Multiomics Market Size, Share, Growth & Forecast 2024-2033 | Competitive Landscape

The Business Research Company recently released a comprehensive report on the Global Multiomics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 growth in the historic period can be attributed to Increased biomedical research, increased government and private funding, a rise in the prevalence of chronic diseases, technological advancements, and enhanced computational tools and software for data analysis.

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%. The growth in the forecast period can be attributed to advances in artificial intelligence and machine learning, expansion of clinical applications, growing biopharmaceutical industry, emergence of integrated multiomics platforms, and increasing use in agricultural and environmental research. Major trends in the forecast period include technological advancements, the launch of new commerical multiomics platforms, the adoption of spatially resolved multiomics analysis, adoption in biopharmaceutical research and development, and expansion into clinical diagnostics.

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Market Drivers and Trends:
The increasing prevalence of dental diseases is expected to propel the growth of the invisible orthodontics market going forward. Dental diseases encompass a wide range of conditions affecting the teeth, gums, and oral cavity. The prevalence of dental diseases is due to poor oral hygiene, high consumption of sugary and acidic foods and beverages, and limited dental care and education about oral health. Invisible orthodontics addresses various dental diseases and conditions by correcting teeth misalignment and bite irregularities. It enhances the aesthetic appeal of the smile and impacts dental health by boosting oral hygiene, lowering the chances of tooth decay and gum disease, improving functionality, and averting dental trauma. For instance, in March 2023, according to the World Health Organization (WHO), a Switzerland-based Intergovernmental organization, it is estimated that oral diseases affect close to 3.5 billion people, with 3 out of 4 affected individuals residing in middle-income countries. Further, approximately 2 billion people suffer from caries of permanent teeth, while 514 million children experience caries of primary teeth. Therefore, the growing prevalence of dental diseases drives the invisible orthodontics market.

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.

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Major Key Players of the Market:
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

Multiomics Market 2024 Key Insights:
• 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%.
• Rising Demand For Personalized Medicine Fuels Growth Of The Multiomics Market
• Innovative Single-Cell Multiomics Platforms Transforming Research
• North America was the largest region in the multiomics market in 2023

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