Multi-omics Market size was over USD 2.5 Billion in 2023 and is likely to exceed USD 15.5 Billion by the end of 2036, growing at over 15.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of multi-omics is assessed at USD 2.87 Billion.
The multi-omics market's growth is accelerated by the growing need for targeted medicines and personalized medicine. Together, all of the previously listed elements support the market's growth. The predicted response for genome-targeted therapy by European Society for Medical Oncology was 2.73% in 2006, rose to 5.48% by the end of 2018, and has now risen to 7.04% in 2020. The anticipated response for genome-informed therapy was 3.33% in 2006, 7.68% in 2018, and 11.10% in 2020.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
15.1% |
Base Year Market Size (2023) |
USD 2.5 Billion |
Forecast Year Market Size (2036) |
USD 15.5 Billion |
Regional Scope |
|
End-Use (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies)
By 2036, academic & research institutes segment is estimated to capture over 60% multi-omics market share. Over the projected time, it is expected that a rise in studies and research centered on multi-omics approaches such as transcriptomics, proteomics, metabolomics, and genomics will propel the segment's expansion. Additionally, funds and investments are being provided to this segment in order to carry out research in this area.
For example, the Multi-omics for Health and Disease Consortium was founded in September 2023 by the National Institutes of Health, which also funded USD 50.3 million for multi-omics research. Professionals from a number of universities, including Washington University, Columbia University, and the University of California, are part of this consortium.
Application (Cell Biology, Oncology, Neurology, Immunology)
During 2024-2036, oncology segment in the multi-omics market is anticipated to grow at more than 18.1% CAGR. Growth in this market is expected to be driven by the increasing prevalence of cancer and the expanding application of multi-omics for cancer. Numerous initiatives are being made by businesses and researchers to use multi-omics techniques to aid cancer sufferers. For example, the biotech startup Freenome initiated the Sanderson Study in September 2022, utilizing real-world data and its multiomics platform to detect certain malignancies. Segment growth is further supported by strategic expenditures made by major players in cancer research.
Product & Service (Products {Instruments, Consumables, Software}, Services)
In multi-omics market, products segment is poised to cross USD 1.8 Billion by the end of 2036. The increasing number of product launches and the spike in developments are expected to fuel the segment's expansion. Businesses are collaborating to innovate and develop new tools and platforms for multiomic research and analysis. For example, Bio-Techne and Lunaphore announced in April 2023 that they would be working together to build a fully automated spatial multiomics solution.
Over the course of the projection period, these developments are anticipated to support the segment's growth in multi-omics market. Furthermore, the creation of more effective, user-friendly goods as a result of technical improvements has improved accessibility for researchers.
Our in-depth analysis of the multi-omics market includes the following segments:
Product & Service |
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Type |
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Platform |
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Application |
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End-Use |
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North America Market Statistics
North America region in multi-omics market is anticipated to dominate revenue share of around 40% by the end of 2036. Its greatest revenue share is supported by the presence of important players in the area. Additionally, businesses are making attempts to increase their visibility, which is fostering the expansion of the regional multi-omics market.
For example, in February 2023, Actuate Therapeutics and the U.S.-based company Tempus worked together to identify and further validate biomarker profiles in cancer patients. In this initiative, Tempus is utilizing the multiomics technique to enhance research and increase new scientific understandings.
The U.S. multi-omics market is quite competitive because of the rising need for thorough biological insights driven by omics technology developments. Active R&D initiatives in academia and business, where organizations compete for funds and ground-breaking discoveries, heighten this competitiveness. For example, the University of Southern California (USC) Keck School of Medicine was awarded a major 5-year research grant from the National Institutes of Health (NIH) in 2023, totaling USD 50.3 million.
European Market Analysis
The Europe region will also encounter huge growth for the multi-omics market witduring the forecast period. The expanding use of cutting-edge technologies in proteomics, metabolomics, and genomics is fueling Europe's market's strong growth. The proteomics industry in Europe was valued at USD 5,356 million in the base year.
Through supporting programs like Genome UK and the NHS Genomic Medicine Service, the United Kingdom government has demonstrated its commitment to advancing research in genomics and multi-omics. To launch the Genome Research Experiences, the National Human Genome Research Institute (NHGRI) awarded around USD 3.35 million over a five-year period in September 2022.
Due to several government efforts that are encouraging the implementation of NGS technologies in the nation, the multi-omics market in France is anticipated to increase in the near future. Targeted NGS has been supported by the French National Cancer Institute (INCa) as a standard therapeutic practice since 2013. Furthermore, the 2025 France genetic Medicine Initiative was a national plan put into action by France to guarantee that all patients have sufficient access to genetic medicine.
Germany's multi-omics market is expanding significantly due to the active involvement of government financing for research initiatives, biotech and pharmaceutical businesses, and prestigious university institutions. In 2021, the European Molecular Biology Laboratory (EMBL) in Germany organized a number of seminars and workshops with the main objective of integrating and analyzing multi-omics data.
Important companies apply for product approvals in order to expand as a means of improving production and development efforts as well as to broaden the product's appeal and availability in a variety of geographic locations. Furthermore, a number of businesses are purchasing smaller competitors in an effort to improve their market share.
Author Credits: Radhika Pawar
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