Exosome Diagnostic and Therapeutic Market size is anticipated to grow significantly from 2018 to 2024.Exosome diagnostic and therapeutic market will show a significant growth in the upcoming years. It is one of the emerging market for diagnosis of cancer. Rising incidences of cancers such as colon cancer, lymphoma, breast cancer and ovarian cancer have accelerated the demand for exosome diagnostic market. Life style modifications and other factors such as addiction have further boosted the growth of this market. Growing population has lead to an increase in demand for the therapeutics business segment. Increase in demand for instruments needed for detection of cancer has supported the market growth. For instance, in 2015, globally 8.8 million deaths were due to cancer that is the second leading cause of death.
Rising income levels have facilitated the healthcare expenditures in developed countries. Development in the healthcare sector to provide accurate diagnostic devices and improvised therapies that has boosted the market demand for exosome diagnostic reagents and therapeutics. Moreover, technological advancements in developed countries have resulted in superior innovations in research and development that have resulted in market growth. Increase in lifestyle changes and industrial pollution have increased the rate of occurrence of cancer propelling the market growth.
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Affordability issues associated with the high costs of exosome diagnostic may hamper the market decreasing the demand for the therapeutics as well as the diagnosis. High occurrence of cancer in low income groups and developing economies may further affect the market growth.
The instrument segment of exosome is the largest growing segment owing to an increasing prevalence of cancer that needs accurate diagnosis. Emergence for early diagnosis and detection of cancer has further propelled the business segment growth. The instruments required for exosome diagnostic test are in high demand due to these reasons.
Exosomes will drive the diagnostic application due to increasing development in research. The diagnostic application will boost the market growth accounting to increasing population that is suffering from cancer. The diagnostic tests collect the genetic information from the exosomes of patients that give real-time information about presence of tumor that will aid accurate diagnosis. These tests are of high importance in countries that have high awareness about the cancer diagnosis and treatments.
Cancer institutes will drive the exosome diagnostic and therapeutic market. Increasing demand for diagnostics and therapies for cancer has created the need for establishment of new cancer institutes. Developed countries have invested huge capital for eradication of cancer. The increasing prevalence of cancer has accelerated demand for extensive research and development that is carried in the cancer institutes.
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U.S. will show a great demand for exosome diagnostic and therapeutic market owing to technological advancements. The increasing expenditures in healthcare industry will foster industry growth in U.S. ensuring quality diagnosis for cancer. Nicotine addiction and increasing pollution have given rise to growing incidents of cancer that have created an emergence for chemotherapies and accurate diagnosis. The aforementioned factors have increased the market demand in North America.
India will drive the exosome diagnostic and therapeutic market. The application of exosomes in detection of cancer and other diseases such as multiple-sclerosis have generated a huge demand for exosome diagnostic reagents and instruments in India. Increasing government initiatives that develop research and development activities have improved the way of diagnosing the diseases that has increased the market demand.
Some of the key industry players include AMS Biotechnology Limited, 101BIO Therapeutic Solutions International, BioRegenerative Sciences, Cell Guidance Systems, ExoCyte Therapeutics, Evomic Science, Exosomedx, Immune Therapy, Norgen Biotek, ReNeuron Group and Thermofisher. In March 2018, collaborated Exosome Diagnostics with Intezyne to develop a novel therapy that would include exosome detection for diagnosing pancreatic, gastric and other cancers. This collaboration will expand the product portfolio of Intezyne that will expand Exosomes Diagnostic’s portfolio thereby generating revenue.