Multiomics Market Share

North America Market Statistics

North America industry is likely to hold largest revenue share of 40% by 2037. Its greatest revenue share is supported by the presence of important players in the area. Additionally, businesses are making attempts to increase their visibility, which is fostering the expansion of the regional multiomics market.

For example, in February 2023, Actuate Therapeutics and the U.S.-based company Tempus worked together to identify and further validate biomarker profiles in cancer patients. In this initiative, Tempus is utilizing the multiomics technique to enhance research and increase new scientific understandings.

The U.S. multiomics market is quite competitive because of the rising need for thorough biological insights driven by omics technology developments. Active R&D initiatives in academia and business, where organizations compete for funds and ground-breaking discoveries, heighten this competitiveness. For example, the University of Southern California (USC) Keck School of Medicine was awarded a major 5-year research grant from the National Institutes of Health (NIH) in 2023, totaling USD 50.3 million.

European Market Analysis

The Europe region will also encounter huge growth for the multiomics market witduring the forecast period. The expanding use of cutting-edge technologies in proteomics, metabolomics, and genomics is fueling Europe's market's strong growth. The proteomics industry in Europe was valued at USD 5,356 million in the base year.

Through supporting programs like Genome UK and the NHS Genomic Medicine Service, the United Kingdom government has demonstrated its commitment to advancing research in genomics and multiomics. To launch the Genome Research Experiences, the National Human Genome Research Institute (NHGRI) awarded around USD 3.35 million over a five-year period in September 2022.

Due to several government efforts that are encouraging the implementation of NGS technologies in the nation, the multiomics market in France is anticipated to increase in the near future. Targeted NGS has been supported by the French National Cancer Institute (INCa) as a standard therapeutic practice since 2013. Furthermore, the 2025 France genetic Medicine Initiative was a national plan put into action by France to guarantee that all patients have sufficient access to genetic medicine.

Germany's multiomics market is expanding significantly due to the active involvement of government financing for research initiatives, biotech and pharmaceutical businesses, and prestigious university institutions. In 2021, the European Molecular Biology Laboratory (EMBL) in Germany organized a number of seminars and workshops with the main objective of integrating and analyzing multiomics data.