How Will The Optogenetics Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s optogenetics market report forecasts the optogenetics market size to grow to $54.24 Billion by 2027, with a CAGR (compound annual growth rate) of almost 14%.
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Optogenetics Market Size Forecast
The global optogenetics market is expected to grow from $28.15 billion in 2022 to $32.26 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global optogenetics market size is expected to grow to $54.24 billion in 2027 at a CAGR of 13.9%.
North America held the largest optogenetics market share.
Key Optogenetics Market Driver – Rise In Cases Of Parkinson’s Disease And Epilepsy Across The World
For example, according to a 2020 report published by the International Parkinson and Movement Disorder Society, a US-based professional society of clinicians, scientists, and other healthcare professionals, 9.4 million people worldwide were estimated to have Parkinson’s disease (PD) in 2020, up from 6 million cases in 2016. As a result, an increase in Parkinson’s disease and epilepsy cases around the world is propelling the optogenetics market forward.
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Key Optogenetics Market Trend – developing innovative systems
To maintain their market position, major optogenetics companies are developing innovative optogenetics tools and systems using cutting-edge technologies. Bruker Corporation, a US-based optogenetics tool manufacturer, for example, launched NeuraLight 3D Ultra in June 2022, an enhanced 3D holographic stimulation for optogenetics module to support advanced neuroscience and optogenetics research applications on Bruker’s Ultima 2Pplus Multiphoton Microscope. NeuraLight 3D Ultra is a cutting-edge 3D holographic photostimulation system designed for deep functional research on neural networks and brain computation.
Optogenetics Market Segment
1) By Product: Lasers, Actuators, Sensors
2) By Application: Neuroscience, Behavioral Tracking, Retinal Disease Treatment, Other Applications
3) By End User: Hospitals And Clinics, Diagnostics Centres, Research Centres, Other End Users
Optogenetics Market Major Players and Strategies
Major players in the optogenetics market are Elliot Scientific Ltd., Shanghai Laser & Optics Century Co. Ltd., GenSight Biologics, Danaher Corporation, Coherent Inc., Thorlabs Inc., Prizmatix Ltd., Bruker Corporation, Judges Scientific Plc., Merck KGaA, The Jackson Laboratory, Noldus Information Technology BV, Applied Genetic Technologies Corporation, Circuit Therapeutics Inc., Bionic Sight LLC, Teledyne Photometrics, Campden Instruments, and Nanoscope Therapeutics Inc.
Novartis AG, a Swiss pharmaceutical corporation, paid an undisclosed sum for Arctos Medical AG in September 2021. This acquisition aims to expand Novartis’ presence in ophthalmology, strengthen its position in AAV-based gene therapy, and provide novel treatments to patients with severe vision loss. Arctos Medical is a gene therapy start-up based in Switzerland that specialises in optogenetics therapies.
The Optogenetics Global Market Report 2023 covers regional data on optogenetics market size, optogenetics market trends and drivers, opportunities, strategies, and optogenetics market competitor analysis. The countries covered in the optogenetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Optogenetics is a broad technique that employs optical systems and genetic engineering technologies to precisely regulate and monitor the biological processes of a single cell, group of cells, tissues, or organ with high temporal and spatial resolution. Optogenetics is the study of the physiological activity of neurons and other cell types, including light sensors, in order to determine the underlying causes of diseases such as Parkinson’s, memory disorders, anxiety, addiction issues, mood swings, and others.
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