Global Optogenetics Market is poised to reach $ 37.73 million by the end of 2021

Global Optogenetics Market was worth $ 18.12 million in 2016 and estimated to reach $ 37.73 million by the end of 2021 with a CAGR of 15.80%. Optogenetics is an emerging medical technique which allows genetically defined populaces of neurons to be controlled using light, which allows the study of the characteristics of normal and abnormal brain function. The market growth for this technique is rapidly increasing as it can be applied to develop new methods to treat various illnesses such as neurological disorders, hearing impairment and retinal diseases.

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Optogenetics is the emerging field of biotechnology. Extensive research on optogenetics is being conducted in the areas of cardiology, behavioral science, neuroscience and ophthalmology. The opportunities for development in optogenetics tools and neuroscience are driving the growth for global optogenetics market.

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Optogenetics market is growing at a rapid pace. This market is driven by primarily by the growing use of these tools in the field of neuroscience and behavioral science. Factors such as growth of technology like LEDs, ytterbium-based lasers, ultrafast laser tools and others, and the increasing number of labs worldwide have resulted in the extensive adoption and application of this technique. The market is held back by factors such as expensive technology, lack of awareness of these tools in developing countries and reluctance in adoption of a new technology by the healthcare industry. Also, since the technology is in the nascent stage, the market is yet to develop properly.

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Market Segmentation

1) By Sensor Type

• Genetically Encoded Calcium Indicators

• pH Sensors

• Neurotransmitter Release

• Voltage-Sensitive Fluorescent Proteins

2)By Technique

• Archaerhodopsin

• Channelrhodopsin

• Halorhodopsin

3) By Application

• Retinal Disease Treatment

• Cardioversion

• Neuroscience

• Behavioral Tracking

• Pacing

4) By Light Equipment

• Lasers

• LEDs

• Others

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Optogenetics market is segmented based on the type of sensors, techniques, application and light equipment. Sensor types are segmented into Genetically Encoded Calcium Indicators, pH Sensors, Neurotransmitter Release, Voltage-Sensitive Fluorescent Proteins. The techniques segment contains Archaerhodopsin, Channelrhodopsin and Halorhodopsin. Application segment is further segmented into Retinal Disease Treatment, Cardioversion, Neuroscience, Behavioral Tracking and Pacing. Light equipment segment is sub-segmented into Lasers, LEDs and others. Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America and predominantly United States is the largest market for optogenetics in the world. Neuroscience and optogenetic 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 Middle East and Africa regions are still in the adoption phase of this technology. However, among these regions, Asia-Pacific is expected to be the fastest growing regional market. Large-scale CRO activities being done in the region which support the growth of Asia-Pacific Market

The key players in the optogenetics market 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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