CHICAGO, April 5, 2022 /PRNewswire/ -- According to the new market research report "Exosome Research Market by Product and services (Kits, Reagents, Instrument), Indication (Cancer, Infectious Diseases), Application (Biomarkers, Vaccines), Manufacturing Services (Stem cell, Dendritic cell-derived), End User - Global Forecast to 2026", published by MarketsandMarkets, the global market is projected to reach USD 661 million by 2026 from USD 144 million in 2021, at a CAGR of 35.6% during the forecast period.
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"Exosome Research Market"
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The growth of this market is driven by factors such as the rising funding for life sciences 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.
Kits & Reagents segment accounted for the largest share of exosome research market
Based on product and service, the exosome research product market is segmented into kits & reagents, instruments, and services. The kits & reagents segment is further divided into antibodies, isolation, purification, quantitation kits & reagents, and other kits & reagents. Most exosome antibodies presently commercialized in the market cannot recognize exosome-associated antigens with the required specificity and sensitivity. This has propelled several companies to develop an array of polyclonal and monoclonal antibodies against common, disease-specific exosome-based markers. This is expected to make significant contributions to the kits & reagents market in the next few years.
Cancer segment accounted for the largest share of the exosome research market
Based on indication, the exosomes market is categorized into cancer, neurodegenerative diseases, cardiovascular diseases, infectious diseases, and other indications. The exosome research product market for cancer is segmented into lung cancer, prostate cancer, breast cancer, colorectal cancer, and other cancers. The large share is attributed to the high demand for exosome research products & services in lung cancer management. The exosomes secreted by tumor cells promote tumor progression, survival, invasion, and angiogenesis. Hence, the analysis of exosomes isolated from the blood or other body fluids of cancer patients could provide insights into cancer cell biology and serve as noninvasive predictive biomarkers for early detection, progression, and metastasis.
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Biomarkers segment accounted for the largest share of the exosome research market
Based on application, the exosome research product market is segmented into biomarkers, vaccine development, tissue regeneration, and other applications. Exosomes can be isolated from easily attainable biofluids, including blood, urine, and saliva; this has supported their use as biomarkers in disease management. Exosomes are also being used in developing vaccines against the COVID-19 virus, which accounts for the high growth rate of the vaccine development segment.
Academic & Research Institutes segment accounted for the largest share of exosome research market
Based on end user, the market is segmented into academic & research institutes, hospital & clinical testing laboratories, and pharmaceutical & biotechnology companies. There has been increasing demand for exosome research in the past few years due to their potential in disease diagnosis and their emerging role as intercellular messengers. This has piqued the interest of academic research professionals, contributing to the dominance of the academic & research institutes end-user segment in the market.
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North America accounted for the largest share of the exosome research market
Based on region, the exosome research product market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America accounted for the largest share of the market. The US is the key revenue contributor to the North American market. The high prevalence of cancer coupled with the increasing demand for early and effective disease diagnosis and treatment is the key factor driving market growth in the US.
The prominent players operating in the exosome research market are Thermo Fisher Scientific (US), Bio-Techne (US), Lonza (Switzerland), QIAGEN N.V. (Germany), Miltenyi Biotec (US).
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