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Multiomics Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Multiomics Market
As per the report, the multiomics market size has grown rapidly in recent years. It will grow from $2.78 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The multiomics market size is expected to see rapid growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.
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Rising Demand For Personalized Medicine Fuels Growth Of The Multiomics Market
The rising demand for personalized medicine is expected to propel the growth of the multiomics market going forward. Personalized medicine refers to a medical approach that customizes healthcare decisions and treatments to individual patients based on their genetic, environmental, and lifestyle factors. This personalized medicine approach is rising due to technological advancements, increasing demand for targeted therapies, and global healthcare improvements. Multiomics helps personalized medicine by providing a detailed understanding of an individual's genetic, molecular, and metabolic profile, enabling healthcare providers to tailor treatments based on the specific characteristics of each patient. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to 6 in 2022. Therefore, the rising demand for personalized medicine is driving the growth of the multiomics market.
Innovative Single-Cell Multiomics Platforms Transforming Research
Major companies operating in the multiomics market are developing advanced single-cell multiomics platforms to enable scientists to run large-scale studies without sacrificing sample integrity. Single-cell multiomics platforms integrate various omics with artificial intelligence capabilities, allowing users to seamlessly analyze and interpret complex biological data through sophisticated algorithms and machine learning techniques. For instance, in February 2023, Becton, Dickinson, and Company, a US-based medical device company, launched the BD Rhapsody HT Xpress, a high-throughput single-cell multiomics platform. This innovative system enables scientists to isolate, barcode, and analyze single cells at a high sample throughput, accommodating up to eight times more cells than previous versions of BD single-cell analyzers. The BD Rhapsody HT Xpress System ensures no sample loss, offering flexibility to analyze multiple samples and different cell sizes and types simultaneously, such as stem cells or cancer cells, enhancing researchers' ability to gain more insights in less time.
The multiomics market covered in this report is segmented -
1) By Type: Single-Cell Multiomics, Bulk Multiomics
2) By Platform: Genomics, Transcriptomics, Proteomics, Metabolomics, Integrated Omics Platforms
3) By Application: Diagnostics, Drug Discovery And Development, Personalized Medicine, AgriGenomics, Other Applications
4) By End User: Academics And Research Organization, Pharmaceutical And Biotechnology Companies, Clinical research Organization, Other End-Users
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Major companies operating in the multiomics market are Bayer AG, Thermo Fisher Scientific Inc., Novartis AG, Becton Dickinson and Company, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., Shimadzu Corporation, Bruker Corporation, Bio-Techne, Azenta Life Sciences, 10x Genomics, Ginkgo Bioworks, Abcam limited, BioLegend, Oxford Nanopore Technologies Plc, Adaptive Biotechnologies, Pacific Biosciences, Standard BioTools, Parse Biosciences, Mission Bio, CD Genomics, Singleron Biotechnologies, Psomagen, BGI Group
Contents of the report:
1. Executive Summary
2. Multiomics Market Report Structure
3. Multiomics Market Trends And Strategies
4. Multiomics Market - Macro Economic Scenario
5. Multiomics Market Size And Growth
…..
27. Multiomics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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