ONTOGENETIC MARKET ANALYSIS

The global ontogenetic market was valued at US$ 522.5 Mn in 2021 and is forecast to reach a value of US$ 677.8 Mn by 2028 at a CAGR of 3.9% between 2022 and 2028. The global ontogenetic market is experiencing strong growth due to the increasing prevalence of neurological disease and increase in research and development and government initiatives to encourage research. Moreover, technological advancements in the field of ontogenesis and rising geriatric population worldwide is expected to boost the growth of the market. However, factors such as lack of awareness and high cost of technology are expected to hamper growth of the ontogenetic market.

Global Ontogenetic Market: Regional Insights

Based on geography, the global ontogenetic market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing burden of neurologic disorders and increase in use of ontogeny (as potential diagnostic tool) in the field of neuroscience. For instance, in case of Alzheimer's disease, optogenetics enables a more precise diagnosis of the neural activity of the brain. According to the Alzheimer's Association, over 6 million Americans of all ages have Alzheimer's. About 1 in 9 age 65 and older (10.7%) has Alzheimer's, while an estimated 6.5 million Americans age 65 and older were living with Alzheimer's in 2022. This in turn is driving the market growth.

Europe and Asia Pacific are also expected to witness significant growth in the global ontogenetic market due to the increase in adoption of various oncologic practices and rise in patient population in these regions. For instance, optogenetics can be used as potential tool for both the diagnosis and treatment of a variety of diseases, such as neurological diseases. According to the report published in July 2021 by the Public Health Foundation of India (PHFI), the burden of non-communicable neurological disorders is increasing in India mainly due to ageing of the population. India’s elderly population (aged 60 and above) is expected to touch 194 million in 2031 from 138 million in 2021, according to the National Statistical Office (NSO)’s Elderly in India 2021 report.

Figure 1. Global Ontogenetic Market Share (%), by Region, 2022

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Global Ontogenetic Market Drivers:

Rise in burden of neurological disorders to boost market growth

One of the key factors expected to boost growth of the global ontogenetic market over the forecast period is the rise prevalence of neurological disorders around the world. For instance, in neural research, optogenetic methods for monitoring synaptic activity proved to be extremely useful in a variety of neurological diseases. As per the Alzheimer's Disease International (ADI), someone in the world develops dementia every 3 seconds. There are over 55 million people around the world living with dementia in 2020. This number will almost double every 20 years, reaching 78 million in 2030 and 139 million in 2050, driving the market growth.

Increase in research and development to underpin market growth

Another factor which is driving the growth of the global ontogenetic market is the rise in research & development and government initiatives to encourage research. For instance, due to the increase in research activities on optogenetics as a potential tool for the diagnosis and treatment of various neurological diseases, the market is expected to witness robust growth, as optogenetic have proved to be extremely useful for the diagnosis and treatment of many neurological diseases. According to the study published in September 2019 in Frontier Neurology, optogenetics is an indispensable tool for the diagnosis and treatment of epilepsy, a neurological disorder.

Global Ontogenetic Market Opportunities:

Technological advancements in the field of ontogenesis are expected to provide significant growth opportunities for players in the global ontogenetic market. For instance, several advancements in the field of ontogenesis are assisting research on optogenetics. According to the study published in May 2019 by the National Institutes of Health, optogenetics could be more fully integrated with other technologies used to study brain circuits, such as electrophysiology and calcium or voltage imaging, in addition to producing bigger, faster, and stronger opsins. This in turn is expected to aid in the growth of the global ontogenetic market.

Growing geriatric population across the globe is expected to offer lucrative growth opportunities for players in the global ontogenetic market. For instance, neurological diseases are more common in adults, affecting people 60 years of age and older. According to the World Health Organization (WHO), over 20% of adults aged 60 and over suffer from a mental or neurological disorder and 6.6% of all disability among people aged 60 and over is attributed to both mental and neurological disorders. Thus, with the growing geriatric population, the usage of optogenetics for the treatment and diagnosis of neurological diseases is also increasing.

Global Ontogenetic Market Trends:

Increase in applications of ontogenetics is a recent trend

In addition to neurology diseases, cardiac optogenetics is an emerging research field that involves the delivery of light-sensitive proteins to enable optical modulation of cardiac electrical function. As a result, players in the market are focusing on various strategies to focus on the research and development in the field of optogenetic. This trend is expected to continue over the forecast period, driving the growth of the global ontogenetic market.

Increase in research and development (R&D) is another trend

As the technology is still being developed, optogenetics has a wide range of potential applications that have yet to be explored. The optogenetics will expand to allow greater use in research as new opsins and better light delivery options are developed. As a result, optogenetics is now being used as a potential tool for the diagnosis and treatment of various diseases. This trend is also expected to continue during the forecast period, driving the growth of the market.

Global Ontogenetic Market Restraints:

Lack of awareness to hamper the growth of the market

Another factor which is hampering the growth of the ontogenetic market is the lack of awareness. Optogenetics is a new field, and it is yet to establish itself, in terms of both technology and number of laboratories that use it. The technology is currently limited to only a few labs in North America and Europe. However, with the increase in awareness among the researchers in the Middle East, Africa, and some of the Asian countries about the technology, the use of this novel technology is also increasing rapidly, driving the growth of the market.

High cost of technology to hinder growth of the market

One of the key factors expected to hamper the growth of the global ontogenetic market is the high cost of technology and lack of skilled personnel. For instance, pharmaceutical companies require highly skilled professionals to develop/operate optogenetic equipment. Moreover, technologically advanced equipment and the cost required for research and development result in huge costs for the market players. Similarly, the high labor cost required for the manufacturing of final equipment is restraining the growth of the global ontogenetic market.

Figure 2. Global Ontogenetic Market Share (%), by Application, 2022

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Global Ontogenetic Market Segmentation:

The ontogenetic market report is segmented into Light Equipment, Actuator, Sensor, Application, and Geography.

Based on Light Equipment, the market is segmented into Laser and Light-emitting Diode (LED). Out of which, Laser Segment is expected to dominate the ontogenetic market during the forecast period and this is attributed to the technological advances in the field of ontogenesis. Advances in laser technology are assisting research on optogenetics.

Light-Emitting Diode (LED) Segment is also expected to witness significant growth in the near future and this is owing to the increase in use of LEDs. LEDs play an important role in optogenetics due to their low cost, high flexibility, low power consumption, and several applications.

Based on Actuator, the ontogenetic market is segmented into Channelrhodopsin, Halorhodopsin, and Archaerhodopsin. Of which, Channelrhodopsin Segment is expected to dominate the market and this is attributed to the rise in use of channelrhodopsins. Channelrhodopsins is an optogenetics tool that allows the fast depolarization of neurons when exposed to light through direct stimulation of ion channels.

Halorhodopsin Segment is also expected to witness significant growth in the near future and this is owing to the increase in use of halorhodopsin for cell inhabitation. It is used in optogenetics to hyperpolarize (or inhibit) specific neurons.

Based on Sensor, the market is segmented into Calcium (Aequorin, Cameleon, and Other Calcium Sensors), Chloride (Clomeleon), Membrane-gated (Mermaid), and Other Sensors. Out of which, Calcium Segment is expected to dominate the market over the forecast period and this is attributed to the increase in usage of sensors in ontogenetic equipment. Aequorin, cameleon, and GCaMP are commonly used calcium indicators.

Chloride Segment is also expected to witness robust growth in the near future and this is owing to the rise in use of chloride sensors in optogenetic imaging. Chloride sensors, such ads clomeleon, are used in optogenetic imaging of inhibitory circuit activity.

Based on Application, the market is segmented into Neuroscience, Behavioral, Tracking, Retinal Disease Treatment, and Other Applications. Out of which, Neuroscience Segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of neurological disorders around the world.

Behavioral Segment is also expected to witness significant growth in the near future and this is due to the increase in research and development. Research studies have shown positive outcomes in overcoming behavioral disorders.

Global Ontogenetic Market: Key Developments

In September 2021, Novartis acquires Arctos Medical, expanding optogenetics portfolio to bring gene therapies to patients with severe vision loss.

In May 2021, GenSight Biologics completed the PIONEER Phase I/II clinical trial of GS030. It combines gene therapy and optogenetics to treat Retinitis Pigmentosa (RP). Such studies increase the demand for optogenetic products/equipment.

In January 2021, SYMBXX initiated clinical trials in Adelaide, Australia, and Canada to develop laser light therapies to reduce the debilitating symptoms of Parkinson’s disease.

In October 2020, Novartis AG announced the acquisition of Vedere Bio, adding novel optogenetic gene therapy technology for treating blindness.

Global Ontogenetic Market: Key Companies Insights

The global ontogenetic market is highly competitive. This is attributed to the increase in demand for ontogenetic equipment/instruments worldwide, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global ontogenetic market are Coherent Inc., Thorlabs Inc., Bruker Corporation, Laserglow Technologies, GenSight Biologics S.A, Hubner group (Cobolt Inc.), Judges Scientific Plc (Scientifica), Noldus Information Technology, and Shanghai Laser & Optics Century Co. Ltd., among others.

*Definition: Ontogenetic is the developmental history of an organism within its lifetime, as distinct from phylogeny, which refers to the evolutionary history of species. Ontogenetic development can be conceptualized as the portion of physical, cognitive, emotional, and social development. It is a vast subject and continuous research in the field is expanding its applications.