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Optical Genome Mapping Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Optical Genome Mapping Market
As per the report, the optical genome mapping market size has grown exponentially in recent years. It will grow from $0.14 billion in 2023 to $0.17 billion in 2024 at a compound annual growth rate (CAGR) of 29.4%. The optical genome mapping market size is expected to see exponential growth in the next few years. It will grow to $0.49 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%.
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Precision Medicine Driving Growth In The Optical Genome Mapping Market
The increasing demand for precision medicine is expected to propel the growth of the optical genome mapping market going forward. Precision medicine is an approach to healthcare that customizes medical treatment and prevention strategies to individual characteristics such as genetic makeup, lifestyle, and environment. Precision medicine demand is driven by the rising prevalence of chronic diseases, advancements in genomic technologies, increasing investment and funding, and patient demand for personalized care. optical genome mapping enhances the capabilities of precision medicine by providing a detailed and accurate understanding of the genomic alterations associated with various diseases. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing demand for precision medicine is driving the growth of the optical genome mapping market.
Development Of Optical Genome Mapping-Based LDTs For Enhanced Diagnostic Capabilities
Major companies operating in the optical genome mapping market are developing optical genome mapping-based laboratory-developed tests (LDT) to enhance diagnostic capabilities and offer more accurate genomic insights. Optical genome mapping-based laboratory-developed tests (LDTs) are diagnostic assays designed and implemented within individual clinical laboratories using optical genome mapping (OGM) technology. For instance, in September 2022, Bionano Genomics Inc., a US-based company providing genome analysis software, launched optical genome mapping-based LDT for facioscapulohumeral muscular dystrophy (FSHD). The OGM-based LDT will enable Bionano Laboratories to offer services to customers seeking to implement OGM into their diagnostic routines and for research applications with hospitals, pharmaceutical companies, and other parties.
The optical genome mapping market covered in this report is segmented -
1) By Product: Instruments, Consumables And Reagents, Software, Services
2) By Application: Structural Variant Detection, Genome Assembly, Microbial Strain Typing, Other Applications
3) By End-User: Biotechnology And Pharmaceutical Companies, Clinical Laboratories, Academic Research Institutes, Other End-Users
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Major companies operating in the optical genome mapping market are Agilent Technologies Inc., Illumina Inc., PerkinElmer Genomics, Bio-Rad Laboratories Inc., Qiagen N.V., Cerba Healthcare, GenScript Biotech Corporation, 10x Genomics Inc., Oxford Nanopore Technologies plc, Pacific Biosciences of California Inc., NanoString Technologies Inc., MedGenome, Element Biosciences, Bionano Genomics Inc. , Stratos Genomics, BioSkryb Genomics, Source Genomics, Genoox, Nucleome Informatics Private Limited, Praxis Genomics LLC, Phase Genomics Inc., Daicel Arbor Biosciences, Nabsys, OpGen, Genohub Inc.
Contents of the report:
1. Executive Summary
2. Optical Genome Mapping Market Report Structure
3. Optical Genome Mapping Market Trends And Strategies
4. Optical Genome Mapping Market - Macro Economic Scenario
5. Optical Genome Mapping Market Size And Growth
…..
27. Optical Genome Mapping Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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