Microcarrier Market Opportunities, Business Forecast To 2028
The global Microcarrier Market size was valued at USD 1.9 billion in 2021 and is poised to grow at a significant CAGR of 11.6% during the forecast period 2022-28. The increasing demand for cell-based vaccines and mammalian cells in the biopharmaceutical industry and research institutes, and availability of private and public funding on cell-based research and advancements in technology drives the growth of the market. However, high cost of cell biology research and limitations in the production density hinders the growth of the market over the forecasted period. Following the World Health Organization’s (WHO) declaration of the epidemic as a pandemic, a combination of big pharmaceutical corporations and small start-ups rushed to create treatments and vaccinations. Companies have increased their research and development efforts in order to create vaccinations and treatments to combat the virus. Vaccine-related research in pharmaceutical and biotechnological firms, research centers, and academic and research institutes is regarded critical, and operations and output have been largely unaffected. Both the availability of financing and the demand for cell culture supplies, particularly microcarrier products, are likely to expand as research scales up.
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Increase in demand for consumables and continuous consumption of various media and reagents for various culture process and applications fuels the growth of the market over the forecasted period. Pharmaceutical and biopharmaceutical companies have registered highest market share among all the end users in the market and is forecasted to grow at a significant CAGR over the forecasted years.
The global Microcarrier Market segmentation:
1) By Product: Equipment, Consumables, and Microcarrier Beads.
2) By Application: Vaccine Manufacturing, Cell Therapy, and Others.
3) By End User: Pharmaceutical & Biotechnology Companies, Research Institutes, and Contract Research Organizations.
Europe accounted for larger revenue share in global microcarrier market with significant CAGR owing to presence of large number of market players in the market and increasing prevalence of cancer and rising number of venture capital investments and availability of technologically advanced products drives the growth of the market. North America and Asia Pacific expected to be the faster growing region in market over the forecast period.
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Key players in the microcarrier market are Thermo Fisher Scientific, GE Healthcare (A Subsidiary of General Electric Company), Corning, Sartorius AG, Danaher Corporation, Merck KGaA, Becton, Dickinson and Company, Eppendorf, Hi-Media Laboratories, Lonza Group AG
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