Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Global Multiomics Market" report has been added to ResearchAndMarkets.com's offering.
The global multiomics market accounted for USD 2.40 billion in 2023 and is expected to reach USD 11.61 billion by 2034 with a CAGR of 15.41% during the forecast period 2024-2034. The factors that will propel the market's growth include the decreasing costs of omics technologies, the growing government support and funding, the growing need for personalized medicine, and collaborative initiatives and funding support.
Governments, universities, and businesses are investing in multiomics research through cooperative projects and financial assistance to promote multidisciplinary cooperation, standardize data exchange methods, and advance multiomics technologies. For instance, in January 2024, Thermo Fisher Scientific expanded its molecular diagnostics capabilities by acquiring Mesa Biotech, Inc.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
- Market Forecast by Type, Platform, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Multiomics Market Analysis & Forecast
Type
- Single-cell Multiomics
- Bulk Multiomics
By type, the bulk multiomics segment led the global multiomics market in 2023 due to its rapid adoption in pharmaceutical R&D, personalized medicine, and precision agriculture, driven by the need for comprehensive biological insights. For example, in February 2024, Illumina launched the NovaSeq X, a revolutionary sequencing platform. The single-cell multiomics segment is expected to grow the fastest due to increasing demand for high-resolution, single-cell analysis techniques that provide insights into cellular heterogeneity and disease mechanisms.
Platform
- Genomics
- Transcriptomics
- Proteomics
- Metabolomics
- Integrated Omics Platforms
By platform, the genomics segment generated the highest revenue in 2023, driven by applications in clinical diagnostics, drug discovery, agriculture, and research, along with continuous advancements in sequencing technologies. In December 2023, Agilent Technologies acquired Resolution Bioscience, Inc. to enhance its oncology diagnostics portfolio. The metabolomics segment is projected to grow the fastest due to the recognition of metabolites as key biological regulators and advancements in analytical techniques like mass spectrometry.
Application
- Cell Biology
- Oncology
- Neurology
- Immunology
By application, the cell biology segment was the highest revenue earner in 2023, driven by the need to understand cellular functions at a molecular level. In January 2024, Qiagen released QIAseq Targeted RNA Panels for single-cell RNA sequencing. The oncology segment is expected to grow the fastest, driven by the rising incidence of cancer and demand for personalized therapies, leading to the adoption of multiomic approaches for tumor analysis and drug development.
End-user
- Academic and Research Institutes
- Pharmaceutical & Biotechnology Companies
- Others
By end-user, academic and research institutes led the market in 2023 due to significant government funding and research initiatives. For example, in November 2023, PerkinElmer acquired BioLegend, Inc. to expand its life science product line. The pharmaceutical and biotechnology companies segment is predicted to grow the fastest, driven by investment in drug discovery and the demand for precision medicine.
Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Regionally, North America is anticipated to hold the highest revenue share due to its established pharmaceutical and biotechnology industries and strong research infrastructure. The Asia Pacific region is expected to grow the fastest due to expanding biotech and pharma sectors, increasing R&D investment, and rising adoption of multiomic technologies in countries like China and India. For instance, in February 2024, Bio-Rad Laboratories released the Bio-Plex Pro Human Immunotherapy Panel 1, a multiplex assay for immunotherapy response detection.
Companies Featured
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Agilent Technologies Inc.
- Qiagen N.V.
- PerkinElmer Inc.
- Bio-Rad Laboratories Inc.
- Bruker Corporation
- Waters Corporation
- Pacific Biosciences of California Inc.
- Oxford Nanopore Technologies Ltd.
- 10x Genomics Inc.
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Eurofins Scientific
- Merck KGaA
For more information about this report visit https://www.researchandmarkets.com/r/cpnhp7
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