The Europe exosome diagnostic and therapeutic market is projected to reach US$ 12,524.24 thousand in 2019 to US$ 104,694.72 thousand by 2027. This represents a CAGR of 31.7% from 2020 to 2027.
The growth of the exosome diagnostic and therapeutic market is primarily attributed to greater precision, advantages over traditional methods of diagnosis and therapeutics, and rise in R&D activities.
Exosome is an emerging industry with a huge potential. Applications of exosomes are expanding rapidly in the areas of disease diagnosis and treatment as well as pharmaceuticals. Exosomes are nanovesicles and act as a vehicle to deliver therapies to cells of the body. In the future, exosomes can be used as potential biomarkers and in the field of personalized medicine. Interest in exosome research has increased dramatically in recent years, driving the growth of the exosome diagnostic and therapeutic market in the UK. New exosome therapeutics companies are rapidly entering the marketplace. The investment flow has also increased to support such innovative therapeutic companies, further boosting the growth of the market. For example, in 2016, ReNeuron Group plc, a leading UK-based stem cell therapy development company, was awarded about US$ 2.6 million grant from Innovate UK to advance its emerging exosome nanomedicine platform.
In terms of application, the diagnostics application segment accounted for a larger share of the Europe exosome diagnostic and therapeutic market. Its growth 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 Europe exosome diagnostic and therapeutic market
In 2019, the instrument segment held a considerable share of the for exosome diagnostic and therapeutic market, by the product. This segment is also predicted to dominate the market by 2027 owing to higher demand for diagnostics instruments. However, the software segment 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 World Health Organization, among others.