Magnetic Beads Market
Number of pages: 100 | Report Format: PDF | Published date: May 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 2.9 billion |
|
Revenue Forecast in 2031 |
US$ 7.66 billion |
|
CAGR |
11% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global magnetic beads market was valued at US$ 2.9 billion in 2022 and is expected to register a revenue CAGR of 11% to reach US$ 7.66 billion by 2031.
Magnetic Beads Market Fundamentals
Magnetic beads are a type of device made up of superparamagnetic iron oxide particles as small as 20 to 30 manometers in size, with a functional carboxylic group covering an iron-oxide core, which then binds to nucleic acid and is used for quickly and effectively separating biomolecules such as DNA and RNA.
Cells, pathogenic microbes, nucleic acids, peptides, and proteins are the most common forms of magnetic beads. In the purification of epitope-tagged proteins, protein magnetic beads are utilized. The magnetic protein purification approach, which removes the requirement for centrifugation and streamlines protein purification, allows for direct protein purification from cell lysates. Superparamagnetic and ferrimagnetic cores are most commonly used. Magnetic beads are used in cell separation and growth, the creation of in-vitro diagnostic assays, nucleic acid isolation, immunoprecipitation, and antibody purification. Magnetic beads are commonly used in healthcare institutions, individual pathology labs, and research labs.
The global magnetic beads industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the magnetic beads market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the magnetic beads market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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Magnetic Beads Market Dynamics
Rising investment in genetic and microbiology research activities is propelling the magnetic beads market forward. Magnetic beads' superparamagnetic properties make them suitable for a wide range of analytical applications. Magnetic beads are used in molecular biology to purify many types of biomolecules, such as genomic DNA, plasmids, mitochondrial DNA, RNA, proteins, and other biomolecules. According to the World Health Organization, worldwide health spending climbed significantly between 2000 and 2018, reaching $8.3 trillion, or 10% of global GDP, in December 2020. Furthermore, as medical technology progresses, medical equipment prices grow in the health sector, and the aging population increases demand for medical services, expenditure in many nations is expected to climb. As a result, rising expenditure in genetic and microbiology research is likely to propel the magnetic beads market ahead.
Technological progress is a significant trend that is gaining traction in the magnetic beads market. To acquire market share, the leading players in the magnetic beads market are focused on innovation and extending their spectrum of applications. For example, Thermo Fisher Scientific Inc., a US-based healthcare firm focusing on the research and production of reagents, kits, consumables, and testing kits, will launch Dynabeads Technology in October 2022. Dynabeads technology, which consists of paramagnetic spherical polymer particles, is largely utilized in messenger RNA (mRNA) production and purification for manufacturing and vaccine development, as well as carboxylic acid for RNA purification solutions.
Magnetic Beads Market Ecosystem
Magnetic Beads Market, by Type
Magnetic Beads Market, by Application
Magnetic Beads Market by Application
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The in-vitro diagnostic application category led the market, accounting for more than 50% of the global revenue in 2022. This is because magnetic beads are increasingly being used in bio-separation processes for specific cell or molecule type. Furthermore, the increased need for cellular research by various scientists and pharmaceutical businesses to understand physiological and chemical pathways inside a molecule is likely to drive market expansion.
Magnetic beads provide an appropriate solution that has the potential to transform a wide variety of biological research by improving the performance of cell separation and isolation techniques. Furthermore, the product optimizes important laboratory procedures such as bio-molecule separation, enzyme-linked immunosorbent assay (ELISA), and polymerase chain reaction (PCR) for producing copies of DNA samples and is projected to evolve fast in the field of biological research. As a result, such technologies are expected to have promising growth in the magnetic beads market throughout the forecast period.
Investments and spending in the life sciences and pharmaceutical industries have increased, which is tied to market development. The rising prevalence of infectious illnesses such as HIV and Zika virus has increased the demand for blood sample tests, which is fueling the expansion of magnetic beads. The leading companies are continually upgrading their product lines via introducing new products, joint ventures with third parties, mergers, and acquisitions, all of which will help advance the global market. In December 2021, for instance, Roche will offer the first infectious disease tests using the Cobas 5800 System, a new molecular laboratory equipment, in countries that accept the CE label. Similarly, Torus Biosystems announced a US$ 25 million series financing to enhance infectious disease diagnostics in May 2021, which is fueling the growth of the magnetic beads market.
The market segmentation sections provide the magnetic beads market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of an industry into subgroups depending on characteristics such as type, application, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential magnetic beads market demand opportunities.
Magnetic Beads Market by Region
North America emerged as the most numerous geographical markets. Because North America is home to some of the world's greatest genetic research centers, magnetic beads are in high demand. Furthermore, significant demand for in-vitro testing from the United States and Canada healthcare industries has fueled market growth.
Increased demand for in-vitro testing in the United States and Canada and technological advancements will increase Noroth America’s market share. Magnetic beads are well-known and widely used in regional hospitals and research facilities, which would raise market income. Additionally expanding investments in disease model analysis are also driving the industry. For example, in April 2021, the Canadian government established five interdisciplinary infectious disease modeling networks with a total investment of US$ 10 million. The findings will allow Canada to better respond to future public health issues, which will encourage the business to grow.
Due to the growing need for therapeutic and diagnostic solutions for rising health problems, Europe has the second-largest revenue share in the magnetic beads market. Furthermore, the growing occurrence of infectious illnesses, mental health difficulties, and COVID-19 has boosted the demand for healthcare institutions and allied diagnostics labs to address and mitigate the crisis throughout the region. Expedeon was bought by Abcam plc, a UK-based healthcare firm focusing on designing, developing, manufacturing, and marketing life science protein research instruments for € 120 million (US$ 124.65 million) in January 2020. Abcam's conjugation and testing capabilities are being expanded as part of its growth strategy to better meet the growing demand for antibody conjugation and multiplexing solutions, thanks to Expedeon's product and technology portfolio and Abcam's expertise in antibodies and proteins.
Based on the regions, the global magnetic beads market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of magnetic beads industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level magnetic beads market overview.
Key Components of the Report
Magnetic Beads Market Competitive Landscape
Some of the prominent market players in the global magnetic beats include,
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Magnetic Beads Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Magnetic beads are a type of device made up of superparamagnetic iron oxide particles as small as 20 to 30 manometers in size, with a functional carboxylic group covering an iron-oxide core, which then binds to nucleic acid and is used for quickly and effectively separating biomolecules such as DNA and RNA.
The total magnetic beads market size worldwide in 2022 was US$ 2.9 billion in 2022.
North America region will have the largest magnetic beads market size during the forecast period from 2023 to 2031.
The revenue CAGR of the global magnetic beads is expected to be 11% during the forecast period.
The resultant market size of the magnetic beads market in 2031 will be US$ 7.66 billion.
Magnetic beads are not adaptable to high-throughput processing and are challenging to automate, which may hinder the market growth.
The prime driving factors are the rising investment in genetic and microbiology research and technological advancement.
Some of the prominent market players in the global magnetic beats include Thermo Fisher Scientific Inc., Merck KGaA, and Bio-Rad Laboratories, Inc., among others.
The in-vitro diagnostics segment has the highest share in the global magnetic beads market in 2022 at approximately 52%.
*Insights on financial performance are subject to the availability of information in the public domain