PORTLAND, Oregon, October 5, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, "Exosome Diagnostic and Therapeutic Market by Application, Product, End User, and Geography - Global Opportunity Analysis and Industry Forecasts, 2014 - 2022," projects that the global market for exosome diagnostic and therapeutic was valued at $39 million in 2015 and would reach $367 million by 2022, registering a CAGR of 37.8% from 2016 to 2022. Diagnostic application segment dominated the market in 2015 and expected to continue its dominance throughout the forecast period. North America accounted for more than half of the world exosome diagnostic and therapeutic market share in 2015.
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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.
In 2015, the diagnostic application segment accounted for around two-thirds share of the overall exosome diagnostic and therapeutic market. Increase in demand for exosome as a biomarker in the diagnosis of cancer, and increase in prevalence of cancer with rise in geriatric population and changes in lifestyle are the major factors that attribute to the rise in growth of this market
The instrument segment held the leading position with over 50% market share of the world exosome diagnostic and therapeutic market in 2015, owing to their frequent use in healthcare facilities for the isolation of exosome and research procedures. However, the software segment is estimated to register CAGR of 38.3% during the forecast period owing to innovative and advanced applications of exosome-based software for the data analysis and base pair estimations; and increase in implementation in research laboratories.
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.
- The cancer institute segment is projected to be the largest revenue-generating end user segment in the world exosome diagnostic and therapeutic market during the forecast period.
- Japan alone is the major shareholder in the Asia-Pacific region accounting for about two-fifth share of the Asia-Pacific exosome diagnostic and therapeutic market.
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).
Summary of Similar Reports can be viewed at https://www.alliedmarketresearch.com/life-sciences/medical-devices-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research