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Magnetic Beads Market Size

Report ID: GMI4925
Published Date: Jan 2021
Report Format: PDF

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Magnetic Beads Market Size

Magnetic Beads Market size valued at USD 1.5 billion in 2020 and is poised to grow at over 13.3% CAGR between 2021 and 2027. Growing funding for cell-based research through private as well as public companies and government bodies will propel the market growth.

Magnetic Beads Market

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Also, rising focus of numerous market players on launching innovative and highly efficient magnetic beads will drive the overall market demand. Additionally, the COVID-19 pandemic has proven beneficial for the market expansion as the generally considered basic accessory of research labs, magnetic beads, have seen high surge in its use and thus in its demand.

In-vitro diagnostic field is evolving rapidly and is currently a dynamic market of healthcare sector. Magnetic beads are an important component of DNA/RNA extraction kits and sample preparation protocols in research laboratories. These magnetic beads act as a solid phase for attachment during the separation and purification processes. This is expected to propel the magnetic beads industry growth.

Magnetic Beads Market Report Attributes
Report Attribute	Details
Base Year:	2020
Magnetic Beads Market Size in 2020:	1.5 Billion (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	13.3%
2027 Value Projection:	4.5 Billion (USD)
Historical Data for:	2016 to 2020
No. of Pages:	181
Tables, Charts & Figures:	212
Segments covered:	Type, Application, End-use and Region
Growth Drivers:	Increasing application of magnetic beads in medical field Rising preference for in-vitro diagnostic testing Increasing funding for cell-based research by biotechnology companies and government bodies across the globe Technological advancements in magnetic beads market
Pitfalls & Challenges:	High cost associated with genetic research in developing countries

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Major in-vitro diagnostic market players use magnetic particles in their complete automated analysers. The search for an improved medical care at lower costs is reshaping the entire healthcare industry. Use of high-quality magnetic beads in clinical sample preparation significantly increases the yield and concentration of target biomolecule. This helps in achieving more accurate results in easy and fast way.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size for magnetic beads was over USD 1.5 billion in 2020 and will grow at a CAGR of more than 13.3% through 2027 owing to higher funding from the government, private and public companies for cell-based research.

The research labs segment accounted for more than 37.5% industry share in 2020, driven by soaring research studies across the world to find new diagnostics and therapeutics methods.

The immunoprecipitation segment is likely to grow at 14% rate in the coming years owing to the rising usage of magnetic beads in nucleic acid isolation.

Driven by rising cases of chronic diseases, North America market share is set to grow at a CAGR of 13% between 2021-2027.