Live Cell Encapsulation Market Strategic Insights and key Business Influencing Factors
Numerous factors such as a high level of research activities
in live cell encapsulation technologies and the rising awareness programs in
various countries are anticipated to fuel the growth of the market. Moreover,
the increasing investments by various public and private organizations have
created a lucrative option for many companies to invest in providing new
encapsulation techniques, leading to the overall growth of the market.
Furthermore, the inclination towards novel drug delivery systems for disease
management fuels the growth of the market during the forecast period.
It is estimated that the Global Live
Cell Encapsulation Market is expected to register a CAGR ~ 3.22% during the
forecast period of 2018 to 2023, with an estimated market value of USD 249.87
million in 2017.However, the lack of skilled technicians, and ethical and legal
issues, and unaffordability of various small-scale companies to enter the
market due to high product manufacturing costs are expected to curb the growth
of live cell encapsulation market. Moreover, the availability of high-quality
raw material is also restraining the growth of the market.
The global live cell encapsulation market is currently
dominated by many market players. The key players in the market are involved in
new product launches and strategic collaborations to strengthen its market
position. For instance, in August 2018, Balchem Italia S.r.l., a wholly owned
subsidiary of Balchem Corporation, acquired Bioscreen Technologies, S.r.l., a
privately held manufacturer of encapsulated and fermented feed nutrition
ingredients. With this, the company aims to expand its position in the market.
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Segmentation
The Global Live Cell Encapsulation Market has been segmented
into manufacturing technique, polymer type, and application. The market, based
on manufacturing technique, has been segmented into simple dripping,
electrostatic dripping, coaxial airflow, rotating disk atomization, and others.
The market, by polymer type, has been further segmented into alginate,
HEMA-MMA, Chitosan, silica, cellulose sulfate, PAN-PVC, and others. The market,
by application, has been segmented into drug delivery, regenerative medicine,
cell transplantation, and others.
Regional Analysis
The market in the Americas is expected to dominate the
global live cell encapsulation market during the forecast period owing to the
increasing per capita healthcare expenditure, and the heavy adoption of new
technology in the region. Europe is expected to hold the second largest
position in the global live cell encapsulation market. The market growth in
this region is because of the presence of a well-established healthcare system
and increase in life-threatening diseases. For instance, according to cancer
research UK, there were approximately 9,921 cases of cancer diagnosed in 2015.
Such high rates of cancer are likely to increase demand for the use of new
techniques such as encapsulation as well as an increase in the market demand
for cellular research. These factors are expected to have a positive impact on
the live cell encapsulation market. Asia-Pacific is estimated to be the fastest
growing region in the market due to the huge patient pool of chronic diseases
and government initiatives of healthcare reforms. The market in the Middle East
& Africa is likely to account for the smallest share of the global live
cell encapsulation market. The market growth in this region owes to the low
disposable income in the region.
Key Players
Some of the key players in the global live cell encapsulation
market are Evonik Industries, Balchem Corporation, Biotime, Inc., Blacktrace
Holdings Ltd., Sigilon Therapeutics, Inc., BÜCHI Labortechnik AG, Encapsys,
LLC, Lycored, MiKroCaps, Living Cell Technologies, Merck KGaA, Reed Pacific Pty
Limited, Neurotech Holdings, LLC, Sernova Corporation, and Viacyte, Inc.
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