Microspheres Industry Demonstrates a Spectacular Growth by 2027
Overview:
Microspheres, also known as microparticles are derived from
various natural and synthetic polymeric materials which are biodegradable in
nature and have very minute particle size. They find application in numerous
purposes across diverse industry verticals. Typical application areas include
Drug Carriers, Pulmonary Drug Delivery, and Tissue Regeneration. The global microspheres
market is poised to register a CAGR of 11.9% over the forecast period of
2016-2022, projects Market Research Future (MRFR) in its latest report.
The medical industry is the area where microspheres find
predominant application. They are used in drug delivery where they assist in
improving bioavailability, stability, and targetability. Microspheres offer
numerous benefits over conventional drug delivery system and are associated
with the advantages of improved efficacy, improved patient compliance,
convenience, and reduced toxicity. Additionally, microspheres reduce the
concentration of drugs at the unintended site, and such factors have helped the
global microspheres market attain many accolades. Microspheres do not require
surgical implantation, unlike polymer implants which act as a major advantage for
the market growth. Microspheres address the issues of permeability and poor
solubility.
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Microspheres find application in other industries too. They
are increasingly gaining traction within the construction, oil & gas,
automotive and cosmetic industry verticals. Their desirable properties such as
low density, greater thermal insulation, increased impact strength, and
improved dimensional stability make them ideally suited for numerous use cases.
Rigorous R&D efforts in the field of microspheres have
resulted in developments such as polymer-metal microspheres which are foreseen
to augment the growth of the market over the forecast period. Contrarily, the
market growth might be dampened by complex regulatory procedures involved in
attaining approval from FDA and other regulatory bodies.
Segmentation
The global microspheres market has been segmented based on
material, type, and application.
By material, the global microspheres market has been
segmented into synthetic polymers and natural polymers.
By type, the global microspheres market has been segmented
into bioadhesive microspheres, magnetic microspheres, floating microspheres,
radioactive microspheres, and polymeric microspheres.
By application, the global microspheres market has been
segmented into drug carriers, pulmonary drug delivery, tissue regeneration, and
others.
Regional Analysis
By region, the global microspheres market has been segmented
into North America, Europe, Asia Pacific (MEA), and the Middle East &
Africa (MEA). North America is domineering the global microspheres market due
to prolific growth of end-user industries in the region which generates high
demand for microspheres. The established pharmaceutical industry in the region
reflects favorably on the growth of the North America market. The North America
market is likely to capture a CAGR of 11.9% over the forecast period.
Europe accounts for almost 31% share of the global
microspheres market which is expected to reach a valuation of USD 2.44 Bn by
the end of 2022.
APAC is anticipated to register the highest CAGR over the
forecast period. Expanding healthcare and life-sciences industry in the developing
economies of the region support market growth.
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Competitive Landscape
Luminex Corporation (U.S.), Chase Corporation (U.S.),Potters
Industries LLC (U.S.), Matsumoto Yushi Seiyaku Company (Japan), Sigmund Lindner
GmbH (Germany), Mo-Sci Corporation (U.S.), 3M (Unites States), Trelleborg AB
(Sweden), Momentive Performance Materials Inc. (U.S.), AkzoNobel N.V.
(Netherlands) are the key players in the global microspheres market.
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