Newly-released Omics Based Clinical Trials Market analysis report by Fact.MR shows that global sales of Omics Based Clinical Trials Market in 2021 was held at US$ 26.2 Bn. With 8.1%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Interventional Studies is expected to be the highest revenue generating segment, accounting for an absolute dollar opportunity of nearly US$ 26.6 Bn during 2022 – 2032.
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The constant surge in demands for Omics-Based Clinical Trials is due to Covid-19 pandemic. The main drivers were rising investment in the pharmaceutical industry by the prominent participants to enhance their productivity, rising demand for omics-based clinical trials, and increasing prevalence of chronic disorders. Owing to this, Omics Based Clinical Trials Markets is projected to grow at a CAGR of 8.1% over the coming 10 years.
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| Attribute | Details |
| Forecast Period | 2022-2032 |
| Historical Data Available for | 2017-2021 |
| Market Analysis | US$ Bn for Value |
| Key Regions Covered | North AmericaLatin AmericaEuropeAsia PacificMiddle East & Africa |
| Key Countries Covered | United StatesCanadaBrazilMexicoGermanyU.K.FranceSpainItalyRussiaChinaJapanSouth KoreaIndiaAustraliaSouth AfricaSaudi ArabiaUAEIsrael |
| Key Market Segments Covered | PhaseStudy DesignIndicationRegion |
| Key Companies Profiled | Parexel International CorporationPharmaceutical Product Development (PPD)Charles River LaboratoryICON plcSGS SAEli Lilly and CompanyPfizer Inc.Covance Inc.Rebus Bio |
Owing to the ease of regulatory compliance, low study costs, growing patient population, and the existence of a few elite clinical institutions acting as sites, Asia-Pacific has become a hotspot for conducting clinical trials. Omics Based Clinical Trials Market revenue is estimated to expand at the fastest rate in APAC between 2022 and 2032, with a projected growth rate of around 9.0%. China’s regulatory bodies, for example, are attempting to improve the clinical trial process by shortening the total review and approval procedure.
Due to the presence of a large number of developed as well as medium to small-sized organisations, the market for omics-based clinical trials is significantly competitive. A number of market participants are privately held or are part of the portfolios of private equity companies. Some of the key prominent players in the Omics Based Clinical Trials market include: Parexel International Corporation, Pharmaceutical Product Development (PPD), Charles River Laboratory, ICON plc, SGS SA, Eli Lilly and Company, Pfizer Inc., Covance Inc., Novo Nordisk, Rebus Bio.
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