The global multiomics market was valued at US$ 2.46 Bn in 2023 and is expected to reach US$ 7.65 Bn by 2031, growing at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.
Multiomics refers to an approach in biological research where various omics technologies are combined to gain a comprehensive understanding of biological systems.
Global Multiomics Market- Regional Insights
- North America is expected to be the largest market for multiomics during the forecast period, accounting for over 42.1% of the market share in 2023. North America has established itself as the dominant region in the global multiomics market. The region is home to many leading biotechnology and life sciences companies conducting multiomics research. Several major universities and research institutions in the U.S. and Canada are undertaking advanced projects leveraging multiomics approach. This has created a robust ecosystem for technology development and innovation in the field. With the presence of major market players, North America enjoys early access to the latest multiomics platforms and techniques.
- Asia Pacific is expected to be the second-largest market for multiomics, accounting for over 31.2% of the market share in 2023. Asia Pacific exhibits strong growth potential and can emerge as the fastest growing market for multiomics. Countries like China, Japan, and India are proactively investing in building genomics and healthcare IT infrastructure. This is supplementing the growth of multiomics as it relies on the integration of large multi-dimensional datasets. Simultaneously, Asia Pacific is witnessing the expansion of healthcare and biotech industries. Local players are actively pursuing research partnerships and technology transfers in multiomics.
- Europe is expected to have a market share of 18.2% during the forecast period. The multiomics market in Europe is experiencing robust growth, driven by the increasing adoption of advanced technologies in genomics, proteomics, and metabolomics. The region's focus on personalized medicine and precision healthcare has spurred the demand for integrated multiomics solutions. Key players are investing in research and development to offer innovative platforms that enable the comprehensive analysis of biological data. Rising awareness about the potential of multiomics in disease diagnosis and treatment is further propelling market expansion. Collaborations between academia and industry, along with supportive government initiatives, are contributing to the flourishing landscape of multiomics applications, positioning Europe as a significant hub for advancements in this field.
Analyst’s Views:
The multiomics market is poised to grow significantly in the coming years. Driven by advancements in genomics, proteomics, and other "omics" technologies, the ability to analyze multiple biological data sets from a single sample is revolutionizing life science research. This integrated multiomics approach allows researchers to develop more comprehensive understanding of health and disease. In the Asia Pacific region, especially China, is expected to dominate the market due to increasing healthcare expenditure and government support from biotech research. However, North America will continue its dominance overall due to a strong foothold of global players and extensive R&D activities in the region.
On the technological front, the development of high-throughput and affordable multiomics platforms will reduce costs and drive faster market adoption. Availability of cloud-based multiomics data analysis solutions is another major opportunity to boost the market growth. However, lack of skilled workforce and high costs involved remain key challenges. Data management and integration across different omics layers is a major technological restraint. Establishing standards for multiomics data processing and sharing will help address this issue to some extent. Successful implementation of multiomics approaches in clinical research and precision medicine also depends on overcoming regulatory hurdles around data usage.
Figure 1. Global Multiomics Market Share (%), By Region, 2023
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Global Multiomics Market- Drivers
- Increasing usage of multiomics in personalized medicine: The rapidly growing field of personalized medicine is fueling the expansion of the multiomics market. Personalized medicine seeks to tailor healthcare treatments and interventions to the individual characteristics of each patient, taking into account factors such as their genetic makeup, protein expression levels, and metabolic profiles. Multiomics is the integrated analysis of multiple types of big biological data, such as genomics, epigenomics, proteomics, metabolomics, and lipidomics, to develop comprehensive insights into health and disease at a systems level.
- Growing investment and funding in multiomics research: Multiomics holds tremendous promise for advancing biological understanding and improving human health. The integration of multiple -omics data types such as genomics, transcriptomics, proteomics, and metabolomics provides a more comprehensive view of biological systems compared to single-omics This has led to increased investments from both private and public funding agencies in multiomics research. Several biopharmaceutical and diagnostics companies are devoting more resources towards multiomics as it could help drug discovery and development. For example, they are funding multiomics studies to better understand disease pathways and identify novel drug targets or biomarkers. The National Institutes of Health (NIH) in the U.S. has also identified multiomics as a top priority area.
Global Multiomics Market- Opportunities
- Emergence of cloud computing and artificial intelligence in multiomics data analysis: The emergence of cloud computing and artificial intelligence is presenting a huge opportunity for multiomics data analysis in the life sciences field. Advancements in DNA sequencing technologies and other omics tools have led to an explosion in large and complex multiomics datasets. However, analyzing these vast amounts of diverse biological data using traditional on-premise computing methods is challenging and time consuming for researchers and laboratories. Cloud computing offers vast scalable computing resources that can be easily provisioned on demand. Researchers can leverage elastic cloud infrastructures to seamlessly analyze petabytes of multiomics datasets without having to make large upfront capital investments in their own IT infrastructure.
- Scope for multiomics in development of biomarkers for disease diagnosis: The scope for multiomics in the development of biomarkers for disease diagnosis presents a great opportunity in the multiomics market. Integration of multiomics approaches like genomics, epigenomics, transcriptomics, proteomics, and metabolomics provides a more comprehensive understanding of biological systems and disease pathways. Biomarkers developed using multiomics could enable early and accurate diagnosis of diseases. This is a huge clinical unmet need as most diseases are currently diagnosed at a late stage when treatment options are limited. By combining multiple types of omics data, multiomics studies provide insights that are not possible through individual omics approaches alone. This results in discovery of novel biomarker signatures composed of genetic, protein and metabolic factors. For example, a 2021 study that integrated data from over 28,000 patient samples across 11 cancer types was able to identify biomarkers based on molecular subtypes which can help personalize cancer treatment. Such multiomics derived biomarkers have great potential to revolutionize precision diagnosis and enable stratification of patients for targeted therapies.
Global Multiomics Market Report Coverage
Report Coverage |
Details |
Base Year: |
2023 |
Market Size in 2023: |
US$ 2.46 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 - 2031 |
Forecast Period 2024 to 2031 CAGR: |
15.2% |
2031 Value Projection: |
US$ 7.65 Bn |
Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
|
Segments covered: |
- By Product & Service: Products, (Instruments, Consumables, Software), Services
- By Type: Single-cell Multiomics, Bulk Multiomics
- By Platform: Genomics, Transcriptomics, Proteomics, Metabolomics, Integrated Omics Platforms
- By Application: Diagnostics, Drug Discovery and Development, Personalized Medicine, AgriGenomics, Others (Environmental Monitoring, etc.)
- By End User: Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Clinical Research Organizations (CROs), Others (Hospitals and Diagnostic Centers, etc.)
|
Companies covered: |
BD, Thermo Fisher Scientific Inc., Illumina, Inc, Danaher, PerkinElmer Inc., Shimadzu Corporation, Bruker, QIAGEN, Agilent Technologies, Inc., and BGI
|
Growth Drivers: |
- Increasing usage of multiomics in personalized medicine
- Growing investment in and funding of multiomics research
|
Restraints & Challenges: |
- High infrastructure and setup costs of multiomics platforms
- Regulatory hurdles in the adoption of multiomics
|
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Global Multiomics Market- Trends
- Adoption of spatially resolved multiomics analysis: The adoption of spatially resolved multiomics analysis techniques is having a significant influence on the emerging multiomics market. Spatially resolved analysis allows researchers to study biological samples with single-cell or spatial resolution, revealing insights that were previously impossible to see with bulk tissue analysis. This cutting-edge approach provides a more detailed understanding of complex biological systems by capturing information about how different omics factors interact and change across spatial dimensions within a tissue sample.
- Launch of new commercial multiomics platforms with enhanced capabilities: The launch of new commercial multiomics platforms with enhanced capabilities is significantly influencing the multiomics market growth. These new platforms are allowing researchers to gain richer insights through integrated analysis of different levels of biological data. By combining various omics datasets such as genomics, transcriptomics, proteomics, and metabolomics from a single sample, they provide a more comprehensive understanding of biological systems and pathways. For example, companies are introducing platforms that can perform multiomics analysis at an unprecedented scale and depth. Instruments from companies, such as Illumina, now support the analysis of millions of cells simultaneously at single-cell resolution. This allows researchers to detect even rare cell types and changes in cellular states. Similarly, other platforms effectively combine multi-omics analysis with spatial profiling techniques using microscopy.
Global Multiomics Market - Restraints
- High infrastructure and setup costs of multiomics platforms: The high infrastructure and setup costs associated with multiomics platforms poses a significant challenge for the wider adoption of these systems, thereby restraining the growth potential of the multiomics market. Establishing a multiomics facility requires sizable investments to procure the various expensive instruments needed to perform multiomics analyses. These may include next-generation sequencing platforms, mass spectrometers, flow cytometers, microarrays and other specialized equipment. When combined with additional expenses such as laboratory space, data storage solutions, skilled personnel and maintenance contracts, the total outlay needed to establish a multiomics lab can run into millions of dollars. This high fixed cost prevents many small to medium scale research and clinical laboratories from investing in a multiomics approach.
- Regulatory hurdles in the adoption of multiomics: Regulatory hurdles associated with the adoption of multiomics technologies are posing significant challenges for the growth of the multiomics market. Multiomics involves the integration of massive amounts of diverse 'omics' data like genomics, proteomics, and metabolomics. However, developing robust analytical frameworks and validation protocols for meaningful interpretation of such complex datasets is still a work in progress. This hampers wider clinical application of multiomics. Regulatory bodies like U.S. FDA in the U.S. and EU authorities have not yet established clear guidelines for approval pathways of multiomics-based diagnostic tests. Integrating diverse datasets from multiple 'omics' domains into decision making raises analytical as well as clinical validity questions. Developing evidence for analytical and clinical validity acceptable to the regulators is a rigorous process that requires extensive research investments and trials. Many smaller biotech firms operating in the niche domains within multiomics landscape find it challenging to comply with stringent evidentiary requirements set by regulators. This acts as a deterrent for these players to rapidly translate promising multiomics leads into approved clinical products.
Figure 2. Global Multiomics Market Share (%), By Type, 2023
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Global Multiomics Market- Recent Developments
Business Development Activities by the Market Players
- On September 12, 2023, the National Institutes of Health announced that it is establishing the Multi-Omics for Health and Disease Consortium, with approximately US$11 million awarded in the consortium’s first year of funding. The new consortium aims to advance the generation and analysis of “multi-omic” data for human health research.
- In September 2023, MGI, a company specializing in life science technology and tools, launched the DCS Lab Initiative. This initiative aims to boost important scientific research and promote the development of large-scale multiomics labs. As part of this initiative, MGI is providing products for a variety of applications such as cell omics, DNA sequencing, and spatial omics, which are based on DNBSEQ technologies. These products are being offered to selected research institutions worldwide.
- On May 4, 2023, MultiOmic Health, an artificial intelligence (AI)-enabled drug discovery company, closed a (£5 million) US$6.2 million seed funding extension round to build its precision therapeutics discovery platform for metabolic syndrome-related medical conditions. The round was led by London-based Hoxton Ventures, with participation from Ada Ventures, MMC Ventures, and Verve Ventures.
- On February 3, 2023, BD (Becton, Dickinson and Company), a leading global medical technology company, announced a new instrument for single-cell multiomics analysis that will enable scientists to run high-throughput studies without sacrificing sample integrity – potentially accelerating time to discovery across a wide range of disciplines including immunology, genetic disease research, and cancer and chronic disease research.
Top Companies in the Global Multiomics Market
- BD
- Thermo Fisher Scientific Inc.
- Illumina, Inc
- Danaher, PerkinElmer Inc.
- Shimadzu Corporation
- Bruker
- QIAGEN
- Agilent Technologies, Inc.
- BGI
Definition: Multiomics assays allow researchers to analyze various biological data sets such as genome, transcriptome, proteome, or metabolome simultaneously. The major techniques involved are genomics, which studies the structure and function of genomes. Transcriptomics examines the transcripts in a genome through RNA sequencing. Proteomics looks at protein expression using techniques like mass spectrometry. Metabolomics analyzes small molecule metabolites and helps understand metabolic pathways. Combining the information obtained from different omics techniques provides the opportunity to understand how biological systems function as a whole.