Microcarriers Market to Hit USD 3.05 Billion by 2029 with 8.0% CAGR | MarketsandMarkets Trademark

Browse 761 market data Tables and 57 Figures spread through 557 Pages and in-depth TOC on "Microcarriers Market by Product (Equipment (Single Use Bioreactor, SSB, Cell Counter, Filtration), Consumables (Media, Reagent), Beads (Natural (Collagen), Synthetic (Polystyrene)), Application (Vaccine, CGT, Stem Cells) - Global Forecast to 2029
The global Microcarriers market [https://www.marketsandmarkets.com/Market-Reports/microcarrier-market-139831731.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=microcarriermarket], valued at US$2.03 billion in 2023, is forecasted to grow at a robust CAGR of 8.0%, reaching US$2.08 billion in 2024 and an impressive US$3.05 billion by 2029. Market growth is attributed to rising investments in cell & gene therapy research, growing preference for single-use technologies, and increasing R&D spending for biopharmaceutical production. However, the high cost of cell biology research and limitations in high-density cell culture production are expected to hinder the market growth over the forecast period.

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Browse in-depth TOC on "Microcarriers Market"

761 - Tables

57 - Figures

557 - Pages

Based on product, the microcarriers market is segmented into consumables and equipment. The consumables segment accounted for the largest share of the microcarriers market. The large share of the consumables segment is attributed to the repeated purchase and requirement in bulk quantities of sera, media, and reagents for various microcarrier cell culture applications. Additionally, increasing production and development of advanced biopharmaceuticals is driving the growth of the segment in microcarriers market.

Among application segment, the microcarriers market is segmented into tissue engineering and regenerative medicine, biopharmaceutical production, and other applications. The biopharmaceutical production segment accounted for the largest share of the microcarriers market. The large share of the biopharmaceutical production segment can be attributed to the commercial expansion of major pharmaceutical companies, growing regulatory approvals for cell culture-based vaccines, and increasing demand for monoclonal antibodies (mAbs).

Among end user segment, the microcarriers market is segmented into pharmaceutical & biotechnology companies, academic and research institutes, contract research organizations & contract manufacturing organizations, and cell banks. The pharmaceutical & biotechnology companies segment accounted for the largest share of the microcarriers market. Rising awareness about the benefits of cell-based vaccines, growing regulatory approvals for cell-based vaccines, and a focus on commercial expansion are the major factors driving the growth of this segment.

The microcarriers market is segmented by region into six key areas, namely North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2023, North America dominated the market followed by Europe at second position and Asia Pacific was at third position. The majority share of the market in North America. The key factors driving the growth of the market in North America include increasing demand for cell-based therapies, strong government support for stem cell research, and the presence of a well-established pharmaceutical industry that is likely to drive the growth of the market. The market in Canada is likely to grow in the coming years due to several government initiatives and the intensification of genomics R&D through the Genomic Applications Partnership Program (GAPP) in the country.

In addition, the US accounted for the largest market share in the North American microcarriers market. Major share of the country is determined by factors like well-established pharmaceutical and biotechnology sector, cell therapy and biologics, and regulatory vaccine approvals. Increasing incidences of diseases like cancer along with high funding for the life sciences research are also contributing to the major share of the country. For example, According to the National Cancer Institute, there were nearly 2 million people who were suffering from US Cancer cases in 2023. The current treatment options will cater to the unmet demands if cell-based therapies are employed. Since microcarrier culture technology is used in the R&D and production of vaccines and antibiotics, it is likely that these factors will create a large number of opportunities for the growth of the microcarriers market.

Europe is the second largest market after North America. The availability of government funding, growth in the biotechnology and pharmaceutical sectors, and the rise in the number of conferences, symposia, seminars, trade fairs, annual events, and workshops being organized in Europe that focus on creating awareness about microcarriers are expected to drive the growth of the market in the region. These factors help increase awareness about current technological advancements and aid in the discussion of various challenges and opportunities prevailing in the industry. Such events also offer market players the opportunity to showcase their products and communicate with stakeholders while helping scientists and researchers to exchange experiences. According to the Alliance for Regenerative Medicine (ARM), a global advocate for regenerative and advanced therapies, out of 843 regenerative medicine companies globally, Europe houses 234.

Moreover, In 2023, the Asia Pacific is third largest market for microcarriers. This surge in the regional market is attributed to various factors such as government backing for cell-based vaccine production and therapies, expansion initiatives by key market players in emerging Asian economies, heightened vaccine manufacturing capacities of major companies, increased research and development investments by biotechnology and pharmaceutical firms, collaborative ventures in bioprocessing, a growing elderly population, amplified focus on regenerative medicine research, and the upsurge in preclinical/clinical research particularly in China and India.

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Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), and Danaher Corporation (US) holding the significant global market share and the global microcarriers market is highly cosolidated.

Thermo Fisher Scientific Inc. (US)

Thermo Fisher Scientific (US) is a leading player in the microcarriers market. The company has strong brand image, robust product portfolio, and product development focus. The company offers its products through well-established brands such as Gibco, Nunc, Countess, Dynabeads, and HyPerforma. The company focuses on product launches, expansion, and acquisition to strengthen the position in the market. For example, in September 2023, the company introduced Gibco CTS Detachable Dynabeads, a groundbreaking platform with an innovative active-release mechanism designed for clinical and commercial cell therapy manufacturing.

Merck KGaA (Germany)

Merck KGaA is a leading science and technology company with a strong global presence in more than 120 countries. The company has a portfolio of more than 300,000 life science products that support a broad customer base. Merck has been a prominent player in the life sciences industry, offering various products and services to support researchers and biomanufacturers. The company has a comprehensive portfolio that includes cell culture media, reagents, and other essential tools for bioprocessing. Merck majorly focuses on expansions in key geographies to increase its customer base. In June 2023, Merck KGaA expanded its reagent manufacturing facility in Nantong, China with an investment of about USD 76.5 million.

Danaher Corporation (US)

Danaher Corporation is one of the leading companies in the microcarriers market, attributed to a strong product portfolio, recent acquisitions, and partnerships. Danaher Corporation (Cytiva) (US) offers a wide range of products, including microcarriers, bioreactors, media, and reagents, which greatly expanded Danaher's position and offerings in the microcarriers market. The Pall Corporation subsidiary is also active in this market and offers single-use and stainless-steel bioreactors and filtration equipment. In May 2023, Cytiva and the life sciences business of Pall Corporation completed their integration and are now united as one business under the Cytiva brand.

In October 2023, Cytiva opened a new manufacturing facility in Pune, India, which will double its manufacturing capacity in the country. The facility will produce bioprocessing equipment, including tangential flow, virus filtration, and inactivation systems, to support the Indian biopharmaceutical industry.

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