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.
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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Magnetic bead, is a tool that rotates and generates stirring action when immersed in appropriate liquid. It is incorporated for effective separation of micrometer-sized para-ferromagnetic and ferromagnetic particles from chemical or biological suspensions. In addition, magnetic beads are used for extraction of DNA and RNA as well as for co-extraction of DNA and RNA from sputum. Magnetic beads embedded with magnetic nanoparticles in a suitable matrix are used in diagnosis and therapeutic application in the medical sector. Moreover, they are used for purification of cells, protein, nucleic acid, and other molecules in proficient and precise manner.
Impact Of Covid-19 On the Magnetic Beads Market:
- 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.
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The growth of the global magnetic beads market is majorly driven by surge in adoption of magnetic beads in life science applications, including molecular biology, immunoassays, and medical applications. In addition, alarming rise in acute respiratory infections (ARIs) is increasing the susceptibility of developing severe diseases, such as pneumonia. Pneumonia, in turn, leads to high morbidity and mortality rates among children. Thus, development of effective way for diagnosis and providing timely treatment has increased the burden on healthcare system. Nucleic acid amplification is widely adopted diagnosis method for detection of respiratory tract infections and ARIs. Recently, magnetic beads are used for nucleic acid amplification, which, in turn, has reduced the mortality rate due to ARI.
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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.
The major players operating in the Magnetic Beads Market:
- 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.
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