Market Trends of Polymer Microspheres Industry
This section covers the major market trends shaping the Polymer Microspheres Market according to our research experts:
Increasing Demand from the Life Science and Pharmaceutical Industry
- Polymeric microspheresare used to a significant extent in many biomedical and biotechnology research applications.
- These microspheres are sized 10 microns to 1,000 microns and generally composed of polystyrene (PS) or polyethylene (PE).These microspheres can also be ligand coupled to proteins, peptides, antibodies, DNA or RNA on the demand of the intended application.
- Injection of microspheres, as a bulking agent, which are covered with collagen and growth factors, to induce tissue regeneration and formation, while improving the efficiency of the therapy and diminishing the risk of particle migration
- The polymer microspheres used in the pharmaceutical industry are polymeric particles, which have sizes ranging from 5-150 microns, carrying the APIs (active pharmaceutical ingredients) in the patient’s body for continuous release over time.
- Synthetic polymeric microspheres are widely used in clinical applications as bulking agents, fillers, embolic particles, and drug delivery vehicles; they have proved to be safe and biocompatible.
- All the aforementioned factorsare expected to drive the Polymeric microspheresmarket, during the forecast period.
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North American Region to Dominate the Market
- The United States dominated the North America market with a share of more than 65%.
- The pharmaceutical sector has been one of the major industries in the United States, as well as one of the most R&D intensive industries in the country. According to IFPMA, the share of the US pharmaceutical industry is expected to increase.
- The US cosmetic industry is also expanding. Polymer microspheres are extensively used in anti-aging products, as well as in the manufacturing of shampoo, hair gels, hair creams, etc. The increasing elderly population in the country is further estimated to boost the demand for anti-wrinkle and other hair-related products.
- The US electronics market is the largest market in the world, in terms of size. Furthermore, it is expected to remain the leading market over the forecast period, due to the usage of advanced technology, an increase in the number of R&D centers, and rising demand from the consumers.
- There is a significant demand for newer and faster electronic products, due to the rapid pace of innovation, the advancement of technology, and R&D activities in the electronics industry. There is a significant increase in the number of manufacturing plants and development centers in the United States, primarily due to the focus on developing high-end products. This is expected to boost the demand for polymer microspheres over the forecast period.
- With the growing demand from various end-user industries, the market for polymer microspheres is expected to grow during the forecast period.
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