Global magnetic beads market was over at $1.1 billion in 2019 and is projected to hit $2.6 billion by 2027, growing a CAGR of 12.1% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, due to upsurge in the use of magnetic beads for the establishment of target genomic DNA capturing method. However, the global magnetic beads market across Asia-Pacific is expected to register the highest CAGR of 13.6% during the forecast period, owing to rise in utilization of magnetic beads for DNA extraction methods from a fecal sample.Global magnetic beads market was over at $1.1 billion in 2019 and is projected to hit $2.6 billion by 2027, growing a CAGR of 12.1% from 2020 to 2027.
The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, due to upsurge in the use of magnetic beads for the establishment of target genomic DNA capturing method. However, the global magnetic beads market across Asia-Pacific is expected to register the highest CAGR of 13.6% during the forecast period, owing to rise in utilization of magnetic beads for DNA extraction methods from a fecal sample.
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By application, the biomolecules separation & purification segment is estimated to register the highest CAGR of 12.6% from 2020 to 2027. Moreover, the segment held the lion’s share in 2019, contributing to nearly half of the global magnetic beads market, as magnetic beads offer a minimalist and reliable method for purification of various types of biomolecules.
By magnetic core, the ferrimagnetic segment held the largest share in 2019, accounting for more than half of the global magnetic beads market, due to its application in biomedical assays. However, the superparamagnetic segment is projected to register the highest CAGR of 12.6% during the forecast period, owing to its extensive use in identification, isolation, and genetic analysis of cells and nucleic acids.
Increase in utilization in medical applications, surge in adoption in life science applications, and application in bioassays and magnetic separation techniques drive the growth of the global magnetic beads market. However, the requirement of additional accelerators and time-consuming process of protein purification hinder the market growth. On the contrary, increase in need for reduced medical cost along with improved medical care is expected to open lucrative opportunities for the market players in the future.
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Major Market Players
- Thermo Fisher Scientific Inc.
- Promega Corporation
- Advanced BioChemicals (ABC)
- New England BioLabs Inc.
- Zeesan Biotech Co. Ltd.
- MagBio Genomics
- Calbiotech
- Vazyme Biotech Co. Ltd.
- Teja Scientific Glass Works
- Alcon Scientific Industries.
Covid-19 scenario:
- There’s been a steep increase in the need for large-scale testing of coronavirus infection using RT-qPCR and RT-LAMP, which requires use of magnetic beads. This factor has boosted the global market for magnetic beads.
- At the same time, surge in use of magnetic beads for the detection of Covid-19 infection has again augmented its demand.
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