The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Multiomics Global Market Report 2024, the multiomics market is expected to show significant growth in the forecast period.

• Market Size Surge: The multiomics market has witnessed significant growth, expanding from $2.78 billion in 2023 to $3.27 billion in 2024, with a compound annual growth rate (CAGR) of 17.7%.
• Historical Drivers: This surge can be attributed to increased biomedical research, enhanced funding from both government and private sectors, rising prevalence of chronic diseases, technological advancements, and improved computational tools for data analysis.

Continued Expansion Predicted for the Future

• Forecasted Growth: The market is expected to continue its upward trajectory, reaching $6.28 billion by 2028, with a CAGR of 17.8%.
• Growth Factors: Key contributors to this future growth include advancements in artificial intelligence (AI) and machine learning (ML), expansion of clinical applications, the growing biopharmaceutical industry, the emergence of integrated multiomics platforms, and increasing applications in agricultural and environmental research.

Major Trends Shaping the Market

• Technological Advancements: Continuous technological innovations and the launch of new commercial multiomics platforms are driving the market forward.
• Spatially Resolved Multiomics: The adoption of spatially resolved multiomics analysis is gaining traction, particularly in biopharmaceutical research and development.
• Clinical Diagnostics Expansion: The application of multiomics in clinical diagnostics is expanding, further fueling market growth.

View More On The Multiomics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/multiomics-global-market-report

Personalized Medicine: A Key Market Driver

• Rising Demand: The growing demand for personalized medicine, which tailors healthcare treatments to individual patients based on their genetic, environmental, and lifestyle factors, is a major driver of the multiomics market.
• Technological Contributions: Multiomics provides a detailed understanding of an individual’s genetic, molecular, and metabolic profile, allowing healthcare providers to customize treatments.
• Industry Impact: For example, in 2023, the FDA approved 16 novel personalized therapies for rare diseases, a significant increase from 6 in 2022, demonstrating the rising importance of personalized medicine.

Key Players in the Multiomics Market

• Leading Companies: Major companies in the multiomics market include Bayer AG, Thermo Fisher Scientific Inc., Novartis AG, Becton Dickinson and Company, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., and others.
• Innovation Focus: These companies are continuously innovating, developing advanced platforms and expanding their capabilities to stay competitive in the rapidly growing market.

Innovative Single-Cell Multiomics Platforms Transforming Research

• Single-Cell Advancements: Single-cell multiomics platforms are at the forefront of innovation, allowing researchers to conduct large-scale studies with high sample integrity.
• Example: Becton, Dickinson, and Company’s BD Rhapsody HT Xpress, launched in February 2023, exemplifies this innovation. This high-throughput platform allows for the isolation, barcoding, and analysis of single cells with greater efficiency and flexibility, enhancing research outcomes.

Strategic Acquisitions Strengthen Market Position

• Notable Acquisition: In October 2022, Clinical Microbiomics acquired MS-Omics, bolstering its capabilities in microbiome analysis and solidifying its leadership in the field.
• Comprehensive Solutions: This acquisition enables Clinical Microbiomics to offer a comprehensive suite of multiomics solutions, providing deeper insights into the role of the microbiome in health and disease.

Market Segmentation and Regional Insights

• Segmentation: The multiomics market is segmented by type (Single-Cell Multiomics, Bulk Multiomics), platform (Genomics, Transcriptomics, Proteomics, Metabolomics, Integrated Omics Platforms), application (Diagnostics, Drug Discovery and Development, Personalized Medicine, AgriGenomics, Other Applications), and end user (Academics and Research Organizations, Pharmaceutical and Biotechnology Companies, Clinical Research Organizations, Other End-Users).
• Regional Analysis: North America was the largest region in the multiomics market in 2023, while Asia-Pacific is expected to be the fastest-growing region during the forecast period.

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