Optogenetics Market By Optogenetic tools (Light Equipment, Actuators, Sensors), By Application (Neuroscience, Retinal disorder, Behaviour tracking, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Optogenetics Market By Optogenetic tools (Light Equipment, Actuators, Sensors), By Application (Neuroscience, Retinal disorder, Behaviour tracking, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global optogenetics market was valued at $114.1 million in 2022, and is projected to reach $196.3 million by 2032, growing at a CAGR of 5.6% from 2023 to 2032. Optogenetics is a field of neuroscience that involves the use of light to control the activity of cells that have been genetically modified to be light-sensitive. It is a technique that uses genetically encoded light-sensitive proteins called opsins, to manipulate the activity of neurons in-vivo. These opsins act as ion channels that are activated by different wavelengths of light, enabling fast and targeted manipulation of neural activity. By selectively targeting opsin expression to specific cells, researchers can investigate the neural activity and pathological behaviors. Optogenetics has been primarily used in animal models, and could be applied in the development of new therapies for neurological and psychiatric disorders in humans.

The optogenetics market growth is driven by rise in development of advanced optogenetic tools such as genetically-encoded light-sensitive proteins, increase in demand for neuroscience research, and rise in adoption of optogenetics in academic and research institutions. Optogenetics is a powerful tool for studying the brain and nervous system, therefore it is a used for neuroscience research and drives the market growth. For instance, researchers are developing new optogenetic implant for the treatment of patients suffering from multiple sclerosis. In addition, some of the preclinical studies have shown that optogenetic therapy can restore light sensitivity and improve visual function in animal suffering from inherited retinal dystrophies (IRD). Therefore, rise in demand for neuroscience research drives the growth of the market.

For instance, newly developed microbial opsins respond to different wavelengths of light, allowing researchers to target specific neurons with greater precision. Furthermore, development of novel opsins, laser sources, and imaging technologies to improve the effectiveness of optogenetic studies, further contribute toward the market growth.

In addition, development of highly efficient viral vectors for ocular gene therapy has led to new strategies for using optogenetic tools in vision restoration. Thus, advancement in optogenetic tools is driving the growth of the market. Moreover, increase in research activities for treating retinal diseases by using optogenetic tools further contribute toward the market growth. For instance, single intravitreal injection of virally-carried Multi-Characteristic Opsin (MCO-010) for the treatment of retinitis pigmentosa is under phase-2 evaluation. Thus, rise in the clinical evaluations is expected to create lucrative growth opportunities for optogenetics.

Furthermore, rise in funding activities to conduct the preclinical and clinical evaluations of new optogenetic applications by various government institutes further contribute toward the market growth. For instance, Institute for Auditory Neuroscience received funding of $2.6 million for its Cochlear Optogenetics for Auditory Research from December 2015 to February 2022 by the European Commission. Therefore, such initiatives taken by the government supports the institutes to continue the research of optogenetics, which, in turn, boosts the market growth.

However, factors that hinder the market growth include the high cost of laser sources and accessories. It further limits the adoption of optogenetics, which, in turn, restrains the market growth. For instance, Fabry-Perot Benchtop Laser Source, 405 nm, 8.0 mW, FC/PC offered by Thorlabs, Inc. costs about $1,900-$2,000. Thus, the high cost of laser sources negatively impact market growth.

On the other hand, increase in awareness about the potentials of optogenetics among researchers and wide applications of optogenetics in neuroscience research and drug discovery are expected to create immense opportunities for the optogenetics market during the forecast period.

The optogenetics market is segmented on the basis of optogenetic tools, application, and region. On the basis of optogenetic tools, the market is classified into light equipment, actuators, and sensors. As per application, the market is segmented into neuroscience, retinal disorders, behavior tracking, and others (cardiac, kidney injury, diabetic research, and others). Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major key players that operate in the global optogenetics market are Bruker Corporation, Coherent, Inc., Elliot Scientific Ltd., GenSight Biologics, Laserglow Technologies, Mightex, Prizmatix, Profacgen, Shanghai Laser & Optics Century Co., Ltd., and Thorlabs Inc.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the optogenetics market analysis from 2022 to 2032 to identify the prevailing optogenetics market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the optogenetics market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global optogenetics market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Optogenetic tools

Light Equipment
Type
LED
LASER
Actuators
Sensors

By Application

Neuroscience
Retinal disorder
Behaviour tracking
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Mightex
Prizmatix
Laserglow Technologies
Thorlabs Inc.
GenSight Biologics
Elliot Scientific Ltd.
Profacgen
Shanghai Laser & Optics Century Co., Ltd.
Coherent, Inc.
Bruker Corporation

Please Note: It will take 7-10 business days to complete the report upon order confirmation.