Live Cell Encapsulation Market Projected To Generate Revenue Of $303 million by 2024
According to the new market research report “Live Cell Encapsulation Market by Technique (Dripping (Simple, Electrostatic), Coaxial Airflow, Liquid Jet), Polymer (Alginate, Chitosan, Silica, Cellulose Sulfate), Application (Probiotics, Transplant, Drug Delivery, Research) – Forecast to 2024”, published by MarketsandMarkets™, the global Live Cell Encapsulation Market is projected to reach USD 303 million by 2024 from USD 250 million in 2018, at a CAGR of 3.2%.
The major factors driving the growth of the Live Cell Encapsulation Market are the rising public awareness related to the clinical role of encapsulated cells in disease management, increasing public-private investments to support product development, and the rising adoption of novel drug delivery systems for disease treatment.
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Simple dripping segment is expected to account for the largest share of the Live Cell Encapsulation Market, by manufacturing technique, in 2018
Based on manufacturing technique, the Live Cell Encapsulation Market is segmented into . The instruments segment is expected to account for the largest share of the Live Cell Encapsulation Market in 2019. The increasing adoption due to the procedural benefits (such as simple process, product biocompatibility, and low particle size distribution) are the major factors driving the growth of this market segment.
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Alginate polymers segment estimated to be the fastest-growing polymer type segment during the forecast period
Based on polymer type, the Live Cell Encapsulation Market is segmented into alginate, HEMA-MMA (hydroxyethyl methacrylate-methyl methacrylate), chitosan, siliceous encapsulates, cellulose sulfate, PAN-PVC [poly (acrylonitrile vinyl chloride)], and other polymers. The alginate segment is expected to grow at the highest CAGR during the forecast period primarily due to the procedural benefits such as uniform cell structures and high mechanical stability.
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Drug delivery to account for the largest share of the Live Cell Encapsulation Market, by application, in 2018
Based on end user, the Live Cell Encapsulation Market is segmented into drug delivery, regenerative medicine, cell transplantation, probiotics, and research. Drug delivery are estimated to be the largest application of live cell encapsulation, and this trend is expected to continue during the forecast period. The large share of this application segment can be attributed to the ongoing technological advancements in the field of cell encapsulation and increased product affordability, and usage of biocompatible immobilization or isolation systems.
North America to dominate the Live Cell Encapsulation Market during the forecast period
The Live Cell Encapsulation Market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America is estimated to be the largest regional market for live cell encapsulation in 2019 majorly due to the increasing clinical data for the efficacy of the cell encapsulation technique and the rising adoption of cell encapsulation techniques among medical professionals.
The major players operating in the Live Cell Encapsulation Market are BioTime, Inc. (US), Reed Pacific Pty Ltd. (Australia), Viacyte, Inc. (US), Neurotech Pharmaceuticals, Inc. (US), and Living Cell Technologies Ltd. (Australia) were the top five players in the global Live Cell Encapsulation Market. Other prominent players operating in this market include Merck KGAA (Germany), Sigilon Therapeutics, Inc. (US), Encapsys, LLC (US), Evonik Industries (Germany), Lycored (Israel), MiKroCaps (Slovenia), BÜCHI Labortechnik AG (Germany), Blacktrace Holdings Ltd (UK), Sernova Corporation (Canada), and Balchem Corporation (US), among others.