Rising use of multifunctional property of exosome therapy for chronic heart failure, Alzheimer’s disease, Parkinson’s disease and cancer is driving the growth of the global market diagnostic and therapeutic market for exosomes.
PORTLAND, Oregon., May 30, 2022 /PRNewswire/ –Allied Market Research released a report titled, “Exosome Diagnostics and Therapeutics Market By Application (Diagnostic, Therapeutics), By Product (Instrument, Reagent, and Software) By End User (Cancer Institute, Hospital, Diagnostic Center , Other): Global Opportunities Analysis and Industry Forecast, 2020-2030.” According to the report, the global exosome diagnostics and therapeutics industry was estimated at $224.34 million in 2020, and should reach $2.9 billion by 2030, registering a CAGR of 29.4% from 2021 to 2030.
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Determinants of Growth-
Rise in the use of multifunctional property of exosome therapy for chronic heart failure, Alzheimer’s disease, Parkinson’s disease and cancer is driving the growth of the global exosome diagnostics and therapy market the exosomes. On the other hand, increasing demand for drug therapies and booming R&D activities in pharmaceutical and biopharmaceutical fields further complement the market growth. Additionally, increasing potential application of exosomes in cancer diagnosis and development of translational precision drugs are expected to create lucrative opportunities in the industry.
- The rapid spread of Covid-19 has increased the need for molecular diagnostics, thereby positively impacting the global exosome diagnostics and therapeutics market.
- This trend is expected to continue until the pandemic is completely over.
The diagnostics segment to dominate by 2030-
Based on application, the diagnostics segment accounted for more than two-thirds of the global exosome diagnostics and therapeutics market share in 2020, and is expected to rule the roost by 2030. The same segment would also cite fastest CAGR of 29.5% throughout the forecast period, due to rising incidence of chronic diseases and increasing demand for early diagnosis.
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The instruments segment to keep the lion’s share
Based on product, the instruments segment held nearly three-fifths of the global exosome diagnostic and therapeutic market revenue in 2020 and is expected to lead the way by 2030. This is driven by the increase in the need for molecular diagnostics and to the increase of R&D activities for the purpose of diagnosis. The software segment, on the other hand, would show the fastest CAGR of 30.2% from 2020 to 2030. This is attributed to progress in R&D activities in the healthcare sector and increase in the number of key manufacturers to worldwide.
North America collected most of it in 2020-
Based on the region, North America held the major share in 2020, generating nearly two-fifths of the global exosome diagnostics and therapeutics market, owing to the increase in product launches for exosome therapeutics, strong presence of key players and the development of R&D activities in the pharmaceutical and biopharmaceutical sector throughout the province. Asia Pacifichowever, would grow at the fastest CAGR of 30.3% by 2030. Rising prevalence of chronic and infectious disorders, growing healthcare expenditures and rising demand for molecular diagnostics are driving the growth of the market in the region.
Key Industry Players-
- Exosome Diagnostics Inc.
- NanoSomix Inc.
- Thermo Fisher Scientific Inc.
- Malvern Instruments Ltd.
- System Biosciences Inc.
- NX Pharmagene
- Aethlon Medical, Inc.
- Sistemic Inc.
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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.”
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