Biotechnology research is advancing in many fields. For example, genetic sequencing technology is advancing rapidly, with a heaving focus in cancer diagnostics within the healthcare sector.
At the same time, companies that are operating in the cell line markets are investing a huge amount of money to get state-of-the-art manufacturing units up and running.
Gene therapy technology is leading the way in curing diseases that do not currently have an effective therapeutic solution. A good example of this is a third-generation AAV-based gene therapy for Alzheimer’s disease that is being developed by Johnson & Johnson and University of Pennsylvania. This research is expected to pave the way for future innovations in both AAV-based gene therapy and other disease solutions.
In today’s post, we look at the highlights of the following markets, providing you with key insights for your project or report.
- Cancer Profiling and Pathways
- Exosome Diagnostics and Therapeutics
- Stem Cell and Regenerative Therapy
Cancer Profiling and Pathways
When it comes to advancing the way the healthcare industry addresses cancer, from point-of-care diagnostics to treating the actual cancer, cancer profiling and pathways technologies are heading the charge. The key changes they are set to bring about include:
- Availability of cost-effective treatment modalities
- Availability of personalized medicine
- Efficient early stage diagnosis
- Efficient cancer treatment options
The global market for cancer and tumor profiling is expected to see an increase in technological advancements due to the increasing investments in the sector. Additionally, the forecast for the market is expected to experience improvements in both biomarker discovery and prognosis.
The demand for safe and cost-effective drugs for cancer treatments is further boosting the market.
- The global market for cancer profiling technologies is set to reach $90.6 million by 2023, at a CAGR of 14.9%.
- North America is the largest center for cancer/tumor profiling market, which accounts for the largest share, followed by Europe and Asia.
- Genomics is the largest segment of the market and is estimated to reach $35.5 million at a CAGR of 13.3% in 2023.
Exosomes are contained in the fluids of the human body. They transfer cytoplasmic ingredients to other cells, and once they reach the recipient cells, the cytoplasmic ingredients are able to alter biology. Therefore, they are being widely adopted by several end users. The three biggest ones are hospitals, diagnostic centers and research institutions.
Scientists believe that the biomolecules in exosomes can be profiled and used as biomarkers for different diseases. The market for the exosome approach is broken down into three segments:
- End User
- The global market for exosome diagnostics and therapeutics is estimated to reach $186.2 million by 2023, growing at a CAGR of 39.9%.
- Reagents hold the largest share of the market, growing to $102 million growing at a CAGR of 41.1% by 2023.
- North America dominates the market, growing to $73.3 million at a CAGR of 39.4% by 2023.
Stem-cell therapy is being used significantly in biomedical research. Stem-cell-based assays and drug discovery diagnostics are being applied to the fields of medical diagnostics as well as drug discovery. Research is currently playing a major role in the creation of stem cell technology that is being used in novel ways beyond therapeutics. The industry is looking to use biomedical research to procure the following:
- Stem cell isolation
- Maintenance and preservation procedures
- The global market for stem cell and regenerative medicines is expected to grow at a CAGR of 20.4% to reach approximately $55.0 billion by 2024.
- The North America region is anticipated to reach $23.5 million at a CAGR of 20.3% by 2024.
- The therapeutic products segment is estimated to grow at a CAGR of 20.8% through 2024.
Learn more about the Biotechnology Market
For more intel about the biotech market, check out our full report: 2019 Biotechnology Research Review.