Allied Market Research recently published a report, titled, “Magnetic Beads Market by Magnetic Core (Ferrimagnetic and Superparamagnetic), Size (Less than 5 um, 5-20 um, 20-40 um, and 40 um & Above) and Application (Next-Generation Sequencing (NGS), Biomolecule Separation & Purification, Molecular & Immunodiagnostics, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027″. As per the report, the global magnetic beads industry was pegged at $1.1 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 12.1% from 2020 to 2027.
Drivers, restraints, and opportunities
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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The outbreak of Covid-19 negatively affected the global economy and changed consumer spending patterns.
The rise in the number of Covid-19 patients increased the need for large-scale testing of coronavirus infection using RT-qPCR and RT-LAMP, which requires use of magnetic beads.
· In addition, the rise in use of magnetic beads for the detection of Covid-19 infection has boosted its demand.
The ferrimagnetic segment dominated the market
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.
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The biomolecules separation & purification segment to manifest the highest CAGR through 2027
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.
North America to hold the lion’s share
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.
Major Market Players
Thermo Fisher Scientific Inc.
Advanced BioChemicals (ABC)
New England BioLabs Inc.
Zeesan Biotech Co. Ltd.
Vazyme Biotech Co. Ltd.
Teja Scientific Glass Works
Alcon Scientific Industries.
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