The
global multiomics market has witnessed significant growth in recent years owing
to increasing adoption of omics technologies such as genomics, epigenomics,
proteomics, and metabolomics. Multiomics allows simultaneous analysis of
different molecular levels of biological systems and provides a more
comprehensive understanding of the biological mechanisms. Key advantages of
multiomics technology include high-throughput data generation, ability to study
complex biological systems holistically, and development of personalized
medicines.
The growing applications of multiomics in precision medicine, drug discovery,
diagnostics, and biological research have fueled the demand for multiomics
platforms.
The global multiomics market size is estimated to be valued at US$
7.65 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast
period from 2024 to 2031.
Key Takeaways
Key players operating in the global multiomics market are BD, Thermo Fisher
Scientific Inc., Illumina, Inc, Danaher, PerkinElmer Inc., Shimadzu
Corporation, Bruker, QIAGEN, Agilent Technologies, Inc., and BGI.
The
Global
Multiomics Market Size offers lucrative opportunities in the areas of
clinical diagnostics, prenatal testing, oncology, and neurosciences due to
increasing demand for personalized medicines. Multiomics approaches have the
potential to accelerate drug discovery through better target identification and
validation.
Globally, North America dominates the multiomics market owing to presence of
leading market players, advanced research infrastructure, and high adoption of
omics technologies. However, Asia Pacific is expected to witness highest growth
during the forecast period due to improving research capabilities, healthcare
reforms, and growing R&D investments in countries such as China and India.
Market Drivers
Rising prevalence of chronic diseases is a major driver for the multiomics
market. Multiomics finds wide application in understanding disease mechanisms,
identifying disease subtypes and biomarkers, and development of targeted
therapeutics. Furthermore, increasing government funding for omics research,
technological advancements, and integration of multiomics with artificial
intelligence are expected to propel the market growth over the forecast period.
PEST
Analysis
Political: Regulations regarding data usage and privacy related to genomic and
molecular data can impact the multiomics market.
Economic: Funding available for multiomics research from government and private
sectors influences market growth.
Social: Public understanding and acceptance of multiomics applications in
healthcare and other domains affects its adoption.
Technological: Advancements in IT solutions for storage, analysis and
integration of large and complex multiomics datasets are crucial for the
market.
The global multiomics market in terms of value is concentrated majorly in
developed regions like North America and Europe. North America accounts for the
largest share currently due to presence of major players and availability of
funding for research activities.
Asia Pacific region is expected to experience the fastest growth during the
forecast period driven by increasing investments from emerging economies like
China and India to set up national omics programs and multiomics infrastructure.
Growing population, rising healthcare expenditure and initiatives by
governments in the region are promoting adoption of multiomics technologies.
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Multiomics Market
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