May 29, 2024
Global Optical Genome Mapping Market

The Global Optical Genome Mapping Market is Poised for Rapid Growth in Trends by Artificial Intelligence

The global optical genome mapping market involves technologies that map the whole genomes of organisms without any sequencing. Optical genome mapping helps in detecting various structural variations in genomes such as large insertions, deletions, inversions, and translocations that sequencing struggles to identify. It plays a key role in advancing research areas like cancer, inherited genetic disorders, personalized medicine, and clinical diagnostics.

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 21.% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Optical Genome Mapping Market 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. Key players like Bionano Genomics offer solutions like Saphyr that help in developing new diagnostic tests, accelerating research in areas of genetic diseases, cancer, and cell and gene therapy.
The growing demand for Optical Genome Mapping stems from the increasing applications in understanding genetic disorders, cancer research, and agricultural and livestock improvement programs. It helps clinicians in evaluating tumors, guiding cancer treatment strategies, and developing personalized therapies. Various medical institutes and clinical laboratories are adopting optical genome mapping for efficient disease screening and diagnosis.

Global expansion of the optical genome mapping market is aided by the rising healthcare investment and improved access to advanced technologies. Market leaders are focusing on partnerships, collaborations, and geographical expansion plans across countries in Americas, Europe, Asia Pacific, and Middle East & Africa. This is increasing the affordability and adoption of optical genome mapping solutions worldwide.

Market Key Trends

One of the major trends in the optical genome mapping market is the integration of artificial intelligence. Companies are developing optical genome mapping platforms integrated with AI and machine learning capabilities. AI aids in automating the analysis of large and complex optical maps. It helps in identifying structural variations with high accuracy and speed. This is improving diagnostic efficiency and therapeutic guidance. The incorporation of AI is expected to make optical genome mapping more affordable and accessible globally over the coming years.

Porter’s Analysis

Threat of new entrants: Medium: High capital requirement and expertise needed. Bargaining power of buyers: High: Presence of substitute options. Bargaining power of suppliers: Medium: Presence of differential expertise with companies. Threat of new substitutes: High: Technological advancements allowing scope of improvement. Competitive rivalry: High: Large number of competitors investing in R&D.

Geographical regions with highest market share:

North America holds the highest share in the global optical genome mapping market currently, contributing over 50% market share in 2024, valued at US$ 54.4 million. Abundance of genome research initiatives by government and private organizations, along with presence of major players in the region, drives its dominance.

Fastest growing region:

Asia Pacific region is poised to witness the fastest growth during the forecast period, with a CAGR of over 26%. This can be attributed to increasing investments by countries such as China and India in genomic research to address their growing population’s healthcare needs. Establishment of genomics centers and expanding biopharma industry in the region presents lucrative opportunities.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.