The North America Omics Lab Services Market would witness market growth of 12.4% CAGR during the forecast period (2022-2028).
The Omics research has mostly helped the area of cancer, and one recently established use of NGS clinical testing is for the measurement of circulating tumor DNA (ctDNA) from plasma. There are several NGS technologies that may be applied, including Cancer Personalized Profiling by deep sequencing. Recent advancements in high-throughput RNA sequencing have highlighted the significance of transcriptomics in biological and clinical research. Transcriptomics may be carried out utilizing microarrays or RNA sequencing using NGS technology.
Omics labs have become an essential tool for the prognosis, diagnosis, and treatment of a wide range of diseases; however, the sample sent to omics labs are significantly impacted by supply chain and logistics issues, a lack of skilled professionals with the capacity to handle samples and these issues. Tens of thousands to millions of molecular measurements may be found in omics databases.
Usually, researchers begin by making feature selection, which entails selecting a subset of the data that seem to be connected to the characteristic or outcome or that are presumed to be physiologically relevant based on prior experience. Using just this subset of the data, a fully described computer model may be developed to forecast the clinical outcome based on the omics measurements.
North America is witnessing a massive adoption of new sequencing technology and a shift toward tailored medications. In addition, government assistance is critical. For example, the Biden Administration announced a USD 1.7 billion investment to Fight COVID-19 Variants in April 2021, with USD 1 billion going to expand genomic sequencing and USD 400 million going to support innovation initiatives like the launch of new innovative centers of excellence in genomic epidemiology.
The US market dominated the North America Omics Lab Services Market by Country in 2021; thereby, achieving a market value of $37.6 billion by 2028. The Canada market is anticipated to grow at a CAGR of 15% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.9% during (2022 - 2028).
Based on Business, the market is segmented into Diagnostic Labs, Research Institutes, and Hospitals. Based on End Use, the market is segmented into Cancer, Pharmaco, Population Studies & Genealogy, Reproductive, Skincare, Nutrition, Vitamin & Supplements, and Forensics & Others. Based on Type, the market is segmented into Proteomics, Transcriptomic, Metabolomics, Genomics, and Epigenetics. Based on Product, the market is segmented into Hardware Equipment, Testing / Lab Services, and Analytics / Interpretation. Based on Frequency of Service, the market is segmented into Continuous, Repeat, and One-off. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Omics Lab Services Market is Predict to reach $139.1 Billion by 2028, at a CAGR of 12.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Qiagen N.V., Quest Diagnostics Incorporated, Illumina, Inc., BGI Group, Q2 Solutions (IQVIA), Flomics Biotech, PhenoSwitch Bioscience
By Business
By End-Use
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By Frequency of Service
By Country
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