Optical Genome Mapping Market Latest Trends, Size, Share, Trends, Outlook By 2033
Optical genome mapping (OGM) is a cutting-edge genomic analysis technique that involves creating high-resolution, large-scale maps of Deoxyribonucleic Acid (DNA) molecules to identify structural variations and genome architecture. This technology leverages optical methods to visualize and analyze long strands of DNA, allowing for the detection of large-scale structural variations such as insertions, deletions, duplications, inversions, and translocations, which are often difficult to identify with traditional sequencing methods.
Sizing and Forecast
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 growth in the historic period can be attributed to increasing demand for advanced genomic analysis tools and techniques, increasing research on large-scale genome identification, increasing number of collaborations between instrument manufacturers and hospitals, adoption of optical genome mapping in research institutions and pharmaceutical companies and cost-effectiveness and efficiency lead 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 growth in the forecast period can be attributed to advancements in genomic research, increasing demand for precision medicine, rising government funding and initiatives, robust healthcare infrastructure, and increasing prevalence of genetic diseases and cancer. Major trends in the forecast period include advanced OGM services, genomic research initiatives, advancements in DNA mapping technologies, technological advancements, and advancements in data analysis technologies such as AI and ML for genomic data processing.
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Segmentation & Regional Insights
The optical genome mapping market covered in this report is segmented –
1) By Product: Instruments, Consumables And Reagents, Software, Services
2) By Application: Structural Variant Detection, Genome Assembly, Microbial Strain Typing, Other Applications
3) By End-User: Biotechnology And Pharmaceutical Companies, Clinical Laboratories, Academic Research Institutes, Other End-Users
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.
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Major Driver Impacting Market Growth
The increasing demand for precision medicine is expected to propel the growth of the optical genome mapping market going forward. Precision medicine is an approach to healthcare that customizes medical treatment and prevention strategies to individual characteristics such as genetic makeup, lifestyle, and environment. Precision medicine demand is driven by the rising prevalence of chronic diseases, advancements in genomic technologies, increasing investment and funding, and patient demand for personalized care. optical genome mapping enhances the capabilities of precision medicine by providing a detailed and accurate understanding of the genomic alterations associated with various diseases. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing demand for precision medicine is driving the growth of the optical genome mapping market.
Key Industry Players
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.
The optical genome mapping market report table of contents includes:
1. Executive Summary
2. Optical Genome Mapping Market Characteristics
3. Optical Genome Mapping Market Trends And Strategies
4. Optical Genome Mapping Market – Macro Economic Scenario
5. Global Optical Genome Mapping Market Size and Growth
…………………
32. Global Optical Genome Mapping Market Competitive Benchmarking
33. Global Optical Genome Mapping Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Optical Genome Mapping Market
35. Optical Genome Mapping Market Future Outlook and Potential Analysis
36. Appendix
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