Microspheres are round and spherical, a feature that provides multiple advantages in a variety of applications. A sphere's spherical shape allows it to have a consistent footprint for precision optical instruments. It also allows the sphere to flow freely. In contrast, a microscope's resolution is limited to about 2 microns. This is why microspheres may have a wide range of applications, including diagnostics and therapeutics.
Market Dynamics:
Growing demand from medical industry where it is used in drug encapsulation and production of medical device is predominantly fueling growth of the microspores market. Increasing healthcare spending is also expected to augment market growth. According to the Coherent Market Insights, the growing healthcare industry is thus expected to drive the market for advanced ceramics in the upcoming years. As a result, global healthcare spending is expected to increase at an annual rate of around 5.4% during 2018-2022. The per-person healthcare expenditure is the highest in the United States, currently at around USD 11,674 million.
Moreover, growing demand from cosmetic industry is further anticipated to uplift market growth. Microspheres offer a ball-bearing effect in creams and lotions due to their uniform particle size and sphericity, and they result in delivering luxury finish and texture. Microspheres also have excellent color matching ability to match any skin tone.
On the other hand, high cost involved in production process and increasing price of raw materials are key factors hindering growth of the market.
Key features of the study:
Detailed Segmentation:
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*Browse 24 market data tables and 28 figures on "Global Microspheres Market” - Global forecast to 2030
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