The global magnetic beads market size is expected to reach USD 9.39 billion by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors driving the market growth are an increase in the prevalence of different chronic and lifestyle-associated diseases, preference for in-vitro diagnostic testing, growth in biotechnology, molecular biology, microbiology, and medical technology sector. Owing to these, the adoption of magnetic beads is expected to increase in healthcare applications, bioassays, and others. Also, there has been an increase in research and development across the globe with an increase in the focus of industry players for the development of novel products catering to the requirements of their customers, which are also expected to promote industry growth during the forecast period.
The Bioresearch application segment is expected to emerge as the fastest-growing segment in the industry during the forecast period. The fastest growth 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, technological developments and advancements, and others. Also, the emergence of COVID–19 pandemic across the globe increased the focus of researchers and medical practitioners to use advanced methods such as magnetic beads in their research activities and studies to better understand the virus and its effects and thereby enhance the process of therapeutics development.
North America accounted to have the largest share of revenue in the global industry in 2021 and is expected to maintain its dominance during the forecast period. Increase in the prevalence of a range of chronic as well as infectious diseases, growth in health care spending, well-established healthcare infrastructure across countries such as the United States and Canada, demand for in-vitro tests from the healthcare sector, presence of best genetic research facilities, etc. are some of the major factors which are expected to contribute towards the largest industry revenue share of the North American region in the global market during the forecast period.
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Also, other factors such as technological developments, growth in the healthcare sector, increase in healthcare spending, research and development activities across the globe, advancement in technology and medical innovation, and others further support the market growth. Recent developments in these beads include alert Magarose. Its magnetic susceptibility is very high, which facilitates the adoption of this separation technology for the rapid batch chromatographic process. Also, the anion exchanger DEAE-Magarose accounts to be effective to bind DNA from crude cell lysate.
Market participants such as 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. are some of the key players operating in the global market. Players in the market are focusing on developing new products in magnetic beads with the intent to strengthen and expand their geographic footprint. In line with this, in 2020, AMSBIO unveiled a range of ready–to–use SARS – CoV-2 Spike protein-coupled with magnetic beads. The product combines minimum non-specific binding, developed operational protocols, and convenience.
Polaris Market Research has segmented the magnetic beads market report on the basis of application, end-use, and region:
Magnetic Beads, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- In-Vitro Diagnostics
Magnetic Beads, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Healthcare Facilities
- Individual Pathology Labs
- Research Labs
Magnetic Beads, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa