Middle East and Africa Exosome Research Products Market Outline Analysis:
The Middle East and Africa (MEA) Exosome Research Products Market was valued at USD 760 million in 2018 and is expected to reach USD 1098 million by 2025, at a CAGR of 5.49% during the forecast period.
The exosome research products market in the MEA is expected to grow in the forecast period owing to factors such as the growing prevalence of cancer, growing interest in exosome-based procedures and increasing funding for life science research. Nevertheless, the dearth of skilled professionals may hamper market growth during the forecast period.
The increasing need for screening and diagnosis of chronic diseases coupled with the high therapeutic potential of exosomes are fueling the selection of exosome diagnostics and therapeutics in this region. Moreover, the introduction of explicit systems for analysis of proteins specific to exosomes, increasing research and development activities supported by favorable government policies across various regions and the increasing popularity of exosome over CTC and ctDNA are anticipated to trigger the growth of the MEA market in the years to follow.
On the opposite, lack of standardization and validation conditions for isolation of exosomes is expected to pose hindrances to the majority of the MEA market. Other factors negatively impacting the market’s growth involve heavy investments in research and development and inadequate insurance coverage of costly cancer diagnostic tests.
Middle East and Africa Exosome Research Products Market Growth Analysis:
Nanovesicles, which play a significant role in intercellular communication, is anticipated to witness a notable rise in R&D, leading to revenue growth in the coming years. Application of these blisters as carriers of functional content before-mentioned as circulating nucleic acids, lipids, and proteins can be attached to market growth. In addition, exosomes play an essential role in immunosurveillance and tumor pathogenesis. Developing research programs focusing on determining the role of exosomes in hepatocellular carcinoma (HCC) is expected to drive the regional market.
The rising number of articles pertaining to exosome research is encouraging R&D activities in the field. In addition to the exponential growth in article publication, number of companies engaged in the research is also growing. These companies are taking hold of the natural propensity of exosomes for the delivery of macromolecule payloads between cells. Application of these molecules in research projects related to therapeutics and diagnostics is projected to result in an exponential increase in the coming years.
Furthermore, an increase in funding for R&D in this field is poised to absolutely influence industrial growth. Increase in funding capacity by public and private institutions is suggestive of the importance of exRNA molecules across the community involved in translational research pertaining to diagnostics and therapeutic product development. Few more circumstances driving the growth of this market include the increasing funding for life science research, the leading prevalence of cancer, and the growing interest in related procedures.
Middle East and Africa Exosome Research Products Market Segment Analysis:
Based on cancer applications, the exosome research products market is divided into lung, prostate, breast, colorectal, and other cancers. In 2019, lung cancer accounted for the highest share of the regional market in terms of revenue. The high share of this segment can primarily be attributed to factors such as the growing prevalence of lung cancer, technological advancements in instruments & assays for liquid biopsy, and the increasing demand for advanced diagnostic technologies.
Based on products and services, the market is divided into kits and reagents, instruments, and services. The kits and reagents section accounted for the highest market share in 2018. The large share of this segment is attributed to the growing demand for liquid biopsy tests, developing basic research and commercial applications of exosomes, and the demand for reliable and specific diagnostic assays.
Recent Happenings in the world market:
In 2017, Thermo Fisher Scientific anticipated its presence in the US by opening the U.S. Precision Medicine Science Center (PMSC) in Cambridge. This center is concentrate to develop analytical workflows to generate precise molecular profiles of patients.
In 2018, Lonza acquired HansaBioMed Life Sciences (Estonia). This acquisition was concentrate to develop exosomes for next-generation life science applications.
In 2017, Lonza established its Collaborative Innovation Center (CIC) in the modern Life Science Park in the outskirts of Haifa, Israel. This center concentrates on R&D projects of Lonza's Pharma & Biotech segment.
Prominent Players Covered in this Middle East and Africa Exosome Research Products Market report are:
- QIAGEN N.V.
- Thermo Fisher Scientific
- System Biosciences, LLC.
- Miltenyi Biotec
- NX Pharmagen
- AMS Biotechnology Limited
- Norgen Biotek Corp
This research report includes following segmentation for the Middle East and Africa Exosome Research Products Market size and forecast 2018 - 2025
Based on Cancer Applications
Based on Products and Services
- Kits and reagents
Based on End - User
- Hospitals & clinical testing laboratories
- Academic & research institutes
- Pharmaceutical & biotechnology companies
Middle East and Africa Exosome Research Products Market – By Region
- Saudi Arabia
- South Africa
- Rest of MEA