CHICAGO, Feb. 27, 2019 /PRNewswire/ -- According to the new market research report "Exosome Research Products Market by Product and Services (Kit, Reagent, Instrument, Service), Application (cancer [lung cancer, prostate cancer, breast cancer]), and End User (Hospitals, Academics, Research Institute) - Global Forecast to 2024", published by MarketsandMarkets™, 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.
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The factors supporting market growth include the increasing funding for life science research, the high global prevalence of cancer, and the increasing interest in exosome-based procedures.
Non-cancer applications segment is expected to grow at the highest CAGR during the forecast period
Based on applications, the Exosome Research Products Market is segmented into cancer and non-cancer applications. The non-cancer applications segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be attributed to the increasing research on exosomes for non-cancerous applications, which includes prenatal health, neurodegenerative diseases, CNS disorders, infectious diseases, organ transplant diagnostics, and others.
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127 – Pages
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Academic & research institutes use exosome research products for various cancer and stem cell research studies
Based on end user, the Exosome Research Products Market is segmented into academic & research institutes, hospitals & clinical testing laboratories, and pharmaceutical & biotechnology companies. In 2018, the academic & research institutes segment accounted for the largest share of the Exosome Research Products Market. The large share of this segment can be attributed to the growing use of exosomes in cancer and stem cell research, increasing number of cancer and stem cell research projects across the globe, and rising public-private funding for exosome-based research.
North America was the largest regional market for exosome research products in 2018
The global Exosome Research Products Market is segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World. In 2018, North America accounted for the largest share of the market. The large share of the North American market can be attributed to 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. In 2018, Europe was the second-largest regional market for exosome research products owing to a large number of ongoing research studies and increasing government funding for life science research activities in European countries.
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The global Exosome Research Products Market is highly competitive owing to the presence of several large and small players. Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), Bio-Techne (US), System Biosciences, LLC. (US), NX Pharmagen (US), Miltenyi Biotec (Germany), AMS Biotechnology (Europe) Limited (UK), NanoSomiX (US), Lonza (Switzerland), and Norgen Biotek Corp. (Canada) are some of the leading players operating in the global Exosome Research Products Market.
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