The Europe Multiomics Market would witness market growth of 14.6% CAGR during the forecast period (2023-2030).
Tumor heterogeneity, the presence of diverse cell populations within a single tumor, is a significant challenge in cancer treatment. Multiomics data integration enables the comprehensive characterization of intra-tumours heterogeneity, helping researchers understand the genomic, transcriptomic, and proteomic differences between tumor cell subpopulations. For instance, in breast cancer, multiomics analysis has revealed that tumors can exhibit significant heterogeneity in gene expression, protein profiles, and genetic mutations. This understanding has led to the development of therapies that target multiple aspects of tumor heterogeneity, increasing the likelihood of treatment success.
Personalized medicine leverages this data to tailor treatment approaches to an individual's genetic, transcriptomic, and proteomic profile, maximizing therapeutic efficacy and minimizing adverse effects. It aids in the development of crops with increased nutritional value, pest and disease resistance, and yield. In the agri-food sector, it is used for quality control, traceability, and food safety. It is crucial for optimizing bioprocesses, leading to increased production of biofuels, pharmaceuticals, and industrial enzymes. In synthetic biology, multiomics data guides the design of synthetic organisms for various purposes, including bioremediation and biosensors.
The adoption of multiomics approaches has steadily increased across various domains, driven by the need for more comprehensive and data-rich insights into complex biological systems. Developing high-throughput sequencing, mass spectrometry, and other omics technologies has made it cost-effective and feasible to generate large-scale multiomics datasets. Increasing computational power and developing sophisticated bioinformatics tools enable the storage, analysis, and interpretation of multiomics data on a previously unimaginable scale. The proliferation of open-access biological databases facilitates the collection, storage, and retrieval of multiomics data, making it a valuable resource for researchers.
As per the data provided by the International Trade Administration, the Italian biotech industry is expanding, with a revenue of $12.3 billion in 2020. The majority of businesses, 376 out of 777, or 48%, are in the red biotech (life sciences) category. Pharmaceutical and medical device biotech businesses contribute 74% of the turnover with expanded research in diagnosis and cutting-edge therapies. There are over 200 cutting-edge start-ups, as well as roughly 100 public research institutions, university labs, and 47 scientific and research hospitals (IRCCS). Therefore, increased investment in the biotech industry in Europe will help in the expansion of the market in the region.
The Germany market dominated the Europe Multiomics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $370.5 million by 2030. The UK market is exhibiting a CAGR of 13.6% during (2023 - 2030). Additionally, The France market would experience a CAGR of 15.4% during (2023 - 2030).
Based on Type, the market is segmented into Bulk Multiomics, and Single-cell Multiomics. Based on Product & Service, the market is segmented into Product (Instruments, Consumables, and Software), and Services. Based on End-use, the market is segmented into Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, and Others. Based on Platform, the market is segmented into Genomics, Transcriptomics, Proteomics, Metabolomics, and Integrated Omics Platforms. Based on Application, the market is segmented into Cell Biology, Oncology, Neurology, and Immunology. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Multiomics Market will Hit $5.7 Billion by 2030, at a CAGR of 15%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc, Illumina, Inc., Danaher Corporation, PerkinElmer, Inc., Bruker Corporation, Qiagen N.V., Agilent Technologies, Inc., BGI Group, Becton, Dickinson, and Company, Shimadzu Corporation.
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