Global Magnetic Beads Market by Application (In-vitro Diagnostics, Bioresearch) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global magnetic beads market was valued at USD 1.89 million. The market is expected to grow at a compound annual growth rate (CAGR), of 17.5% between 2020 and 2027. The market is expected to grow due to a rising preference for in vitro diagnostic testing, which are versatile and can provide quick results. Magnetic beads are made from iron oxide nanoparticles, such as magnetite nanoparticles (Fe3O4) with a size range of 20 nm to thirty nm. Magnetic beads, in stark contrast to other ferromagnets, exhibit magnetic behavior only when there is an external magnetic field. These beads are therefore able to be used with no concern about unwanted clumping.

In-vitro diagnosis was the most popular application segment of the U.S. magnet beads market in 2019. In-vitro diagnostics have seen a rise in demand over the years due to their reliability, speed and versatility.

Over the forecast period, product demand is expected to rise significantly due to increased investments in microbiology and genetic research. They are used for next generation sequencing (NGS), protein purification and magnetic-activated cell sorting.

The industry will face major challenges in assessing the product's toxicity. Nanoparticle production and research has led to an increase in the demand for reliable and standard methods to evaluate the toxicity of nanoparticles under various exposure, biological, or dosing conditions.

In the case of nanoparticle-enabled products like magnetic beads, regulations play an important role. To ensure product safety in medical and industrial settings, developers, regulators and researchers must communicate effectively.

Application Insights

In-vitro diagnostics was the largest market segment and accounted to more than 60% of global revenue share in 2019. Due to their higher accuracy, in-vitro diagnosis is gaining popularity in the healthcare industry. This product is an effective replacement for colloidal gold particles in in vitro diagnostics because of its comparatively low cost and ability to produce faster results.

In-vitro diagnostics can be used to analyze blood and tissue samples from the body. These tests are used extensively to diagnose various conditions and infections that affect the human body. Scientists are also looking into the possibility of using in-vitro diagnosis in precision medicine applications.

Over the forecast period, the bioresearch segment is expected to grow at 18.7% CAGR. Increasing investments in genetic research activities around the globe are expected to drive demand. In the future, the market will be supported by a growing number of bioresearch institutes.

Other applications include the use of magnetic resonance imaging (MRI), optimizing bioengineering processes and increasing oil well recovery rates. The MRI segment will have a significant impact on market growth during the forecast period due to its ability produce tissue-specific signals that enhance detection of malignant tumours and metastases.

Regional Insights

North America was the dominant market, accounting for 48% of all total revenue in 2019. The North American region has some of the most prestigious genetic research facilities around the globe, which generates significant demand for magnetic beads. The market has also seen significant growth due to the high demand for in vitro tests from both the U.S. healthcare sector and Canada.

Europe is forecast to see a 17.9% CAGR in product demand over the forecast period. The region has seen a rise in health awareness. This has increased the demand for therapeutic and diagnostic solutions. The healthcare sector is likely to see an increase in product demand due to increased product adoption for treatment and diagnosis of medical conditions like cancer and brain tumors.

The European Union (EU), is encouraging research in the area of nanomaterials. The EU established NANOfutures as a European Technology and Innovation Platforms (ETIPs). This platform is multi-sectoral and cross-ETP. It collaborates with major industries to help commercialize various nanomaterials, such as magnetic beads.

Due to rapid growth in healthcare and diagnostics industry, the Asia Pacific region will also grow rapidly. Product demand is expected to rise due to the growing use of in-vitro diagnosis technology and rising investments in healthcare infrastructure.

Market Share Insights & Key Companies

Key players include Dynal Inc., Merck Estabor, Bangs Laboratories, Advanced Magnetics Inc. and Cortex Biochem. These companies are constantly engaged in R&D and the implementation new technologies to be competitive and meet various application needs.

Many players are able to position themselves on the market by offering diverse products with different technical specifications. To meet customer demand in different industries, such as bioresearch and in-vitro diagnostics and drug delivery systems, companies are constantly optimizing their production technologies.

The following are some of the most prominent players in global magnetic beads market:

• Dynal Inc.

• Merck Estabor

• Bangs Laboratories

• Advanced Magnetics Inc.

• Cortex Biochem

• Promega

• Ferrofluidics

• Immunicon Corp

• Magnetically Delivered Therapeutics Inc.

• PureBiotech, LLC.

Up Market Research published a new report titled “Magnetic Beads Market research report which is segmented by Application (In-vitro Diagnostics, Bioresearch), By Players/Companies Cortex Biochem, Dynal Inc, Promega, PureBiotech LLC, Bangs Laboratories, Merck Estabor, Immunicon Corp, Advanced Magnetics Inc, Magnetically Delivered Therapeutics Inc, Ferrofluidics”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Magnetic Beads Market Report Segments:

The market is segmented by Application (In-vitro Diagnostics, Bioresearch).

Magnetic Beads Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Magnetic Beads Market

Overview of the regional outlook of the Magnetic Beads Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Magnetic Beads Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Magnetic Beads Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. In-vitro Diagnostics

                2. Bioresearch

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Magnetic Beads Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Magnetic Beads Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.