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Optogenetics Market Size
Optogenetics Market size is predicted to expand at a steady rate from 2024-2032 due to significant improvements, such as adoption of wireless microchips to offer convenient way to treat neurological disorders, including depression and Parkinson’s disease. Nearly 90,000 people are diagnosed with Parkinson's disease across the U.S. per year, cites a 2022 Parkinson's Foundation-backed study.
The incidence of neurological ailments is surging steadily every year, creating opportunities for advancements in neuroscience. Optical techniques are increasingly preferred over pharmaceutical and electrical methods due to their accuracy, optimum speed, and ability to cause less damage to tissues. These features will enhance the use of optogenetics in neuroscience.
The growing adoption of LEDs, ytterbium lasers, and ultrafast laser tools will also contribute to the industry progress. However, many patients are not aware of the numerous benefits offered by these tools in treating chronic medical conditions. Also, genetic reagents are not easily available, hindering the optogenetics industry gains over the coming years.
Optogenetics Market Trends
The ongoing R&D activities for improving technologies, developing new optogenetic tools, and exploring novel applications will prove favorable for the industry gains. The development of new light-sensitive proteins, improved methods for light delivery, and innovations in imaging technologies is leading to enhanced precision, efficiency, and versatility of optogenetics. Rising collaborations between academic institutions, biotechnology companies, and pharmaceutical companies is accelerating advancements by leveraging collective expertise, resources, and technologies. The rising focus of researchers and companies on exploring new ways to apply optogenetic techniques will also add to the technology uptake.
Optogenetics Market Analysis
The industry revenue from the light-emitting diode (LED) segment will increase considerably by 2032. The robust demand for LED instruments in the healthcare sector can be attributed to the growing usage of effective LED therapies in the treatment of cutaneous and neurological diseases. According to the Skin Cancer Foundation, 1 in 5 individuals in the U.S. will being diagnosed with skin cancer by the time they turn 70 years old. Since LEDs can be easily integrated into upright as well as inverted microscopes, they are used in many optogenetic experiments to offer sufficient output power to stimulate all optogenetic probes.
The optogenetics industry is segmented into neuroscience, retinal disease treatment, behavioral tracking, and others. The neuroscience segment is expected to capture a sizeable revenue share by 2032. Optogenetics is being increasingly adopted in neuroscience, prompting several governments to introduce a wide range of initiatives to promote research in neurodegenerative disorders. For example, the U.K. government announced its decision to invest USD 455.3 million in projects to improve the understanding and treatment of a variety of neurodegenerative diseases, such as Parkinson’s disease dementia, Pick’s Disease, and frontotemporal dementia.
North America optogenetics market size is anticipated to grow at a considerable pace from 2024 to 2032 due to the increasing burden of Parkinson’s disease in the region. As per data from the Parkinson’s Foundation, more than 60,000 Americans are diagnosed with Parkinson’s every year. This scenario is boosting the adoption of light therapy treatments to treat neurodegenerative ailments. The field of optogenetics has been experiencing continuous gains in North America, with ongoing R&D activities. The increased funding from both public and private sectors for the development of new technologies, tools, and therapies.
Optogenetics Market Share
Some of the key optogenetics industry players include:
- Laserglow Technologies
- Noldus Information Technology,
- Shanghai Laser & Optics Century Co. Ltd. (SLOC)
- GenSight Biologics
- Scientifica
- Addgene
- HUBNER Photonics Inc.
- Thorlabs Inc.
- Coherent Inc.
Major companies in the optogenetics industry are actively incorporating strategies, such as mergers, acquisitions, R&D investments, partnerships, and new product developments to sustain competitive advantages.
Optogenetics Industry News:
Life sciences frontrunner ADInstruments teamed up with Aston University via a Knowledge Transfer Partnership to improve neuroscience research with the help of optogenetics telemetry.