Magnetic Beads Market Trends

Globa Magnetic Beads Market Overview

Magnetic Beads Market Size was valued at USD 2.9 Billion in 2022. The Magnetic Beads industry is projected to grow from USD 3.2 Billion in 2023 to USD 8.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.90% during the forecast period (2023 - 2032). Due to its dependability, simplicity of use, and minimal processing requirements as well as the rising need for healthcare products, molecular biology applications have experienced rapid expansion, are the key market drivers enhancing market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Magnetic Beads Market Trends

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  Rapid growth in molecular biology applications is driving the market growth

  
  

Because of their dependability, minimum processing needs, and ease of use, molecular biology applications are growing quickly in popularity. The market is anticipated to be driven by its additional application in the purification of numerous biomolecules, including mitochondrial DNA, genomic plasmids, DNA, and RNA. The demand for antibody test labs, clinical research labs, vaccine development labs, and the construction of in-vitro diagnostics facilities has increased because to the global COVID-19 outbreak. As people with any chronic disease, such as renal issues or cancer, are more susceptible to the virus, there has been an increase in the testing and treatment of blood samples from patients with chronic diseases. This is also anticipated to expand the use of magnetic beads, favourably impacting the market expansion.

As the need for healthcare products rises, the magnetic bead market is anticipated to experience significant expansion. For instance, the acceptance of in-vitro diagnostics is made easier by their simplicity of use, speed of results, and direct-to-consumer testing. Additionally, it is anticipated that the use of magnetic beads will be encouraged by the growing trend of point-of-care (POC) outside the laboratory or at the doorstep, combined with the growing population and widespread spread of chronic diseases.

In the upcoming years, it is also projected that favourable government norms and laws in the US will accelerate the expansion of the magnetic beads market. For instance, the Federal Food, Drug, and Cosmetic Act's section 201(h) and the Public Health Service Act's section 351 both classify in vitro devices as biological products. Additionally, due of improvements in medical technology, rising costs for medical equipment, and greater demand for medical services from an ageing population, healthcare spending in the U.S. is anticipated to rise.

Magnetic beads are an excellent material to use in a variety of nanomedicine applications because they have unique physicochemical features compared to bulk materials. Nanomagnetic and radio-frequency induction treatments have emerged as a result of technological developments in the medical field, and it is expected that these treatments will increase demand for medical applications. Consequently, it is anticipated that increased use of nanomaterials in tumour treatment will boost market growth. Due to ongoing research and development efforts over the past few years, the market for magnetic beads shows enormous growth potential. The market is anticipated to be driven by the rising popularity of magnetic beads and their varied applications in a number of sectors, including genetic research, diagnostics, and pharmaceuticals. Thus, driving the Magnetic Beads market revenue.

Magnetic Beads Market Segment Insights

Magnetic Beads Application Insights

The Magnetic Beads Market segmentation, based on application, includes bioresearch, in-vitro diagnostics, and others. In 2022, the in-vitro diagnostics segment held the greatest market share. This is because magnetic beads are increasingly being used in bio-separation processes for the specific cell or molecule type. The increasing need for cellular research among scientists and pharmaceutical businesses to identify the physiological and chemical mechanisms included within molecules is also anticipated to fuel market expansion. Research expenditures and investments in the life sciences and pharmaceutical industries have increased, which is tied to the growth of the market. The demand for blood sampling tests has increased due to the rising prevalence of infectious diseases like HIV and the Zika virus, which supports the expansion of magnetic beads.

By improving the effectiveness of cell separation and isolation techniques, magnetic beads present an appropriate option that has the potential to revolutionise a variety of biological research fields. Furthermore, it is anticipated that the product will advance swiftly in the field of biological research due to its optimisation of essential laboratory techniques including biomolecule isolation, enzyme-linked immunosorbent assays (ELISA), and polymerase chain reactions (PCR) for creating copies of DNA samples. Therefore, during the forecast period, the market for magnetic beads is expected to experience significant growth due to such innovations.

Figure 1: Magnetic Beads Market, by Application, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Magnetic Beads Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Magnetic Beads Market dominated this market in 2022 (45.80%). Regional growth has been bolstered by ongoing efforts in nanotechnology research & development to examine possible applications in diverse end-use sectors. Additionally, during the projected period, market growth is anticipated to be positively impacted by the increased focus on the usage of magnetic beads in drug delivery and other biological applications.

In the upcoming years, demand is anticipated to increase due to the bioresearch industry's growing growth in the United States and Canada. The expansion of bioresearch in Canada is being marked by a number of strategic alliances and partnerships. Due to favourable government regulations, the healthcare sector is predicted to expand even more over the course of the projection period, driving up the market for magnetic beads. Further, the U.S. Magnetic Beads market held the largest market share, and the Canada Magnetic Beads market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: MAGNETIC BEADS MARKET SHARE BY REGION 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Magnetic Beads market accounts for the significant market share. This is a result of the growing need for therapeutic and diagnostic options to address the world's growing health issues. The need for healthcare facilities and associated diagnostics centres has grown as a result of the region's increasing rates of infectious diseases, mental health problems, and COVID-19. Further, the German Magnetic Beads market held the largest market share, and the U.K Magnetic Beads market was the fastest growing market in the European region

The Asia Pacific Magnetic Beads market is expected to register fastest growth from 2023 to 2032. This is due to the healthcare and diagnostics sectors in China and Japan expanding so quickly. due to enticing governmental programmes and regulations as well as rising medical industry spending. The region's demand for magnetic beads is anticipated to increase as a result of the growing requirement for the adoption of sophisticated diagnostic technologies due to the rising prevalence of chronic diseases. Moreover, China’s Magnetic Beads market held the largest market share, and the Indian Magnetic Beads market was the fastest growing market in the Asia-Pacific region.

Magnetic Beads Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Magnetic Beads market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Magnetic Beads industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Magnetic Beads industry to benefit clients and increase the market sector. In recent years, the Magnetic Beads industry has offered some of the most significant advantages to medicine. Major players in the Magnetic Beads market, including 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., and MagQu Co. Ltd, are attempting to increase market demand by investing in research and development operations.

Next-generation sequencing (NGS) and multiomics technologies are developed by Singular Genomics Systems Inc (Singular Genomics), a life science technology firm. It has its U.S. headquarters in California. In order to validate its NEBNext Kits, a product supplied for DNA and RNA samples, as well as the G4 operating system, New England Biolabs and Singular Genomics Systems worked together in January 2022. NEBNext kits are developed and quality-controlled to increase yields and library richness using a wide range of input volumes from a wide range of sample types.

Induced pluripotent stem (iPS) cells are used in the development and production of biologically relevant human cells by Fujifilm Cellular Dynamics, Inc. The company's donor-specific MyCell® and iCell® products are available in industrial quantities and are extremely pure, highly repeatable, and allow for drug discovery, toxicity testing, stem cell banking, and cell therapy development. To enhance the creation of novel drug discovery assays, FUJIFILM Cellular Dynamics, Inc. and Promega Corporation partnered in March 2022. According to the multi-year licence agreement, researchers and scientists can use the specially differentiated induced pluripotent stem cell functionalities of FUJIFILM Cellular Dynamics in combination with Promega biosensor and intracellular bioluminescent reporter capabilities as part of innovative assay development in the drug development process.

Key Companies in the Magnetic Beads market include

• 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.


• MagQu Co. Ltd

Magnetic Beads Industry Developments

February 2022: A set of products known as the Magnetic Nano Particles Developer's Kit from Ferrotec Corporation is specifically made for the production of microbeads used in in-vitro diagnostic applications. Ferrotec's MNP solutions improve reactivity, accuracy, and specificity for IVD applications such immunoassays, bio-separations, and molecular testing due to its ability to considerably increase the microbead surface area.

Magnetic Beads Market Segmentation

Magnetic Beads Application Outlook

• Bioresearch


• In-vitro Diagnostics


• Others

Magnetic Beads Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America