Magnetic Beads Market Size, Share & Trends Analysis Report By Application (Bioresearch, In-vitro Diagnostics), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), And Segment Forecasts, 2020 - 2027

Report Overview

The global magnetic beads market size was estimated at USD 1.89 billion in 2019. It is expected to expand at a compounded annual growth rate (CAGR) of 17.5% from 2020 to 2027. A rising preference for in-vitro diagnostic testing owing to their versatility and ability to provide quick results is expected to drive the market growth over the forecast period. Magnetic beads are synthesized from iron oxide nanoparticles such as magnetite (Fe3O4) nanoparticles with a size of around 20 nm to 30 nm. Magnetic beads in stark difference to common ferromagnets exhibit magnetic behavior only in the presence of an external magnetic field. As a result, these beads can be used without any concern about unwanted clumping.

In-vitro diagnostics emerged as the largest application segment in the U.S. magnetic beads market in 2019. Over the years in-vitro diagnostics have witnessed a greater demand in the medical and healthcare industry owing to their versatility, reliability, and ability to provide results in a shorter time.

Increasing investments in genetic & microbiology research activities are expected to provide a major boost to product demand over the forecast period. Their main applications include next-generation sequencing (NGS), polymerase chain reaction (PCR) testing, protein purification, and magnetic-activated cell sorting (MACS).

Toxicity Assessment of the product is expected to be one of the major challenges faced by the industry. The increasing research and production of nanoparticles have resulted in augmenting the need for more reliable and standardized methods for evaluating the toxicity of the nanoparticles under different exposure, biological, and dosing conditions.

Regulations play a vital role in the case of nanoparticle-enabled products such as magnetic beads. Effective methods of communication are required to be incorporated among developers, regulatory bodies, and researchers to enable the responsible transfer of research outcomes that are reliable to assess the toxicity of the nanoparticles, thereby ensuring product safety for medical and industrial applications.

Application Insights

The in-vitro diagnostics application segment led the market and accounted for more than 60% of the global revenue share in 2019. The in-vitro diagnostics are witnessing growing adoption in the healthcare sector owing to their greater accuracy levels. The product is an effective alternative to colloidal gold particles in in-vitro diagnostics owing to their comparatively lower costs and ability to generate faster results.

The in-vitro diagnostics are clinical tests that are used to analyze samples such as blood or tissue samples taken from the human body. These are widely used to detect various diseases, conditions, and infections inflicting the human body. Furthermore, scientists are also exploring the potential for use of in-vitro diagnostics in precision medicine applications.

The bioresearch application segment is anticipated to expand at a CAGR of 18.7% over the forecast period. Growing investments in genetic research activities across the world are expected to be the primary factor driving demand. Furthermore, growing finding for bioresearch research institutes is further expected to support the market growth in the upcoming years.

The other application segment includes the product used in magnetic resonance imaging (MRI), optimization of bioengineering processes, and increasing recovery rates of the oil wells among others. Among these, the MRI segment is expected to have a major impact on the market growth over the forecast period owing to its ability to produce tissue-specific signals and enhance the detection of malignant tumors and metastases.

Regional Insights

North America dominated the market and accounted for over 48% share of total revenue in 2019. North American region is home to some of the best genetic research facilities in the world and thereby generates a major demand for magnetic beads. Furthermore, the major demand for in-vitro tests from the U.S. and Canadian healthcare sector has further aided the market growth.

In Europe, the product demand is expected to register a CAGR of 17.9% over the forecast period. Rising health awareness has augmented the demand for diagnostics and therapeutic solutions in the region. Additionally, increasing product adoption for diagnosis and treatment of various medical conditions such as cancer and brain tumor is expected to drive product demand in the healthcare sector.

The European Union (EU) is incentivizing the research activities in the field of nanomaterials. NANOfutures, a European Technology and Innovation Platform (ETIPs) established by the EU is a multi-sectoral, cross-ETP platform. It is actively collaborating with major industries to aid the commercialization of various nanomaterials such as magnetic beads.

The Asia Pacific region is also expected to grow at a significant pace owing to the rapid growth of healthcare and diagnostics industries in the region. The growing adoption of in-vitro diagnostic technology coupled with the rising investments in the development of healthcare infrastructure is expected to drive the product demand in the region.

Key Companies & Market Share Insights

The market includes key players such as Dynal Inc.; Merck Estabor; Bangs Laboratories; Advanced Magnetics Inc.; and Cortex Biochem. The aforementioned companies are continuously engaged in R&D activities and the implementation of new technologies to have a competitive advantage and to serve various application requirements.

Several players position themselves in the market by offering a wide range of products with varied technical specifications. Companies are continuously engaged in optimization of their production technologies to cope up with customer demands about different application industries such as bioresearch, in-vitro diagnostics, and drug delivery systems.

Some prominent players in the global magnetic beads market include:

• Dynal Inc.

• Merck Estabor

• Bangs Laboratories

• Advanced Magnetics Inc.

• Cortex Biochem

• Promega

• Ferrofluidics

• Immunicon Corp

• Magnetically Delivered Therapeutics Inc.

• PureBiotech, LLC.

Magnetic Beads Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the magnetic beads market based on application, and region:

• Application Outlook (Volume, Kilograms; Revenue, USD Million, 2016 - 2027)

  • Bioresearch

  • In-vitro Diagnostics

  • Others

• Regional Outlook (Volume, Kilograms; Revenue, USD Million; 2016 - 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa