PUBLISHER: The Business Research Company | PRODUCT CODE: 1948191
PUBLISHER: The Business Research Company | PRODUCT CODE: 1948191
Omics CRO (Contract Research Organization) services refer to outsourced research solutions specializing in large-scale biological data analysis in fields such as genomics, transcriptomics, proteomics, metabolomics, and epigenomics. These services offer comprehensive support, encompassing sample processing, high-throughput data generation, bioinformatics analysis, and interpretation, to expedite research and development in pharmaceuticals, biotechnology, and personalized medicine. The primary purpose of omics CRO services is to enable organizations to conduct complex, high-volume omics studies efficiently without incurring significant investment in in-house infrastructure.
The omics CRO services market consists of sales, by entities (organizations, sole traders, or partnerships) of outsourced research and analytical services that apply different technologies for drug discovery, precision medicine, and biomarker identification.
The global omics CRO services market reached a value of nearly $34,209.94 million in 2024, having grown at a compound annual growth rate (CAGR) of 13.55% since 2019. The market is expected to grow from $34,209.94 million in 2024 to $61,628.89 million in 2029 at a rate of 12.49%. The market is then expected to grow at a CAGR of 10.77% from 2029 and reach $ 102,794.04 million in 2034.
Favorable Government Initiatives
During the historic period, the favorable government initiatives supported the growth of the omics CRO services market. Favorable government initiatives, such as increased funding for precision medicine, grants for genomics research, and supportive regulatory frameworks, help omics CRO services by enabling expansion of advanced sequencing, biomarker discovery, and multi-omics capabilities. These policies reduce financial and operational barriers for CROs, encouraging innovation and adoption of cutting-edge technologies. Additionally, government-backed programs for clinical trials and data sharing accelerate research collaborations and global service reach. For instance, in September 2023, the National Institutes of Health (NIH), a US-based government agency, established consortium with an initial funding of $50.3 million to advance multi-omics research, focusing on integrating various omics data types to study health and disease in diverse populations. This initiative provides opportunities for CROs specializing in multi-omics services. Therefore, the favorable government initiatives drove the growth of the omics CRO services market.
Strategic Collaborations To Enhance Technology Integration
Key companies operating in the omics CRO services market are adopting a strategic partnership approach to enhance technology integration and expand market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations where they combine their resources, expertise, and efforts to achieve common goals or objectives. For instance, in November 2024, Frontage Laboratories, US-based contract research organization (CRO) providing integrated preclinical, clinical, and analytical services, partnered with Medicover Integrated Clinical Services (MICS), a Poland-based clinical and diagnostic services provider, his strategic partnership aims to integrate Frontage's clinical trial services with Medicover's advanced genomic testing solutions. Medicover, operating over 100 laboratories across 13 countries, provides comprehensive genomic analysis services, including next-generation sequencing (NGS), molecular pathology, and pharmacogenomics.
The global omics CRO services market is fairly concentrated, with a large player operating in the market. The top ten competitors in the market made up to 15.12% of the total market in 2024.
Omics CRO Services Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global omics CRO services market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for omics CRO services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The omics CRO services market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider omics CRO services market; and compares it with other markets.