Optogenetics Market was Valued at US$ 19.1 Mn in 2018
Global Optogenetics Market was Valued at US$ 19.1 Mn in 2018, Growing Use of Optogenetics in the Field of Neuroscience
Analyst Speak:
“The Global Optogenetics Market was valued around US$ 19.1 Mn by 2018 and growing at a significant CAGR of 17.2% over next seven years 2019-2025 due to growing use of optogenetics in the field of neuroscience”
The global optogenetics market accounted for US$ 19.1 Mn in 2018 and burgeoning over the forthcoming years. Rapid growth of advanced technology, rising use of optogenetics in the field of neuroscience, changing healthcare reforms, increase in incidence of retinal and brain disorders and growing public-private collaborations are the major factors fostering the market growth. However, factors such as lack of awareness, high cost of technologies and unwillingness in acceptance of new technologies are hampering the market growth.
Global optogenetics market segmented on the basis of product type, technique, application, end user and region.
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Viral Vectors dominate the Global Optogenetics Market
Based on technique, global optogenetics market is segmented into viral vectors, transgenic animals and cre-dependant expression system. Viral vectors held considerable market growth during estimated period. A viral vector is a genetically modified vector produced by genetic engineering. Viruses have progressed dedicated molecular mechanisms to efficiently transport their genomes inside the cells they infect. As pathogenic genes in the virus are entirely or mostly eliminated, it is safe to be used in multidisciplinary research fields for expressing genes, such as oncology and so on. Neuroscience and psychiatry are the greatest closely related disciplines in either basic research or clinical research.
North America Leads the Global Optogenetics market
PBI’s global optogenetics market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global optogenetics market with considerable CAGR due to increase in the number of neuropsychiatric disorders and rise in use of optogenetic devices mainly in academic and research labs. U.S and Canada are the major contributors for the growth of the market in the region. Also, Asia Pacific held substantial market share during estimated period owing to growing acceptance of the technology and large scale CRO activities in the region.
Strategic Collaborations are the Key Strategies Adopted by Market Players
Global optogenetics market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In January 2017, Applied Genetic Technology Corporation collaborated with Bionic Sight for the development of optogenetic therapy and device for the treatment of visual deficits and blindness.
Key player’s profiles in the report are Coherent, Inc. (U.S.), Noldus Information technology (Netherlands), Thorlabs, Inc. (U.S.), Bruker (U.S.), Laserglow Technologies (Canada), Regenexbio, Inc. (U.S.), GenSight Biologics S.A. (France), Jackson Laboratory (U.S.), Applied Genetic Technologies Corporation (U.S.), and Circuit Therapeutics, Inc. (U.S.).
Precision Business Insights (PBI) in its report titled “
Global Optogenetics Market
: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
Detailed Segmentation
By Product Type
o Sensors
· Genetically encoded calcium indicators
· pH sensors
· Chloride sensors
· Neurotransmitter release sensors
· Voltage-sensitive fluorescent proteins
o Actuators
· Halorhodopsin
· Archaerhodopsin
· Channelrhodopsin
· Others
o Light equipment
· LEDs
· Laser
· Others
By Technique
o Viral vectors
o Transgenic animals
o Cre-Dependant Expression system
By Application
o Neuroscience
o Behavioural science
o Cardiovascular diseases
o Retinal disease treatment
o Others
By End User
o Pharmaceutical & Biopharmaceutical companies
o Biotechnology companies
o Academic research institutes
By Geography
o North America
· US
· Canada
o Europe
· Germany
· France
· UK
· Italy
· Spain
· Russia
· Poland
· Rest of Europe
o Asia-Pacific
· Japan
· China
· India
· Australia & New Zealand
· ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
· South Korea
· Rest of Asia-Pacific
o Latin America
· Brazil
· Mexico
· Argentina
· Rest of Latin America
o Middle East and Africa (MEA)
· Gulf Cooperation Council (GCC) Countries
· Israel
· South Africa
· Rest of MEA
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