The global angiogenesis assays market is on a remarkable growth trajectory, according to the latest report from Future Market Insights. The industry, valued at USD 1,972.1 million in 2022, is set to surge to USD 2,139.7 million by the end of 2023. This impressive increase reflects a robust compound annual growth rate (CAGR) of 9.10% projected between 2023 and 2033.
The escalating demand for angiogenesis assays highlights their growing significance and potential within the medical and pharmaceutical sectors. These assays are pivotal in studying the formation of new blood vessels, providing valuable insights into a range of critical diseases, including cancer, cardiovascular conditions, and ophthalmic disorders.
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Projections indicate an even more staggering surge in the industry, with estimates pointing towards a value of approximately USD 5,112.2 million by 2033. This anticipated growth reflects the growing demand for innovative solutions in drug development, personalized medicine, and disease diagnostics.
As advancements in medical research continue to drive the need for more precise and efficient assays, the global angiogenesis assays market is poised for substantial expansion. Companies operating in this sector are encouraged to leverage this opportunity by investing in research and development initiatives and forging strategic partnerships to capitalize on emerging trends and market demands.
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 USD 1,972.1 million in 2022, forecast to grow at a CAGR of 9% to be valued at USD 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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