Microspheres Market Overview:
Microspheres are characteristically free flowing powders having a particle size less than 200 µm. The microspheres used are usually polymers that are classified into two material type the first one is the natural polymers and the other one is the synthetic polymers. These microspheres are used in various industries such as pharmaceutical industry, construction industry, cosmetics industry, oil & gas industry and automotive industry.
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The global Microspheres market is growing with the prompt pace. The market is forecast to establish a significant growth by 2022, beyond its previous growth records in terms of value with a striking CAGR of 11.9% during the anticipated period (2017 – 2022). The global microspheres market is growing at a rapid pace. The growth of the market is majorly upsurged by various applications and advancements of microspheres in a controlled delivery system. The various application such as carriers for drugs, absorption, and desorption of substances, pulmonary drug delivery, and tissue regeneration are influencing the growth of microspheres in the field of pharmaceutical industry. Furthermore, development in new drugs, government funding in research and development of microspheres and various others applications of microspheres in the field of construction industry, cosmetics industry, oil & gas industry and automotive industry are further enhancing the market for microspheres. As there is a wide range of factors that are driving the growth of the market, there are few barriers as well that hamper the market for microspheres. One of the factors that hamper the growth of the market are fluctuating price of raw materials, huge investment in R&D and the limitation of microspheres such as, the release rate of dose may vary from one dose to another.
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 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.
Microspheres Market Segmentation:
The global microspheres market 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.
Competitive Analysis
The market for microspheres is characterized by the presence of several well-established and small players, the global market for microspheres appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. To attract the customers the companies have launched the products of different materials and in different sizes. Some companies have adopted the strategy of acquisition and collaboration to expand their market and minimize the competition. Innovation is the best way to gain the market, thus, a number of companies are involved in the development of new and better products.
For instance, in January 2017, Telko has established a new partnership with Potters to supply performance solid and hollow microspheres for a variety of applications. This partnership can help both Potters and Sovitec to deal a more widespread, cost-effective and high-quality portfolio of products and services to the customers worldwide.
Regional Analysis
Globally, North America holds the largest share of more than 44% of global microspheres market and is expected to be the leading market during 2016-2022. This large share is majorly attributed due to growing technology advancement in the field of medical science in the region, rapidly growing pharmaceutical industry, increasing need for the new formulations for the development of new drugs, some of the key factors driving the growth of this market.
Globally Europe holds the second largest share of about 31% of the global microspheres market. The European market is expected to reach USD 2.44 billion by the end of the forecasted period from 2016 to 2022. Asia-Pacific region is anticipated to observe the highest growth rate in the near future due to growing healthcare and life-sciences industry, increased adoption of microspheres in developing countries, are the key drivers that are influencing the market to grow at a rapid pace in this region. Furthermore, major players are grabbing the opportunity by expanding their operating sites in the region and thus increasing the growth of this market for the forecasted period from 2016 to 2022.
Table of Content
1 Introduction
1.1 Definition
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porter’s five forces model
4.1.1 Bargaining Power of suppliers
4.1.2 Bargaining Power of Customer
4.1.3 Intensity of Competitor’s
4.1.4 Threat of New Entrants
5 Global Microspheres Market, by Material
5.1 Introduction
5.1.1 Synthetic Polymers
5.1.2 Natural Polymers
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