Press release
Government Initiatives Fuel Growth In The Magnetic Beads Market For Genetic And Microbiological Research: Key Factor Driving The Growth In The Magnetic Beads Market
Magnetic Beads
What Is the Expected Magnetic Beads Market Size During the Forecast Period?
A swift expansion has been observed in the market size of magnetic beads in recent years. The value is projected to increase from $2.43 billion in 2024 to $2.73 billion in 2025, a compound annual growth rate (CAGR) of 12.2%. The substantial growth in the historic period is likely due to factors such as the COVID-19 pandemic, a rise in healthcare spending, and a rapidly aging population.
There is a prediction for significant expansion in the magnetic beads market in the upcoming years, with an anticipation to reach $4.73 billion in 2029, following a compound annual growth rate (CAGR) of 14.7%. The projected increase during the forecast period can be traced back to governmental efforts towards genetic and microbiological studies, expansion in the medical technology domain, and the rising occurrence of chronic illnesses. The forecast period is anticipated to witness key market trends such as the development of cutting-edge technological solutions, emphasis on introducing magnetic bead modification services for improved cell isolation, DNA or RNA extraction, and protein purification, along with the introduction of magnetic bead separation plates for cost-effective nucleic acid testing.
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What Are the High-Growth Segments in the Magnetic Beads Market?
The magnetic beads market covered in this report is segmented -
1) By Type: Cells Microbes, Nucleic Acids, Proteins, Other Types
2) By End User: Healthcare Facilities, Individual Pathology Labs, Research Labs, Other End Users
3) By Magnetic Core: Superparamagnetic, Ferrimagnetic
4) By Application: Cell Separation And Expansion, Protein Sample Preparation And Protein Purification, IVD Assay Development, Nucleic Acid Isolation, Immunoprecipitation, Antibody Purification, Other Applications
Subsegments:
1) By Cells Microbes: Bacterial Cells, Yeast Cells, Mammalian Cells
2) By Nucleic Acids: DNA Magnetic Beads, RNA Magnetic Beads, Plasmid DNA Magnetic Beads
3) By Proteins: Antibody-Conjugated Magnetic Beads, Enzyme-Conjugated Magnetic Beads, Peptide-Conjugated Magnetic Beads
4) By Other Types: Beads For Cell Separation, Beads For Protein Purification, Beads For Drug Delivery Applications
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What Key Drivers Are Expected to Influence Future Magnetic Beads Market Growth?
The magnetic beads market is projected to expand due to governmental support towards genetic and microbiological studies. National strategies are being introduced by various countries to further microbial genomics research, thus potentially amplifying the need for magnetic beads amidst these genetic and microbiological studies. For example, the British Department of Health and Social Care disclosed in December 2022 that NHS England had released its research and development agenda data in March 2022, potentially allotting up to £18 million ($19.41 million), subject to governmental approval. The intention of this funding is to boost the application of genomics and corresponding health data in research and innovation as part of the Genome UK initiative. Consequently, these governmental incentives for genetic and microbiological studies are likely to stimulate the expansion of the magnetic beads market.
Which Companies Hold the Largest Share Across Different Magnetic Beads Market Segments?
Major companies operating in the magnetic beads market include Thermo Fisher Scientific Inc, Merck KGaA, Bio-Rad Laboratories, Inc, Qiagen, Danaher Corporation, Miltenyi Biotec, Promega Corporation, Takara Bio Inc, Genscript Biotech Corporation, Bangs Laboratories Inc, Zhejiang Orient Gene Biotech Co. Ltd, Eurofins Abraxis, Zeesan Biotech, Hemotune AG, NanoSyrinx, Pulmobiotics S. L, EnginZyme, Chain Biotech, Nuclera Nucleics, Phytoform Labs, Entelechon GmbH, Sloning BioTechnology GmbH, Siemens Healthineers Ukraine, TestLine Clinical Diagnostics s.r.o, Roche, Spherotech, CardioGenics, NEB, Rockland Immunochemicals
What Are the Latest Developing Trends in the Magnetic Beads Market?
The magnetic beads market is currently seeing a surge in popularity from an evolving trend of technological advancement. The main market contenders are heavily investing in innovation and broadening their application range as a strategy to secure a larger market share. As an illustrative example, in October 2022, Thermo Fisher Scientific Inc., a healthcare firm based in the US that specializes in creating reagents, kits, consumables, and testing kits, plans to roll out their Dynabeads Technology. Relying heavily on paramagnetic spherical polymer particles, this technology finds use in messenger RNA (mRNA) for the making and purification of mRNA that's needed for vaccine production and manufacturing, or carboxylic acid for RNA purification processes.
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What Are the Emerging Geographies for The Magnetic Beads Market Growth?
North America was the largest region in the magnetic beads market in 2024. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic beads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Magnetic Beads Market?
2. What is the CAGR expected in the Magnetic Beads Market?
3. What Are the Key Innovations Transforming the Magnetic Beads Industry?
4. Which Region Is Leading the Magnetic Beads Market?
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