PUBLISHER: The Business Research Company | PRODUCT CODE: 1522264
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522264
Multiomics refers to the integration and analysis of multiple omics data types, including genomics, transcriptomics, proteomics, metabolomics, and epigenomics, to gain a more comprehensive understanding of biological systems. This approach enhances comprehension of complex diseases, facilitates biomarker identification, and contributes to precision medicine initiatives.
The primary categories of multiomics are single-cell multiomics and bulk multiomics. Single-cell multiomics entails analyzing various biological molecules, such as DNA, RNA, proteins, and metabolites, within individual cells. It offers diverse platforms, such as genomics, transcriptomics, proteomics, metabolomics, and integrated omics platforms, for applications such as diagnostics, drug discovery and development, personalized medicine, agrigenomics, and others. These techniques are utilized by various end users, including academic and research institutions, pharmaceutical and biotechnology firms, clinical research organizations, and others.
The multiomics market research report is one of a series of new reports from The Business Research Company that provides multiomics market statistics, including the multiomics industry global market size, regional shares, competitors with multiomics market share, detailed multiomics market segments, market trends, and opportunities, and any further data you may need to thrive in the multiomics industry. These multiomics market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The multiomics market size has grown rapidly in recent years. It will grow from $2.78 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth during the historic period can be attributed to increased biomedical research, augmented government and private funding, a surge in the prevalence of chronic diseases, technological advancements, and improved computational tools and software for data analysis.
The multiomics market size is expected to see rapid growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to advances in artificial intelligence and machine learning, the expansion of clinical applications, the growing biopharmaceutical industry, the emergence of integrated multiomics platforms, and increasing use in agricultural and environmental research. Major trends expected during the forecast period include technological advancements, the launch of new commercial multiomics platforms, the adoption of spatially resolved multiomics analysis, increased adoption in biopharmaceutical research and development, and expansion into clinical diagnostics.
The increasing demand for personalized medicine is poised to propel the growth of the multiomics market. Personalized medicine, which tailors healthcare decisions and treatments to individual patients based on their genetic, environmental, and lifestyle factors, is gaining traction due to advancements in technology, a growing need for targeted therapies, and improvements in global healthcare. Multiomics plays a crucial role in personalized medicine by offering a comprehensive understanding of an individual's genetic, molecular, and metabolic profile, empowering healthcare providers to customize treatments according to each patient's unique characteristics. For instance, in February 2024, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to 6 in 2022, as reported by the Personalized Medicine Coalition, a US-based non-profit organization. Thus, the increasing demand for personalized medicine is fueling the expansion of the multiomics market.
Leading companies in the multiomics market are focusing on developing advanced single-cell multiomics platforms to facilitate large-scale studies without compromising sample integrity. Single-cell multiomics platforms integrate various omics with artificial intelligence capabilities, enabling users to analyze and interpret complex biological data through sophisticated algorithms and machine learning techniques. For example, in February 2023, Becton, Dickinson, and Company, a US-based medical device company, introduced the BD Rhapsody HT Xpress, a high-throughput single-cell multiomics platform. This cutting-edge system allows scientists to isolate, barcode, and analyze single cells with high sample throughput, accommodating up to eight times more cells than previous versions of BD single-cell analyzers. The BD Rhapsody HT Xpress System ensures minimal sample loss and offers flexibility to analyze multiple samples and different cell sizes and types simultaneously, such as stem cells or cancer cells, thereby enhancing researchers' ability to gain insights efficiently.
In October 2022, Clinical Microbiomics, a Denmark-based biotechnology company, acquired MS-Omics for an undisclosed amount. This strategic acquisition bolsters Clinical Microbiomics' leadership in the microbiome field and significantly enhances its capabilities in analyzing and understanding the intricate interactions within the microbiome. The acquisition enables Clinical Microbiomics to provide a comprehensive suite of multi-omics solutions tailored to the microbiome, offering valuable insights into its role in human health and disease. MS-Omics, based in Denmark, specializes in multiomics, including metabolomics.
Major companies operating in the multiomics market are Bayer AG, Thermo Fisher Scientific Inc., Novartis AG, Becton Dickinson and Company, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., Shimadzu Corporation, Bruker Corporation, Bio-Techne, Azenta Life Sciences, 10x Genomics, Ginkgo Bioworks, Abcam limited, BioLegend, Oxford Nanopore Technologies Plc, Adaptive Biotechnologies, Pacific Biosciences, Standard BioTools, Parse Biosciences, Mission Bio, CD Genomics, Singleron Biotechnologies, Psomagen, BGI Group
North America was the largest region in the multiomics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multiomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the multiomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The multiomics market consists of revenues earned by entities by providing services such as experimental design, sample preparation, data analysis, and data generation. The market value includes the value of related goods sold by the service provider or included within the service offering. The multiomics market also includes sales of instruments, consumables and reagents, microarrays, bioinformatics workstations and servers, and imaging systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Multiomics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multiomics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multiomics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The multiomics 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 historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.