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 ceramic microspheres 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.
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.
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.
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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