Magnetic Beads Market worth over $4.4bn by 2027
Published Date: February 1, 2021 Authors: Sumant Ugalmugle, Rupali Swain
Magnetic Beads Market size is set to surpass USD 4.4 bn by 2027, according to a new research report by Global Market Insights, Inc.
Advancements in magnetic beads will stimulate the market growth. For instance, in August 2020, Hemotune AG announced the closing of USD 5.3 million series A to enhance the development of Hemosystem. Hemosystem is an innovative blood purification platform that is based on nanoenginered magnetic beads. In addition, several other market players are developing advanced magnetic beads for various biomedical applications, fostering the market demand.
Rising application of magnetic beads in medical sector will accelerate the market expansion
Magnetic beads are considered one of the emerging tools for medical and research applications. Pairing of magnetic properties with particular ligands in magnetic beads permits the purification and separation of nucleic acids, proteins, cells and other molecules in an effective and efficient manner. Bio separation is among the most widespread applications of magnetic beads therefore, surging application of magnetic beads in medical field influences the market progression. Moreover, immunoprecipitation is one of the foremost applications of magnetic beads along with their other applications in medical and industrial processes. Medical application includes magnetic resonance imaging, diagnosis and targeted destruction of tumors by intercellular hyperthermia as well as targeted drug delivery. Similarly, magnetic beads can be extensively used as contrast agents for magnetic resonance imaging as these particles can be engineered to provide tissue-specific signals and is useful method for detecting metastases and solid tumors.
Increasing focus of market leaders on developing protein based magnetic beads will create significant growth opportunities
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The proteins segment in the magnetic beads market is anticipated to witness more than 13.5% growth rate till 2027. Magnetic beads-based protein offers high-throughput and high-specificity in protein isolation and purification protocols, rising its adoption rate. Additionally, usage of magnetic beads for protein purification offers quick and easy magnetic-bead separation creating lucrative growth opportunities over the forecast period. Several industry participants are focusing on developing protein based magnetic beads for strengthening the market position.
Growing advantages of magnetic beads in nucleic acid isolation process will favor the market value
The nucleic acid isolation segment held around 17% of the magnetic beads market share in 2020. Magnetic beads technology is one of the emerging strategies for extracting RNA, plasma, mitochondrial DNA, and genome. In recent years, functionalized magnetic beads have been attached to suitable buffers systems for a rapid and efficient extraction procedure that will spur the market revenue. Similarly, using magnetic beads in nucleic acid isolation process offers several advantages over other existing methods, thereby increasing its preference. As, magnetic beads avoid cross contamination caused by slashing of droplets when pipetting liquid materials that will augment the market progression.
Browse key industry insights spread across 181 pages with 186 market data tables & 26 figures & charts from the report, “Magnetic Beads Market Size By Type (Cells & Microbes, Nucleic Acid, Proteins), By Application (Cell Separation & Expansion, IVD Assay Development, Exosome Analysis, Protein Sample Preparation & Protein Purification, Nucleic Acid Isolation, Immunoprecipitation, Antibody Purification), By End-use (Healthcare Facilities, Individual Pathology Labs, Research Labs), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Healthcare facilities segment is projected to show a vigorous magnetic beads market growth
The healthcare facilities segment accounted more than USD 410 million in 2020, owing to the presence of expert and trained professionals in healthcare facilities. Growing demand for magnetic beads technology in sample preparation for COVID-19 testing in healthcare facilities will fuel the segment growth. Furthermore, rising usage of magnetic beads in healthcare facilities for several biomedical applications such as protein purification, antibody purification and others will further escalate the industry expansion.
Availability of research funding for several biomedical activities will boost the growth for European region
Europe magnetic beads market is estimated to attain a CAGR of over 14% through 2027 led by rising healthcare expenditure, rapidly expanding economy, and increasing government financing in research projects. Continuous research funding for effective COVID-19 testing along with growing awareness regarding severity of several chronic diseases will drive the market demand.
Adoption of several growth strategies enables major industry players to maintain their market share
Some of the leading companies operating in the magnetic beads market include Thermo Fisher Scientific, Qiagen, Bio-Rad Laboratories, Takara Bio, GenScript Corporation, Merck Millipore, Danaher Corporation, Bangs Laboratories, Cardiogenics, Rockland Immunochemicals, Spherotech, Promega Corporation, Miltenyi Biotec, New England Biolabs and others. These industry leaders undergo several organic and inorganic growth initiatives to maintain robust foothold in magnetic beads business.