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Multi-omics Market Trends

Report ID: GMI7517
Published Date: Nov 2023
Report Format: PDF

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Multi-omics Market Trends

Rising government initiatives and increased funding have emerged as pivotal drivers propelling the growth of the market. Governments worldwide are recognizing the transformative potential of multi-omics technologies in revolutionizing healthcare studies. For instance, in November 2022, the Texas A&M University System has received a USD 1.19 million grant from the National Institutes of Health (NIH) for a multidisciplinary collaboration to study the intricate connections between genomics, nutrition and health.
Moreover, advancements in omics technologies have further propelled the growth of the market. These advancements have led to unprecedented insights into the intricacies of cellular processes, disease mechanisms, and personalized medicine.

As these technologies become more sophisticated and accessible, their application in research, diagnostics, and therapeutic development has expanded, thereby driving the demand for multi-omics solutions.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global multi-omics industry was valued at USD 2.9 billion in 2022 and is estimated to grow at a CAGR of 15.2% between 2023 and 2032, owing to the continuous evolution and refinement of omics technologies.

The oncology application is poised to reach USD 3.3 billion by 2032, as the integration of genomics, transcriptomics, proteomics, and metabolomics has allowed researchers and clinicians to unravel the complex landscape of cancer at a molecular level, paving the way for more targeted therapies.

North America market accounted for a revenue share of 46.8% in 2022 and will showcase high growth rate through 2032, attributed to substantial investments in R&D, a robust infrastructure for healthcare innovation, and a proactive regulatory environment fostering the adoption of multi-omics approaches.

Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Illumina, Inc, Danaher, PerkinElmer Inc., Shimadzu Corporation, Bruker, QIAGEN, Agilent Technologies, Inc., and BGI among others.