The global magnetic beads market was valued at US$ 1.93 Billion in 2020 and is expected to reach US$ 6.21 Billion in 2030; growing at a CAGR of 12.6 % from 2021 – 2030.
Magnetic beads are tiny supermagnetic iron particles that have vast applications in molecular biology such as polymerase chain reaction (PCR), quantitative PCR (qPCR), droplet digital PCR (ddPCR), next-generation sequencing (NGS), protein purification, and other genotyping applications. ANISOTROPIC is the most powerful magnetic bead and is widely used in wrapped jewellery without clasps. Magnetic beads have a wide range of applications in next-generation sequencing (NGS) workflows, such as isolation & nucleic acid purification. NGS is used widely in the medical sector because of its efficiency and benefits over other sequencing techniques such as fast turnaround time, detecting large samples, and low-frequency variations. Magnetic beads are extensively used in biomedical sector for drug targeting, clinical diagnosis, cell isolation, detection, and nucleic acid purification, which is pouring the growth of the global magnetic beads market.
High demand for magnetic beads in various genetic & biological research processes, wide range adoption of magnetic beads in molecular biology, high reliability, minimal processing requirements, and its incredible usage in the purification of biomolecules such as plasmids, genomic DNA, mitochondrial DNA, RNA, and proteins are vigorously driving the global magnetic beads market. Usage of NGS in the medical industry, new product developments, and adoption of magnetic beads in immunoassays & medical applications are boosting the global magnetic beads market growth. Also, extensive ongoing R&D, and strategies adopted by various market players such as collaborations, partnerships, acquisitions, joint ventures, new product development, capacity expansion, promotion of key product brands, and significant investments to provide better customer satisfaction thereby, augmenting the market growth of the global magnetic beads market.
The global magnetic beads market is bifurcated on the basis of Application, and Region. The Application segment is classified into Bioresearch, In-Vitro Diagnostics, and Others. Among all the segments, In-Vitro Diagnostics segment dominates the global magnetic beads market and accounted for more than 50% of revenue in 2020.
In-Vitro Diagnostics are tests performed on samples such as blood or tissues of the human body and are effective in detecting diseases or other conditions. In-Vitro Diagnostics are also used to monitor the overall health of the human body to prevent, cure and treat diseases. Magnetic beads are an effective alternative to colloidal gold particles in in-vitro diagnostics owing to their comparatively lower costs and ability to generate faster results. In-Vitro Diagnostics are getting immense popularity around the globe owing to their efficiency & accuracy. Also, the increasing population, rising chronic & infectious diseases, and the high demand for healthcare products are propelling demand for In-Vitro Diagnostics globally hence boosting the global magnetic beads market.
Based on Region, the global substation market is segmented into North America, Europe, Asia-Pacific, and RoW. North America is further classified into U.S., Canada, and Mexico. Europe is further segmented into Germany, the U.K., France, Italy, Spain, Russia, and the rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, South Korea, and the rest of APAC. The RoW includes South & Central America, the Middle East, and Africa. North America is leading the global magnetic beads market among all the geographies owing to increasing demands from various industries, rising industrialization, improved healthcare industry, and the strong presence of market players in the region.
Prominent Players of the global magnetic beads market are Merck KGaA, GenScript, Thermo Fisher Scientific Inc., Bangs Laboratories, Inc., CardioGenics, Inc., Bio-Rad Laboratories, Inc., Ferrotec (USA) Corporation, Eurofins Technologies, Miltenyi Biotec, New England Biolabs, Rockland Immunochemicals, Inc., MagQu Co. Ltd., and GenScript among others.
Market Segmentation And Scope Of the Global Magnetic Beads Market
Rest of the World
Prominent players of the Global Magnetic Beads Market