The Latin American optogenetics market is forecasted to be worth USD 6.24 billion by 2027 from USD 3.08 billion in 2022, growing at a CAGR of 15.20% from 2022 to 2027.
The field of science subjected to nerves called neuroscience and having human and animal behavior called behavioral science are primarily driving the Latin American optogenetics market growth. Technology advancement is increasing rapidly. In addition, an increase in diseases relating to neurons, such as neurological disorders and a regular boost in emotional disturbance, drive the regional market's growth. Rapid usage in various schools, colleges, and research labs across the region operates the Latin American optogenetics market.
Growth in clinical trials or drug manufacturing is likely to increase the Latin American optogenetics market demand. In the coming years, investments by SMEs and large enterprises are foreseen to propel the Latin American optogenetics market growth.
Moral principles for the welfare of animals hinder the growth of the Latin American optogenetics market to some extent. The high incidence of under-the-counter sales in drug manufacture is also a challenge of the Latin American optogenetics market. Thus, there are several severe challenges faced by drug manufacturing companies.
This research report on the Latin American optogenetics market has been segmented & sub-segmented into the following categories:
By Sensor Type:
By Light Equipment:
The Latin American region is expected to account for a moderate share in the global market during the forecast period. In Latin America, the government's favorable actions knowing the optogenetics treatment, advanced technology for the procedure, and an increase in nerve disorders are the factors that support the most substantial value.
The Brazilian optogenetics market accounted for the largest share in the Latin optogenetics market in 2020. The Mexican optogenetics market is expected to showcase a promising CAGR during the forecast period. Argentina and Chile and predicted to grow at a moderate growth rate.
KEY MARKET PLAYERS:
A few notable companies operating in the Latin American optogenetics market profiled in this report are Coherent Inc., Noldus, Thorlabs Inc., Cobalt Inc., Scientifica, Bruker, Laserglow technologies, Regenxbio Inc., Gensight, Addgene, UPenn Vector Core, and Jackson Laboratories.
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