Magnetic Beads Market to Reach Value of US$ 6.7 Bn by 2032, Reveals TMR Analysis

• Rising adoption of in-vitro testing is projected to drive growth of the magnetic beads market, which is expected to expand at a CAGR of 15.5% during 2022-2032
• The existence of sizable number of genetic research institutes in North America is prognosticated to fuel the regional market growth in the near future

WILMINGTON, Del., Dec. 5, 2022 /PRNewswire/ -- A research report by Transparency Market Research (TMR) states that the global magnetic beads market is prognosticated to reach a value of US$ 6.7 Bn by the end of 2032. Besides, the TMR review notes that the market for magnetic beads is expected to advance at a CAGR of 15.5% during the forecast period, from 2022 to 2032.

Companies are focusing on the development of highly effectual and distinctive magnetic beads. Moreover, several players are using the strategies of technology collaborations, new product launches, and alliances in order to maintain their prominent positions in the market. These efforts are likely to lead to overall growth of the market during the forecast period, note researchers at TMR.

Magnetic beads find application in varied industry verticals such as protein purification, magnetic-activated cell sorting (MACS), next-generation sequencing (NGS), and PCR testing. This broad application is prognosticated to fuel business opportunities in the market during the forecast period. This aside, a rise in the product use in the NGS procedures for nucleic acid purification and separation is foreseen to boost the future demand in magnetic beads market, according to TMR assessment.

The market players are expected to gain sizable business avenues in North America during the forecast period owing to several factors including the presence of numerous genetic research institutes in the region. Moreover, the regional market is being driven by a surge in the demand for in vitro testing in Canada and the U.S., notes TMR review.

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Market Key Findings

• Magnetic beads are gaining impetus in the recent years owing to their increased application in hyperthermia therapy, immunoassays, cell manipulation, DNA extraction, colloidal nanocrystal integration, and magnetic resonance imaging. Hence, this wide range of product application is boosting the market expansion, according analysis by TMR. This aside, a rise in investments in microbiology and genetic research projects across the globe is creating profitable prospects in the market for magnetic beads.
• The demand for magnetic beads is projected to rise in the forthcoming years owing to many factors including variations in medicine distribution via medical care and phosphopeptide development. This aside, there has been increase in the product use in varied biological applications for implementing treatment and research methods. These factors are expected to create prominent business opportunities in the market in the near future, notes the magnetic beads market analysis by TMR.
• The adoption of NGS technology is being rising in the recent years in the medical industry owing to their manifold advantages such as high sensitivity to detect low-frequency changes, large samples, and reduced turnaround time. Rise in the utilization of magnetic beads in the size selection of NGS technology is leading to lucrative avenues in the market.

Market Growth Boosters

• Increase in the popularity of in-vitro testing worldwide is projected to drive the expansion of the magnetic beads market size during the forecast period
• Surge in the prevalence of tumor and cancer across the globe is estimated to boost growth prospects in the global market for magnetic beads

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Market Key Players

Some of the key players profiled in the report are:

• Merck KGaA
• Thermo Fisher Scientific Inc.
• Spherotech, Inc.
• Bangs Laboratories, Inc.
• CardioGenics, Inc.
• GenScript
• Miltenyi Biotec
• Bio-Rad Laboratories, Inc.
• Eurofins Technologies
• Ferrotec (USA) Corporation
• New England Biolabs
• Micromod Partikeltechnologie GmbH
• Dynal Inc.
• Rockland Immunochemicals, Inc.
• Ferrofluidics
• Promega
• Magnetically Delivered Therapeutics Inc
• Immunicon Corp

Magnetic Beads Market Segmentation

By Type

• Immunoprecipitation
• Cells
• Pathogenic Microorganisms
• Nucleic Acids
• Peptide
• Protein
• Others

By Magnetic Core

• Superparamagnetic
• Ferrimagnetic

By Size

• Less than 5 μm
• 5-20 μm
• 20-40 μm
• 40 μm and Above

By Application

• Bioresearch
• In-vitro Diagnostics
• Others

By Region

• North America
• Latin America
• Europe
• APAC
• MEA

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