Optogenetics Market

Market Overview:

The global optogenetics market size reached US$ 38.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 99.9 Billion by 2028, exhibiting a growth rate (CAGR) of 16.41% during 2023-2028.

Optogenetics refers to a scientific approach that includes a combination of genetics and optics technologies. It is primarily used for controlling and monitoring the biological functions of neurons and other types of cells with light sensors. This information provides insights into individual behavior and physiology, including movement, learning, memory, navigation, metabolism, respiration, and sensor processing. Optogenetics aids in clinical discoveries by shedding light on the cellular activities associated with various diseases, such as chronic pain, epilepsy, Parkinson disease, stroke, drug addiction, obsessive compulsion disorder (OCD), social dysfunction, and anxiety and depression. On account of these applications, optogenetics finds extensive utilization in the field of neurosciences.

Optogenetics Market Trends:

The increasing prevalence of neurological disorders due to various infections, ailments, genetic disorders, congenital abnormalities, and brain, nerve, and spinal cord injuries is one of the key factors currently driving the optogenetics market growth. In line with this, the introduction of fiber-coupled light-emitting diode (LED) for being incorporated into the implants to enable the untethered light delivery is acting as another major growth-inducing factor. Additionally, rapid technological advancements in neural connectivity, wireless microchip, sensors, cell phenotyping tools, and various imaging tools, like computed tomography (CT), position emission tomography (PET), and magnetic resonance imaging (MRI) to precisely evaluate organs and tissues for identifying disorders is propelling the market growth. The rising inclination of healthcare professionals toward optogenetic therapeutic methodologies on account of its cellular, spatial, and temporal precision is further contributing to the market growth. Other factors, including increasing healthcare expenditure, extensive research and development (R&D) activities in the field of neurosciences, and strategic collaborations between key players, pharmaceutical companies, and governments of various nations to implement favorable policies that support the launch of novel drugs for treating neurological diseases, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global optogenetics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on light equipment type, application and end user.

Breakup by Light Equipment Type:

• Light-emitting Diode (LED)
• Laser
   

Breakup by Application:

• Neuroscience
• Behavioral Tracking
• Retinal Disease Treatment
• Others
   

Breakup by End User:

• Hospitals
• Clinics
• Diagnostic
• Research
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Addgene, Coherent Inc., Elliot Scientific Limited, GenSight Biologics S.A., HÜBNER GmbH & Co KG, Judges Scientific plc, Laserglow Technologies, Noldus Information Technology, Regenxbio Inc., Shanghai Laser & Optics Century Co. Ltd, The Jackson Laboratory and Thorlabs Inc.

Report Coverage: