Multiomic Market

Multiomic Market Outlook for 2024 to 2034

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.

• High demand for multiomic solutions in pharmaceuticals and biotech sectors for insights into drug discovery and development.
• Clinical diagnostics is witnessing a surge in multiomic technology adoption for accuracy in disease diagnosis and personalized treatments.
• Multiomic applications are boosting agri-genomics, facilitating enhanced crop breeding programs and agricultural productivity.
• Environmental monitoring embraces multiomic aspects to understand ecosystem dynamics and address pollution challenges.
• Nutrigenomics is leveraging multiomic techniques to develop tailored dietary interventions, resulting in steady growth in the nutrition and wellness sectors.
• Bioinformatics services catering to multiomic data analysis and interpretation are accelerating growth in the computational biology segment.
• Startups and niche players specializing in multiomic platforms are diversifying the market landscape and contributing to its expansion.

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

Diverse Applications of Multiomics Drive its Profitability in Various Fields

Despite the healthy growth of multiomics market with heavy demand in omics sectors, several factors are slowing down the market.

• Clinical Laboratories are increasingly adopting multiomic analysis, boosting their sales and increasing the accuracy of their diagnoses.
• Agricultural research institutions and companies are adopting multiomic technologies to meet the uprising need for advanced crop breeding programs and sustainable agriculture practices.
• Governments and industries are turning to multiomic approaches in environmental monitoring and remediation, seeking more effective solutions for ecosystem management challenges.
• The need for personalized dietary recommendations based on genetic and metabolic profiles is fueling the demand for multiomics in the nutrition and wellness sector.
• The computational biology market is seeing increased sales of multiomic data analysis tools, as researchers require advanced algorithms for interpreting complex biological datasets.
• Academic research institutions are hiking demand for specialized equipment and reagents as they adopt multiomic technologies.
• Demand for integrated multiomic solutions that offer seamless data integration and analysis capabilities has increased in the biotechnology and life sciences sectors.

Challenges Impeding Growth in the Multiomic Market

• High costs of equipment, reagents, and data analysis tools, especially in resource-limited settings have pushed the adoption of multiomic technology.
• Data interpretation and analysis complexity require specialized infrastructure and expertise, hindering the implementation of multiomic approaches.
• Limited standardization and interoperability of multiomic platforms and data formats may impede the implementation of multiomic approaches.
• Regulatory uncertainties surrounding the usage of multiomic technologies in clinical settings may hinder market growth due to stringent approval processes.
• Insufficient awareness and understanding of multiomic approaches among healthcare professionals, researchers, and policymakers may hold back the market.
• Limited scalability of multiomic technologies may restrict their applicability in large-scale studies or industrial applications, impacting market penetration.

Category-wise Insights

Multiomics Services Provide Specialised Expertise and Analysis

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%

• Multiomics service providers offer specialized expertise and consultation to interpret complex data and provide tailored solutions to clients.
• Service providers offer customized multiomic analysis packages that cater to diverse research objectives and industry requirements, enhancing their significance in the global market.
• Multiomics service providers ensure quality assurance and validation throughout the analysis process, instilling confidence in clients regarding the accuracy and reliability of results.
• Key companies are providing continuous support and training to clients, aids in efficient utilization of multiomic technologies, and ensures ongoing collaboration and satisfaction.

Precise Cellular Insights and Diverse Applications Paved the way for the Upliftment of Single-Cell Multiomics Technology

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%

• Unparalleled resolution and precision, which allow analysis of cellular heterogeneity at the individual cell level, are offered by single-cell multiomics technologies.
• Single-cell multiomics technologies provide valuable insights into intricate cellular dynamics and regulatory networks, helping in understanding disease mechanisms, drug responses, and developmental processes.
• Single-cell multiomics approaches are enabling personalized medicine initiatives by profiling individual cells within heterogeneous tissues, thus facilitating the identification of biomarkers, therapeutic targets, and patient-specific treatment strategies.
• Expanding research landscape across various disciplines, such as oncology, immunology, neuroscience, and developmental biology, demands high-resolution multiomic analyses at the single-cell level to unravel complex biological processes and disease pathways

Country-wise Insights

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%

Extensive Network of Medical Institutions and Universal Coverage in South Korea Boost Healthcare Sector

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

Japan's Emphasis on Patient-Centeredness Positions it as a Significant Player in Omics Research

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 meticulous research 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.

Multi-Stakeholder Research System in the United Kingdom Aids the growth of the Multiomic Market

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.

Rapid Growth and Significant Government Investments in China to Accelerate Market Growth

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 Multiomic Market in the United States is Evolving With Reputed Biotech Companies

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.

Competitive Landscape

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

• On February 24, 2024, Vizzhy CEO Dr. Vishnuvardhan unveiled the world's first Multiomics Lab in Bangalore, marking a breakthrough in healthcare innovation. The initiative was announced during the soft launch event of the Vizzhy Multiomics platform, revolutionizing the approach to understanding and treating metabolic disorders.
• On October 10, 2023, CENTOGENE expanded its Multiomic diagnostic portfolio with the launch of a newly-introduced Transcriptomic offering. The announcement was made in Cambridge, Mass., Rostock, Germany, and Berlin, signifying a significant advancement in life science.
• On August 29, 2023, BioSkryb Genomics partnered with Research Instruments Pte Ltd to bring industry-leading Single-Cell Technologies to Singapore and Southeast Asia. The strategic distribution agreement expanded access to BioSkryb's best-in-class single-cell multiomics portfolio throughout the region.

Key Companies in the Market

• Becton
• Dickinson and Company
• Thermo Fisher Scientific Inc.
• Illumina, Inc
• Danaher
• PerkinElmer, Inc.
• Bruker Corporation
• Qiagen N.V.
• Agilent Technologies, Inc.
• BGI Group
• Becton, Dickinson, and Company
• Shimadzu Corporation

Key Coverage in the Multiomic Market Report

• Detailed Study in Applications of Multi-Omics Analysis in Human Diseases
• Assessment of the Multi-omics data integration tools and methods
• Multiomics Analysis Software Demand Analysis
• Market Analysis on Choosing Catheter Materials- Flexible and tough
• Insights into the Difference Between Single Omics and Multi-Omics
• Call for Machine Learning Methods for Multi-Omics Data Integration

Market Segmentation

By Component:

• Instruments
• Consumables
• Software
• Services

By Multiomic Type:

• Single-Cell Multi-Omics
• Bulk Multi-Omics

By Platform:

• Genomics
• Transcriptomics
• Proteomics
• Metabolomics
• Integrated Omics Platforms

By Application:

• Oncology
• Cell Biology
• Neurology
• Immunology
• Other Applications

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Frequently Asked Questions

What is the Multiomic Market Worth in 2024?

The multiomic market is projected to be valued at US$ 3.9 billion in 2024.

What is the Sales Forecast for the Multiomics through 2034?

The multiomic market is expected to reach a valuation of US$ 15.3 billion by 2034.

At What Rate is the Multiomic Market Expected to Grow?

The multiomic market is expected to grow at a CAGR of 14.8% from 2024 to 2034.

What was the Valuation of the Multiomics Market in 2019?

The valuation of the multiomic market was 1.7 billion in 2019.

Who are the Key Manufacturers in the Market?

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.

What is the Top Type of Multiomic Research?

Single-cell multiomics is the top type, which is anticipated to grow at a 14.4% CAGR through 2034.