New York, United States , June 18, 2024 (GLOBE NEWSWIRE) -- The Global Optical Genome Mapping Market Size is to Grow from USD 107.5 Million in 2023 to USD 1400.5 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 29.27% during the projected period.
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Optical genome mapping is an innovative cytogenomic technology for analyzing large eukaryotic genomes and structural chromosomal features at a high level of resolution. It has emerged as a complementary approach, offering a unique perspective on the genome’s architecture, ultimately providing critical information in genetic research. It has clinical applicability for the genetic diagnosis of facioscapulohumeral muscular dystrophy (FSHD). It is used as cytogenomic tool for prenatal diagnostics and provides important information for prenatal decision-making and genetic counseling. The integration of omics technology such as genomics, epigenomics, and transcriptomics, provides a comprehensive understanding of the genome, leading to insights into disease mechanisms. Further, the intersection of optical genome mapping (OGM) and personalized medicine holds immense promise for the future of healthcare. The incorporation of optical genome mapping into precision medicine, drug development, and testing by biotechnology and pharmaceutical firms is significantly contributing to driving the optical genome mapping market. The extensive funding by government organizations across the globe and the genomics research for the improvement of health outcomes and the creation of a genome library to make genomic research more sustainable, secure, and equitable are driving the market. Additionally, the adoption of optical genome mapping in research institutions and pharmaceutical companies contributed to driving the optical genome mapping market. On the contrary, the high cost of laboratory equipment and the high capital investment are restraining the market for optical genome mapping. The stringent regulations around the ethical and legal use of genomics data are also hampering the market growth.
Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the "Global Optical Genome Mapping Market Size, Share, and COVID-19 Impact Analysis, By Product (Instruments, Consumables & Reagents, Software, and Services), By Application (Structural Variant Detection, Genome Assembly, Microbial Strain Typing, and Others), By End-User (Biotechnology and Pharmaceutical Companies, Clinical Laboratories, Academic Research Institutes, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The services segment dominates the market with the largest revenue share in 2023.
Based on product, the global optical genome mapping market is segmented into instruments, consumables & reagents, software, and services. Among these, the services segment dominates the market with the largest revenue share in 2023. The customized services of OGM like data processing and interpretation during optical genome mapping provide tailored solutions to meet specific research or clinical needs with accurate reading and results. The growing number of outsourced service vendors is anticipated to drive the market.
The structural variant segment held the largest market share through the forecast period.
Based on the application, the global optical genome mapping market is segmented into structural variant detection, genome assembly, microbial strain typing, and others. Among these, the structural variant segment held the largest market share through the forecast period. As nest-generation cytogenetics in the human genome, optical genome mapping is a highly promising technique to identify all kinds of structural variations in the genome that supports precise disease diagnosis and prognosis, aiding in the characterization of cancer subtypes and guiding targeted therapies. The growing research on large-scale genome identification with the use of OGM is driving the market in the structural variant segment.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The emphasis on the R&D of genomics and financial support for the R&D activities of optical genome mapping is augmenting the market growth. The presence of several research institutes, universities, and academic centers in the region for conducting genomic research is contributing to market growth. Furthermore, the increasing prevalence of genetic diseases in the region augments market demand for optical genome mapping.
Europe region is expected to grow the fastest during the forecast period. The increasing focus on precision medicine, companion diagnostics, and advancement in genome analysis techniques are further driving the optical genome mapping market in the region. The growing emphasis on genomic research and technologies by the key market players in the region is driving the market demand for optical genome mapping. Further, the adoption and the use of optical genome mapping by hospitals are expected to drive the market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global optical genome mapping market are Bionano Genomics, Nucleome Informatics Private Limited, PerkinElmer (PerkinElmer Genomics), Praxis Genomics, LLC, OpGen, Nabsys, Genohub Inc., SourceBio International Limited (Source BioScience), MedGenome, INRAE (French Plant Genomic Resources Center (CNRGV)), Hofkens Lab, Cerba Healthcare, Illumina Inc., Oxford Nanopore Technologies, and Other Key Players.
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Recent Developments
- In July 2023, Bionano Genomics, Inc. announced the Stratys system for high throughput optical genome mapping (OGM) and VIA software for visualization, interpretation, and reporting of genome analysis for OGM, microarrays, and next-generation sequencing (NGS) data in one integrated software platform. VIA further incorporates these data into an intuitive and powerful workflow for hematologic malignancies.
- In June 2022, Arima Genomics, Inc., the leader in 3D genomics, announced the launch of the Arima Library Prep Module. The launch of the Arima Library Prep Module provides customers with a robust, end-to-end 3D genomics protocol based on a well-established Hi-C workflow, enabled them to unlock new insights for disease research, genome assembly, and other research applications.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global optical genome mapping market based on the below-mentioned segments:
Global Optical Genome Mapping Market, Product Analysis
- Instruments
- Consumables & Reagents
- Software
- Services
Global Optical Genome Mapping Market, Application Analysis
- Structural Variant Detection
- Genome Assembly
- Microbial Strain Typing
- Others
Global Optical Genome Mapping Market, End-User Analysis
- Biotechnology and Pharmaceutical Companies
- Clinical Laboratories
- Academic Research Institutes
- Others
Global Optical Genome Mapping Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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