Magnetic Beads Market Size, Share & Trends Analysis Report By Application (Bioresearch, In-vitro Diagnostics, Others), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2022 - 2030

Magnetic Beads Market Summary

It is further used to purify various biomolecules such as genomic plasmids, DNA, RNA, proteins, and mitochondrial DNA, which is expected to drive the market.

The global outbreak of COVID-19 has fueled the demand for antibody test laboratories, clinical research labs, vaccine development labs, and the establishment of in-vitro diagnostics facilities. Chronic disease blood sample testing and treatment have seen a surge as individuals suffering from any chronic disease such as kidney problems or cancer are more prone to the virus. This is further expected to increase the use of magnetic beads, hence, positively contributing to the market growth.

The market for magnetic beads is expected to witness notable growth on account of the increasing demand for healthcare products. For instance, ease of operations, rapid result, and direct-to-consumer testing further facilitate the adoption of in-vitro diagnostics. Moreover, the increasing trend of point-of-care (POC) outside the laboratory or at the doorstep, coupled with the increasing population and high-scale spreading of chronic diseases, is expected to promote the usage of magnetic beads.

Favorable government standards and policies in the U.S. are also anticipated to boost magnetic beads market growth in the coming years. For instance, in vitro devices have been defined in section 201(h) of the Federal Food, Drug, and Cosmetic Act and as biological products subject to section 351 of the Public Health Service Act. Additionally, healthcare spending in the U.S. is likely to witness an increase because of advancements in medical technologies, rising medical equipment prices, and increased demand for medical services from the aging population.

Nanomaterials such as magnetic beads possess physicochemical properties that vary from general bulk materials, which make them an ideal material to be used in multiple applications in nanomedicine. Technological advancements in the medical industry have led to the emergence of nanomagnetic and radio-frequency induction treatments, which, in turn, are anticipated to drive the demand in medical applications. Hence, the rising adoption of nanomaterials in curing tumors is also projected to augment market growth.

The market for magnetic beads exhibits a huge potential for growth on account of continuous research & development activities over recent years. The growing popularity of magnetic beads coupled with diversified applications in several industries such as genetic research, diagnostics, and pharmaceuticals superparamagnetic properties is expected to drive the market.

Application Insights

The in-vitro diagnostic application segment led the market and accounted for more than 58.9% of the global revenue share in 2021. This is due to the increasing use of bio-separation techniques for the targeted cell or molecule type, which has applications for magnetic beads. Additionally, the growing demand for cellular study by various scientists and pharma companies to determine physiological and chemical mechanisms within a molecule is expected to contribute further to market growth.

There has been an increase in investments and spending in the life sciences and pharmaceutical industry research, which is correlated to market development. The growing occurrence of infectious diseases, including HIV and Zika virus, has triggered the demand for blood sampling tests which contributes to the growth of magnetic beads.

Magnetic beads offer a suitable solution that could revolutionize a wide range of biological research by enhancing the efficacy of cell separation and isolation protocols. Furthermore, the product uses optimizing necessary laboratory techniques, such as isolation of bio-molecules, enzyme-linked immunosorbent assay (ELISA), and polymerase chain reaction (PCR) for making copies of DNA samples is further expected to evolve in the field of biological research rapidly. Hence, such technologies are likely to witness promising growth in the market for magnetic beads during the forecast period.

The magnetic separation method is the only feasible solution for the recovery of minute and small particles (diameter ranging from 0.05 to 1μm) in the presence of biological debris of similar size from different fluidic samples under clinical research and experiments. In addition, the growing access to different fields of experimental biology, including cell biology, biotechnology, biochemistry, and genetics is expected to be opportunistic for the market during the forecast period.

Regional Insights

North America dominated the market and accounted for over 48.0% share of global revenue in 2021. Continuous efforts in the research and development of nanotechnology to explore potential applications in various end-use industries have boosted regional growth. Furthermore, growing emphasis on the use of magnetic beads in drug delivery and other biomedical is expected to have a positive impact on market growth during the forecast period.

The U.S. and Canada have an escalating growth in the bioresearch industry; this is further expected to drive the demand in the coming years. Various strategical collaborations and partnerships are being witnessed in Canada, marking the growth of bioresearch in the country. The healthcare industry is further expected to grow due to favorable government policies and escalate the market for magnetic beads further in the forecast period.

Europe accounts for the second largest market share in magnetic beads due to the increased demand for therapeutic and diagnostics solutions for the rising health concerns. Also, the rising rate of infectious diseases, mental health issues, and COVID-19 have increased the demand for healthcare facilities and related diagnostics centers to tackle and minimize the situation throughout the region.

The Asia Pacific region is expected to expand at a significant rate owing to the rapid growth of healthcare and diagnostics industries in China and Japan. Due to attractive government policies and regulations coupled with increasing expenditure in the medical industry. The growing need for the adoption of advanced diagnostic technologies due to the increasing prevalence of chronic diseases is expected to drive the magnetic beads to demand in the region.

Key Companies & Market Share Insights

The market for magnetic beads is characterized by the presence of limited vendors, resulting in a low level of concentration of vendors. The increasing demand for medical beads on account of their increasing use in the medical industry is fueling the growth. The key magnetic beads manufacturers are focused on increasing the penetration of medical beads in different medical product offerings.

A large number of magnetic beads manufacturers are focused on research activities to increase the applications of the product in diverse segments. In addition, there are various emerging technologies in the field of nanotechnology, which are expected to drive the demand in the coming years. For instance, magnetic beads are now used in bone repair and regeneration applications in the healthcare industry. Some of the prominent players in the global magnetic beads market include:

• Thermo Fisher Scientific Inc.

• Merck KGaA

• Bangs Laboratories Inc.

• Spherotech, Inc

• GenScript

• CardioGenics Inc.

• Bio-Rad Laboratories, Inc

• Miltenyi Biotec

• Ferrotec (USA) Corporation

• Eurofins Technologies

• Micromod Partikeltechnologie GmbH

• New England Biolabs

• Rockland Immunochemicals, Inc.

• MagQu Co. Ltd

Magnetic Beads Market Report Scope

Global Magnetic Beads Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global magnetic beads market based on application and region:

• Application Outlook (Volume, Kilograms, Revenue, USD Million, 2017 - 2030)

  • Bioresearch

  • In-vitro Diagnostics

  • Others

• Regional Outlook (Volume, Kilograms, Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa