Optogenetics Market, By Sensors (pH Sensors, Genetically Modified Calcium Indicators, Neurotransmitter Release, and Voltage-sensitive Fluorescent Proteins) - Global Industry Insights, Trends, Outlook, And Opportunity Analysis, 2017-2025
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Wireless microchips emerging as a new technology in optogenetics is expected to boost market growth
The major factor contributing to growth of the global optogenetics market is the rising use of optogenetics in the field of neuroscience. New developments in optogenetics such as wireless microchips have enabled convenient treatment of conditions, including depression and Parkinson’s disease. According to World Health Organization (WHO) in 2017, it is estimated around 300 million people were affected by depression globally which makes it the main cause of disability such as decrease in self-esteem, feeling bored and loss of a direction or purpose. Furthermore, rampant advancements in technology such as ultrafast laser tools, LEDs, ytterbium-based lasers are the other factors responsible in driving the growth of optogenetics market. However, reluctance in adoption of new technology by healthcare professionals due to high costs in the deployment of technology, lack of awareness regarding the tools in emerging economies, and lack of availability of genetic reagents that can be conveniently used for probing biological processes are factors hindering growth of the optogenetics market.
On the basis of region, optogenetics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold the dominant position in the optogenetics market, owing to the rising demand for light therapy treatment for chronic pain in the region. For instance, According to Montreal Neurological Institute, the light treatment therapy has the ability to control virtually any type of neuron in the brain with pulses of light, thus making it precise both, in terms of timing and type of cells affected. Thus, optogenetics has proved to have a much more targeted approach to chronic pain relief than the conventional methods, which cannot be localized with the same precision as a beam of light. Furthermore, Asia Pacific is expected to hold a major market share in the global optogenetics market during the forecast period, primarily attributed to increasing adoption of optogenetic techniques and ultrafast laser tools by several neuroscience labs.
Growing application areas for optogenetics is expected to propel market growth
Key players in the optogenetics market include Coherent, Inc., Thorlabs, Inc. Cobalt, Inc., Scientifica, Laserglow Technologies, Regenxbio, Inc., Gensight, Addgene, UPenn Vector Core, and Jackson Laboratories. The key players are focusing on strategic mergers and acquisitions and development of innovative systems. For instance, Coherent Inc. launched a new type of short pulse ultrafast laser sources that provides wide wavelength (680-1300nm) tunability of the primary output as well as simultaneous high power (1.5 watts) output at 1040 nm. Furthermore, this combination makes lasers such as Chameleon Discovery ideal for demanding multiphoton excitation application in optogenetics.
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