Magnetic Beads Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
Magnetic Beads Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030

Magnetic Beads Market Share, Size, Trends, Industry Analysis Report, By Application (Bioresearch, In-Vitro Diagnostics and Others), By End-use (Healthcare Facilities, Individual Pathology Labs, Research Labs), By Region; Segment Forecast, 2022 - 2030

  • Published Date:Jan-2022
  • Pages: 110
  • Format: PDF
  • Report ID: PM2223
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Outlook

The global magnetic beads market was valued at USD 2.78 billion in 2021 and is expected to grow at a CAGR of 14.8% during the forecast period. The growth of this market is attributed to the increase in the preference for in-vitro diagnostic testing due to its ability to offer quick results and versatility. Also, increase in the adoption of these beads for medical applications, use of magnetic beads in magnetic separation techniques and bioassays, and increase in the use of magnetic beads in applications pertaining to life science (such as biotechnology, pharmaceutical, and medical technology industry) supplements the magnetic beads market growth.

Magnetic Beads Market SizeKnow more about this reportrequest for sample pages

Therefore, growth in these industries also fuels industry growth. For instance, as per Statista, the total sales of biotechnology drugs across the globe are expected to increase from USD 149 billion in 2012 to approximately USD 351 billion by the end of 2021. This is further expected to increase the demand and adoption of the product in the life sciences domain, thus impacting the industry in a positive way.

Moreover, the rapid emergence of the COVID-19 pandemic across the globe is increasing the demand for the product worldwide magnetic beads support for reliable and rapid SARS-CoV-2 virus detection in untreated saliva. Hence, this is expected to have a positive impact on the magnetic beads market growth during the forecast years.

Magnetic Beads Market

Know more about this reportrequest for sample pages

Industry Dynamics

Growth Drivers
The sudden outbreak of the coronavirus pandemic is one of the key factors driving the growth of the global industry during the forecast period. The drastic changes happening due to the COVID-19 pandemic are impacting each and every individual across the globe. As a result, the demand for the product is rising rapidly as magnetic beads support reliable and rapid detection of the SARS-CoV-2 virus.

Furthermore, growth in the medical technology sector fuels the magnetic beads market growth. As per Statista, the total medical technology revenue across the globe is expected be reach approximately USD 600 billion by 2024. This is expected to increase the demand and adoption of the product for monitoring, diagnosis, as well as treatment of medical conditions or diseases.

Also, the biomedical industry adopts these beads for a range of purposes which includes drug targeting, clinical diagnosis, nucleic acid purification, cell isolation, and detection. In addition, the use and adoption of these beads (solid phase) to isolate and detect bio-molecules also accounts for being one of the prime growth factors of the global industry. Usage and adoption of the product in immune assays enhance the detection sensitivity while improving the flow of enzyme substrates.

Hence, the global market is expected to experience significant growth in the forecast years. While, the process of protein and cellular purification is time-consuming and needs additional accelerators such as fine particles addition, which is responsible for the extra cost and hence hampers the growth of the global market during the forecast period.

Report Segmentation

The market is primarily segmented on the basis of application, and region.

By Application

By End-Use

By Region

  • Bioresearch
  • In-Vitro Diagnostics
  • Others
  • Healthcare Facilities
  • Individual Pathology Labs
  • Research Labs
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Know more about this reportrequest for sample pages

Insight by Application

Among the application segment, the in-vitro diagnostics application segment held the largest share in the global market in 2021, owing to the growing adoption of in-vitro diagnostics in the healthcare industry due to greater levels of accuracy. The product accounts to be an effective substitute to colloidal gold particles in in-vitro diagnostic due to its capability to generate faster results and relatively lower costs.

However, the bioresearch application segment is expected to register the fastest growth rate during the forecast period. The highest CAGR of this segment is majorly attributed to an increase in the investments in activities related to genetic research across the globe, an increase in the finding offered to bioresearch research institutes, etc. This segment is further significantly contributing to the growth of the global market.

Geographic Overview

Geographically, North America accounts to be the largest contributor in terms of revenue in the global market owing to the massive growth of pandemics in the region. Also, the presence of the best genetic research facilities, demand for in-vitro tests from the healthcare sector of the countries such as the United States and Canada also contributes towards the dominance of North America in the global market during the forecast period. Furthermore, the presence of key players manufacturing these beads in North America, along with the aim of these companies to enhance their solution offers, is the key factor driving the growth of the product in this region.

The demand for these beads is also expected to be witnessed from the European region owing to an increase in the active cases of COVID-19 pandemic. In addition, an increase in health awareness, increase in demand for diagnostics and therapeutic solutions, growing product adoption for treatment and diagnosis of a range of medical conditions such as brain tumor and cancer is expected to increase the product demand in the healthcare sector across the region.

The European Union is offering support for the research and development activities in the field of nanomaterials. A ETIPs (European Technology and Innovation Platform) established multi-sectoral, cross-ETP platform, NANOfutures collaborates actively with major industries to commercialize a range of nanomaterials such as magnetic beads.

Competitive Insight

Some of the major players operating the market include Advanced Magnetics Inc., Bangs Laboratories, Cortex Biochem, Dynal Inc., Eurofins Technologies, Ferrofluidics, Immunicon Corp, Magnetically Delivered Therapeutics Inc., MagQu Co. Ltd., Merck Estabor, Micromod Partikeltechnologie GmbH, New England Biolabs, Promega, PureBiotech, LLC, Rockland Immunochemicals, Inc.

Magnetic Beads Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 2.78 billion

Revenue forecast in 2030

USD 9.39 billion

CAGR

14.8% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Segments covered

By Applications, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

Advanced Magnetics Inc., Bangs Laboratories, Cortex Biochem, Dynal Inc., Eurofins Technologies, Ferrofluidics, Immunicon Corp, Magnetically Delivered Therapeutics Inc., MagQu Co. Ltd., Merck Estabor, Micromod Partikeltechnologie GmbH, New England Biolabs, Promega, PureBiotech, LLC, Rockland Immunochemicals, Inc.