Microcarrier Market is Expected to Reach USD 2.9 Billion By 2028 - Reports and Data

Global microcarrier market size is expected to reach USD 2.9 billion by 2028 and register a CAGR of 10.5% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is driven by key factors such as increasing R&D expenditure by pharmaceutical and biotechnology companies and rapid developments across cell therapy industry.

Increasing demand for stem cell therapy coupled with rising prevalence of cancer across the globe is projected to drive microcarrier market growth. One of the leading drivers for microcarrier market growth is rising prevalence of diseases where cell therapy can be effectively applied. WHO estimates that the global burden of cancer is predicted to rise to 27.5 million new cases and 16.3 million deaths by 2040. Increasing funding for the biopharmaceutical industry and technological advancements in microcarrier development have also contributed to growth of the market. For instance, researchers from the Singapore-MIT Alliance for Science and Technology (SMART), have developed a novel microcarrier for large-scale cell production and expansion that provides higher yield and cost-effectiveness than conventional methods while reducing the number of steps needed in the cell retrieval process.

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The newly developed dissolvable gelatin-based microcarrier from SMART has shown to be effective for cell expansion in the treatment of a variety of ailments including bone and cartilage defects as well as body's rejection of foreign bone marrow and cells (called graft vs. host disease). In addition, the microcarriers' dissolvability removes the need for a second separation stage to remove the cells from microcarrier. This simplifies cell manufacturing while also improving the ease with which therapeutic cells can be processed for use in patient products. The growing demand for cell therapies will propel the microcarrier market forward.

Various academic institutes and small-scale companies with limited budgets cannot afford to conduct cell biology research as it involves extensive R&D, which demands highest quality of equipment, media, reagents, and other products. Microcarriers are mainly used in stem cell biology, which is a factor expected to restrain market growth. Moreover, the need to comply with strict guidelines by regulatory bodies has driven up the cost of cell biology, thus creating additional challenges for the microcarriers market.

Some Key Highlights From the Report:

The market is segmented into consumables and equipment based on commodity. Among the product segments, consumables accounted for largest share in the global market in 2020.

The global microcarriers market is segmented based on application into vaccine production, cell therapy, and others. Vaccine production, among the application segments, accounted for largest revenue share in 2020.

The global microcarriers industry is segmented into pharmaceutical and biotechnology firms, research institutes, and contract research organisations (CROs) based on end-use. In 2020, pharmaceutical and biotechnology firms accounted for largest revenue share.

Due to increased cell therapy research, the North American microcarriers market is expected to account for the largest revenue share in 2028.

A similar pattern has been observed in the Asia Pacific region, where research funding has increased in tandem with the region's increased R&D expenditure.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

Thermo Fisher Scientific, Corning, Merck, Sartorius, Danaher Corporation, Becton, Dickinson And Company, Eppendorf Ag, Lonza Group, Getinge Ab, Chemometec, Cesco Bioengineering, Himedia Laboratories, Esco Vaccixcell, Stemcell Technologies, Solida Biotech, Stobbe Pharma, Distek, Celltainer Biotech, G&G Technologies, and Tantti.

Microcarrier Market Segmentation:

Product Outlook (Revenue, USD Billion, 2018-2028)

Consumables
Media
Sera/Serum-based Media
Serum-free Media
Other Media
Reagents
Microcarriers
Collagen-coated Microcarriers
Cationic Microcarriers
Protein-coated Microcarriers
Untreated Microcarriers
Other Microcarriers
Equipment
Bioreactors
Single-use Bioreactors
Stainless-steel Bioreactors
Culture Vessels
Filtration and Separation Equipment
Cell Counters
Other Equipment

Application Outlook (Revenue, USD Billion, 2018-2028)

Biopharmaceutical Production
Vaccine Production
Therapeutic Protein Production
Cell and Gene Therapy
Tissue Engineering and Regenerative Medicine
Other Applications

End Use Outlook (Revenue, USD Billion, 2018-2028)

Pharmaceutical & Biotechnology Companies
Contract Research Organizations & Contract Manufacturing Organizations
Academic and Research Institutes
Cell Banks

Regional Outlook:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

Frequently asked questions addressed in the report:

What is the revenue growth rate of the global Microcarrier market over the forecast period?
What are the major factors driving the growth of the Global Microcarrier Market?
What are the key challenges impacting the global Microcarrier market growth?
What are the outcomes of the SWOT Analysis and Porter's Five Forces Analysis conducted in the report?

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