The market size of microspheres is forecast to reach a value of USD 7.37 billion by 2021. The growing demand from major applications such as medical technology, cosmetics & personal care, oil & gas, and life science & biotechnology is expected to drive the demand for microspheres. The growing healthcare services sector is significantly driving the demand for microspheres.
The medical technology application is expected to witness the highest growth rate between 2016 and 2021. The demand for microspheres is increasing in medical technology application for controlled drug release delivery systems.
The advantage of using microspheres in drug-delivery matrix is that they can encapsulate many types of drugs, including small molecules, proteins, and nucleic acids, and can be easily administered through a syringe needle. They are generally biocompatible, can provide high bioavailability, and are capable of sustained release for long periods of time.
South America is expected to be the fastest-growing market in the forecast period. The growing demand of microspheres in medical technology and cosmetics & personal care applications is driving the demand for microspheres in the region. Asia-Pacific is estimated to be the second-fastest growing microspheres market due to growing healthcare and construction industries.
Key Topics Covered:
Market Penetration: Comprehensive information on microsphere offered by the top players in the global microsphere market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the microsphere market
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for microsphere across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global microsphere market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the global microsphere market