Global Optical Genome Mapping Market 2023-2030

Global Optical Genome Mapping Market 2023-2030

Global Optical Genome Mapping Market Size, Share & Trends Analysis Report by Product (Consumables and Instruments), by Application (Genome Assembly, Structural Variation Detection, Microbial Strain Typing, Haplotype Phasing, and Others), and by End Users (Research & Academic Institutions, Biotechnology & Pharmaceutical Companies, Clinical Laboratories, and Others), Forecast Period (2023-2030)

Global optical genome mapping market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). Optical genome mapping used in the field of molecular cytogenetics, has the potential to replace conventional testing methodologies in clinical diagnostics. The growing adoption of cytogenetic/molecular genetics technologies with improved standard diagnostics is the key factor supporting the growth of the market globally. Dubbed ‘New Generation Cytogenetics’, optical genome mapping, when compared to conventional diagnostic techniques, offers better resolution and can detect a wider range of genetic abnormalities. Hence, the market players are also focusing on introducing next-generation genetic testing tools that further bolster the market growth. For instance, in July 2023, the Centre for Cellular & Molecular Biology (CCMB) in Hyderabad, India launched an innovative high-end next-generation genetic testing tool called 'Optical Genome Mapping' (OGM) that may discover genomic anomalies causing a variety of hereditary diseases in humans.

Segmental Outlook

The global optical genome mapping market is segmented on the product, application, and end users. Based on the product, the market is sub-segmented into consumables and instruments. Based on the application, the market is sub-segmented into genome assembly, structural variation detection, microbial strain typing, haplotype phasing, and others (improving de novo plant genome assemblies, identifying genetic abnormalities, diagnosing non-hematological cancers). Further, based on end-users, the market is sub-segmented into research and academic institutions, biotechnology & pharmaceutical companies, clinical laboratories, and others. Among the applications, the genome assembly sub-segment is anticipated to hold a considerable share of the market. The rise in the development of next-generation sequencing technologies has significantly boosted the results of genome assembly that have mostly been applied in a post-processing stage after contig assembly.

The Research and Academic Institutions Sub-Segment is Anticipated to Hold a Considerable Share of the Global Optical Genome Mapping Market

Among the end users, the research & academic Institutions sub-segment is expected to hold a considerable share of the global optical genome mapping market. The segmental growth is attributed to the growing influence of optical mapping in recent decades to illustrate its importance in genomic research. Research and academic Institutions provide researchers with a unique data set that will help them assess the true potential of genetics-based, precision medicine approaches to guide everyday patient care, as well as to generate new insights to guide the discovery and development of potential new therapies. For instance, in August 2022, Mount Sinai Health System and the Icahn School of Medicine at Mount Sinai launched a new human genome sequencing research project called the Mount Sinai Million Health Discoveries Program with the Regeneron Genetics Center (RGC), part of the industry-leading, New York-based biotechnology company Regeneron.

Regional Outlook

The global optical genome mapping market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent growth opportunity owing to the adoption of optical genome mapping in research institutions and pharmaceutical companies contributing to market growth.

The North America Region is Expected to Hold a Prominent share in the Global Optical Genome Mapping Market

Among all regions, the North American region is anticipated to dominate the market over the forecast period. Regional growth is attributed to a strong presence of biotechnology and pharmaceutical companies, extensive government funding for genomics research, and a robust healthcare infrastructure. Optical genome mapping has expanded as the public's understanding of prenatal testing has grown. OGM is a novel technology that outperforms existing methods by detecting all sorts of structural variants (SVS), including copy number variations (CNVs).

Market Players Outlook

The major companies serving the optical genome mapping market include Bionano Genomics, Inc., OpGen, Inc., PerkinElmer, Inc., Nabsys, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Premas Life Sciences entered into a distribution agreement with US-based Bionano, a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine.

Further, in January 2023, Bionano Genomics formed a collaboration with Nvidia to improve data processing speed to reduce the time and cost associated with secondary data analysis for Bionano's OGM workflow. The partners will combine Nvidia’s RTX 6000 Ada Generation GPU with Bionano’s OGM products, aiming to develop on-premises and cloud-based solutions to keep pace with the anticipated data generation needs of high-throughput OGM workflows.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global optical genome mapping market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.