The exosome market is projected to register a CAGR of 27.89% during the forecast period, with a revenue of approximately USD 174.04 million in 2020.
During the COVID 19 pandemic, there is a rising demand for exosomes which is driving the market growth. Exosomes are 30–120 nm extracellular vesicles that participate in several pathological conditions. Virus-infected cells release exosomes that are implicated in infection through transferring viral components such as viral-derived miRNAs and proteins. As well, exosomes contain receptors for viruses that make recipient cells susceptible to virus entry. Furthermore, a recent study by Devaux et al., published in Journal of Microbiology, Immunology, and Infection 2020, confirmed that spike protein cleavage by Transmembrane protease, serine 2 (TMPRSS2) is needed for COVID-19 virus entry and infection via interaction with the angiotensin-converting enzyme 2 (ACE2) receptor. There is evidence that exosomes transfer ACE2 to receipt cells (Wang et al., 2020), proposing a supportive function for COVID-19 virus internalization and infection.
Certain factors that are driving the market growth include the increasing prevalence of cancer, technological advancements in exosomes isolation and analytical procedures, and increasing advanced applications of exosomes. The growing prevalence of cancer patients has a direct impact on the increased demand for the exosomes market. According to the GLOBOCAN 2020 report, there were 19.29 million people were living with cancer, and this is expected to rise over the next two decades. In the United States, as per the National Cancer Institute report of 2018, an estimated 1.7 million new cases of cancer were diagnosed in the country and nearly 0.6 million patients died due to cancer.
Exosomes extracted from cow milk is being used for the delivery of therapeutic molecules against lung and breast cancers. Exosomes derived from specific sites of the body are promising candidates for anti-cancer vaccines, due to the enhanced passive targeting, owing to its small size, indigenous nature, and the ability to cross the biological barriers. Thus, the increase in cancer cases in the hospitals directly increases the demand for exosomes in diagnosis as well as therapeutics.
However, many technical difficulties need to be addressed for the successful implementation of exosomes in various applications. This is one of the primary hindrances to the growth of the exosomes market.
Some of the major difficulties include optimization of purification, increasing the homogeneity of exosomes, and efficient transfection strategies. This is further accompanied by a lack of technical information, like the type of rotor, diameter, volume, and viscosity of the sample, which restricts the maximum utilization of exosomes.
The cumbersome nature of methods for isolation/purification and inability to distinguish between different cancer stages with an incomplete understanding of the immune system limits the exosomes market.
Other factors limiting the growth of this market are the stringent regulatory requirements for the approval and commercialization of exosome products.
Key Market Trends
The Therapeutic Application Segment is Expected to Hold the Largest Market Share in the Exosomes Market
Exosomes have the capability to serve as a therapeutic platform for many diseases including COVID-19. Exosomes have clinical applications as cell-free alternatives for several disease treatment and tissue regeneration with the help of delivering therapeutic cargo components while circumventing immune rejection and cellular toxicity. In addition stemcell-derived exosomes are advantageous in harnessing the anti-inflammatory and regenerative abilities of parent cells thus exosomal treatment can be engineered for respiratory viral disease including SARS-CoV-2.
Exosomes have promising potential to be as a vehicle for drug delivery as they have natural material transportation properties, the capability of intrinsic long-term circulation, and high biocompatibility, which are the most suitable factors for the delivery of a variety of proteins, chemicals, and nucleic acids. According to a few research studies, exosomes have generated positive results as mediators of the intercellular communication, potentially delivering the functional proteins, mRNA transcripts, and miRNAs to cells throughout the body. Exosomes which are derived from some types of cells such as dendritic and mesenchymal stem cells have potential therapeutic properties and are biocompatible and efficient agents against various disorders such as organ injury. Although there is rapid progress in the research of exosome applications, there are many challenges in the development of exosome-based therapeutics, particularly in the production of the exosome formulations due to their low productivity and heterogeneity and also there are few barriers in the storage, optimizing and isolation methods of exosome formulations
North America Dominates the Market and is Expected to do the Same in the Forecast Period
During the COVID-19, the United States is the most affected country across the world, as the exosomes, extracellular vesicles are considered as potential mediators of infection, reinfection, and reactivation, and the growing number of research with respect to exosomes are positively impacting the market growth in North America.
The North American region holds one of the largest shares in the exosomes market, owing to better healthcare infrastructure, effective government policies, a huge base of multinational companies, and high awareness among people about diagnostics and healthcare. A large number of government-funded research studies have been conducted, regarding the role of drugs using exosomes in several kinds of cancers, such as melanoma, breast cancer, lung cancer, and pancreatic cancer, among others. Companies, like Merck and Exosome Diagnostic, have sponsored and collaborated with several universities, such as Yale University and Michigan State University, to conduct clinical trials in the United States. Furthermore, these ventures are very well supported by government funding. The studies were mostly conducted for neoplasm.
In March 2017, researchers at the Memorial Sloan Kettering Cancer Center and Weill Cornell Medicine received two grants from the Sohn Conference Foundation for the R&D of isolation and characterization of tumor-derived exosomes to study cancer occurrence in children. Exosome-based methodologies have laid a good foundation for several companies and research centers to develop novel diagnostic techniques for complex cases of cancer.
Small companies flooding the marketplace and enhancing the development of novel platforms and advanced technologies may also drive market growth over the forecast period. For instance, in July 2020, ILIAS Biologics was granted a key patent for its EXPLORE technology in the United States.? EXPLOR technology is a novel protein-loading method that enables the active loading of large therapeutic cargo proteins into the lumen of exosomes the nanosized extracellular vesicles through cellular biogenesis processes.?
The exosomes market is highly competitive and consists of a number of major players. Companies, like Danaher (Beckman Coulter Inc.), Diagenode Inc., Fujifilm Holdings Corporation, Hitachi Chemical Diagnostics Inc., Lonza, MBL International, Miltenyi Biotec, Novus Biologicals, Qiagen, Thermo Fisher Scientific Inc., among others, hold the substantial market share in the exosomes market.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cancer
4.2.2 Technological Advancements in Exosomes Isolation and Analytical Procedures
4.2.3 Increasing Advanced Applications of Exosomes
4.3 Market Restraints
4.3.1 Stringent Regulatory Requirement for Approval and Commercialization of Exosome Products
4.3.2 Technical Difficulties with the Implementation and Usage of Exosomes
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Kits and Reagents
5.2 By Application
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Danaher Corporation (Beckman Coulter Inc.)
6.1.2 Diagenode Inc.
6.1.3 Fujifilm Holdings Corporation
6.1.4 Hitachi LTD
6.1.5 Lonza Group Ltd
6.1.6 JSR Corporation (MBL international)
6.1.7 Miltenyi Biotec
6.1.8 Bio-Techne (Novus Biologicals)
6.1.10 Thermo Fisher Scientific Inc.
6.1.11 Illumina, Inc.
6.1.12 Takara Bio Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.