Magnetic Beads Market Size to Reach USD 6.7 Bn by 2032 with CAGR of 15.5% | TMR Study

Wilmington, Delaware, United States, April 04, 2023 (GLOBE NEWSWIRE) — According to Transparency Market Research, the global magnetic beads market stood at USD 1.8 Bn in 2021 and the global market is projected to reach USD 6.7 Bn by 2032. The global industry is anticipated to expand at a CAGR of 15.5% between 2022 and 2032.

The market value of Magnetic Beads is also increasing due to increasing use of magnetic beads in diagnostics. Magnetic beads have become an integral part of diagnostic assays, especially in the field of molecular diagnostics. With the increasing prevalence of diseases such as cancer and infectious diseases, the demand for magnetic beads in diagnostics is expected to increase in future.

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Market Snapshot:

Additionally, magnetic beads are used for cell isolation, protein purification, and chromatography, among other applications, in the biopharmaceutical industry. Thus, the growth of the biopharmaceutical industry is anticipated to augment the demand for magnetic beads in the forthcoming years.

Furthermore, the increasing demand for personalized medicine is another factor fueling the market growth. Magnetic beads play a crucial role in personalized medicine, especially in the isolation of specific cells or molecules from patient samples. The growing demand for personalized medicine is expected to fuel the growth of the magnetic beads market in the coming years.

In addition, the technological advancements in the field of magnetic beads, such as the development of new materials and coatings, have expanded their applications in various fields, which in turn are projected to escalate the market growth during the forecast period.

Besides, increasing research and development activities in the field of magnetic beads have led to the development of new products and applications. For instance, researchers are exploring the use of magnetic beads in targeted drug delivery and regenerative medicine.

Key Findings of the Market Report

• By type, immunoprecipitation magnetic beads are likely to be most preferred, expected to expand at a CAGR of 14%.
• Ferrimagnetic component-based magnetic beads to account for a market share of approximately 65%, with a predicted CAGR of 10.5%
• By application, the in-vitro diagnostics holds the largest revenue share of approximately 50%, attributed to the growing demand for cellular research by scientists and pharmaceutical companies
• Global magnetic beads market revenue is expected to grow 3.2x between 2022 and 2032
• From 2017-2021, the magnetic beads market surged at a CAGR of around 12%

Global Magnetic Beads Market: Growth Drivers

• The global Magnetic Beads market is projected to expand at a steady pace from 2022 to 2032 due to the growing demand for magnetic beads in molecular as well as cell biology.
• Another factor that is projected to augment the market growth includes the increasing demand for point-of-care testing.
• Additionally, the increasing adoption of automation in laboratories, is a major factor that is anticipated to fuel the market prospects in the near future.

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Global Magnetic Beads Market: Regional Landscape

• North America is expected to dominate the magnetic beads market with a CAGR of 13.3%.
• The regional market is witnessing a rise, the presence of some of the world’s most prestigious genetic research institutes
• Additionally, strong demand for in vitro testing from the healthcare industries has further aided the market’s growth.
• In the United States, magnetic beads market revenue is likely to total US$ 2.4 billion by 2032. The country accounts for 85% of North America’s revenue

Global Magnetic Beads Market: Key Players

• Thermo Fisher Scientific Inc.
• Merck KGaA
• Bangs Laboratories, Inc.
• Spherotech, Inc.
• GenScript
• CardioGenics, Inc.
• Bio-Rad Laboratories, Inc.
• Miltenyi Biotec
• Ferrotec (USA) Corporation
• Eurofins Technologies
• Micromod Partikeltechnologie GmbH
• New England Biolabs
• Rockland Immunochemicals, Inc.

Competitive Landscape

Prominent players in the Magnetic Beads industry are taking advantage of the rapidly increasing demand for Magnetic Beads. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:

• In May 2021, Thermo Fisher Scientific launched the Dynabeads™ Resin Selector tool, which simplifies the selection of the best resin for protein purification experiments using its Dynabeads™ range of magnetic beads.
• In April 2021, Merck KGaA launched its Kodo™ platform, which offers researchers a range of ready-to-use, high-performance magnetic beads for protein isolation and purification.
• In November 2020, Spherotech introduced its magnetic beads for flow cytometry applications, which enable accurate and reliable detection of rare cell populations.

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Global Magnetic Beads Market: Segmentation

Type

• Immunoprecipitation
• Cells
• Pathogenic Microorganisms
• Nucleic Acids
• Peptide
• Protein
• Others

Magnetic Core

• Superparamagnetic
• Ferrimagnetic

Size

• Less than 5 μm
• 5-20 μm
• 20-40 μm
• 40 μm and Above

Application

• Bioresearch
• In-vitro Diagnostics
• Others

Region

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

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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