LONDON, April 03, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the magnetic beads market identifies rising investment in genetic and microbiology research activities is propelling the magnetic beads market forward. Magnetic beads' superparamagnetic properties make them suitable for a wide range of analytical applications. Magnetic beads are used in molecular biology to purify various types of biomolecules such as genomic DNA, plasmids, mitochondrial DNA, RNA, proteins, and other biomolecules. According to the World Health Organization, global health spending increased steadily between 2000 and 2018, reaching $8.3 trillion, or 10% of global GDP, in December 2020. Furthermore, as medical technologies advance, medical equipment prices rise in the health sector, and the ageing population increases demand for medical services, spending in various countries is expected to rise. As a result, rising investment in genetic and microbiology research is expected to propel the magnetic beads industry forward.
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The global magnetic beads market size grew from $1.9 billion in 2022 to $2.2 billion in 2023 at a compound annual growth rate (CAGR) of more than 14%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The magnetic beads market size is expected to grow to $3.8 billion in 2027 at a CAGR of more than 14%.
Major players in the magnetic beads market are Thermo Fisher Scientific Inc., Merck KGaA, Bangs Laboratories Inc., Spherotech Inc., GenScript, Bio-Rad Laboratories Inc., New England Biolabs, Rockland Immunochemicals Inc., Promega Corporation, Qiagen N.V., Zeesan Biotech Co. Ltd., CardioGenics Inc.
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Technological progress is a key trend that is gaining traction in the magnetic beads industry. To gain market share, the key players in the magnetic beads market are focusing on innovation and expanding their scope of application. For example, Thermo Fisher Scientific Inc., a US-based healthcare company specialising in the development and manufacturing of reagents, kits, consumables, and testing kits, will launch Dynabeads Technology in October 2022. Dynabeads technology, which consists of paramagnetic spherical polymer particles, is primarily used in messenger RNA (mRNA) synthesis and purification for manufacturing and vaccine development, as well as carboxylic acid for RNA purification solutions.
North America was the largest region in the magnetic beads market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic beads market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global magnetic beads market is segmented by magnetic core into superparamagnetic, ferrimagnetic; by type into cells, pathogenic microorganisms, nucleic acids, peptide, protein; by application into cell separation & expansion, ivd assay development, nucleic acid isolation, immunoprecipitation, antibody purification; by end-user into healthcare facilities, individual pathology labs, research labs.
Magnetic Beads Global Market Report 2023 by The Business Research Company provides insights on the magnetic beads market size, magnetic beads market segments, magnetic beads industry trends,
magnetic beads market demand drivers and restraints, major competitors’ market positioning, revenues and market shares.
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