According to a new report published by Allied Market Research, titled, "Magnetic Beads Market by Magnetic Core, Size, and Application: Opportunity Analysis and Industry Forecast, 2020-2027,"the global magnetic beads market was valued at $1.1 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 12.1% from 2020 to 2027.
Magnetic bead is an efficient tool that is used to generate stirring action after placing it in appropriate liquid solution under magnetic stirrer plate. Isolation of DNA or RNA is an utmost important process in biochemical and diagnosis process. Acute respiratory infections (ARIs) are increasing mortality and morbidity rate among children. Thus, magnetic beads are widely used for extraction of DNA and RNA sample that helps to analyze ARIs and help to reduce the risk associated with the infection. In addition, downstream applications such as detection, cloning, sequencing, hybridization, and cDNA synthesis are carried out using magnetic beads. Clinical laboratory segment are widely adopting magnetic beads for analyzer kits that help to analyze viral DNA and RNA from serum, plasma, and other body fluids efficiently. In addition, nucleic acid properly bind on the surface of these beads and efficiently remove impurities such as salts and metabolites. Furthermore, magnetic beads that are used in biomedical applications are made up of magnetic material that is encapsulated in polymer shell.
The biomedical sector uses magnetic beads for various applications such as clinical diagnosis, drug targeting, cell isolation, nucleic acid purification, and detection. In addition, current market trend of using solid phase magnetic beads for isolation and detection of biomolecules acts as the major growth factor of the global market. Utilization of magnetic beads in immunoassays enhances detection sensitivity and improves flow of enzyme substrates. Hence, the global magnetic beads market size is expected witness steady growth during the forecast period. On the other hand, protein and cellular purification is a time-consuming process, and requires additional accelerators such as addition of fine particles, which, in turn, adds to extra cost, thus restraining the growth of the global magnetic beads market.
Several cell isolation applications such as positive cell isolation, negative cell isolation, depletion, automation, and mouse cell isolation are predicted to offer new opportunity in the global market. this is attributed to the fact that magnetic beads efficiently targets cells and cells are attracted efficiently toward the magnet. This enhances the cell isolation process and in turn helps to separate beads easily.
The global magnetic beads market is segmented by magnetic core, size, application, and region.
On the basis of magnetic core, the global market is categorized into ferrimagnetic and superparamagnetic. The ferrimagnetic segment garnered the largest share in 2019, and is predicted to reach $2.6 billion by 2027, growing at a CAGR of 12.1%. However, the superparamagnetic segment is estimated to grow at a CAGR of 12.6% during the forecast period.
Depending on size, the global market is fragmented into less than 5um, 5-20 um, 20-40 um, and 40 um &above. In 2019, the less than 5um segment led the market, in terms of share, and is predicted to reach $1.3 billion by 2027, whereas the 5-20 um sized segment is predicted to grow at a CAGR of 11.9% during the forecast period.
The major applications covered in the study include next-generation sequencing (NGS), biomolecules separation& purification, molecular & immunodiagnostics, and others such as magnetic activated cell sorting and PCR. Biomolecules separation and purification application accounted for the largest revenue in 2019, and is expected to grow at the highest CAGR during the assessment period.
Region wise, the magnetic beads market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific magnetic beads market is projected to grow at the highest CAGR of 13.6% during the forecast period, accounting for 37.8% magnetic beads market share by 2027.
The global magnetic beads market profiles the leading players that include Thermo Fisher Scientific Inc., Advanced BioChemicals (ABC), Promega Corporation, Zeesan Biotech Co. Ltd., New England BioLabs Inc., Calbiotech, MagBio Genomics, Teja Scientific Glass Works, Vazyme Biotech Co. Ltd., and Alcon Scientific Industries.
Key findings of the study
- Region wise, North America accounted for the largest share in 2019,whereas Asia-Pacific is predicted to register the highest CAGR during the forecast period.
- By size, the less than 5um segment garnered the highest share in 2019, and it is anticipated to grow at a significant CAGR.
- On the basis of magnetic core, the superparamagnetic segment is anticipated to exhibit the highest CAGR.
- Depending on application, the biomolecules segmentdominated the market, in terms of share, in 2019, whereas the next-generation sequencing application is predicted to grow with highest CAGR in the near future.
- Countries such as China, the U.S., Germany, and India, are emerging as investment-centric economies.
- The outbreak of the COVID-19 pandemic hadpositive impact on the growth trajectory of this market.
Impact Of Covid-19 On The Global Magnetic Beads Market
- The COVID-19 pandemic has negatively affected the global economy and is subsequently shrinking the GDP in global economies, thereby changing consumer spending patterns globally.
- Large-scale testing of coronavirus infection by using RT-qPCR and RT-LAMP requires the use of using magnetic beads for testing COVID-19 cases, and these magnetic beads are made up of in-house reagents and are performed in 96-well plates supporting large-scale testing.
- Current standard testing for SARS-CoV-2 detection is based on viral RNA extraction method. In addition, other test methods such as nucleocapsid (N), envelope protein (E), S glycoprotein (S), or RNA-dependent RNA polymerase (RdRp) are used for detection of large-scale samples. Thus, the need for commercial RNA extraction kits is increasing significantly, which, in turn, has augmented the demand for magnetic beads during the pandemic.
- Product development of magnetic beads for detection of COVID-19 infection has pushed the demand for magnetic beads during this global crisis. For instance, in October 2020, Now Norwegian University of Science and Technology developed a highlysensitive and efficient test method for COVID-19 detection that uses magnetic nanoparticles to extract viral RNA.