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Optogenetics Market - Growth, Trends, and Forecast (2019 - 2024)

Market Overview
The major factors for the growth of the optogenetics market include the potential diagnostic tool in the field of neurosciences, rapid growth of advanced technology, and increasing use of multimodal imaging.

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NEW YORK, Nov. 12, 2019 /PRNewswire/ -- Optogenetics is a new research method that has revolutionized neuroscience over the last years and opened up completely new possibilities to develop a deeper understanding of the function of the human brain. This technique allows researchers to study the neurological activity patterns within specific brain cells and gives rise to thoughts, behaviors, and memories at an unprecedented precision level. In this way, it helps to find cures and treatments for neurological and psychiatric disorders, such as depression, addiction, schizophrenia, and Parkinson's disease. Researchers are now moving forward with concrete plans to treat neurological diseases by developing collaborations with pharmaceutical companies to help them use optogenetics in animal research, to develop novel drug targets for human diseases. Improvement and technological advancements in toolsets, such as neural connectivity, cell phenotyping tools, neural recording and imaging tools, have further enhanced and helped the growth of the optogenetics market in neuroscience. The advantage of optogenetics over other neuromodulation techniques is its high-temporal specificity combined with cellular precision. Thus, the increasing research in neuroscience and brain studies has further helped in fueling the growth of the optogenetics market.

Scope of the Report
As per the scope of this report, optogenetics refers to a range of optical techniques to elicit a physiological response in targeted biological systems, in the absence of pharmacology and electric stimulation. Optogenetics controls the neural activity by combining the genetic engineering and optical tools and is widely used in neuroscience for modulation of neural circuits with a high degree of precision and specificity.

Key Market Trends
Light Emitting Diode (LED) is the Segment by Light Equipment is Expected to Observe Fast Growth

LEDs are found to surpass the lasers in every aspect. The LEDs are found to be cheaper, smaller, more reliable, and easier to control. They are being incorporated into implants, allowing the untethered light delivery. The major drawback, and the reason they have not been as widely adopted by the optogenetics community is their difficulty toward coupling the light into a fiber optic cable with high efficiency. Although individual LEDs can emit as much as five watts of light, the light is emitted in all directions, rather than in a coherent beam. These are one of the major factors that are restricting growth. However, a recent class of fiber-coupled LEDs offers much higher intensities of fiber-coupled light. Hence, there are many advances in both LED technologies and their applications. Effective LED therapies are used in treating cutaneous and neurological diseases. The researchers in LEDs, imaging, light therapy, and optogenetics have understood the basic principles, and hence, they are stimulating the application of LEDs in health care.

North America is Expected to Dominate the Market

North America is expected to be the leading market for the use of the optogenetic device, primarily in academic and research labs. There is an increase in the number of neuronal diseases, such as epilepsy in the United States with at least 2.9 million adults and children being affected and also a steady increase in the number of neuropsychiatric disorders, which is expected to drive the growth of the optogenetic market. The most common optogenetics application today is with live animals and is rapidly being used in various academic and research labs across the country, which helps in driving the market globally. There are many advancements in neuroscience that are made possible by the BRAIN initiative (Brain Research through Advancing Innovative Neurotechnologies), a massive, collaborative, private-public funded project aimed at better understanding the human brain. The USD 100 million was committed to the federal 2014 budget to the BRAIN initiative and has increased funding by USD 100 million each year since 2014. These technologies may open new doors that may boost the optogenetics market in the United States. The RetroSense therapeutics in 2016, has also completed the low dose cohort in the clinical trial of novel gene therapy application of optogenetics. Hence, all these factors have helped in the growth of the market.

Competitive Landscape
The market studied is a moderately consolidated market owing to the various small and large market players. Some of the market players are Addgene, Cobalt Inc., Coherent Inc., Gensight Biologics, Laserglow Technologies, Noldus Information Technology, Scientifica, Shanghai Laser & Optics Century Co. Ltd, and Thorlabs Inc.

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