NEWARK, Del, July 16, 2024 (GLOBE NEWSWIRE) -- The global Optical Genome Mapping Market will reach a valuation of USD 167.0 million in 2024, attributed to factors including regulatory harmonization and standardization. The trend is set to create new opportunities for the market, leading to a projected CAGR of 23.5% between 2024 and 2034, and reaching a total valuation of approximately USD 1.3 billion by 2034.
Optical genome mapping holds potential for early detection of genetic diseases and conditions. The technology enables early diagnosis, intervention, and personalized treatment strategies, by accurately identifying structural variations and chromosomal abnormalities in patient genomes.
Optical genome mapping is increasingly being utilized in cancer research and precision oncology for comprehensive profiling of tumor genomes. Optical genome mapping aids in the characterization of cancer genomes, guiding treatment decisions and drug development efforts, by identifying genomic alterations, including structural variations and copy number variations.
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Optical genome mapping is increasingly being used in rare disease research to identify novel genetic variants and disease causing mutations. The high resolution analysis capabilities of this technology facilitate the discovery of rare and elusive genetic alterations.
Integration of optical genome mapping data with clinical decision support systems enhances the utility of genomic information in healthcare settings. The integration improves diagnostic accuracy, treatment selection, and patient management, by providing clinicians with actionable insights and treatment recommendations based on genomic data.
There is a growing interest in the development of portable and point of care optical genome mapping devices. The compact, user friendly platforms enable decentralized genomic analysis, bringing genomic technologies closer to the point of patient care.
The growing adoption of optical genome mapping in clinical diagnostics is driving the expansion of genetic counseling services. Genetic counselors play a crucial role in interpreting and communicating genomic information to patients and their families, helping them make informed decisions about healthcare, family planning, and genetic testing.
Integration of optical genome mapping with liquid biopsy technologies enhances the detection and monitoring of cancer and other diseases. The integrated approach enables non-invasive detection of genetic alterations, disease progression, and treatment response, by analyzing cell free DNA and circulating tumor DNA.
Key Takeaways from the Optical Genome Mapping Market Study
- The global optical genome mapping market was valued at USD 131.5 million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 28.0%.
- The market in Korea to expand at a CAGR of 26.0% through 2034.
- By component, the instruments segment to account for a CAGR of 23.2% through 2034.
- The market in China will expand at a CAGR of 24.4% through 2034.
- In terms of application, the research segment to account for a CAGR of 23.0% through 2034.
“Optical genome mapping is finding applications in forensic genetics for human identification, ancestry determination, and forensic DNA analysis,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Optical Genome Mapping Market from the Competitive Landscape:
Prominent players in the optical genome mapping market are Bionano Genomics, Inc., Nucleome Informatics Private Limited, Nabsys, Inc., Praxis Genomics LLC, PerkinElmer, Inc., OpGen, Inc., SourceBio International Limited, MedGenome Labs Private Limited, Genohub Inc., and Cerba HealthCare, among others.
Company Portfolio
- OpGen, Inc. is a molecular diagnostics company that develops solutions for infectious disease testing, antimicrobial resistance surveillance, and genomic analysis. They offer products and services that utilize genomic technologies for pathogen detection and characterization.
- Praxis Genomics LLC is a molecular diagnostics company specializing in genetic testing services and genomic analysis. Praxis Genomics provides genetic testing for inherited disorders, cancer risk assessment, pharmacogenomics, and other clinical applications.
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Key Companies Profiled in the Optical Genome Mapping Market:
- Bionano Genomics Inc.
- Nucleome Informatics Private Limited
- Nabsys Inc.
- Praxis Genomics LLC
- PerkinElmer Inc.
- OpGen Inc.
- SourceBio International Limited
- MedGenome Labs Private Limited
- Genohub Inc.
- Cerba HealthCare
Segmentation Analysis of the Optical Genome Mapping Market
By Component:
- Instruments
- Consumables and Reagents
- Services and Software
By Application:
- Research
- Diagnostics
By Solution:
- Structural Variant Detection
- Genome Assembly
- Microbial Strain Typing
- Other Solutions
By End Use:
- Pharmaceutical and Biotechnology Companies
- Research and Academic Institutes
- Diagnostic Laboratories
- Other End Users
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Authored by
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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