The Asia Pacific Multiomics Market would witness market growth of 16.2% CAGR during the forecast period (2023-2030).
Academic institutions and research organizations often compete for funding for multiomics research projects. This competition can be intense, as securing research grants is crucial for advancing studies in genomics, transcriptomics, proteomics, and other omics disciplines. Researchers and institutions compete to publish groundbreaking studies and discoveries in multiomics. High-impact publications are essential for recognition and securing further research opportunities.
Pharmaceutical and biotechnology companies compete to leverage these data for drug discovery and development. They seek to identify potential drug targets and biomarkers that can lead to the creation of novel therapies. Competition is fierce among companies offering multiomics services and solutions. They vie for market share by providing researchers and clinicians with cutting-edge technologies, data analysis tools, and comprehensive services.
According to the data provided by India’s National Investment Promotion and Facilitation Agency, India is among the leading destinations for biotechnology worldwide and one of the largest in Asia Pacific. India's biotechnology sector is expected to reach $92 billion in 2023, up 15% from the previous year. One of the top locations for bio innovation and biomanufacturing is poised to be India. It is seen as a rising industry and a crucial component of India's goal to have a $5 trillion economy by 2024. Therefore, increased growth in the biotechnology sector in Asia Pacific countries will subsequently help expand the market in the region.
The China market dominated the Asia Pacific Multiomics Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $318.8 million by 2030. The Japan market is showcasing a CAGR of 15.5% during (2023 - 2030). Additionally, The India market would register a CAGR of 16.9% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Multiomics Market is Predict to reach $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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