by The global optical genome mapping market has been witnessing significant growth over the past few years. Optical genome mapping is a technique used to map structural variation in genomes, which provides beneficial information as compared to next-generation sequencing. It helps in mapping genomes at one million times scale and is increasingly being used by researchers to understand the complex rearrangements and structural variants of DNA that contribute to diseases. The technique captures high-molecular weight DNA molecules in their native, elongated state and maps genetic variations without prior knowledge of sequence.
The Global optical genome mapping market is estimated to be valued at US$ 109.9 MN in 2024 and is expected to exhibit a CAGR of 2.1% over the forecast period 2024 to 2031.
Key Takeaways:
Key players operating in the global optical genome mapping are 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.
The growing adoption of optical genome mapping in cancer research offers lucrative opportunities in the market. Optical Genome Mapping Market helps to determine structural variations associated with cancer and guides targeted therapeutic approaches. Furthermore, increasing funding for genomic research from private and government bodies supplements market growth.
Rising penetration of optical genome mapping platforms in clinical diagnostics and research activities across North America, Europe, and Asia Pacific is fueling the global expansion of the market. High accuracy and comprehensive information provided by optical genome mapping over conventional diagnostic methods drive its demand.
Market drivers: The rising demand for high accuracy diagnostics and therapeutics is a major market driver. Optical genome mapping discovers clinically relevant information missed by other techniques and aids in improving disease diagnosis and prognosis. It is increasingly being used in molecular pathology workflows for detecting genomic abnormalities associated with neurological disorders and cancer. Increasing research focus on identifying complex chromosomal rearrangements contributing to diseases also propels the adoption of optical genome mapping.
PEST Analysis
Political: Government regulation and funding play a pivotal role in driving the adoption of optical genome mapping technology in the healthcare sector. Changes in regulatory policies could either boost or hamper market growth.
Economic: Rising healthcare expenditure and growing research and development activities from biotechnology companies are fueling the demand for advanced genome analysis tools like optical genome mapping. High installation and maintenance costs pose a challenge.
Social: Growing popularity of personalized medicine combined with rising incidence of genetic disorders and cancers is raising awareness about genome analysis technologies. Optical genome mapping helps understand complex genomic alterations accurately.
Technological: Integration of next-generation sequencing with optical mapping tools is enhancing resolution and throughput of genomic structural variation detection. Advancements in optical mapping platforms, software solutions, and analysis protocols are improving accessibility and lowering costs.
Geographical concentration
North America accounts for the largest share of the global optical genome mapping market in terms of value. This can be attributed to the presence of major players and genomic research institutes in countries like the US and Canada. Substantial funding from both private and public organizations has boosted adoption of advanced genome analysis technologies.
Fastest growing region
The Asia Pacific region is poised to witness the fastest growth over the forecast period owing to increasing research focus on studying genetic variations among diverse populations. Growing healthcare expenditure, rising awareness, and government support for genomics research in countries like China, India, Japan, and South Korea is expected to drive high demand. Favorable regulatory policies and lower manufacturing costs are attracting investments from global companies.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.
