Market Research Future (MRFR) has published a cooked research report on the “Optical Genome Mapping Market” that contains information from 2019 to 2032. The Optical Genome Mapping Market is estimated to register a CAGR of 28.60% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Optical Genome Mapping Market— Bionano Genomics, Nucleome Informatics Private Limited, Praxis Genomics, LLC, SourceBio International Limited (Source BioScience), MedGenome, INRAE (French Plant Genomic Resources Center (CNRGV)), PerkinElmer (PerkinElmer Genomics), Genohub Inc., Hofkens Lab, Cerba.
Optical Genome Mapping Market Highlights
The global Optical Genome Mapping Market is accounted to register a CAGR of 28.60% during the forecast period and is estimated to reach USD 1.15 billion by 2032.
The market has experienced significant growth, largely propelled by the rising need for sophisticated genomic analysis tools and methodologies. Moreover, continuous improvements in optical mapping technology have been essential to the growth of the industry. Optical genome mapping has become more accurate and efficient due to advancements in high-resolution photography, DNA labeling, and data analysis algorithms. This has made it a desirable option for a variety of applications, such as genotyping, genome assembly, and structural variation identification.
Segment Analysis
The global Optical Genome Mapping Market has been segmented based on Product, Application, and End-User.
Based on Product, the market is segmented into Instruments, Consumables and Reagents, Software, and Services. The Services segment was attributed to holding the largest market share in 2023. The optical genome mapping (OGM) sector is experiencing robust growth owing to heightened demand, ongoing advancements, versatile applications, and its pivotal contribution to the progression of genomics research and applications. Increasingly, various end-users are seeking OGM services for both genomics research and clinical purposes. As genomics research evolves and fresh challenges arise, the need for sophisticated OGM services is projected to expand in the foreseeable future.
Based on the Application, the Optical Genome Mapping Market has been segmented into Structural Variant Detection, Genome Assembly, Microbial Strain Typing, and Others. The Structural Variant Detection segment was expected to hold the largest market share in 2023. Structural variants (SVs) denote large-scale genomic alterations that can significantly impact an individual's health, affecting their susceptibility to genetic diseases and their response to treatments. The high-resolution imaging capabilities and ability to analyze individual DNA molecules render optical genome mapping particularly well-suited for detecting structural variants. According to research published by Springer Nature Limited in March 2021, the total count of SVs identified per genome has surged from 2, 1-2, 5k in the 1000 Genomes Project to over 27k in 2021 multi-platform sequencing endeavors. Recent contributions from the Pan-Cancer Analysis of Whole Genomes (PCAWG) Consortium have yielded a substantial number of matched tumor-normal genomes. Furthermore, multi-platform analyses have revealed existing structural variant gaps in cancer variant databases like COSMIC.
Based on the End-User, the Optical Genome Mapping Market has been segmented into Biotechnology and Pharmaceutical Companies, Clinical Laboratories, Academic Research Institutes, and Others. The Academic Research Institutes segment was expected to hold the largest market share in 2023. These institutions are increasingly embracing OGM technologies to propel their genomics research endeavors forward. Researchers across disciplines such as genetics, molecular biology, and biotechnology are continuously in pursuit of tools and methodologies that offer a more comprehensive understanding of genomes. For example, in April 2021, during the American College of Medical Genetics and Genomics' annual clinical genetics meeting at Columbia University Medical Center (CUMC), the significance of OGM technology was emphasized in comparison to traditional routine methods. In a study involving 100 Acute Myeloid Leukemia (AML) patients, OGM demonstrated 100 percent concordance.
Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Optical Genome Mapping Market Research Report
Regional Analysis
The global Optical Genome Mapping Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Optical Genome Mapping Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Optical Genome Mapping Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Optical Genome Mapping Market comprises the Middle East, Africa, and Latin America.
The largest market share for the Optical Genome Mapping Market was maintained by the North American regional sector. This region has emerged as a leader in genomics research and biotechnological advancements, with OGM playing a crucial role in shaping this landscape. The growth of the market can be attributed to several key factors, including the strong presence of leading biotechnology and pharmaceutical companies, significant government funding allocated for genomics research, and a robust healthcare infrastructure. For instance, in September 2019, the National Institute of Health awarded USD 29.5 million to establish and maintain the most comprehensive human genome reference sequence. Additionally, the rising prevalence of genetic diseases and the growing demand for personalized medicine have stimulated the adoption of OGM technologies in clinical settings. As reported by Care4Rare Canada, there exist approximately 7,000 rare genetic diseases affecting over 3,000,000 Canadians and their families. Among these conditions, 66% result in significant disability, while 75% affect children (totaling over 900,000 children impacted by rare diseases in Canada). Alarmingly, 50% of these rare diseases are associated with premature mortality.
Moreover, the Europe market has been persistently growing over the forecast period. In Europe, the optical genome mapping market is being propelled by a heightened emphasis on precision medicine, companion diagnostics, and advancements in genome analysis methodologies. The incidence of new cancer cases saw a 2.3% increase from 2020, reaching 2.74 million in 2022. Correspondingly, cancer-related deaths rose by 2.4% compared to 2020, as per estimates from the European Commission's European Cancer Information System (ECIS). Recent estimates for EU Member States indicate that 31% of men and 25% of women are projected to receive a cancer diagnosis before the age of 75, while 14% of men and 9% of women are anticipated to succumb to cancer before reaching the age of 75. Consequently, the escalating number of cancer cases is amplifying the demand for oncology precision medicine, thereby fueling the growth of the examined market
The optical genome mapping market in Asia Pacific is experiencing positive growth due to several factors. Notably, the surge in genetic disorders and chronic ailments, including cancer, contributes significantly to the demand for advanced genomic analysis methods like optical genome mapping. As per the Indian Council of Medical Research's National Cancer Registry Programme (ICMR-NCRP), the estimated number of cervical cancer cases in India surpassed 340,000 in 2023. Presently, around 1.4 million new cancer cases are diagnosed annually, with projections indicating a rise to 2 million by 2040. Moreover, China's overall five-year cancer survival rate has seen an increase from 40.5 percent in 2015 to 43.7 percent in 2022.
Furthermore, the rest of the world's Optical Genome Mapping Market is divided into the Middle East, Africa, and Latin America. Governments and private sector entities in the Middle East, Africa, and Latin America are boosting investments in healthcare infrastructure and research capabilities. This involves setting up genomic research centers, fostering academic partnerships, and initiating funding programs to bolster genomics research and technological advancements. These investments cultivate an environment conducive to the expansion of the Optical Genome Mapping market, enriching research capabilities and encouraging the adoption of cutting-edge technologies.
Key Findings of the Study
- The global Optical Genome Mapping Market is expected to reach USD 1.15 billion by 2032, at a CAGR of 28.60% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the rising incidence of genetic disorders and chronic diseases, such as cancer.
- Based on Product, the Services segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.
- Bionano Genomics, Nucleome Informatics Private Limited, Praxis Genomics, LLC, SourceBio International Limited (Source BioScience), MedGenome, INRAE (French Plant Genomic Resources Center (CNRGV)), PerkinElmer (PerkinElmer Genomics), Genohub Inc., Hofkens Lab and Cerba are the key market players.
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Base Year | 2021 |
Companies Covered | 15 |
Pages | 128 |
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