Exosome Diagnostic and Therapeutic Market Size is expected to reach US$ 367 Million by 2022
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Allied Analytics –:A new report published by Allied Market Research, titled, Exosome Diagnostic and Therapeutic Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $367 million by 2022, registering a CAGR of 37.8% during the period 2016-2022. North America accounted for more than half of the world exosome diagnostic and therapeutic market share in 2015.
“Exosome Diagnostic and Therapeutic Market by Application (Diagnostic and Therapeutic), Product (Instrument, Reagent and Software) and End-User (Cancer Institute, Hospital, Diagnostic Center, and Others) – Global Opportunity Analysis and Industry Forecasts, 2014-2022”
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1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The key players of the world exosome diagnostic and therapeutic market are employing novel concepts and ideas to improve exosome isolation techniques and the current set of products, and also enhance their profitability so as to gain a competitive edge over the other market players. Therefore, the key players have adopted product launch as the key developmental strategy to keep pace with the changes in demands for end users. Furthermore, several companies have launched technologically advanced exosome research instrument and tools to strengthen their market position.
Increase in incidence and prevalence of cancer, growth in investments and initiatives implemented by the government and non-government associations around the world are the factors that majorly drive the growth of this market. The technological advancements for easy exosome isolation and advanced exosome based products for new applications also support the growth of the world exosome diagnostic and therapeutic market. However, stringent government regulations for the product approval, and low awareness about the applications of exosome in developing countries restrict the market growth.
Among the end users, the cancer institute segment held around two-fifths share of the world exosome diagnostic and therapeutic market in 2015. This segment is expected to maintain its leading position in the overall market throughout the analysis period, primarily because of increase in focus on the use of exosomes for cancer management and increase in government support in the form of funding for the research on development of innovative exosome based diagnostic & therapeutic techniques.
North America and Europe together accounted for more than three-fourths share of overall market in 2015, and is expected to maintain this lead throughout the forecast period. The growth in the exosome diagnostic and therapeutic market in these regions attributes to the technological advancement in the isolation of exosomes, innovative and advanced applications of exosome-based products, and geriatric population coupled with increase in incidence of diseases such as cancer and cardiovascular diseases. However, Asia-Pacific is projected to be the fastest-growing region, registering a CAGR of 38.8% during the analysis period. This is mainly due to the increase in awareness of innovative and advanced applications of exosome-based diagnostic and therapeutic products. In addition, increase in research outsourcing from emerging markets, improvement of healthcare infrastructures, and increase in expenditures in the emerging markets (such as India and China) have boosted the market growth.
Key findings of Exosome Diagnostic and Therapeutic Market:
In 2015, diagnostic application was the leading segment of overall exosome diagnostic and therapeutic market revenue, and is projected to grow at a CAGR of 41.5% during the forecast period.
Software segment is expected to grow at a remarkable CAGR of 38.3%, owing to increased demand in the life science research studies.
North America accounted for over half of the world exosome diagnostic and therapeutic market in 2015.
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The key players in the exosome diagnostic and therapeutic market are highly focused on expanding their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. The key players profiled in this report include Aethlon Medical, Inc. (U.S.), Exosome Diagnostics Inc. (U.S.), NanoSomix Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Malvern Instruments Ltd. (U.K,), System Biosciences Inc. (U.S.), NX Pharmagen (U.S.), Sistemic Inc. (U.K.), Capricor Therapeutics (U.S.), and Exiqon A/S (Denmark).
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