Share on

Global Optogenetics Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Sensor Type, Techniques, Application, Light Equipment & Region – Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 1147
Pages: 175
Formats: report pdf report excel report power bi report ppt

Optogenetics Market Size (2023 to 2028)

The size of the global optogenetics market is estimated to value USD 67.85 billion by 2028 from USD 32.58 billion in 2023, growing at a CAGR of 15.80% from 2023 to 2028.

Optogenetics Market Share Insights:

  • Based on sensor type, the pH sensors segment dominated the market in 2022.
  • Based on technique, the channelrhodopsin segment had the leading share of the market in 2022.
  • Based on application, the neuroscience segment accounted for the major share of the market in 2022.
  • Based on light equipment, the LEDs segment led the market in 2022.
  • North America was the largest regional segment in the global market in 2022.
  • The European region held the second-largest share of the worldwide market in 2022. 

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 optical 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 worldwide, the rise in research institutes, and growing awareness for effective treatment procedures propel the global optogenetics market growth.

According to Pan American Health Organization (PAHO), the United States of America, Canada, Uruguay, Suriname, Honduras, Bolivia, and Cuba were among the countries with the highest number of deaths due to neurological conditions in 2019. According to the United Nations (UN), an estimated 1 billion people worldwide suffer from neurological conditions. The rising demand for light therapy treatment for treating chronic disease pain and the wide usage of optogenetics in the neurological field propel the global optogenetics market growth. Existing technological advancements such as wireless microchips and the growing use of optogenetics in neuroscience are favorable signals to the market's growth rate. As per the World Health Organization (WHO), in 2017, an estimated 300 million people were affected by depression globally which is the primary cause of disability.

In addition, factors such as the growing prevalence of launching new applications in the biotechnology field with advanced technology and growth in the scale of healthcare centers are ascribed to drive the development of the global optogenetics market. Furthermore, The growing number of neuropsychiatric disorder cases is further expected to strengthen the market growth. According to Alzheimer’s Disease International, an estimated 55 million people worldwide lived with dementia in 2020, and it is estimated to reach 78 million by 2030 and 139 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.

Furthermore, the available funds required for 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 yearly. About 10 million people had Parkinson's disease in 2016. In addition, the growing adoption rate of optogenetics technology in behavioral and neuroscience is another significant factor boosting the market growth.

MARKET RESTRAINTS:

However, the lack of skilled technicians to manage the systems slightly restricts the market's growth rate. 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:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Sensor Type, Technique, Application, Light Equipment, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

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:

  • Genetically Encoded Calcium Indicators
  • pH Sensors
  • Neurotransmitter Release
  • Voltage-Sensitive Fluorescent Proteins

Based on sensor type, the pH sensors segment is anticipated to show the fastest growth throughout the forecast period. 

 Optogenetics Market - By Techniques:

  • Archaerhodopsin
  • Channelrhodopsin
  • Halorhodopsin

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 fuel this segment's growth.

Optogenetics Market - By Application:

  • Retinal Disease Treatment
  • Cardioversion
  • Neuroscience
  • Behavioral Tracking and Pacing

Based on the application, the segment of neuroscience is anticipated to hold substantial revenue over the planned years. Variables such as advances in neuroscience and the growing prevalence of neurological diseases are attributed to high growth.

Optogenetics Market - By Light Equipment:

  • Lasers
  • LEDs
  • Others

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 why they were not widely adopted in the optogenetics sector was the difficulty 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 limiting the market segment's growth. However, a new group of fiber-coupled LEDs provides significantly higher fiber-coupled light intensities. Therefore, there are many advances in LED technologies and their implementations. For treating 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:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the optogenetics market in North America held the major share of the worldwide market in 2022. The U.S. market is one of the most significant countries worldwide for optogenetics. 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.

The optogenetics market in Europe had the second-largest worldwide market share in 2022 and is predicted to grow at a healthy CAGR during the forecast period.

However, among these regions, the Asia-Pacific optogenetics market is expected to be the fastest-growing regional market worldwide during the forecast period. Large-scale CRO activities are being done in the area, supporting the Asia-Pacific market's growth.

The optogenetics market in Latin America held a considerable share of the global market in 2022 and is expected to pick up the pace during the forecast period.

The MEA optogenetics market is anticipated to grow at a moderate CAGR in the coming years as this region is still in this technology's adoption phase.

KEY MARKET PLAYERS:

Some of the companies playing a leading role in the global optogenetics market profiled in this report are Coherent Inc., NoldusThorlabs Inc.Cobalt Inc., Scientifica, Bruker, Laserglow technologies, Regenxbio Inc., Gensight, Addgene, UPenn Vector Core, and Jackson Laboratories.

RECENT MARKET DEVELOPMENTS:

  • In August 2015, Boehringer Ingelheim and Circuit Therapist collaborated to develop a new optogenetics technology platform for obesity medicines.
  • In November 2015, RetroSense Therapeutics received $6Mn Series B funding from multiple RST-001 clinical development organizations for Retinitis pigmentosa treatment.
  • Bruker Corporation, a leading manufacturer of Scientific Instruments, has applied optogenetics in their optical device NeuraLight 3D to examine neural connectivity and neural network functioning.
  • In 2014, the BRAIN program was proposed as a private-public-funded campaign to improve the understanding of the human brain. In 2014, the U.S. federal budget committed $100 million to the BRAIN initiative, increasing funding by $100 million annually from 2014. These programs will, therefore, assist the market in achieving positive growth.

Please wait. . . . Your request is being processed

FAQ's

How big is the optogenetics market?

The global optogenetics market size was worth USD 24.3 billion in 2021.

What is the growth rate of the optogenetics market?

During the forecast period, the global optogenetics market is expected to grow at a CAGR of 15.8%

Which region accounted for the major share of the optogenetics market?

North America captured the largest share of the global optogenetics market in 2021.

What are the companies playing a leading role in the optogenetics market?

Coherent Inc., Noldus, Thorlabs Inc., Cobalt Inc., Scientifica, Bruker, Laserglow technologies, Regenxbio Inc., Gensight, Addgene, UPenn Vector Core, and Jackson Laboratories are some of the noteworthy companies in the optogenetics market.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample