The growing need for customised medicine and the necessity to find genetic variations that could have a negative impact on health are what lead to the need for optical genome mapping. Researchers can utilise optical genome mapping to find specific genes and DNA mutations in a person's DNA that can then be used to cure or diagnose disorders. Additionally, optical genome mapping can be used to investigate the genetic diversity of populations and discover fresh genetic variations that can be connected to medical disorders.

COVID-19 Impact and Market Status

The demand for optical genome mapping goods and services has decreased as a result of the COVID-19 pandemic. The market is anticipated to return to pre-pandemic levels by 2023, making the pandemic's effects transient. The optical genome mapping market is now in a boom phase in terms of market status. Additionally, a lot of industry companies are concentrating on launching new goods and services to increase their market share.

The Consumable Product Type to Emerge as the Most Lucrative Segment

Consumables as well as instruments make up the market's two main subgroups based on the type of product. Over the foreseeable term, it is anticipated that one of these, the Consumables sector, will grow faster. The necessity for high-quality genetic data and the increased demand for sequencing services are both responsible for this.

The Geno Assembly to emerge as the Most Promising Application Fragment

Structural Variation Detection, Genome Assembly, Haplotype Phasing, and Microbial Strain Typing are the four application-based segments of the market. Genome Assembly is predicted to experience the fastest growth rate of any of these applications over the projection period. The necessity for effective genome assembly tools and the rising demand for whole-genome sequencing are two aspects that can be used to explain this.

The Research & Academic Institutions Segment appears as the most emerging End-User

The market is divided into three categories based on end-users: research and academic institutions, biotechnology and pharmaceutical companies, and clinical laboratories. The grouping of Research & Academic Institutions is predicted to experience the fastest rate of growth over the course of the anticipated year. This is explained by elements like the expansion of financing for genomic research and the demand for effective genome assembly tools in academic settings.

North American region to provide Adequate Financing Avenues

Geographically speaking, the market is split into five regions: Africa, North America, South America, Europe, the Middle East, and Asia Pacific. Among these regions, North America is predicted to expand the fastest during the projected timeframe. This is explained by elements including the rise in the demand for sequencing services, the expansion of government financing for genomic research, and the concentration of sequencing businesses in this area.

The market for optical genome mapping is expanding as a result of improvements in sequencing platforms and consumables that have reduced the price of sequencing. The market for optical genome mapping is also gaining from the growing emphasis on precision medicine. The demand for sequencing services is driving growth in the market for optical genome mapping.

A method known as optical genome mapping can be used to optically map an organism's genome. This technique uses optical lasers to scan and identify DNA sequence markers, enabling precise placement of genomic sequencing gaps. Optical genome mapping can provide maps of the entire genome and smaller localised maps. Additionally, this method can be utilised to spot chromosomal abnormalities and mutations.

Optical genome mapping is superior to other sequencing technologies in a number of ways, including its high accuracy, lengthy read lengths, and affordable price. Furthermore, optical genome mapping can be utilised to create highly contiguous sequences and is ideally suited for de novo assembly. Therefore, it is projected that during the period of the forecast, the optical genome mapping market will grow tremendously.

The optical genome mapping market is anticipated to grow at a CAGR of 30.92% from 2019 to 2029, reaching a value of USD 310.43 billion.

The demand for sequencing services, technological developments in sequencing platforms and consumables, and a growing interest in precision medicine are some of the factors contributing to this expansion.

The market for optical genome mapping confronts various difficulties, such as a lack of experienced labour and a large initial investment. The data from optical genome mapping can also be difficult to store and analyse. Yet, it is anticipated that these difficulties will be overcome as sequencing technologies continue to progress, fueling future expansion of the Optical Genome Mapping market throughout the course of the forecast timeframe.

The market's major companies are QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), Illumina, Inc. (US), Danaher Corporation (US), BGI Genomics Co., Ltd. (China), Oxford Nanopore Technologies Ltd. (UK), and Macrogen, Inc. (South Korea). Because of this, this research gives a detailed study of the optical genome mapping market and offers important insights into the most recent trends and advancements in this sector.

Recent Developments in the Global Optical Genome Mapping Market

• PromethION Plus, a new product from Oxford Nanopore Technologies, was introduced in February 2019. This product delivers higher throughput and longer read lengths than the company's PromethION sequencing technology.
• The BGISEQ-500 and BGISEQ-1000, two new next-generation sequencing (NGS) platforms, were introduced by BGI Genomics in March 2019. For a number of applications, such as whole-genome sequencing (WGS), transcriptome sequencing (RNA-seq), and methylation sequencing, these technologies provide great throughput and accuracy.
• Announcing the release of its Chromium Single Cell ATAC Solution in April 2019, 10x Genomics. The genome and epigenome of a single cell can be examined with this solution.

Optical Genome Mapping Market Scope

Key segments of the Global Optical Genome Mapping Market

Product Overview (USD Billion)

• Instruments
• Consumables

Application Overview (USD Billion)

• Microbial Strain Typing
• Structural Variation Detection
• Haplotype Phasing
• Genome Assembly

End user Overview (USD Billion)

• Research & Academic Institutions
• Clinical Laboratories
• Biotechnology & Pharmaceutical Companies

Regional Overview (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• The rest of Europe

Asia Pacific

• China
• India
• Japan
• Asia-Pacific as a whole

South America

• Mexico
• Brazil
• South America's remaining countries

Middle East and South Africa