Optical Genome Mapping (OGM) Market
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Optical Genome Mapping Market was valued at USD 131.5 million in 2023 and is estimated to grow at a CAGR of 24.1% between 2024 and 2032. High market share can be attributed to factors such as increasing demand for precision medicine, rising government initiatives & funding, and growing collaborations between technology providers for genomic services.
Also, advancements in optical mapping technologies such as improvements in speed, accuracy, and scalability, contribute significantly to the market's expansion. For instance, in January 2023, Bionano Genomics, Inc, launched multiple new products and advancements for its optical genome mapping (OGM) workflow that offer enhanced robustness in sample preparation. This enable to decrease the turnaround time for DNA labelling and imaging, and improvements in throughput and quality metrics. Thus, availability of such products and services along with the rising prevalence of genetic disorders & cancers has fuelled the need for advanced genomic tools, thereby accelerating the market expansion.
Optical genome mapping is a genomic technology that involves the analysis and mapping of DNA molecules at a high resolution. It provides a comprehensive view of the structure and arrangement of genomic DNA. By analysing the patterns and lengths of labelled DNA fragments, researchers can create a detailed map of the genome, identifying structural variations, copy number variations, and other genomic features.
Report Attribute | Details |
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Base Year: | 2023 |
Optical Genome Mapping Market size in 2023: | USD 131.5 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2023 - 2032 CAGR: | 24.1 |
2023 Value Projection: | USD 883.5 Million |
Historical Data for: | 2018 to 2023 |
No of Pages: | 160 |
Tables, Charts & Figures: | 261 |
Segments Covered: | Products & Services, Application, Solution, End-User, & Region |
Growth Drivers: |
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Pitfalls Challenges: |
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The COVID-19 pandemic had a moderately positive impact on the optical genome mapping market. The urgency to understand the genomic makeup of the SARS-CoV-2 virus and its variants led to an acceleration of genomic research. OGM's ability to provide rapid and high-resolution genomic data became valuable for identifying and monitoring emerging variants of the virus. Furthermore, rapid development of COVID-19 vaccines and antiviral drugs relied on comprehensive genomic data, and technologies including optical genome mapping contributed to these efforts.
However, the substantial financial investment required for acquiring and maintaining optical genome mapping instruments, along with associated services, poses a challenge for research institutions, laboratories, and healthcare facilities that may hinder the market progress.
Based on products & services, the global market is segmented into services & software, instruments, and consumables & reagents. The services & software segment held the largest market share of 46.5% in 2023.
Based on application, the optical genome mapping market is bifurcated into research and diagnostics. The research segment held the largest market revenue of USD 89.9 million in 2023.
Based on solution, the optical genome mapping market is classified into structural variant detection, genome assembly, microbial strain typing, and other solutions. The structural variant detection segment is expected to reach the largest market revenue of USD 414.9 million by 2032.
Based on end-user, the optical genome mapping market is segmented into pharmaceutical & biotechnology companies, research & academic institutes, diagnostic laboratories, and other end-users. The research & academic institutes segment dominated the market in 2023 and is anticipated to grow at CAGR of 23.2% over the forecast years.
In 2023, North America held a significant share of 43.3% in the optical genome mapping market.
The optical genome mapping industry is characterized by diverse players competing in the healthcare industry. Bionano Genomics, Inc., Nucleome Informatics Private Limited, and Nabsys, Inc, account for significant market share. These prominent players adopt a combination of strategic initiatives such as investing in research and development, technological advancements, geographical expansion, product diversification, and regulatory compliance to maintain a competitive edge in the market.
The foremost players operating in the optical genome mapping industry is as mentioned below:
By Application, 2018 – 2032 (USD Million)
By Solution, 2018 – 2032 (USD Million)
By End-user, 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries:
OGM industry size was USD 135.1 million in 2023 and is expected to register 24.1% CAGR from 2024-2032 due to the increasing demand for precision medicine, along with the rising government initiatives & funding worldwide.
The services & software segment held 46.5% share of the OGM industry in 2023 and is expected to register an appreciable CAGR from 2024-2032 as they offer tailored solutions to meet specific research or clinical needs.
North America held 43.3% share of the optical genome mapping industry in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the robust funding mechanisms, including government grants, private investments, and venture capitals in the region.
Bionano Genomics, Inc., Nucleome Informatics Private Limited, Nabsys, Inc., Praxis Genomics LLC, PerkinElmer, Inc., OpGen, Inc., SourceBio International Limited, and MedGenome Labs Private Limited, are some of the major optical genome mapping companies worldwide.