Exosome Diagnostic and Therapeutic Market Size Forecast to Reach $735.1 Million by 2026
Increasing Demand for Anti-Aging Therapies and Availability of Various Exosome Isolation Along With Purification Techniques Are Likely To Aid the Market Growth of the Exosome Diagnostic and Therapeutic Market
Hyderabad, India – July 24, 2021 /MarketersMedia/ —
Exosome Diagnostic and Therapeutic Market size is forecast to reach $735.1 million by 2026, growing at a CAGR of 23.7% during the forecast period 2021-2026. Exosomes transfer the DNA, RNA, and proteins to different cells in the body. It is related with viral pathogenicity, immune responses, cancer progression, and cardiovascular diseases. Exosomes helps in regulating complex intracellular and extracellular vesicles, hepatocellular carcinoma pathways that are advanced in their usefulness in the therapeutic control of several neurodegenerative conditions and cancer. Increasing research activities in exosome therapeutics and growing incidences of the chronic diseases such as cancer are the major factors driving the growth of the market. Rising income levels, increasing development in the healthcare sectors, and technological advancements is set to further enhance the overall market development of the Exosome Diagnostic and Therapeutic Market for the period 2021-2026
Exosome Diagnostic and Therapeutic Market Segment Analysis – By Application
Diagnostic held the largest share in the Exosome Diagnostic and Therapeutic Market in 2020 and is estimated to grow at a CAGR 24.9% during the forecast period 2021-2026. Exosomes occurs under both pathological as well as normal conditions and carry nucleic acid from the host eukaryotic cells that are widely considered to be crucial for clinical diagnostics. Diagnostic determines a specific areas of an individual that have weakness and strength in order to determine a condition or a disease.
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Exosome Diagnostic and Therapeutic Market Segment Analysis – By End Users
Hospitals held the largest share in the Exosome Diagnostic and Therapeutic Market in 2020 and is estimated to grow at a CAGR 14.2% during the forecast period 2021-2026. This is attributed to the fact that it offers wide availability of instruments and reagents along with the high end technological products.
Exosome Diagnostic and Therapeutic Market Segment Analysis – By Geography
North America dominated the Exosome Diagnostic and Therapeutic Market with a major share of 43.7% in 2020. This is attributed to the increasing expenditures in healthcare industry to ensure quality diagnosis for cancer and growing incidents of cancer. Growing healthcare infrastructure, and technological advancement is also increasing the growth of the market in this region.
Exosome Diagnostic and Therapeutic Market Drivers
Rising Prevalence of Chronic Diseases
Rising prevalence of chronic diseases is increasing the growth of the Exosome Diagnostic and Therapeutic Market. Leading cause of death around the world is owing to the chronic diseases. It is estimated that around 29% of the death is owing to the chronic diseases. 40.5% of the U.S. population suffers from the diseases, according to the American Heart Association and the total cost of the disease from 2010 to 2030 is set to be almost three times from $273Billion to $818Billion. Thus, increasing the growth of the Exosome Diagnostic and Therapeutic Market during the forecast period 2021-2026.
Increasing Prevalence of Cardiovascular Diseases
The increasing prevalence of cardiovascular diseases is rising the growth of the Exosome Diagnostic and Therapeutic Market. This is attributed to the development of the technologically advanced devices with extended longevity. Some of the major factors of cardiovascular disease encompass unhealthy diet, usage of tobacco, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, Four out of 5 cardiovascular deaths are owing to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age. Thus, increasing the growth of the Exosome Diagnostic and Therapeutic Market during the forecast period 2021-2026.
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Exosome Diagnostic and Therapeutic Market Challenges
Affordability Issues Associated with High Cost of the Diagnostic and High Occurrence of Cancer in Low Income Groups
Some of the factors that are set to impede the growth of the Exosome Diagnostic and Therapeutic Market are affordability issues associated with high cost of the diagnostic and high occurrence of cancer in low income groups. Lack of validation standardization for the isolation of exosomes, and unsatisfactory insurance coverage of high cost test are also set to hamper the growth of the market.
Exosome Diagnostic and Therapeutic Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Exosome Diagnostic and Therapeutic Market. In 2020, the Exosome Diagnostic and Therapeutic Market share is consolidated by the top ten players present in the market. The Exosome Diagnostic and Therapeutic Market, top 10 companies are Thermo Fisher Scientific, Exosome Diagnostics Inc., NanoSomic Inc., AMS biotechnology, Miltenyi Biotec, and Aegle Therapeutics among others.
Key Takeaways
North America dominated the Exosome Diagnostic and Therapeutic Market in 2020 owing to the rising prevalence of chronic diseases and increasing need for diagnosing. The Exosome Diagnostic and Therapeutic Market scope for different regions will be provided in the final report.
Increasing demand for anti-aging therapies and availability of various exosome isolation along with purification techniques are likely to aid the market growth of the Exosome Diagnostic and Therapeutic Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Exosome Diagnostic and Therapeutic Market report.
Affordability issues associated with high cost of the diagnostic and high occurrence of cancer in low income groups is poised to create the hurdles for the Exosome Diagnostic and Therapeutic Market.
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