According to the report published by Allied Market Research, the global magnetic beads market was pegged at $1.1 billion in 2019 and is estimated to hit $2.6 billion by 2027, registering 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. —
Surge in utilization of medical applications, increase in adoption of life science applications, and emergence of bioassays and magnetic separation techniques drive the growth of the global magnetic beads market. On the other hand, the requirement of additional accelerators and time-consuming process of protein purification impede the market growth. However, increase in need for reduced medical cost along with improved medical care is projected to create lucrative opportunities in the industry.
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• 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.
The global magnetic beads market is analyzed across magnetism, size, application, and region. On the basis of magnetic core, the ferrimagnetic segment contributed to more than half of the total market share in 2019, and is expected to lead the trail by 2027. Simultaneously, the superparamagnetic would manifest the fastest CAGR of 12.6% throughout the forecast period.
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On the basis of application, the biomolecules separation & purification segment accounted for nearly half of the total market revenue in 2019, and is expected to dominate by the end of 2027. The same segment would also grow at the fastest CAGR of 12.6% from 2020 to 2027.
On the basis of region, North America held the major share in 2019, generating more than two-fifths of the global market. The market across Asia-Pacific, on the other hand, is projected to manifest the fastest CAGR of 13.6% from 2020 to 2027. The other two regions covered under the report include LAMEA and Europe.
The leading market players analyzed in the global magnetic beads market report include Advanced BioChemicals (ABC), Promega Corporation, Thermo Fisher Scientific Inc., Zeesan Biotech Co. Ltd., Alcon Scientific Industries, New England BioLabs Inc., MagBio Genomics, Calbiotech, Teja Scientific Glass Works, and Vazyme Biotech Co. Ltd. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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