Dublin, Ireland, June 20, 2022 (GLOBE NEWSWIRE) -- The super magnetic particles market revenues were estimated at US$ 1.8 Bn in 2021 and is anticipated to grow at a CAGR of 15.5% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 6.7 Bn.
The emergence of the COVID-19 pandemic has created new opportunities for players in the super magnetic particle market. The demand for rapid testing kit requirements rose exponentially, especially in the year 2021, when the whole world suffered from the second wave of Covid-19. The daily testing was conducted on almost 2 million individuals. This resulted in huge demand for testing kits, creating a surge in the demand for super magnetic particles.
The typical diagnostic procedure for determining the presence of SARS-CoV-2 in patients with an active infection uses pharyngeal swabs, from which viral RNA is obtained using commercial kits, followed by reverse transcription and quantitative PCR detection. Commercial RNA extraction kits may be limited due to strong demand for testing, forcing the adoption of non-commercial approaches. Lab researchers provided a super magnetic particles RNA extraction technique that is carried out in 96-well plates and employs largely in-house reagents to enable large-scale testing.
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During the pandemic, the growing need for commercial RNA extraction kits has been a key driver for the super magnetic particles industry. Throughout the period, the creation of super magnetic particles for the detection of COVID-19 has fueled the global sales of super magnetic particles. For example, in 2022, North Rhine-Westphalia's Ministry of Economic Affairs, Development, Digital innovation, and Energy announced the sponsorship of the innovation initiatives with around US$8.1 Mn.
Key Takeaways from the Market Study
- Super magnetic particles market was valued at US$ 1.8 Bn in 2021. According to Fact.MR, Super magnetic particles Market revenue would increase 3.2X between 2022 and 2032, reaching roughly US$ 6.7 Bn in 2032.
- In terms of Type, the Immunoprecipitation accounts for the highest projected CAGR of over 14%.
- In terms of the Magnetic Core of super magnetic particles, Superparamagnetic is expected to account for the highest CAGR of 14.2% during the forecast period.
- North America is the dominant region in the super magnetic particles market with the highest market share of almost 46%.
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Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the super magnetic particles market are focused on R&D to produce innovative technological solutions.
- In February 2022, The Magnetic Nano-Particles Developer's Kit from Ferrotec Corporation is a series of solutions intended exclusively for the manufacture of microbeads used in in-vitro diagnostic applications. Ferrotec's MNP solutions rely on its capacity to increase the microbead surface area, which allows for improvements in reactivity, precision, and specificity for IVD applications such as immunoassays, bio-separations, and molecular testing.
- In January 2022, New England Biolabs and Singular Genomics Systems collaborated to affirm its NEBNext Kits, an offering for DNA and RNA samples, along with the G4 operating system. By utilizing a wide variety of input volumes from a wide range of sample types, NEBNext kits are created and quality-controlled to boost yields and library richness.
Market Segments Covered in Super Magnetic Particles Market Analysis
- 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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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the super magnetic particles market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the super magnetic particles market in terms of Type (Immunoprecipitation, Cells, Pathogenic Microorganisms, Nucleic Acids, peptides, Protein, and Others), Magnetic Core (super paramagnetic and Ferrimagnetic), Size (Less than 5μm, 5-20 μm, 20-40 μm, 40 μm and above), Application (Bioresearch, In-vitro Diagnostics, and Others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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