The size of the global optogenetics market was worth USD 24.3 Billion in 2020. This figure is estimated to worth USD 50.6 Billion by the end of 2025, growing at a CAGR of 15.80% between 2020 to 2025.
Optogenetics is a flexible and highly adaptable technique in the medical sector. It controls and monitors the cells, typically neurons in the living tissue, using optic and genetic techniques. The procedure should be processed under the guidance of an experienced person, and it is very accurate in changing the genetic code in the living thing.t These neurons will respond when light is focused on the specific cell. Also, it deals with the characteristics of normal and abnormal brain functionalities.
MARKET DRIVERS:
Increasing incidences of neurological disorders across the world, the rise in the research institutes, and growing awareness for effective treatment procedures primarily drive global optogenetics market growth.
The rising demand for light therapy treatment for treating chronic disease pain and wide usage of optogenetics in the field of neurological field propels the global optogenetics market growth. Existing technological advancements such as wireless microchips, the growing use of optogenetics in neuroscience are favorable signals to the growth rate of the market. As per the World Health Organization (WHO), in 2017, an estimated 300 million people were affected by depression globally and is the primary cause of disability.
Additionally, factors like growing prevalence to launch new applications in the biotechnology field with the advanced technology and growth in the scale of healthcare centers are ascribed to drive the development of the global optogenetics market. Y-O-Y rise in the number of neuropsychiatric disorder cases is further expected to strengthen the market growth. According to the World Alzheimer Report, in 2019, there were an estimated 50 million Alzheimer’s disease patients across the world, an increase from 152 million by 2050. Diverse initiatives have been undertaken by the organizations such as NIH and WHO; these initiatives are expected to favor the growth rate of the market.
The availability of funds required for the R &D activities and the growing incidences of mood disorders, depression, Parkinson's disease, and other related diseases are projected to accelerate the growth rate of the global optogenetics market. According to the Parkinson’s Foundation study report, around 60,000 Americans are diagnosed with Parkinson's disease every year. About 10 million people had Parkinson's disease in 2016. The growing adoption rate of optogenetics technology in the field of behavioral and neuroscience is another significant factor boosting the market growth.
MARKET RESTRAINTS:
However, the lack of skilled technicians in managing the systems is slightly restricting the demand of the market. Further, the high costs for installation and maintenance of the equipment and lack of standardization are expected to sluggish the growth of the optogenetics market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Sensor Type, Technique, Application, Light Equipment, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global optogenetics market has been segmented and sub-segmented based on the sensor type, technique, application, light equipment, and region.
Optogenetics Market - By Sensor Type:
Based on sensor type, the sensors segment is anticipated to show the fastest growth throughout the forecast period.
Optogenetics Market - By Techniques:
Based on technique type, the Channelrhodopsin segment is leading with the highest shares of the market. The adoption of sedentary lifestyles and a rise in the number of health disorders are fueling the growth of this segment.
Optogenetics Market - By Application:
Based on the application, the segment of neuroscience is anticipated to hold substantial revenue over the planned years. Variables such as various advances in neuroscience and the growing prevalence of neurological diseases are attributed to high growth.
Optogenetics Market - By Light Equipment:
Since they are cheaper, smaller, more reliable, and easy to control, LEDs are found to surpass lasers in every aspect. They are integrated into implants, enabling the delivery of untethered light. However, the major downside and the reason they were not widely adopted in the optogenetics sector was the difficulty of connecting the light with a high-efficiency fiber optic cable. Though single LEDs can emit as much as five watts of light, light is emitted in all directions, not in a coherent beam. These are among the main factors that limit the growth of the market segment. A new group of fiber-coupled LEDs, however, provides significantly higher fiber-coupled light intensities. Therefore, in both LED technologies and their implementations, there are many advances. For the treatment of cutaneous and neurological diseases, efficient LED therapies are being used.
The Laser segment is estimated to showcase a healthy rate during the forecast period.
Optogenetics Market - By Region:
Geographically, North America and predominantly the United States is the largest market for optogenetics in the world. Neuroscience and optogenetics research activities are being conducted on a large scale in the North American region.
Optogenetics in North America is expected to follow the general biotechnology market trends in the region. Europe comes second in terms of region-wise revenue.
Asia-Pacific, Latin America, and the Middle East and Africa regions are still in this technology's adoption phase. However, among these regions, Asia-Pacific is expected to be the fastest-growing regional market. Large-scale CRO activities being done in the area, which supports the growth of the Asia-Pacific market.
KEY MARKET PLAYERS:
Some of the companies playing a leading role in the global 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.
RECENT DEVELOPMENTS IN THE MARKET:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Sensor Type
5.1.1 Genetically Encoded Calcium Indicators
5.1.2 pH Sensors
5.1.3 Neurotransmitter Release
5.1.4 Voltage-Sensitive Fluorescent Proteins
5.2 By Technique
5.2.1 Archaerhodopsin
5.2.2 Channelrhodopsin
5.2.3 Halorhodopsin
5.3 By Application
5.3.1 Retinal Disease Treatment
5.3.2 Cardioversion
5.3.3 Neuroscience
5.3.4 Behavioral Tracking
5.3.5 Pacing
5.4 By Light Equipment
5.4.1 Lasers
5.4.2 LEDs
5.4.3 Others
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Coherent Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Noldus
8.3 Thorlabs Inc.
8.4 Cobalt Inc.
8.5 Scientifica
8.6 Bruker
8.7 Laserglow Technologies
8.8 Regenxbio Inc.
8.9 Gensight
8.10 Addgene
8.11 UPenn Vector Core
8.12 Jackson Laboratories
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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