Microcarrier Industry Will Observe Fastest CAGR in APAC

The microcarrier market is estimated to generate USD 1,508.6 million in 2023, which will touch USD 3,280.9 million, advancing at an 11.8% compound annual growth rate, by 2030.

The growth of this industry is because of the increasing need for cell-based vaccines, the rising R&D activities in the biotech companies, and the surging government investment in research on cells and genes.

The consumables category, based on product, is dominating the industry. This can be because of the repetitive buying of huge quantities of reagents, beads, and media for research & development activities.

Moreover, among these, the microcarrier beads account for the largest share. Because of the vast surface area, beads can produce numerous cells and can be utilized in creating viruses for vaccine manufacturing.

North America is leading the industry, and it is likely to remain leading throughout this decade, generating USD 0.7 billion, by the end of this decade. This can be because of the increasing research on cell & gene therapy, the increasing R&D activities to produce therapeutic vaccines & drugs, and the surging occurrence of infectious ailments.

Furthermore, North America is known to be a center of advanced therapy as well as regenerative drugs, because of the existence of key pharmaceutical & biotech businesses.

APAC, on the other hand, is likely to progress at the fastest rate in the years to come. This will be because of the mounting populace, coupled with the rising cases of illnesses in the region.

Moreover, the regional industry is also driven by the increasing research-based projects to develop personalized drugs and new vaccines for effective disease treatment.

It is because of the growing requirement for cell-based vaccines and rising R&D activities in biotech companies, the microcarrier industry will continue to advance in the coming years.

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How is Growing Chronic Disease Burden Leading Biobanking Market Growth?

It has been estimated that the global disease burden of chronic diseases would increase to 57% by 2020, which was about 46% in 2001, as per the World Health Organization. It is further predicted that chronic diseases would account for three-quarters of all deaths globally by 2020.  Majority of the deaths related to chronic diseases are attributable to cardiovascular diseases, and more cases of diabetes and obesity are being observed. Risk factors such as obesity, high blood cholesterol, and high blood pressure are common causes of four major chronic diseases: cancer, cardiovascular diseases, chronic obstructive pulmonary disease, and type 2 diabetes. Further, unhealthy lifestyle habits, such as tobacco smoking, sedentary lifestyle, alcohol abuse, and poor nutrition, lead to the development of such diseases.  Therefore, with the increasing burden of many life-threatening diseases, research activities for finding a cure for these diseases as well as treatment using unconventional therapies, such as organ transplantation, tissue grafting, regenerative medicine, are witnessing a rise, thereby resulting in the high demand for biobanking methods for the preservation and utilization of cord blood cells and stem cells.

A biobank is a repository which stores, analyses, processes, and transports samples and specimens, such as tissues, biological fluids, cell lines, and human waste products. These samples and specimens are used for clinical diagnosis, research studies, and regenerative medicine.  A P&S Intelligence study showed that the biobanking market generated revenue of $25.8 billion in 2018 and is predicted to witness a 6.2% CAGR in the coming years. 

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Biobanking is used for various applications, such as regenerative medicine, clinical research, and life science & medical research. In the past, the highest demand for biobanking facilities was generated from the clinical research domain due to the requirement for specimens for establishing the safety and efficacy of medication and therapies.

The biobanking ecosystem includes software, consumables, services, and equipment.  In 2014–2018, the highest demand was for the consumables, as they are required for analysis of each sample. Consumables are used for storage, analysis, and processing of the samples and specimens.  Storage consumables are used for storing the samples; commonly utilized consumables are reagents, such as methanol, ethanol, and formaldehyde and storage units, such as vials and test tubes. Maxwell RSC tissue DNA kit, plasma or serum kits are used for analyzing samples. In fact, in the coming time, consumables are expected to continue generating the high demand due to their wide application in research activities.

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Regenerative Medicine Market by Therapy, Type, Application and Future Scope

Regenerative medicine is a comparatively new area of science that involves the restoration of damaged cells, tissues or organs by applying cell therapy, tissue engineering, immunotherapy or gene therapy techniques. On contrary to the present clinical therapeutics that act on slowing the disease progression or relieve symptoms, regenerative medication has a promising therapeutic approach of restoring the function and structure of damaged organs and tissues. The global regenerative medicine market is expected to witness significant growth during the forecast period.

The rise in number of regulatory approvals of regenerative medications is expected to further drive the regenerative medicine market during the forecast period. Moreover, there has been strategic partnership between many companies that has encouraged increased involvement of these companies in the global market. Improvised drug delivery systems for regenerative medicines is also expected to contribute to the growth of the global market.

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Technological innovations in the area of stem cell therapy and tissue engineering has led to rapid growth of the regenerative medicine market size. The key factors which drive the growth of the global market include increase in the demand of orthopaedic surgeries, government healthcare reforms in certain countries such as the U.S. and Canada, aging population, rise in chronic diseases, increasing prevalence of bone and joint diseases, and innovations in nanotechnology that aids in drug delivery mechanism.

However, stringent regulations, ethical issues, and the risk of product failure and their recall are the key barriers for the growth of the regenerative medicine market. The cost of regenerative medicine treatment is significantly high and it is less effective in case of geriatric patients, which hinders the growth of the global market to some extent.

Globally, North America is the largest market for regenerative medicine followed by Europe. The largest regenerative medicine market size of North America is attributed to the high rate of incidence of cardiac disorders, autoimmune diseases, and increasing prevalence of cancer patients among the American population. Additionally, the involvement of government organization for funding in the area of R&D of regenerative medicines, technological advancement and other policies are driving the growth of the North American market.

Some of the other key players operating in the global market include Acelity L.P. Inc., NuVasive Inc., Vericel Corporation, Osiris therapeutics Inc., Integra Lifesciences Corporation, Stryker Corporation, Cook Biotech Incorporated, Organogenesis Inc., and Japan Tissue Engineering Co. Ltd.

Read more: https://www.psmarketresearch.com/market-analysis/regenerative-medicine-market

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