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. As per Global Live Cell Encapsulation Market Trends Analysis, the Global Market based companies will face certain challenges during the forecast period 2020 to 2027.
It is estimated that the Global Live Cell Encapsulation Market Size 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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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.
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.
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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