The global angiogenesis assays market is on an impressive upward trajectory, according to the latest report by Future Market Insights. Valued at US$ 1,972.1 million in 2022, the industry is forecasted to reach US$ 2,139.7 million by the end of 2023. This growth represents a robust compound annual growth rate (CAGR) of 9.10% between 2023 and 2033.
The predictions indicate an even more remarkable surge in the industry, with estimates pointing towards a staggering value of approximately US$ 5,112.2 million by 2033. This substantial growth underscores the increasing importance and potential of angiogenesis assays in the medical and pharmaceutical sectors.
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Angiogenesis assays, pivotal in studying the formation of new blood vessels, play a critical role in various domains, including cancer research, cardiovascular disease management, and developmental biology. The escalating investments in healthcare research and the rising prevalence of chronic diseases are key factors propelling the demand for these assays globally.
“This projected growth signifies a significant leap for the angiogenesis assays industry,” stated a spokesperson from Future Market Insights. “The expanding applications of these assays in understanding disease mechanisms and identifying potential therapeutic targets are driving this exponential market expansion.”
The robust growth of this industry holds promising opportunities for pharmaceutical companies, research institutions, and healthcare entities investing in cutting-edge technologies to advance medical treatments and drug development.
The report highlights the potential for innovation and technological advancements within the angiogenesis assays sector, paving the way for novel diagnostics and therapeutic interventions.
As the industry continues its rapid evolution, stakeholders are encouraged to stay abreast of these developments to leverage the emerging opportunities.
Key Takeaways from the Market Study:
- Global angiogenesis assays industry grew at a CAGR of 7.3% between 2017 and 2022
- Global angiogenesis assay industry demand is anticipated to be valued at US$ 1,972.1 million in 2022, forecast to grow at a CAGR of 9% to be valued at US$ 4,650 million from 2022 to 2032
- North America holds the major share of the market, with a market share of 38.1%, and the United States factor is expected to accelerate the market growth with a market share of 43.0%.
- India is said to grow at a CAGR of 10.9% and China’s growth at a CAGR of 10.2% is anticipated to favor the growth of the angiogenesis assay market during the forecast period, attributed to the rising prevalence of the chronic diseases, and increasing cell-based studies in the region including Australia growing at a CAGR of 8.7% and Japan holding the value share of 5.3%.
- Europe is said to hold a market share of 29.3% after North America, where the United Kingdom and Germany are said to hold a major portion in this market where United Kingdom grows at a CAGR of 8.1% whereas Germany has a value share of 6.7%
- In-vitro angiogenesis application is said to be faring holds a market share of 63.0%
- Hospitals are considered to be the most in-demand hold a value share of 48.0% in this market
- Angiogenesis tube formation assays are said to hold a dominant position are said to hold a major market share of 52.3%
“Increase in the number of research and development activities is one of the major drivers of the angiogenesis assays market”, comments a Future Market Insights analyst
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Competitive Analysis:
Some of the prominent players in the global market are-
- Cell Biolabs, Inc.
- Thermo Fisher Scientific
- Abcam plc.
- PromoCell GmbH
- Merck KGaA
- ATCC
- Corning Incorporated
- Bio-Techne
- Molecular Devices, LLC
- BioVision, Inc.
Some of the important developments of the key players in the market are:
- In February 2023, Innovative drugs often mean new treatment options for patients and advances in health care for the American public. When it comes the development of new drugs and therapeutic biological products, FDA’s Center for Drug Evaluation and Research (CDER) provides clarity to drug developers on the necessary study design elements and other data needed in the drug application to support a full and comprehensive assessment.
- In February 2023, Merck known as MSD outside of the United States and Canada, announced that it has reached an agreement to sell its 108-acre campus in Kenilworth, N.J., to Onyx Equities, LLC.
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Key Segments Profiled in the Angiogenesis Assay Industry Survey:
Product Type:
- Angiogenesis Tube Formation Assays
- Microfluidic
- Endothelial Adhesion
- Invasion and Migration Assays
Application:
- In Vitro Angiogenesis
- In Vivo Angiogenesis
End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- China
- Japan
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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