The growth of this market is driven by factors such as the rising funding for life sciences research, the high global prevalence of cancer, and the increasing interest in exosome-based procedures. 

The pharmaceutical industry is R&D-intensive. Pharmaceutical companies invest in R&D to deliver high-quality and innovative products to the market. Trends suggest that the top pharma companies are increasing their R&D efficiencies through heavy R&D investments to see returns in the longer term and through collaborative R&D efforts. 

According to the EvaluatePharma report, worldwide pharmaceutical R&D spending was valued at USD 136 billion in 2012; this increased to USD 186 billion in 2019. As a result of the COVID-19 outbreak, the global pharma R&D growth rate dropped to 0.3% in 2020. As per the report, this R&D spend is expected to grow steadily between 2019 and 2026 at a CAGR of 3.2% to reach USD 232.5 billion, slower than the historical CAGR of 4.6% between 2012 and 2019. 

Browse in-depth TOC on"Exosome Research Market" 229 – Tables 32 – Figures191 – Pages

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Biomarkers segment accounted for the largest share of the exosome research market

Based on application, the exosome research market is segmented into biomarkers, vaccine development, tissue regeneration, and other applications. Exosomes can be isolated from easily attainable biofluids, including blood, urine, and saliva; this has supported their use as biomarkers in disease management. Exosomes are also being used in developing vaccines against the COVID-19 virus, which accounts for the high growth rate of the vaccine development segment.

Academic & Research Institutes segment accounted for the largest share of exosome research market

Based on end user, the exosome research market is segmented into academic & research institutes, hospital & clinical testing laboratories, and pharmaceutical & biotechnology companies. There has been increasing demand for exosome research in the past few years due to their potential in disease diagnosis and their emerging role as intercellular messengers. This has piqued the interest of academic research professionals, contributing to the dominance of the academic & research institutes end-user segment in the market.

North America accounted for the largest share of the exosome research market

Based on region, the exosome research market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. North America accounted for the largest share of the exosome research market. The US is the key revenue contributor to the North American exosome research market. The high prevalence of cancer coupled with the increasing demand for early and effective disease diagnosis and treatment is the key factor driving market growth in the US.

The prominent players operating in the exosome research market are Thermo Fisher Scientific (US), Bio-Techne (US), Lonza (Switzerland), QIAGEN N.V. (Germany), Miltenyi Biotec (US).