players in the region and growing R&D expenditure on spatial genomics technologies. The Asia Pacific region is anticipated to witness fastest growth due to rising biotechnology research, growing awareness about omics technologies and increasing healthcare expenditure in countries like China and India.
Key players operating in the spatial omics market are Gilson Company, Inc., Russell Finex Ltd., Retsch GmbH, Lao Soung Machinery Co. Ltd., Endecotts Ltd., Bionics Scientific Technologies Ltd., and Thermo Fischer Scientific. These players are focusing on new product launches, partnerships, acquisitions and expansions to strengthen their positions in the spatial omics market. For instance, in 2021 Thermo Fischer Scientific acquired spatial profiling company NanoString Technologies to expand its portfolio of multi-omics solutions.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it