The new report by Expert Market Research titled, ‘Global Bioadhesive Microspheres Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global bioadhesive microspheres market, assessing the market based on its segments like materials, routes of drug delivery, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 8.5%
Growing advancements in drug delivery systems, an increase in the applications of bioadhesive microspheres as a drug carrier, and growing usage of microspheres in clinical research are likely to drive the growth of the bioadhesive microspheres market during the forecast period. Additionally, growing investments in research activities by many key players to develop novel microspheres are likely to enhance the growth of the bioadhesive microspheres market during the forecast period. Also, the increasing prevalence of chronic disease and cancer and the growing demand for minimally invasive drug delivery systems are some of the other major factors that are anticipated to augment the growth of the global market.
Industry Definition and Major Segments
Bioadhesive microspheres have a longer retention duration at the application or absorption site and allow for close contact with the underlying absorption surface, which helps to increase and/or improve drug therapeutic performance. Bioadhesive microspheres have been developed in recent years for systemic and local effects via buccal, oral, rectal, ophthalmic, nasal, and vaginal routes.
By material, the market is segmented into:
Natural Polymers
Synthetic Polymers
Biodegradable
Non-biodegradable
Based on route of drug delivery, the market is divided into:
Oral
Nasal
Ocular
Colorectal
Others
The end-uses of the market are:
Hospitals
Clinics
Academic and Research Institutes
Pharmaceutical and Biotechnology Industries
Others
On the basis of region, the market is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
Companies are looking to develop a novel drug delivery system of the current drug molecule to maximise their impact in terms of therapeutic action and patient protection. Such developments are expected to augment the growth of the global bioadhesive microspheres market. Newer drug discoveries resulting from the emphasis on research and development are also favouring the growth of the global bioadhesive microspheres market and are likely to propel the market in the coming years. The global bioadhesive microspheres market is expected to gain traction in the future years, owing to contributions from both government and private organisations.
Key Market Players
The major players in the market are Henkel AG & Co. KGaA, Ashland Global Holdings Inc., Luminex Corporation, Adhesives Research, Inc., and ABK Biomedical Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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