Optogenetics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026


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Introduction:

According to the Parkinson’s Foundation, around 60,000 people are diagnosed with Parkinson’s disease every year in the U.S. and more than 10 million people are suffering from the disease worldwide. According to the World Health Organization, more than 300 million people are suffering from depression globally. Depression is a major cause of disabilities and suicides, leading to around 800,000 suicidal cases all over the world. As per the Mental Health Foundation in the U.K., in 2014, around 19.7% people over the age of 14 years suffered from depression, which was around 15% higher than it was in 2013. The organization also estimated that in 2013, there were around 8.2 million cases of anxiety in the U.K. According to the American Addiction Centers, in 2014, around 7 million people in America suffered from drug use disorder and 8 million adults suffered from mental health disorders due to addiction. 

Increasing prevalence of Parkinson’s disease and other neurological dysfunctions worldwide is driving the optogenetics market. Other factors fuelling the market growth are increasing government support, technological advancements, and rise in the number of people suffering from anxiety, depression, mood disorders, and addiction globally. According to a report published in the National Center for Biotechnology Information (NCBI), in 2014, around 240 million people in the world suffered from alcohol addiction disorders. Apart from this, around 22.5% adults were addicted to tobacco smoking and 3.5% to cannabis smoking. In an attempt to reduce the percentage of disability caused by addiction behavior, anxiety, and depression, government is supporting the use of advanced technologies, such as, optogenetics for treatment of these disorders, which is boosting the growth of the optogenetics market. However, high cost of optogenetics is restraining the market growth in developing as well as underdeveloped countries. Further, several studies suggest that the blue light used in the optogenetics experiment alters gene expression in microglia, which are the immune cells of brain. This is also anticipated to hamper the growth of the optogenetics market during the forecast period. Moreover, lack of awareness regarding neurological disorders and limited technological growth in developing countries are likely to restrain the growth of the optogenetics market growth. 

The global optogenetics market can be segmented based on product type and application. On the basis of product type, the market can be further divided into actuators, sensors, and light instruments. Actuators can be classified into halorhodopsin, archaerhodopsin, and channelrhodopsin. Sensors can be categorized into GCaMP, cameleon, chloride (clomeleon), membrane gated (mermaid), and aequorin. Light instruments can be bifurcated into lasers and LEDs. Based on application, the optogenetics market can be segmented into retinal disease treatment, neuroscience, cardiovascular ailments, and pacing and hearing problem treatment. 

In terms of region, the global optogenetics market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounts for the largest share of the global optogenetics market owing to increasing prevalence of neurological disorders, such as, Parkinson’s disease and epilepsy in the region. Other factors fuelling the growth of the optogenetics market in North America are favorable government policies regarding treatment technique, rise in awareness regarding optogenetics treatment, and technological advancements. Europe accounts for a major share of the global optogenetics market due to growth in cases of disabilities and mental health disorders associated with addictive behavior in the region. Furthermore, rise in the number of cases of depression and anxiety due to stress is boosting the growth of the optogenetics market in the region. Asia Pacific is a rapidly growing market for optogenetics owing to rising incidences of memory and cardiac disorders in the region. Technological advancements in optogenetics aiming to reduce the cost of treatment is supporting the market growth in developing regions, such as, Asia Pacific and Middle East & Africa. 

Coherent Inc., Scientifica, A Judges Scientific plc Company, Thorlabs Inc., Laserglow technologies, Thomas RECORDING GmbH, Brukerm, and Gensight Biologic are some of the prominent players operating in the global optogenetics market.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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