NEW YORK, According to the market analysis report “Optogenetics Market by Type and Geography – Forecast and Analysis 2022-2026”, the market will witness a YOY growth of 15.82% in 2022, at a CAGR of 16.39% during the forecast period. The report is segmented by type (type I and type II) and geography (North America, Europe, Asia, and Rest of World (ROW)).
Technavio has announced its latest market research report titled Optogenetics Market by Type and Geography – Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Optogenetics Market by Type and Geography – Forecast and Analysis 2022-2026
Vendor Insights
The optogenetics market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions and the development of innovative systems to compete in the market. Market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Companies are launching innovative products to beat the stiff competition in the market. For instance, Bruker Corp, a US-based healthcare company offers solutions for optogenetics using a laser that triggers any opsin without crosstalk with a complete spectrum of laser wavelengths, under the brand name of Bruker.
Geographical Market Analysis
North America was the largest revenue-generating regional segment of the optogenetics market. 38% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for optogenetics in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW). The significant increase in the demand for light therapy treatment for chronic pain in the countries such as the US will facilitate the optogenetics market growth in North America over the forecast period.
Furthermore, countries such as Germany are expected to emerge as prominent economies for the market’s growth during the forecast period.
Key Segment Analysis
The type I segment held the largest optogenetics market share in 2021. The growth is attributed to the high demand for type I opsins as they (like channelrhodopsin, halorhodopsin, and archaerhodopsin) are used in optogenetics to switch on or off neuronal activity. Type I opsins are preferred if the neuronal activity should be modulated at a higher frequency because they respond faster than type II opsins.
Key Market Driver & Challenge:
The global optogenetics market growth is driven by its ability to treat depression, which was the most common life-threatening mental disorder in 2021. Common antidepressants are very effective in a few patients and show the side effects in noradrenergic and serotonin neurotransmission in some people with 28% efficacy. Nearly 30%-40% of the people are resistant to treatment for depression but can be treated with optogenetics. Optogenetics detects the basolateral amygdala neuron or their extension into the central amygdala circuits to reveal the characteristics of anxiety. Thus, the increased prevalence of depression and clinical trials for optogenetics to cure depression will support market growth in the forecast period.
The lack of standardization is one of the primary factors likely to hinder the market’s growth during the forecast period. A proper standard is to be used to translate optogenetics from a tool for the investigation of model organisms to a therapeutic for the treatment of human diseases. Moreover, in proper standardization, the process becomes too costly and also requires a high level of skill, which will limit the market growth in the coming years.
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