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Exosomes Market Overview
Exosomes Market size is estimated to reach $528million by 2027, growing at a CAGR of 30.2% during the forecast period 2022-2027. Exosomes are really small bubbles/vesicles even miniature than a bacterium discharged from the cells. When MVB (= Multivesicular body) amalgamate with the Plasma membrane it produces extracellular vesicles i.e., exosomes. Diameters of exosomes are 30- 150 nm, in simple words one-millionth of the size of hair. Exosomes convey all the genetic signals necessary to alter the behavior of a bordering cell and empower cell communication. Therefore, exosomes play a significant role in the treatment of HCC (= Hepatocellular carcinoma a liver cancer), and permit cells to get rid of redundant protein. Researchers around the globe are learning and studying exosomes for diagnostic purposes and the treatment of cancer cells. Soaring uses of exosomes in the treatment of ailments such as cancer, upsurge in the pervasiveness of cancer, technological advancement in the medical field are a few factors set to drive the growth of the Exosomes Industry for the period 2022-2027.
Exosomes Market Segment Analysis-By Cancer Application
The Exosomes Market based on the Cancer Application can be further segmented into Kidney cancer, Thyroid cancer, Prostate cancer, HCC (= Hepatocellular carcinoma) liver cancer, Breast cancer, lung cancer, Throat cancer. The lung cancer segment held the largest share in 2021 owing to the factors such as an upsurge in cases of lung cancer due to expansion in the smoking trend among youngsters, increasing pollution. As per the AQI index of various countries, predominant regions have AQI above 101, a pre-approved standard by WHO for a disease-free life. However, as per the latest data study, countries such as India have 20 states who have the AQI index termed “really poor.” Owing to such trends worldwide, the segment took hold.
Lung cancer along with the throat and liver segment is estimated to be the fastest-growing segment with a CAGR of 30.9% over the period 2022-2027. This growth is owing to factors such as wide-spreading cases of the above-mentioned types of cancers, upsurging poor ingestion habits of people, swelling usage of alcohol to deal with depression, Increase in funding by the government and institutions in the field of research and development.
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Exosomes Market Segment Analysis-By End User
The Exosomes Market based on the End User can be further segmented into Hospitals, Pharmaceutical Firms, Research Bodies/Institutions, Testing Clinics. The Research Bodies/Institutions segment held the largest share in 2021 owing to the factors such as the innumerable amount of capital into research and developments of various contemporary tools and techniques which will help in isolating exosomes, breakthroughs in the discovery of drugs. For example, Incyte’s R&D expense jumped to $2.216 billion from the earlier $1.15 billion in 2019. Additionally, the companies have been outsourcing a major chunk of research pertaining activities, which has further allowed them to hold a position.
Moreover, the research bodies segment is estimated to be the fastest-growing segment with a CAGR of 31.1% over the forecast period 2022-2027. This growth is owing to sweeping enlargement in cancer patients which is fueling the demand for advanced tools and techniques for research purposes, increasing trend of digitalization in developed as well as developing countries, liberty to research institutes by the government bodies to conduct their research obstruction-free, Heavy flows of capital/investment to strike breakthroughs.
Exosomes Market Segment Analysis-By Geography
The Exosomes based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the overall market in 2021. The growth in this segment is owing to the factors such as affluent economy ensuing innumerable amounts of hard cash into setting up research laboratories with world-class facilities, presence of premier institutions like MIT, Harvard, etc., surfeit flows of cash into research and development. Additionally, the US government pertains to providing close to 5% of the annual medical budget for R&D purposes, which helps the market to space.
However, the Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2022-2027. This growth is owing to factors such as increment in cancer patients, colossal population, prospering GDPs of developing nations like Vietnam, Indonesia, India, and China ensuring a substantial amount of riches into health infrastructure, and research and development.
Exosomes Market Drivers
The technological breakthrough in isolating exosomes and other practices are Projected to Drive Market Growth.
There are around 2 million diagnosed cases of cancer and approximately 700,000 confirmed deaths in the US. Therefore, as the prevalence of various types of cancer is escalating various researchers around the world are putting their valuable efforts into fabricating useful tools and techniques. Nowadays, exosomes are being extracted from the milk of cows as they have proved their worth in curing breast and lungs cancer. Therefore, the demand for using exosomes in medical treatments is swelling.
Enlarging population and cases of cancer Expected to Boost Product Demand.
The global population is on swell especially the elderly population. According to a study, around 10% of the total population falls under the category of old age and the same figure is estimated to reach 13-14% in the upcoming future. Old age isn’t always soothing. Ofttimes, it comes with a profusion of maladies such as diminished immunity and problems like cancer finding a home easily inside the body which is eventually stimulating the demand for exosomes market. The estimates vary, but a failed trial can cost somewhere between $800 million to $1.4 billion.
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Exosomes Market Challenges
Stringent govt policies, In-depth knowledge is Anticipated to Hamper Market Growth.
Sometimes, getting approval from government bodies for newly manufactured techniques and drugs becomes a big headache for pharmaceutical companies and takes a lot of time. On top of that, isolating exosomes isn’t an easy process. It demands an adequate amount of time, an innumerable amount of funds, laboratories with world-class facilities, and skilled labor. Therefore, the lack of skilled professionals in the field is estimated to cripple the growth of the exosomes market. Additionally, a lot of costs go on if a trial fails at a given stage.
Exosomes Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Exosomes top 10 companies include:
Hitachi Chemical Diagnostics Inc.
Danaher Beckman Coulter Inc.
Thermo fisher scientific inc.
On November 2, 2021, Swiss manufacturer, “Lonza” announced that the company will acquire an exosomes manufacturing facility from a Massachusetts-based firm, “Codiak Biosciences” in return for $65 million. Codiak Biosciences retain their core business of engineering exosomes. Lonza gets global access and sub-licensable rights to Codiak’s exosome manufacturing technology, while Codiak retains its pipeline of therapeutic candidates and some engineering and drug-loading technologies related to exosomes.
On August 26, 2021, A South Korea-based biotech company, “ExoCoBio” announced that the company is soon going to initiate the project, “EGMP” and commence the building of the first facility in the world for exosome-based drug manufacturing. ExoCoBio will invest approximately US $20M to build the EGMP facility whose project actually started in 2019, and after two years of intensive preparation, its construction finally began in August this year.
On June 2, 2020, Sarepta Therapeutics, a leader in generic medicines and Codiak BioSciences, formed an alliance and announced a global research and option agreement, whose priority would be to develop and engineer exosome therapeutics. Additionally, the processes and aim are to find gene therapy, gene editing, and even RNA technologies for rare diseases. Moreover, Codiak is eligible to receive up to $73 million upfront and in near terms alliances.
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Geographically, the North America Exosomes Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the rise in awareness about the presence of state-of-the-art research laboratories. Furthermore, the countries such as Canada and USA allocate up to 18-20% of their budget for medical development and advancements.
The increase in the prevalence of cancer, and exosomes application in curing it is driving the Exosomes Market. However, rigorous government protocols such as consent for the practice of exosomes as curative reagents are one of the major factors that are said to reduce the growth of the Exosomes Market.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Exosomes Market report.
Exosome Diagnostic And Therapeutic Market – Forecast (2022 – 2027)
Cancer Diagnostics Market – Forecast (2022 – 2027)
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