The market for polymer microspheres is anticipated to register a CAGR of more than 9% during the forecast period. One of the major factors driving the growth of the market is the increasing demand from the pharmaceutical industry, as a drug delivery system for active pharmaceutical ingredients. Injectable represents the fastest growing application segment of the polymeric microspheres market and is responsible for the current robust growth of the market.
- Polymer microspheres have been witnessing high demand from the electronics industry, owing to their usage in the electronic equipment’s display. They have a wide range of other applications in the electronics sector, including usage in LCD screens and monitors, and mobile phone screens, thereby augmenting the growth of the market.
- With a rise in concern for looks and beauty, there has been a significant increase in the number of cosmetic surgeries, worldwide. This increase is, consequently, contributing to the demand for polymer microspheres, due to their requirements in cosmetic surgeries, including face and head procedures, breast procedures, and body and extremities, which is, in turn, benefitting the market to a great extent during the forecast period.
Key Market Trends
Increasing Demand from the Life Science and Pharmaceutical Industry
- Polymeric microspheres are used to a significant extent in many biomedical and biotechnology research applications.
- These microspheres are sized 10 microns to 1,000 microns and generally composed of polystyrene (PS) or polyethylene (PE). These microspheres can also be ligand coupled to proteins, peptides, antibodies, DNA or RNA on the demand of the intended application.
- Injection of microspheres, as a bulking agent, which are covered with collagen and growth factors, to induce tissue regeneration and formation, while improving the efficiency of the therapy and diminishing the risk of particle migration
- The polymer microspheres used in the pharmaceutical industry are polymeric particles, which have sizes ranging from 5-150 microns, carrying the APIs (active pharmaceutical ingredients) in the patient’s body for continuous release over time.
- Synthetic polymeric microspheres are widely used in clinical applications as bulking agents, fillers, embolic particles, and drug delivery vehicles; they have proved to be safe and biocompatible.
- All the aforementioned factors are expected to drive the Polymeric microspheres market, during the forecast period.
North American Region to Dominate the Market
- The United States dominated the North America market with a share of more than 65%.
- The pharmaceutical sector has been one of the major industries in the United States, as well as one of the most R&D intensive industries in the country. According to IFPMA, the share of the US pharmaceutical industry is expected to increase.
- The US cosmetic industry is also expanding. Polymer microspheres are extensively used in anti-aging products, as well as in the manufacturing of shampoo, hair gels, hair creams, etc. The increasing elderly population in the country is further estimated to boost the demand for anti-wrinkle and other hair-related products.
- The US electronics market is the largest market in the world, in terms of size. Furthermore, it is expected to remain the leading market over the forecast period, due to the usage of advanced technology, an increase in the number of R&D centers, and rising demand from the consumers.
- There is a significant demand for newer and faster electronic products, due to the rapid pace of innovation, the advancement of technology, and R&D activities in the electronics industry. There is a significant increase in the number of manufacturing plants and development centers in the United States, primarily due to the focus on developing high-end products. This is expected to boost the demand for polymer microspheres over the forecast period.
- With the growing demand from various end-user industries, the market for polymer microspheres is expected to grow during the forecast period.
The polymer microspheres market is fragmented. Some of the major players include Momentive Performance Materials Inc., Luminex Corporation, Polysciences, Nouryon, and Merck KGaA, amongst others.
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