July 24, 2024

Spatial Omics Market: One Way Market is helping to Accelerate Discovery

The global 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, also known as spatial transcriptomics or spatial genomics, is an advanced technology that allows researchers to study gene expression patterns within tissues and cells. This emerging technique maps the location of molecules such as DNA, RNA, and proteins with high resolution to better understand cell types, cell states, and interactions within complex tissues. Spatial omics enables researchers to gain crucial insights into embryonic development, disease progression, and drug responses at an unprecedented level of detail. With its ability to spatially resolve complex biological systems with single-cell and single-molecule resolution, spatial omics is helping to accelerate discoveries in various therapeutic areas.

Market key trends:

One of the key trends in the spatial omics market is the ongoing technological advancements. Vendors are constantly working on improving techniques and instruments to provide higher resolution and throughput. For instance, 10x Genomics recently launched a new version of its spatial gene expression analysis platform Visium that delivers over 10x the resolution of previous versions. Such innovations are supporting widespread adoption of spatial omics across various end users. Another major trend is the increasing collaboration between pharmaceutical companies and spatial omics technology providers. Pharma giants are partnering with spatial omics players to leverage their technologies for drug discovery and development applications. This growing integration of spatial biology with drug R&D is expected to drive the spatial omics industry during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to the high capital requirements for R&D, technologies, and marketing needed to compete in the established spatial omics market.

Bargaining power of buyers: The bargaining power of buyers is moderate as spatial omics techniques provide unique advantages over other omics technologies that are difficult for buyers to substitute.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many instrument parts, reagents, and software suppliers that players can choose from.

Threat of new substitutes: The threat of new substitutes is moderate as new spatial profiling techniques may emerge but are unlikely to completely replace existing spatial omics approaches.
Competitive rivalry: is high as the market is dominated by a few large players.

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 in spatial biology and multiomics. The market was valued at US$ 267 million in 2022 and is projected to reach over US$ 5 billion by 2030.

The North America region currently dominates the spatial omics market due to presence of major players and availability of funding for spatial omics research. However, Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period driven by increasing research infrastructure and investment in the life sciences sector 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 is the leading player with a vast spatial gene expression product portfolio. Other major players are focusing on partnerships, acquisitions and new product launches to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it