The global omics-based clinical trials market is poised for substantial growth, projected to reach USD 70.92 billion by 2034. This surge is primarily driven by the increasing integration of omics technologies, such as genomics, proteomics, and metabolomics, into clinical research and development. These technologies enable more targeted therapeutic strategies and improved patient stratification, ultimately streamlining trial processes and enhancing treatment outcomes.
Phase III Trials Lead, Phase I Set for Rapid Growth
In 2024, Phase III trials accounted for the largest share (55.0%) of the omics-based clinical trials market. This dominance is attributed to the large number of participants typically involved in these trials and the significant resources required, with median costs exceeding USD 19.0 million per trial. However, Phase I trials are expected to exhibit the fastest growth rate during the forecast period, driven by the rising integration of omics technologies in early-stage drug development. Omics approaches provide valuable insights into patient-specific responses at a molecular level, allowing researchers to improve the efficacy and safety of new drugs and devices, identify potential adverse effects, and optimize dosing strategies.
Interventional Studies and the Rise of Personalized Medicine
Interventional studies currently dominate the omics-based clinical trials market, fueled by the increasing emphasis on personalized medicine. These studies allow for tailored interventions based on patient profiles generated from omics technologies. Observational studies are also expected to grow rapidly, as they enable the collection of real-world data crucial for understanding treatment effectiveness and patient outcomes. Advancements in technology and data analytics are facilitating the conduct of large-scale observational studies, attracting further investment from pharmaceutical companies and researchers.
Oncology Drives Market Growth
The oncology segment led the omics-based clinical trials market in 2024, driven by the increasing global prevalence of cancer and the urgent need for more effective treatment strategies. According to the American Cancer Society, approximately 2,001,140 new cancer cases and 611,720 cancer-related deaths are estimated to occur in the U.S. in 2024. Omics technologies provide critical insights into the molecular mechanisms underlying various cancers, enabling the identification of biomarkers that can inform treatment selection, prognosis, and diagnosis. The inflammation/autoimmune segment is also expected to grow rapidly, driven by the increasing number of interventional studies focused on these diseases.
North America Leads, Asia Pacific Shows Promise
North America dominated the global omics-based clinical trials market in 2024, accounting for a 38.0% share. This is attributed to the increasing number of clinical trials and the strong presence of established market players in the region. Supportive regulatory frameworks, including the FDA's recognition of omics data in drug development, further enhance market growth. The U.S. market is particularly driven by the increasing preference for personalized medicine, with healthcare providers and researchers leveraging omics data to tailor treatments to individual patients. The Asia Pacific region is also emerging as a promising market, driven by the constant growth and advancement in clinical research and the presence of a diverse and readily recruitable patient population. China is experiencing particularly rapid growth due to the rising demand for biopharmaceuticals and innovative therapies in oncology and chronic diseases.
Key Players and Recent Developments
Key players in the omics-based clinical trials market include Parexel International, Thermo Fisher Scientific, Charles River Laboratories, SGS Société Générale de Surveillance SA, Pfizer Inc., Laboratory Corporation of America, Rebus Biosystems, Inc., ICON plc, Eli Lilly and Company, and Novo Nordisk A/S.
Recent developments in the field include:
- October 2024: Macrogen and PacBio announced the opening of a new laboratory in Singapore to enhance genomics innovation.
- September 2024: Eli Lilly entered into a collaborative agreement with 5 Prime Sciences to target discovery in cardio-metabolic diseases.
