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“The market for patient-derived xenograft/ PDX models is highly fragmented, with key players strategizing to capture a majority of the market. Prominent players in the market are JSR Corporation (Japan), Wuxi Apptec (China)”

Patient-Derived Xenograft / PDX Model Market in terms of revenue was estimated to be worth $426 million in 2023 and is poised to reach $839 million by 2028, growing at a CAGR of 14.5% from 2023 to 2028 according to a new report by MarketsandMarkets. Some of the prominent factors driving the growth of this market are the accuracy of drug testing, rising demand for personalized medicine, and the usefulness of PDX models to identify relevant biomarkers for disease diagnosis. However, significant operational costs associated with patient derived xenograft/ PDX model are expected to restrain market growth to a certain extent.

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Mouse model type accounted for the largest share of the patient-derived xenograft/ PDX model market.

Among the types, the patient-derived xenograft/ PDX model market is segmented into mouse model, and rat model. In 2023, the mouse model segment accounted for the largest share of the patient-derived xenograft/ PDX model market. Growth in this market segment can be attributed to biological similarities of the mice model with human tumors, and the availability of immunodeficient strains is expected to form the largest share segment in the patient derived xenograft/ PDX model market.

The respiratory tumor type segment is the fastest-growing segment of the patient derived xenograft/ PDX model market.

In 2023, the respiratory tumor type segment accounted for the fastest-growing share of the tumor type segment of the patient derived xenograft/ PDX model market. Market growth can largely be attributed to the rising prevalence of lung cancer. The market is also driven by increasing focus on the drug development of respiratory tumor models after the COVID-19 pandemic.

Asia Pacific: The fastest-growing region in the patient derived xenograft/ PDX model market.

The Asia Pacific patient derived xenograft/ PDX model market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of precision medicine and a rise in the number of drug development processes. The Asian market has also garnered significant attention from global players due to the increasing pharmaceutical R&D spending, and the growing trend of outsourcing drug discovery services.

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Patient-Derived Xenograft / PDX Model Market Dynamics:

Drivers:

1. Growing demand for personalized medicine

Restraints:

1. FDA’s announcement to discontinue animal models for clinical trials

Opportunities:

1. Emergence of CRISPR in biomedical research

Challenge:

1. Development of alternative animal testing methods

Key Market Players of Patient-Derived Xenograft / PDX Model Industry:

The market for patient-derived xenograft/ PDX models is highly fragmented, with key players strategizing to capture a majority of the market. Prominent players in the market are JSR Corporation (Japan), Wuxi Apptec (China), The Jackson Laboratory (US), Charles River Laboratories International, Inc. (US), Taconic Biosciences, Inc. (US), Oncodesign Precision Medicine (France), Inotiv, Inc. (US), Pharmatest Services (Finland), Hera BioLabs (US),  EPO Berlin-Buch GmbH (Germany), Xentech (France), Urosphere (France), Altogen Labs (US), Abnova Corporation (US), Genesis Biotechnology Group (US), Biocytogen Pharmaceuticals Co., Ltd. (China), Creative Animodel (US), BioDuro-Sundia (US), Aragen Life Sciences (India), Shanghai LIDE Biotech Co., Ltd. (China), Certis Oncology Solutions (US), InnoSer (Netherlands), IVRS AB (Sweden), Beijing IDMO Co. Ltd. (China), and Shanghai Chempartner Co. Ltd. (China).

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“Medical Advancements: Clinical trials are at the forefront of medical research, driving innovation and the development of new treatments, therapies, and interventions that can improve patient outcomes and quality of life.”

The global clinical trials market is projected to reach USD 73.2 billion by 2028 from USD 48.2 billion in 2023, at a CAGR of 8.7% during the forecast period of 2023 to 2028. The global clinical trials market is growing owing to factors such as increased R&D spending, increasing outsourcing of R&D operations, and an increase in clinical trials conducted globally. In addition to this, the growing biosimilars and biologics development and launches, increasing demand for specialized testing services, and emerging Asian markets also offer lucrative growth opportunities for players operating in the market. The market growth could be hampered by a lack of qualified professionals to conduct clinical trials in line with the regulatory guidelines.

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The laboratory services segment accounted for the largest share by service type in the clinical trials market in 2022.

By service type, the clinical trials market has been further categorized as patient recruitment, protocol designing, site identification, analytical testing, laboratory services, bioanalytical testing, decentralized clinical services, clinical trial supply & logistic services, medical device testing services, clinical trial data management services, and other clinical trial services. The laboratory services segment held the largest share of the global clinical trials market in 2022, owing to the increasing preference of clinical research experts to outsource laboratory testing services. The outsourcing rate for laboratory services has been significantly high in recent years compared to other services.

The oncology segment accounted for the largest share of the therapeutic area segment in the clinical trials market in 2022. 

Based on therapeutic areas, the global clinical trials market has been segmented into infectious diseases,  oncology, neurology, metabolic disorders, immunology, cardiology, genetic diseases, women’s health, and other therapeutic areas. The oncology segment held the largest market share in 2022. The large share of this segment can be attributed to the rising prevalence of cancer worldwide and the high number of oncology clinical trials conducted globally.

The Small molecules segment accounted for the largest share of the application segment in the clinical trials market in 2022.

The clinical trials market is segmented into small molecules, monoclonal antibodies, vaccines, cell & gene therapy, and other applications based on application. Small molecules are the largest application segment of the clinical trials market due to increasing demand for early-phase development outsourcing services as well as clinical & laboratory testing services for small molecules, the presence of a large number of service providers operating in this segment, and the robust demand for small molecule drug candidates. The majority of the patented drugs marketed in the past five years have been small molecules and generics.

The North American region catered for the largest share of the clinical trials market in 2022.

The clinical trials market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). North American region held a substantial share of the clinical trials market owing to the strong presence of the pharmaceutical industry, the ongoing development of clinical trial investigations, increased research and development (R&D) spending, the expansion of biosimilars and generics markets, and the increasing trend of outsourcing preclinical, clinical, and laboratory testing services by pharmaceutical and biopharmaceutical companies within the region.

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Clinical Trials Market Dynamics:

Drivers:

1. Increasing drugs in pipeline and rising investments in pharmaceutical R&D
2. Increasing number of clinical trials
3. High cost of in-house drug development
4. Rising prevalence of orphan and rare diseases

Restraints:

1. Need for unique testing approaches for innovative molecules

Opportunities:

1. Favorable outlook for biologics and biosimilars
2. Rising demand for specialized testing services
3. Need for novel clinical trial designs for complex cell and gene therapies

Key Market Players:

Key players in the clinical trials market include IQVIA Inc. (US), Laboratory Corporation of America Holdings (US), Syneos Health (US), WuXi AppTec (China), Charles River Laboratories (US), Parexel International  Corporation (US), Thermo Fisher Scientific Inc. (US), ICON plc (Ireland), Medpace (US), ACM Global Laboratories (US), Advanced Clinical (US), SGS (Switzerland), Frontage Labs (US), PSI (Switzerland), Bioagile (India), Fortrea Inc. (US), Clinical Trial Service (Netherlands), Worldwide Clinical Trials (US), Pepgra (UK), CTI Clinical Trial & Consulting (US), Dove Quality Solutions (UK), Firma Clinical Research (US), Celerion (US), Novotech (Australia), and Linical Americas (Japan).

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“prominent players in the multimodal market are GE healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft Corporation (China), and Topcon Corporation (Japan).”

Multimodal Imaging Market in terms of revenue was estimated to be worth $4.2 billion in 2023 and is poised to reach $5.5 billion by 2028, growing at a CAGR of 5.7 % from 2023 to 2028 according to a new report by MarketsandMarkets™.  The major factors driving the growth of this market include rising patient population, various chronic diseases, and technological advancements along with the increasing adoption of multimodal for diagnostic imaging.

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Technology segment to register significant growth rate over the forecast period of 2023-2028

Based on technology, the global multimodal imaging market is segmented into PET-CT, PET-MR, SPECT-CT, OCT/FMT, and other multimodal imaging market. The SPECT/CT segment is anticipated to register the second highest growth rate over the forecast period. The PET/CT multimodal segment accounted for the highest share of the multimodal market in 2022.

Brain & Neurology segment in end user to register significant growth rate over the forecast period of 2023-2028

Based on end use, the global multimodal imaging market is segmented into brain & neurology, cardiology, ophthalmology, oncology, and research application. The brain and neurology segment is anticipated to register the second highest growth rate over the forecast period. The oncology application segment accounted for the highest share of the multimodal market in 2022.

The hospitals segment accounted for the largest share of the multimodal market, by end user, in 2022

Based on end user, the multimodal market is segmented into hospitals, diagnostic imaging centres, research and academia and other end users. The hospitals segment accounts for the largest share of the market in 2022. Factors attributing to the efficiency of conducting multiple scans during a single session reduces patient exposure to radiation and minimizes the need for additional tests, resulting in optimized healthcare delivery and cost-effectiveness, share of this particular are increasing cancer incidences and increasing number of surgeries performed in hospitals are driving the growth of this segment.

The Asia Pacific market to register a significant growth in the market during the forecast period

The Asia Pacific multimodal market is estimated to register a significant growth from 2023 to 2028. The increasing patient population, rising geriatric population, rapid economic growth and increasing disposable income are driving the market growth in APAC countries. This region is having a rise in healthcare investment and expenditure, offering significant growth opportunities for the key players.

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Multimodal Imaging Market Dynamics:

Drivers:

1. Growing application of multimodal imaging systems

Restraints:

1. High cost of multimodal imaging systems

Opportunities:

1. Availability of reimbursement and insurance coverage for multimodal imaging scans

Challenges:

1. Growing end-user preference for refurbished equipment

Key Market Players:

As of 2022, prominent players in the multimodal market are GE healthcare (US), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), Siemens AG (Germany), Neusoft Corporation (China), and Topcon Corporation (Japan).

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“Pharmacy automation systems minimize the risk of medication errors through precise dispensing, accurate labeling, and stringent quality checks, ensuring patients receive the correct medications in the right doses.”

Asia Pacific Pharmacy Automation Market in terms of revenue was estimated to be worth $496 million in 2023 and is poised to reach $763 million by 2028, growing at a CAGR of 9.0% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The increasing awareness among pharmacists, healthcare cost-reduction measures, and significant growth potential in emerging markets are some of the key factors that offer opportunities to the market during the forecast period. However, the stringent regulatory procedures, and the risk of cross-contamination are some of the factors challenging the market growth to some extent.

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The automated packaging and labeling systems segment is expected to register a substantial growth in the Asia Pacific pharmacy automation market, by product 

The automated packaging and labeling systems segment is expected to register a substantial growth in the Asia Pacific pharmacy automation market, by component. This growth can be attributed to increasing need to minimize medication errors, reduce labor costs, and increase productivity. The need to improve dispensing accuracy & productivity and lower the overall cost of the process is also a major driver for the automated packaging and labeling systems market.

China is to witness a considerable growth rate during the forecast period.

The market in China is projected to grow at a considerable CAGR during the forecast period. Factors such as rising government initiatives, increasing medical tourism, growing government & private investments expected to bring about the creation of new market participants, growing emergence of various technologically advanced products are anticipated to drive the development of pharmacy automation applications in the China. Along with the abovementioned, the surging aging population, growing healthcare expenditure, urbanization & changing lifestyle, and the growth of e-commerce & online pharmacies will also help to bolster the growth of pharmacy automation market in China.

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Asia Pacific Pharmacy Automation Market Dynamics:

Drivers:

1.  Technological advancements and integration with healthcare systems

Restraints:

1.  Lack of skilled personnel

Opportunities:

1.  Increasing awareness among pharmacists

Challenges:

1.  Risk of cross-contamination

Key Market Players:

Becton, Dickinson and Company (BD) (US), Yuyama Co., Ltd/Yuyama Mfg Co., Ltd (Japan), Omnicell, Inc. (US), KUKA AG (Swisslog Healthcare) (Germany), TOSHO Co, Inc. (Japan), Oracle Corporation (US), TouchPoint Medical Solutions (US), Takazono Corporation (Japan), Capsa Healthcare (US), ARxIUM, Inc. (US), Mckesson Corporation (US), ATS Corporation (Canada), ScriptPro LLC (US), Hanmi Pharma Co., Ltd. (South Korea), NIHON CHOUZAI Co., Ltd. (Japan), and GETECH (Singapore) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.

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“The prominent players in this market are Thermo Fisher Scientific, Inc. (US), Promega Corporation (US), Merck KGaA (Germany), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Abcam plc (UK)”

ATP Assays Market in terms of revenue was estimated to be worth $0.3 billion in 2023 and is poised to reach $0.5 billion by 2028, growing at a CAGR of 7.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. The ATP Assays market is mainly driven by factors such as growing drug discovery & development studies, growing penetration of CROs, increasing demand for cell-based assays in research, growing investments by pharmaceutical and biotechnology companies are some of the key factors driving the market for ATP assays.

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The consumables & accessories segment is accounted for largest share of the market during the forecast period

On the basis of product, The ATP assays market comprises consumables & accessories as well as instruments, with the consumables & accessories segment holding a significant portion. This dominance can be attributed to the the growing demand for tumor testing and cell proliferation (specifically in cancer) driven by an upsurge in chronic diseases, and the frequent procurement of consumables by pharmaceutical and biotechnology firms.

The contamination testing segment accounted for the largest share of the market during the forecast period.

On the basis of application, The ATP assays market is bifurcated into contamination testing, disease testing, and drug delivery & development segments. The significant portion of the contamination testing segment is due to various factors such as  the surge in drug discovery activities following the COVID-19 pandemic, and the necessity for cleaning and disinfecting environmental surfaces in hospitals.

The pharmaceutical & biotechnology segment accounted for the largest share of the market in 2022

On the basis of end users, The ATP assays market is categorized into pharmaceutical & biotechnology companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutes. The dominance of this segment can be attributed to several key factors. These include the presence of a large number of pharmaceutical players who are making substantial investments in this market, the growing regulatory approvals for cell culture-based vaccines that necessitate the use of ATP assays in contamination testing, the expansion of commercial activities by various pharmaceutical companies, the rising demand for cell and gene therapies to address chronic diseases, and significant research and development efforts in the pharmaceutical & biopharmaceutical sector.

APAC to witness the highest growth during the forecast period.

In 2022, North America accounted for the largest share the ATP assays market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the availability of government and private funding for life science research, growing penetration of CROs, comprehensive drug development regulations, and the presence of major players in the ATP assays market in this region.

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ATP Assays Market Dynamics:

Drivers:

1. Increasing food safety concerns

Restraints:

1. High cost of instruments

Opportunities:

1. Technological enhancements in ATP assay probes

Challenges:

1. Survival of small players and new entrants

Key Market Players:

The prominent players in this market are Thermo Fisher Scientific, Inc. (US), Promega Corporation (US), Merck KGaA (Germany), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Abcam plc (UK), Lonza Group (Switzerland), Neogen Corporation (US), 3M (US), Danaher Corporation (US), PromoCell GmbH (Germany), Geno Technology, Inc. (US), Abnova Corporation (Taiwan), AAT Bioquest Inc. (US), BioThema AB (Sweden), Elabscience Biotechnology Inc. (US), MBL International Corporation (US), Biotium (US), Creative Bioarray (US), Canvax Biotech S.L. (Spain), Ruhof Corporation (US), Charm Sciences, Inc. (US), Bio Shield Tech, LLC (US), Cayman Chemical (US), and Cell Signaling Technology,Inc. (US).

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“RNA analysis allows researchers to study the dynamic gene expression patterns in cells and tissues, providing valuable insights into how genes are regulated and how they respond to different stimuli, disease conditions, or treatments.”

RNA Analysis Market in terms of revenue was estimated to be worth $5.3 Billion in 2023 and is poised to reach $9.9 Billion by 2028, growing at a CAGR of 13.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. The global RNA analysis market is expected to grow at a CAGR of 13.4% during the forecast period. Growth in this market is driven by the growing R&D activities in the pharmaceutical industry, and growing government investments in the field of life science research. Moreover, the increasing research being undertaken with integrated omics studies contributes to the market.

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The reagents/consumables segment accounted for the largest share of the product & service segment in the RNA analysis market in 2022.

Based on product & service, the RNA analysis market is segmented into reagents/consumables, instruments, software, and services. In 2022, the reagents/consumables segment accounted for the largest share of the RNA analysis market. The large share of this segment is fueled by the increasing demand for omics-based therapeutics, expanding research and development activities, and the availability of various RNA analysis reagents in the market.

The PCR segment accounted for the largest share of the technology segment in the RNA analysis market in 2022.

Based on technology, the RNA analysis market is segmented into PCR, sequencing, microarrays, and RNA interference. The PCR segment accounted for the largest share in the RNA analysis market in 2022. PCR is associated with several advantages, such as ease of operation, and short production cycles. These advantages support the growth of the PCR in the RNA analysis segment.

Asia Pacific is likely to grow at the highest growth rate during the forecast period.

Based on the region The global RNA analysis market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the largest regional segment. The Asia Pacific region is estimated to grow at the highest CAGR in the RNA analysis market during the forecast period. The growth of the pharmaceuticals market in the region is primarily driven by the increasing prevalence of chronic diseases, the rising disposable incomes, the growing focus on personalized medicine, and the increasing government support for genomics and proteomics.

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RNA Analysis Market Dynamics:

Drivers:

1. Growing demand for personalized medicine

Restraints:

1. High capital investments

Opportunities:

1. Opportunities in Emerging Countries

Challenges:

1. Data management in transcriptomics research

Key Market Players:

The prominent players operating in the RNA analysis market are Thermo Fisher Scientific, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), and Eurofins Scientific (Luxembourg).

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“North America and Europe have traditionally been at the forefront of vaccine development and adoption, driving significant growth in the Vaccine Adjuvants Market.”

The vaccine adjuvants market is projected to reach USD 1.6 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 1.7% during the forecast period. Growth in the vaccine adjuvants market can be attributed to factors such as the collaborations and partnerships among market players for the development of vaccine adjuvants and an increasing number of COVID-19 vaccines in the development pipeline

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Vaccine adjuvants play a pivotal role in enhancing the efficacy of vaccines, promoting stronger immune responses, and extending the longevity of immune protection. The increasing prevalence of infectious diseases and the growing demand for improved vaccine formulations have fueled the growth of the vaccine adjuvants market worldwide.

Key Highlights of the Report:

Market Overview: The report provides a thorough analysis of the vaccine adjuvants market’s current status, examining its historical performance and projecting future trends. It covers the key drivers, challenges, and opportunities shaping the market landscape.

Segmentation Analysis: The study offers a comprehensive segmentation analysis based on type, route of administration, application, and region. This allows stakeholders to identify high-growth segments and tailor their strategies accordingly.

Competitive Landscape: The report profiles prominent companies operating in the vaccine adjuvants industry. It highlights their product portfolios, recent developments, strategic initiatives, and key financials, offering insights into the competitive dynamics of the market.

Regional Analysis: Geographically, the market has been analyzed across key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report evaluates the regional market attractiveness and growth potential.

The Asia Pacific region is the fastest-growing region of the vaccine adjuvants market

The Asia Pacific is estimated to be the fastest-growing segment of the market. The growth of the vaccine adjuvants markets of the region is drive by increasing investments in the life sciences sector and rising awareness through conferences & symposiums, and growing emphasis on strategic initiatives such as partnerships, and collaborations by biopharma and biotech companies.

Emerging Trends and Future Outlook: The report identifies the emerging trends that are likely to shape the vaccine adjuvants market in the coming years. It also provides an outlook on the market’s growth trajectory during the forecast period.

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Key Market Players

GSK plc (UK), Dynavax Technologies (US), Novavax (US), Agenus Inc. (US), Croda International plc (UK), Seppic (France), OZ Biosciences (US), Phibro Animal Health Corporation (US), Associated British Foods plc (UK), InvivoGen (US), Merck KGaA (Germany), CSL Limited (Australia), Vertellus (US), Allergy Therapeutics (UK), Riboxx GmbH (Germany), CaPtivatϵ Pharmaceuticals LLC (US), EuBiologics Co., Ltd. (South Korea), Pacific GeneTech Limited (US), Hawaii Biotech Inc. (US), and Vaxine Pty Ltd. (Australia)

GlaxoSmithKline (UK) held the leading position in the market. The company has entered into collaborations and partnerships with a number of vaccine developers and is recognized for its contrition in the COVID-19 space.

Recent Developments

• Dynavax Technologies (US) entered into a fully funded collaboration with the US Department of Defense to conduct a Phase 2 clinical trial for a plague vaccine adjuvanted with CpG 1018.
• SK Bioscience (South Korea)and GSK plc (UK)entered into a collaboration for COVID-19 vaccine development.

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