OPTOGENETICS MARKET ANALYSIS

Market Challenges And Opportunities

However, reluctance in adoption of new technology by healthcare professionals due to high costs in the deployment of technology, lack of awareness regarding the tools in emerging economies, and lack of availability of genetic reagents that can be conveniently used for probing biological processes are factors hindering growth of the optogenetics market.

Wireless microchips emerging as a new technology in optogenetics is expected to boost market growth

The major factor contributing to growth of the global optogenetics market is the rising use of optogenetics in the field of neuroscience. New developments in optogenetics such as wireless microchips have enabled convenient treatment of conditions, including depression and Parkinson’s disease. According to World Health Organization (WHO) in 2017, it is estimated around 300 million people were affected by depression globally which makes it the main cause of disability such as decrease in self-esteem, feeling bored and loss of a direction or purpose. Furthermore, rampant advancements in technology such as ultrafast laser tools, LEDs, ytterbium-based lasers are the other factors responsible in driving the growth of optogenetics market.