Magnetic Beads Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

Magnetic Beads Market Forecast 2023-2027

The Global Magnetic Beads Market size is estimated to grow by USD 1.67 billion between 2022 and 2027 accelerating at a Compound annual growth rate (CAGR) of 11.68%. The prominent market driver include the increasing application of magnetic beads in the medical field, the pandemic outbreak, and the high demand for personalized medicine. These factors will help the market grow. However, the market has its own restraints such as contamination issues of samples with residual magnetic beads can hinder the market growth. To overcome, these restraints, market players are focussing on market trends such as the rising use of solid-phase magnetic beads technology, and technological advancements in in-vitro diagnostic which will positively impact the overall market growth.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This market research report extensively covers market segmentation by application (cell separation, IVD assay development, and others), type (ferrimagnetic and superparamagnetic), and geography (North America, Europe, Asia, and Rest Of World (ROW)).

By Application

The market share growth of the cell separation segment will be significant during the forecast period. The rising adoption of cell separation applications in research and clinical applications, the augmenting use of cell separation in cancer research, and the high prevalence of human immunodeficiency virus/ Acquired immunodeficiency syndrome (HIV/AIDS) drive the growth of the cell separation segment.

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The cell separation segment was valued at USD 665.10 million in 2017 and continued to grow until 2021. The growth of the biotechnology and pharmaceutical industries globally is driving the growth of the demand for cell separation applications, as the number of protein and DNA and RNA research activities is increasing owing to a rise in the exploration and development of new biotherapeutics and pharmaceutical drugs. 

Key Regions

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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US leads the market in North America. The demand for applications such as cell separation in the country is growing due to the rising adoption of cell-based assays for drug screening by pharmaceutical and biotechnology companies. Cell-based assays require the optimization of culture conditions for maximum cell growth and proliferation. Cell separation products are used to enhance cell attachment and proliferation to maintain an environment conducive to promoting and maintaining proper cellular function.

The geriatric population is growing in North America. According to The World Bank Group, in 2021, the population aged 65 years and above accounted for 17.0% of the total population of the US, compared with 16.2% in 2019. The geriatric population is prone to developing disorders, such as psoriasis, rheumatoid arthritis, and systemic lupus erythematosus. The number of cell-based research activities that involve the use of cell separation products, such as the ddSEQ Single-Cell Isolator from Bio-Rad Laboratories, which is based in the US, is therefore increasing, thereby, facilitating the regional market during the forecast period.

Disruptions in the supply and distribution of magnetic beads and other medical necessities negatively affected the market in focus in this region. However, the resumption of various preclinical studies and pharmaceutical operations will drive the demand for magnetic beads. The full-fledged opening of the North American economy due to vaccination drives being conducted in 2021, in turn, will foster the growth of the market in North America during the forecast period.

Market Dynamics and Customer Landscape

The market is witnessing substantial growth, driven by its wide-ranging applications in molecular biology. The magnetic beads are integral in molecular biology applications such as isolating genomic plasmids, DNA, RNA, and proteins for various research and diagnostic purposes. They play a crucial role in healthcare products and in-vitro diagnostics, especially in point-of-care (POC) settings, aiding in the diagnosis and management of chronic diseases. Adherence to government standards like the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act ensures the safety and efficacy of magnetic bead-based healthcare products. Furthermore, their utilization in nanomedicine, pharmaceuticals, and bio-separation techniques highlights their significance in advancing research, diagnostics, and therapeutic interventions across the medical industry.

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Drivers

The growing demand for personalized medicine emerges as a key driver propelling market expansion. Within cells, proteins and genes orchestrate bodily functions, and anomalies can lead to conditions like sickle cell anemia. Utilizing genetic and epigenetic data, personalized medicine precisely targets treatments, minimizing adverse reactions. Its efficacy extends to combating cancer and rare ailments while curbing treatment expenses.

Diagnostic tests monitor vital indicators such as cholesterol, glycated hemoglobin, and blood glucose levels. Pharmaceutical firms are increasingly embracing companion diagnostics, tailoring care solutions to individual needs. In the United States, the personalized medicine market is on the rise, fueled by advancements like next-gen sequencing, whole-genome technology, and combination biomarkers. This surge in demand underscores the escalating significance of personalized medicine in driving market growth.

Significant Market Trends

Technological advancements in in-vitro diagnostic are a major market trend. Technology advancements have transformed IVD with next-gen diagnostics for genes. Point-of-care testing, next-gen sequencing, and automation provide rapid and accurate diagnoses.

Demand for minimally/non-invasive procedures and early disease detection fuels market growth. Advantages include precision, portability, and predictability. R&D drives growth, e.g., Abbott's 13-minute flu test. Companies offer customized solutions through genomic tech for personalized care. Diagnostic and pharma companies collaborate, e.g., bioMerieux. These factors fuel the market growth during the forecast period.

Major Market Challenges

Contamination issues of samples with residual magnetic beads is the major challenge impeding market growth. The sample contamination of fluorescence-activated cell sorting (FACS)-isolated cell-based products were a primary concern for regulatory authorities, as cross-contamination can lead to the transmission of diseases or affect final products. In order to minimize contamination risks, line clearance is required in cell separators, as it eliminates all traces of previous samples, microbial and endotoxin contamination, and traces of harmful cleaning materials. The line clearance and validation of a process can be complex for cell separators.

Moreover, contaminations can result in a loss of time and money. At times, researchers misidentify cell lines and use contaminated cells for experiments. Such experiments can generate incorrect results, which can increase the cost of studies, which is a challenging factor for the growth of the market.

Key Customer Landscape

The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Magnetic Beads Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Vector Laboratories Inc - The company offers magnetic beads which save a lot of time by isolating DNA or RNA in 20-30 min. The company offers a wide range of products under antibodies, blocking reagents, neuronal tracers, and others.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:

• Advanced BioChemicals LLC
• Agilent Technologies Inc.
• AMS Biotechnology Europe Ltd.
• Bangs Laboratories Inc.
• BioChain Institute Inc.
• CD Bioparticles
• Cytiva
• Galenvs Sciences Inc.
• Miltenyi Biotec B.V. and Co. KG
• New England Biolabs Inc.
• Omega Bio tek Inc.
• Promega Corp.
• RayBiotech Life Inc.
• Rockland Immunochemicals Inc.
• SuZhou NanoMicro Technology Co. Ltd.

Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The market experiences robust growth, driven by their widespread applications in molecular biology, genomics, and healthcare. Magnetic beads find extensive use in genomic plasmids, mitochondrial DNA studies, and in-vitro diagnostics for chronic diseases. Compliance with government standards like the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act ensures their suitability for medical applications. Their versatility extends to nanomedicine, where they aid in tumor treatment and infectious disease research, including Zika virus studies. Utilized in bio-separation techniques, magnetic beads streamline processes like cell separation and isolation, crucial in genetic and pharmaceutical research. Their role in fluidic samples, clinical research, and biomolecule isolation underscores their significance in advancing various biological fields.

The market continues to thrive with its diverse applications in molecular biology, healthcare, and nanomedicine. Adhering to government norms and laws ensures their safety and efficacy in medical settings, particularly in point-of-care (POC) diagnostics. Their utilization spans across various research and development activities in genetic research, pharmaceuticals, and infectious diseases. Magnetic beads are integral to in-vitro diagnostic applications, enabling precise blood sampling tests and cell separation protocols. Furthermore, their effectiveness in treatments like nanomagnetic and radio-frequency induction therapies underscores their potential in tumor treatment and nanomedicine applications. With continuous advancements in cellular and molecular research, magnetic beads remain indispensable tools in driving innovation across the life sciences and pharmaceutical industries.

The market plays a pivotal role in molecular biology applications, facilitating various research and development activities in the medical and pharmaceutical industries. Compliance with government standards and policies ensures the safety and efficacy of healthcare products employing magnetic beads. These versatile tools are instrumental in cell separation and isolation protocols, enabling precise cellular studies in areas such as tumor treatment and nanomagnetic therapies. Moreover, their utilization spans across the pharmaceutical industry, where they contribute to advancements in genetic research and in-vitro diagnostic applications like Enzyme-linked immunosorbent assay (ELISA) and Polymerase chain reaction (PCR). With their broad applicability in biological research fields, magnetic beads remain indispensable in driving innovation and progress in experimental biology, cell biology, biochemistry, and genetics.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook 
  • Cell separation
  • IVD assay development
  • Others

• Type Outlook 
  • Ferrimagnetic
  • Superparamagnetic

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Rest of the Middle East & Africa

Magnetic Beads Market Scope
Market Report Coverage	Details
Page number	156
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 11.68%
Market growth 2023-2027	USD 1.67 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	9.87
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Advanced BioChemicals LLC, Agilent Technologies Inc., AMS Biotechnology Europe Ltd., Bangs Laboratories Inc., BioChain Institute Inc., CD Bioparticles, Cytiva, Galenvs Sciences Inc., Miltenyi Biotec B.V. and Co. KG, New England Biolabs Inc., Omega Bio tek Inc., Promega Corp., RayBiotech Life Inc., Rockland Immunochemicals Inc., SuZhou NanoMicro Technology Co. Ltd., Takara Bio Inc., Vazyme Biotech Co. Ltd., Vector Laboratories Inc., Xiamen Zeesan Biotech Co. Ltd., and Zymo Research Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about Companies
• Comprehensive analysis of factors that will challenge the growth of market Companies

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