The Multiomic Market is expected to be valued at USD 3.9 billion in 2024 and rise to USD 15.3 billion by 2034. The market is predicted to grow at a CAGR of 14.8% during the forecast period. The rising prevalence of chronic disorders and complex health conditions necessitates holistic approach in spurring the market.
Key Market Drivers
With the objective of omics sciences to identify and quantify biological molecules for the upliftment of biological beings, there is a huge rise in the multiomics market. Some factors are mentioned below.
| Attributes | Key Statistics |
|---|---|
| Multiomic Market Value (2024) | USD 3.9 billion |
| Anticipated Market Value (2034) | USD 15.3 billion |
| Estimated Growth (2024 to 2034) | 14.8% CAGR |
Despite the healthy growth of multiomics market with heavy demand in omics sectors, several factors are slowing down the market.
Multiomics service providers ensure quality assurance and validation and the segment is expected to expand at a 14.6% CAGR through 2034.
| Attributes | Details |
|---|---|
| Top Component | Services |
| CAGR (2024 to 2034) | 14.6% |
Based on the type, the single-cell multiomics segment is projected to grow at a 14.4% CAGR from 2024 to 2034.
| Attributes | Details |
|---|---|
| Top Type | Single-Cell Multi-Omics |
| CAGR (2024 to 2034) | 14.4% |
The section analyzes the global multiomic market by country, including the United Kingdom, the United States, China, South Korea, and Japan. The table presents the CAGR for each country, indicating the expected market growth through 2034.
| Countries | CAGR through 2034 |
|---|---|
| South Korea | 17.0% |
| Japan | 16.4% |
| United Kingdom | 16.0% |
| China | 15.5% |
| United States | 15.1% |
With growing demand for personalized medicine and advancements in precision healthcare, South Korea is well-positioned to capitalize on the opportunities presented by the expanding multiomics market with a projected CAGR of 17.0% from 2024 to 2034.
Strong research infrastructure, government support, and highly skilled workforce pave the way in South Korea’s global multiomics market expansion.
Institutions such as the Korean Institute of Science and Technology (KIST), Seoul National University (SNU), and Korea Advanced Institute of Science and Technology (KAIST) have emerged as leaders in multiomics research due to their high-tech facilities and collaborations with major industry partners.
Government support through initiatives like the Bio-Vision 2016 strategy and the Bio-Cluster Development Project has further heightened the growth of the biotech sector in South Korea
With a robust infrastructure, skilled workforce, and a culture of innovation, Japan is well-positioned to continue its expansion in the multiomics market, with a CAGR of 16.4% through 2034.
Cutting-edge technologies and Future Market Insights methodologies, and has fostered numerous distinguished research labs and institutions dedicated to multiomics in Japan.
Collaborative efforts between academia, industry, and government have propelled Japan's multiomics sector forward, developing advanced analytical platforms such as mass spectrometry and next-generation sequencing technologies.
Japan's multiomics landscape is characterized by a vibrant ecosystem of startups, biotech companies, and research consortia actively contributing to the commercialization and adoption of multiomics technologies.
Key players like Takara Bio, Illumina, and Shimadzu Corporation have leveraged Japan's research capabilities to develop high-throughput platforms for genomic and proteomic analysis, catering to diverse drug discovery, diagnostics, and agricultural biotechnology applications.
The United Kingdom is upheading the multiomics market with innovative research, advanced bioinformatics tools, and exceptional infrastructure. With a CAGR of 16.0% projected through 2034, it is maintaining a steady pace of growth.
The United Kingdom has made remarkable strides in multiomics research, and its collaboration with biotechnology companies and academic institutions has led to groundbreaking discoveries and commercialization of innovative technologies.
World-class research facilities and supportive policies for the life sciences sector have attracted top talent and investment in the United Kingdom, facilitating the translation of research findings into market-ready products and services. The United Kingdom is driving advancements in personalized medicine, drug discovery, and precision agriculture, enhancing its growth in the global market.
Investments in research foundations and infrastructure to support multiomics research and development, establishing world-class institutions, and collaborating with renowned international partners, China is emerging as a key player in the market. The market in China is expected to rise at a CAGR of 15.5% from 2024 to 2034.
China has a vast population with diverse genetic backgrounds, providing an enormous pool of research subjects for multiomics studies. This has led to the expansion of advanced healthcare solutions tailored for individual genetic profiles.
China has also invested significantly in research foundations and infrastructure to support multiomics research and development, establishing world-class institutions and collaborating with renowned international partners. Ongoing strategic investments, population demand, and a collaborative approach position China as a key player in the global market.
The presence of key players in the biotech and pharma sector fuels investment and fosters partnerships, accelerating the adoption of multiomics solutions in the United States market. Thus, ongoing advancement and research fuel market growth, with an expected CAGR of 15.1%, which is expected to persist until 2034.
The rising demand for advanced healthcare solutions to tackle chronic disorders is an emerging forerunner for the United States market. With a significant burden of chronic diseases such as diabetes, cardiovascular disorders, and cancer, the multiomics approach integrating genomics, proteomics, and metabolomics offers a comprehensive understanding of disease mechanisms and personalized treatment options.
The country's robust ecosystem of research laboratories, medical centers, and biotech companies supports innovation and collaboration in multiomics research and development, leading to the discovery of novel biomarkers and the development of advanced analytical tools.
The field of omics research is marked by several renowned laboratories, which are known for their groundbreaking contributions. The Broad Institute, the Wellcome Sanger Institute, and the Max Planck Institute for Molecular Genetics are some of the most esteemed institutions in the field, particularly for their pioneering work in genomics, transcriptomics, proteomics, and other related areas.
In addition, Illumina, Thermo Fisher Scientific, and 10x Genomics are pivotal players in the multiomics market are also in row for expansion through their innovative approaches.
These companies are consistently developing advanced sequencing technologies, integrated platforms, and comprehensive analysis software, facilitating the seamless integration of multiomic data. Thus strategic collaborations with other industry leaders such as Qiagen, Agilent Technologies, and BGI Genomics are further enhancing the accessibility, scalability, and reliability of multiomics solutions, which can help market scale upwards.
Recent Developments
The multiomic market is projected to be valued at US$ 3.9 billion in 2024.
The multiomic market is expected to reach a valuation of US$ 15.3 billion by 2034.
The multiomic market is expected to grow at a CAGR of 14.8% from 2024 to 2034.
The valuation of the multiomic market was 1.7 billion in 2019.
Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Illumina, Inc., and Danaher are among the major companies actively contributing to the growth of the global multiomic market.
Single-cell multiomics is the top type, which is anticipated to grow at a 14.4% CAGR through 2034.
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