PUBLISHER: The Business Research Company | PRODUCT CODE: 1522280
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522280
Optical genome mapping (OGM) represents an innovative genomic analysis technique focused on generating high-resolution, extensive maps of Deoxyribonucleic Acid (DNA) molecules to discern structural variations and genome architecture. This cutting-edge technology employs optical methods to visualize and analyze extended DNA strands, facilitating the detection of large-scale structural variations such as insertions, deletions, duplications, inversions, and translocations, which may pose challenges for traditional sequencing methods.
The primary products within the optical genome mapping market include instruments, consumables and reagents, software, and services. Instruments encompass the hardware and machinery essential for visualizing and analyzing large DNA molecules. They find applications across various fields, including structural variant detection, genome assembly, microbial strain typing, and others, utilized by biotechnology and pharmaceutical companies, clinical laboratories, academic research institutes, and other relevant stakeholders.
The optical genome mapping market research report is one of a series of new reports from The Business Research Company that provides optical genome mapping market statistics, including the optical genome mapping industry global market size, regional shares, competitors with optical genome mapping market share, detailed optical genome mapping market segments, market trends, and opportunities, and any further data you may need to thrive in the optical genome mapping industry. These optical genome mapping market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The optical genome mapping market size has grown exponentially in recent years. It will grow from $0.14 billion in 2023 to $0.17 billion in 2024 at a compound annual growth rate (CAGR) of 29.4%. The expansion observed in the historical period can be attributed to several factors. These include the increasing demand for advanced genomic analysis tools and techniques, a rise in research focusing on large-scale genome identification, an increasing number of collaborations between instrument manufacturers and hospitals, the adoption of optical genome mapping in research institutions and pharmaceutical companies, and the cost-effectiveness and efficiency of optical genome mapping leading to rapid analysis of large genomes with high accuracy.
The optical genome mapping market size is expected to see exponential growth in the next few years. It will grow to $0.49 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%. The anticipated growth in the forecast period can be attributed to several factors. These include advancements in genomic research, increasing demand for precision medicine, rising government funding and initiatives supporting genomic studies, robust healthcare infrastructure facilitating genomic analysis, and the increasing prevalence of genetic diseases and cancer. Major trends expected in the forecast period encompass advanced optical genome mapping (OGM) services, initiatives in genomic research, advancements in DNA mapping technologies, continuous technological innovations, and advancements in data analysis technologies such as artificial intelligence (AI) and machine learning (ML) for processing genomic data.
The growing demand for precision medicine is anticipated to drive the expansion of the optical genome mapping market in the future. Precision medicine, which tailors medical treatments and preventive measures to individual characteristics such as genetics, lifestyle, and environment, is fueled by factors such as the increasing prevalence of chronic diseases, advancements in genomic technologies, augmented investment and funding, and heightened patient preference for personalized care. Optical genome mapping plays a pivotal role in advancing precision medicine by providing comprehensive and precise insights into genomic alterations associated with various diseases. For example, the FDA's approval of 16 novel personalized therapies for rare diseases in 2023, compared to six in 2022, as reported by the Personalized Medicine Coalition in February 2024, underscores the escalating demand for precision medicine and its correlation with the growth of the optical genome mapping market.
Leading companies in the optical genome mapping market are focusing on the development of optical genome mapping-based laboratory-developed tests (LDTs) to bolster diagnostic capabilities and furnish more precise genomic information. These LDTs are diagnostic assays crafted and implemented within individual clinical laboratories utilizing optical genome mapping (OGM) technology. For instance, Bionano Genomics Inc., a US-based provider of genome analysis software, unveiled an optical genome mapping-based LDT for facioscapulohumeral muscular dystrophy (FSHD) in September 2022. This offering enables Bionano Laboratories to provide services to clients seeking to integrate OGM into their diagnostic routines and research endeavors, collaborating with hospitals, pharmaceutical firms, and other stakeholders.
In October 2022, Bionano Genomics Inc. augmented its capabilities in optical genome mapping (OGM) by acquiring BioDiscovery Inc. for $100 million. This strategic acquisition integrates BioDiscovery's NxClinical software, a leading platform-agnostic solution that amalgamates next-generation sequencing (NGS) and microarray data for comprehensive variant analysis, bolstering Bionano's proficiency in OGM. BioDiscovery Inc., a US-based biotechnology company specializing in software solutions for genomic data analysis and visualization, enhances Bionano's position in the optical genome mapping market.
Major companies operating in the optical genome mapping market are Agilent Technologies Inc., Illumina Inc., PerkinElmer Genomics, Bio-Rad Laboratories Inc., Qiagen N.V., Cerba Healthcare, GenScript Biotech Corporation, 10x Genomics Inc., Oxford Nanopore Technologies plc, Pacific Biosciences of California Inc., NanoString Technologies Inc., MedGenome, Element Biosciences, Bionano Genomics Inc. , Stratos Genomics, BioSkryb Genomics, Source Genomics, Genoox, Nucleome Informatics Private Limited, Praxis Genomics LLC, Phase Genomics Inc., Daicel Arbor Biosciences, Nabsys, OpGen, Genohub Inc.
North America was the largest region in the optical genome mapping market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical genome mapping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the optical genome mapping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The optical genome mapping market includes revenues earned by entities by providing services such as structural variation detection, genome assembly, microbial strain typing, clinical diagnostics, cancer genomics bioinformatics, and data analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The optical genome mapping market also includes sales of instruments, consumables and reagents, software, and bioinformatics tools. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Optical Genome Mapping Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on optical genome mapping market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for optical genome mapping ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The optical genome mapping market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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