Global Magnetic Beads Market Expected to Reach $4.1 billion by 2028

Overview and Scope

Magnetic beads refer to a type of device made up of superparamagnetic iron oxide particles as small as 20 to 30 manometers in size in which a functional carboxylic group covers an iron-oxide core, which then binds to nucleic acid and is used for separating biomolecules such as DNA and RNA quickly and effectively.

Sizing and Forecast

The magnetic beads market size has grown rapidly in recent years. It will grow from $2.18 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to covid-19 pandemic, increased healthcare expenditure, and rapid growth in the elderly population..

The magnetic beads market size is expected to see rapid growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to government initiatives for genetic and microbiological research, growth in the medical technology sector, and increasing prevalence of chronic diseases. . Major trends in the forecast period include developing new technological solutions, focus on the launch of magnetic beads modification services to enhance cell isolation, rna/dna extraction and protein purification, and introduce magnetic bead separation plates for cost-efficient nucleic acid testing. .

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Segmentation & Regional Insights

The magnetic beads market covered in this report is segmented –

1) By Type: Cells Microbes, Nucleic Acids, Proteins, Other Types

2) By End User: Healthcare Facilities, Individual Pathology Labs, Research Labs, Other End Users

3) By Magnetic Core: Superparamagnetic, Ferrimagnetic

4) By Application: Cell Separation And Expansion, Protein Sample Preparation And Protein Purification, IVD Assay Development, Nucleic Acid Isolation, Immunoprecipitation, Antibody Purification, Other Applications

North America was the largest region in the magnetic beads market in 2023. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the magnetic beads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

Government initiatives for genetic and microbiological research are expected to promote the growth of the magnetic beads market in the forecast period. Governments across various countries are implementing national plans for integrating advanced microbial genomics research which are expected to increase the demand for magnetics beads used in various genetics and microbiological research. For instance, in February 2021, the Australian Government Department of Health published a national plan for the integration of microbial genomics into the Australian public health system to improve national surveillance and response to communicable diseases, antimicrobial resistance and biothreat agents of clinical and public health importance. Therefore, supportive government initiatives for genetic and microbiological research are expected to promote the growth of the magnetic beads market.

Key Industry Players

Major companies operating in the magnetic beads market report are Thermo Fisher Scientific Inc, Merck KGaA, Bio-Rad Laboratories, Inc, Qiagen, Danaher Corporation, Miltenyi Biotec, Promega Corporation, Takara Bio Inc, Genscript Biotech Corporation, Bangs Laboratories Inc, Sinovac Biotech, Genor Bio Pharma, Shenzen Zhenhua Fu Electronics, Zhejiang Orient Gene Biotech Co. Ltd, Microgate, SunLord Electronics, Max Echo, Eurofins Abraxis, YAGEO Group, TAIYO YUDEN Co. Ltd, Alcon Scientific Industries, Teja Scientific Glass Works, Zeesan Biotech, Hemotune AG, NanoSyrinx, Pulmobiotics S. L, EnginZyme, Chain Biotech, Nuclera Nucleics, Phytoform Labs, Entelechon GmbH, Sloning BioTechnology GmbH, Siemens Healthineers Ukraine, TestLine Clinical Diagnostics s.r.o, Roche, Spherotech, CardioGenics, NEB, Rockland Immunochemicals

The magnetic beads market report table of contents includes: