The global multiomics market is gaining traction owing to increasing applications of multiomics for drug discovery and precision medicine. Multiomics is an integrative analytical approach that combines multiple omics techniques such as genomics, proteomics, metabolomics and epigenomics, which provides a comprehensive understanding of various biological attributes. It helps to gain deeper insights into disease mechanism and patient stratification which aids in developing personalized treatment approaches. Multiomics finds applications in diagnostics of various diseases including cancer, neurological disorders and infectious diseases. Rising healthcare burden of chronic diseases and increasing government and private funding for multiomics research are fueling the market growth.
The Global Multiomics Market is estimated to be valued at US$ 2.46 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global multiomics are BD, Thermo Fisher Scientific Inc., Illumina, Inc, Danaher, PerkinElmer Inc., Shimadzu Corporation, Bruker, QIAGEN, Agilent Technologies, Inc., and BGI.
There is growing demand for Global Multiomics Market Size in clinical application such as for disease diagnosis, prognosis and monitoring treatment responses. Multiomics helps in better characterization of disease at molecular level and support clinicians in developing personalized treatment approaches.
Technological advancements are allowing integration of multiple platforms to study biological samples through multi-omics approaches. Development of high throughput techniques, sophisticated bioinformatics tools and cloud computing are enhancing data analysis capability and driving wider adoption of multiomics in research and clinical settings.
Market Trends
Increasing adoption of multiomics approaches for disease subtyping and stratification: Multiomics helps in classifying diseases into molecular subtypes which aids in precision treatment decisions. It is being widely adopted for cancer subtyping.
Integration of spatial resolution into multiomics: Emergence of techniques combining imaging and omics such as spatial transcriptomics and mass spectrometry imaging provides spatially resolved molecular information supporting disease investigations.
Market Opportunities
Multiomics for drug target discovery and biomarker identification: Integration of multiomics techniques can accelerate identification of novel drug targets and biomarkers supporting precision medicine goals.
Growing relevance in personalized nutrition: Application of multiomics approaches in nutrition research provides molecular level insights into impact of diet on health offering opportunities for development of personalized dietary guidelines.
Impact of COVID-19 on Global Multiomics Market Growth
The COVID-19 pandemic had a significant impact on the growth of the global multiomics market in the initial phases. Various restrictions imposed by governments worldwide to curb the spread of the virus led to the temporary closure of research institutes and laboratories. This adversely affected the demand for multiomics products and services. However, with the progression of the pandemic, researchers began utilizing multiomics approaches to gain a better understanding of the virus and develop diagnostics, vaccines, and therapeutics. Multiomics analyses help generate massive genomic, proteomic and other types of OMICs data to unravel virus-host interactions, identify drug targets and biomarkers.
The growing importance of multiomics in COVID-19 research provided impetus to the market in the later stages of the pandemic. Various funding programs were also initiated to support multiomics studies associated with SARS-CoV-2. Going forward, continued research on COVID-19 variants is expected to sustain the demand. Additionally, the pandemic has heightened awareness about pathogen surveillance using an integrated multiomics approach. It has also highlighted the need for strengthening healthcare systems through advanced diagnostics, which will further aid market growth post-COVID. However, supply chain disruptions and shortage of skilled workforce pose challenges.
Asia Pacific: Fastest Growing Region for Global Multiomics Market
The Asia Pacific region is expected to witness the fastest growth in the global multiomics market during the forecast period. This is attributed to increasing investments by governments and private entities in omics research as well as expansions by leading market players. Countries such as China, India, South Korea and Japan have emerged as hubs for clinical and biological research in recent years. For instance, China is investing heavily in initiatives like Precision Medicine Initiative to support development of new drugs and diagnostics. In addition, growing biopharmaceutical industry, rising healthcare expenditure, and rapidly developing research infrastructure in Asia Pacific are fueling the adoption of multiomics approaches. Population growth, economic development and investments in healthcare modernization will continue to drive the multiomics market across the region over the next few years.
Europe: Major Revenue Generator for Global Multiomics Market
Europe currently dominates the global multiomics market in terms of revenue and is expected to retain its leading position throughout the forecast period. This can be credited to presence of advanced research institutes conducting multiomics analyses, availability of funding, and adoption of cutting-edge omics technologies by healthcare organizations and academia across countries. A few of the top revenue generating countries for multiomics in Europe include Germany, the UK, France, Italy and Spain. Germany has a strong base of biotechnology and pharmaceutical companies actively collaborating with academia on multiomics research projects. Whereas, the UK provides ample funding opportunities through research councils like MRC and BBSRC. Overall, Europe is at the forefront in terms application of multiomics for precision medicine and drug discovery.
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