north america exosome diagnostic and therapeutic Market

The North Americanexosome diagnostic and therapeuticmarket is projectedto reach US$ 154,116.95thousandby2027 from US$17,578.32 thousand in 2019; it is estimated to grow with a CAGR of 32.5% from 2020 to 2027.

The growth of the exosome diagnostic and therapeuticmarket is primarily attributed to greater precision and advantages over traditional methods of diagnosis and therapeutics and rise in R&D activities.

Higher benefits and advantages served by exosome biomarkers are enabling players to introduce advanced products. For instance, in January 2019, Avalon GloboCare Corp., one of the prime manufacturers of cell-based technologies, discovered a saliva-based exosomal biomarker—miR-185—that can be used in oral cancer diagnosis and therapeutics. Moreover, the players involved in the exosome-aided diagnostics and treatment are introducing new technologies with intent to spread awareness and acceptance of the application of this method. For instance, in February 2019, NanoView Biosciences, Inc., a Boston-based biotechnology company, launched ExoView platform to enable the precise identification and characterization of exosomes. An increasing number of such R&D activities are accelerating the growth of the market.
In 2019, the diagnostics application segment accounted for a largershare ofthe North American exosome diagnostic and therapeutic market. Itsgrowth is attributed to an increasing adoption of exosome-based instruments and kits for diagnosis of chronic conditions. Additionally, exosome-based diagnostic products offer benefits such as accuracy, lower processing time, and better ergonomics; these are likely to drive the growth of diagnostic application segment in the North American exosome diagnostic and therapeutic market

In 2019, the instrumentsegment held a considerable share of the for exosome diagnostic and therapeutic market, by the product. This segment is also predicted to dominate the market by2027 owing to higher demand for diagnostics instruments. However, the softwaresegment is anticipated to witness growth at a significant rate during the forecast period.

A few major primary and secondary sources for the exosome diagnostic and therapeutic market included in the report are Instrument, US Food and Drug Administration,and Canada Foundation of Innovation.