The Optogenetics Market Size was valued at USD 0.12 Billion in 2023. The Global Optogenetics industry is projected to grow from USD 0.13 Billion in 2024 to USD 0.20 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.01% during the forecast period (2024 - 2032). Optogenetics refers to a new kind of technology and research method that has resulted in revolutionizing neuroscience in recent years.
The growth of the optogenetics market operations is inclusive of the scope of the undertaken developments. Optogenetics is gaining a lot of recognition in the form of a potential diagnosis tool that applies to the field of neurosciences and is backed by the rapid advancement in the field of advancing technology and a steep increase in the use of multimodal imaging. Optogenetics is a new research method that has been developed to transform neuroscience and is gearing up for giving rise to new possibilities that will help in enhancing the understanding levels of how a human brain functions.
COVID 19 Analysis
It is an undeniable fact that since the arrival of the pandemic, the global economies are functioning at a much slower pace. The businesses have experienced various losses during the period and most of the people are out of jobs. There has been a huge challenge for the global audience that their lifestyle is at stake with a huge need for the audience to bend to the optogenetics market upheaval and opt for relative changes. However, the businesses related to the medical field, and pharmaceutical companies are taking a front seat to combat the transmission rate of the pandemic but combining the treatment practices with innovation that will help the world and the global markets to overcome the effects of the pandemic.
With the medical professionals and pharmaceutical companies lending such incredible services, they aspire for positive growth by the end of the forecast period in 2030. There is a new burst of innovation and creativity in the market in the infectious landscape to compete with the race for treating people who have contracted the disease. Also, the rising investment from the government and public sector is likely to ring in positive attributes for the optogenetics market to grow as per the predicted industry leaders and market players for the forecast period.
April 2024
Science Corporation, a provider of brain-computer interface technology, has announced that it has acquired from French bioelectronics company Pixium Vision the intellectual property and related assets for the Prima retinal implant.
The deal's financial details remained undisclosed.
The Prima system is specifically engineered to augment Science Corporation's Science Eye product, which addresses dry age-related macular degeneration and retinitis pigmentosa-induced blindness, in cases of severe vision loss resulting from retinal degeneration. At present in development, Science Eye integrates an implanted micro-LED display panel with optogenetic gene therapy.
In light of Pixium's insolvency, the Paris Commercial Court has granted approval for the acquisition. The Prima system consists of a portable computer, specialized spectacles, and a wireless, subretinal implant that is miniaturized.
Science Corporation's CEO and co-founder Max Hodak stated in a blog post: "The Prima retinal implant, which was created by Pixium and is grounded in research conducted at Stanford University, exhibits considerable potential.
"The results of the preliminary clinical trials are impressive. In conjunction with the research being conducted at Science on the Science Eye, we presently possess two exceptional prospects to advance BCI technology, which may enable the restoration of vision in specific patients afflicted with severe visual impairment.
Pixium is presently engaged in three clinical trials: the PRIMAvera pivotal study in Europe, two feasibility trials in France and the United States.
It is anticipated that the incorporation of PRIMA's technology into the portfolio of Science Corporation will expedite prospects for vision restoration.
"At this time, science is developing innovative, cutting-edge products through the utilization of two very distinct modalities," Hodak continued. "This transaction substantially broadens our portfolio of intellectual property. Although the potential of the PRIMA implant was a major factor in our decision to acquire it, we also felt obligated to provide updates to the patients who were enrolled in the Pixium clinical trials."
Drivers
The field of optogenetics is pushed to the rise of a new era that has potent and targeted control over a huge number of aspects of neural functioning. Both the optical methods and genetics, when applied together allow to have a tight spatial and temporal control of the various activities of different kinds that are conducted by the neurons, as part of the brain. This field is being understood as a revolutionary advancement and will help in achieving an excellent level of understanding and further, helping in providing a millisecond-scale temporal precision that allows the experimenter. This helps in keeping pace with the process related to extracting fast biological information.
Restraints
The optogenetics applications in small animals are yielding new insights in the fields of basic neuroscience and diseases of the nervous systems. These have utmost importance as they can translate the newest technological for nonhuman primates and human tissues. However, the emergence of severe issues gives rise to concerns related to the importance of safety when it comes to the smaller size of tolerance and differing susceptibility ratio to the infectious vectors. This might give rise to various kinds of restraints that might bar the optogenetics market operations from expanding as per the predictions during the forecast period that ends in 2030.
Technology Analysis
Depression is one of the most common mental diseases that pose a threat to life. The study on depression was carried out for a long period that shows that fundamental mechanics in most of the cases stands unrevealed. The efficiency rate for antidepressants is just 28%. Also, it has been noticed that approximately 30-40% of people who are suffering from depression are resistant to medication or any other kind of treatment. The development in the methods related to documentation and managing neural activity in the reward system, as a part of the brain has helped in having a better clarity and providing similar treatments that will result in improving the condition of the patients.
To understand the revenue potential of the market, it is important to have an understanding of the working of the market segments. The market has been segmented based on the following:
The optogenetics market includes calcium sensors, chloride sensors like a chameleon, membrane-grated like a mermaid, and other sensors.
The application segment of the market includes retinal disease treatment, behavioral tracking, neuroscience, and other applications.
The market end-users are distributed amongst psychiatrists, hospitals, care centers, clinics, diagnostic centers, research institutes, and others.
The global regions have been divided into 5 major regions that are North America, the European nations, the APAC region, Latin America, and the Middle East and Africa.
Based on the optogenetics market; trends, the North American region is expected to hold the largest market share, and thus, dominate the global market operations. One of the major reasons that are driving the growth in this region is the increased use of optogenetic devices in academies and research laboratories. As per the Parkinson’s Foundation, there are approximately 1.2 million people as a part of the US population that is estimated to suffer from the disease by the end of 2030.
Optogenetics Market Competitive Landscape
Based on the rising demand and supply pattern of the optogenetics industry, a higher degree of prevailing competition is expected during the forecast period that ends in 2030. Also, the rising competitive degree helps in enhancing the level of developments that are being undertaken by the market players during the period. To help the market investors and buyers have a better hand at the market insights, the report discusses the following prominent optogenetics market players:
Recent Developments
Optogenetics Market Report Overview
The optogenetics market report highlights the important recent developments of the market players that will impact the growth rate and the final market value by the end of the forecast period in 2030. The report helps in identifying important market factors like the drivers and opportunities that will stimulate the market growth as per the predictions and the possible factors that might restrain the market from growing. The report covers the role of the market segments and highlights their ability to meet the needs of the target audience during the forecast period.
Study Objectives
| Report Attribute/Metric | Details |
| Â Â Market Size 2032 | Â Â USD 0.20 Billion |
| Â Â CAGR | Â Â 6.01% (2024-2032) |
| Â Â Base Year | Â Â 2023 |
| Â Â Forecast Period | Â Â 2024-2032 |
| Â Â Historical Data | Â Â 2020 |
| Â Â Forecast Units | Â Â Value (USD Billion) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â product type and application |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Coherent Inc., Thorlabs Inc., Scientifica, Laserglow technologies, Regenxbio Inc., Addgene, UPenn Vector Core and Jackson Laboratories., Cobalt International Energy |
| Â Â Key Market Opportunities | Â Â Advancement in the technology and research |
| Â Â Key Market Drivers | Â Â Joint ventures, strategic alliances, mergers and acquisitions, new product developments |
Optogenetics Market Highlights:
Frequently Asked Questions (FAQ) :
Optogenetic market is projected to grow at approximately 6.01% CAGR during the assessment period (2024-2032).
Optogenetic market is estimated to reach a valuation of approx. USD 0.20 Billion by the end of 2032.
Increasing uses in the field of neuroscience and behavioural science and rapid advancement in technology such as ultrafast laser tools, are major tailwinds pushing the growth of the global Optogenetic market.
North America holds the largest share in the global Optogenetic market, followed by Europe and the Asia Pacific, respectively.
Coherent Inc. (U.S.), Laserglow technologies (Canada), Thorlabs Inc. (U.S.), Regenxbio Inc. (U.S.), UPenn Vector Core (U.S.), Addgene (U.S.), Jackson Laboratories. (U.S.), and Cobalt International Energy, Inc. (U.S.), are some of the top players operating in the global Optogenetic market.
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Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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