The global exosome research products market is projected to reach USD 264 million by 2024 from USD 91 million in 2019, at a CAGR of 23.8%
NEW YORK, March 11, 2019 /PRNewswire/ -- High global prevalence of cancer and increasing funding for life sciences are expected to drive the overall growth of the exosome research products market
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The global exosome research products market is projected to reach USD 264 million by 2024 from USD 91 million in 2019, at a CAGR of 23.8% during the forecast period. Factors driving the growth of this market include the increasing funding for life science research, the high global prevalence of cancer, and the increasing interest in exosome-based procedures. However, the dearth of skilled professionals is a major factor that is expected to restrain the growth of this market to a certain extent in the coming years.
The pharmaceutical & biotechnology companies segment is expected to grow at the highest CAGR during the forecast period
Based on end user, the exosomes research products market is segmented into academic & research institutes, hospitals & clinical testing laboratories, and pharmaceutical & biotechnology companies.Pharmaceutical & biotechnology companies are expected to grow at a higher CAGR during the forecast period.
This can majorly be attributed to significant investments by companies in research activities for the development of exosome-based diagnostics to combat new diseases.
The lung cancer segment accounted for the largest share of the exosome research products market during the forecast period
Based on cancer applications, the exosomes research products market is segmented into lung, prostate, breast, colorectal, and other cancers.In 2018, lung cancer accounted for the largest share of the exosomes market for cancer applications.
The large share of this segment can primarily be attributed to factors such as the increasing prevalence of lung cancer, technological advancements in instruments & assays for liquid biopsy, and the growing demand for advanced diagnostic technologies.
North America to dominate the market during the forecast period
In 2018, North America accounted for the largest share of the exosome research products market.The North American market is also expected to grow at the highest CAGR during the forecast period.
Factors such as the availability of government funding for life science research, favorable regulatory environment, increasing focus on exosomes in research and diagnostics, and the presence of high-quality infrastructure for clinical and laboratory research are driving the growth of the exosomes market in North America. According to R&D Magazine (2018), North America accounted for 27.36% of global R&D spending. North America has several national institutes that support biotechnology and life science research activities. The growth of the biotechnology and pharmaceutical industries and growth in the number of cancer cases in the region are also supporting market growth.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 (55%), Tier 2 (20%), and Tier 3 (25%)
• By Designation: C-level (58%), D-level (19%), and Others (23%)
• By Region: North America (40%), Europe (30%), Asia (10%), and RoW (20%)
List of Companies Profiled in the Report
• Thermo Fisher Scientific (US)
• QIAGEN N.V. (Netherlands)
• Lonza (Switzerland)
• Bio-Techne (US)
• System Biosciences, LLC. (US)
• NX Pharmagen (US)
• Miltenyi Biotec (Germany)
• AMS Biotechnology (Europe) Limited (UK)
• NanoSomiX (US)
• Norgen Biotek Corp. (Canada)
Research Coverage:
This report provides a detailed picture of the global exosome research products market.It aims at estimating the size and future growth potential of the market across different segments, such as product & service, application, end user, and region.
The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall exosome research products market and its subsegments.This report will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.
It will also enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
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