Market Overview:
Microspheres
are extensively used in the healthcare sector owing to their qualities such as chemical resistance, enhanced
processing, heat resistance, thermal stability, and
others. Market Research Future (MRFR) has published a report stating that the
global microspheres market share is projected to reach USD 10.99 Billion at a
CAGR of 12.20% during the forecast period of 2023-2032.
Key Players:
Global
microspheres
market report players profiled by MRFR that are 3M (Unites States), Potters Industries LLC (United States),
AkzoNobel N.V. (Netherlands), Momentive Performance Materials Inc. (United
States), Chase Corporation (United States), Matsumoto Yushi Seiyaku Company
(Japan), Mo-Sci Corporation (United States), Trelleborg AB (Sweden), Luminex
Corporation (United States) and others.
Market Drivers and Restraints:
Increased
research for the development of advanced medical devices that ensure effective
drug delivery is fueling the growth of the global microspheres market research
as these microparticles are extensively utilized in such devices. Rapid
technological advancement is also aiding the development of medical devices and
treatment techniques that require microspheres, which in turn is propelling the
growth of the global microspheres market. However, low penetration of
technologically advanced solutions in the underdeveloped countries is
restraining the growth of the global microspheres market during the review
period.
The
global microspheres market trends has been segmented on the basis of material,
types, and application. Based on material, the global microspheres market has
been segmented into synthetic polymers and natural polymers. Based on type, the global microspheres market has been
segmented into bioadhesive microspheres, magnetic microspheres, floating
microspheres, radioactive microspheres, and polymeric microspheres. Based on
application, the global microspheres market has been segmented into drug
carrier, pulmonary drug delivery, tissue regeneration, and others.
Regional Analysis:
Geographically,
the global microspheres
market overview has been segmented into four major
regions such as North America, Europe, Asia Pacific, and the Middle East and Africa. The North America region is
projecting dominance over the global microspheres market owing to the rapid
technological advancement &easy adoption of technologically advanced
solutions in the well-developed healthcare sector in this region. This region is forcasted to expand at a
significant CAGR of 11.3% during the
forecast period of 2016-2022. Whereas, the
Europe region is projected to be the second largest market in the global microspheres
market, expanding at a noteworthy CAGR of 11.5% during the assessment period. The market in this region is majorly driven by
the increased research and development activities that are being carried out in
the pharmaceutical industry, presence of large number of prominent players and increased
healthcare expenditure by the population of the Europe region. The Asia Pacific
region is forecasted to project the fastest growth in the global microspheres market owing to the increased government
funding for the development of healthcare
sector and rapid expansion of the
pharmaceutical industry in this region. Poor economic conditions, low
penetration of advanced technology and absence of primary healthcare services
in the underdeveloped countries are leading to the slow growth of the microspheres market in the Middle East and Africa region.
About US:
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New York 10013
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America
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