PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1394563
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1394563
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) Billion |
Segments | Product, Application, and End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa |
The microcarriers market is projected to reach USD 3.3 billion by 2028 from an estimated USD 2.0 billion in 2023, at a CAGR of 10.0% during the forecast period. The growth of this market can be attributed to rising investments in cell & gene therapy research and growing technological advancements in single-use technologies.
"The consumables segment accounted for the largest share by product in 2022."
Consumables segment accounted for the largest share of product in the global microcarriers market in 2022. Various factors such as booming biopharmaceutical sector, and growing investments and government fundings for the advancement of technologies are driving the demand for consumables in the microcarriers market. Additionally, rising demand for high-quality reagents and media for cell therapies is promoting the growth of this market. Furthermore, the market share of the consumables market is expected to grow simultaneously with the growing cell-based research activities.
"The Asia Pacific region is growing in the microcarriers market during the forecast period of 2023-2028."
The Asia Pacific region is expected to grow at the highest growth rate during the forecast period. Various factors including growing adoption of advanced technologies and booming healthcare sector are propelling the growth of microcarriers market in the region. The rising investments and geographic expansion of microcarriers by prominent players are promoting the growth of the microcarriers market. For instance, in December 2022, Thermo Fisher Scientific opened an 860,000 square-foot facility in Hangzhou, China, which is the company's first single-use manufacturing site in the Asia-Pacific region. The facility offers clinical and commercial drug substance and drug product capabilities, housing Thermo Fisher's HyPerforma single-use bioreactors and associated single-use equipment to a 2,000 L scale, catering to the demand for biologics production capabilities from customers in the region.
This research report categorizes the microcarriers market by product (consumables (media (serum-based media, serum-free media, and other media), reagents, microcarrier beads (cationic beads, collagen-coated beads, protein-coated beads, untreated beads, and other microcarrier beads), and other comsumables) and equipment (bioreactors (single-use bioreactors and stainless-steel bioreactors), culture vessels, filtration and separation equipment, cell counters, and other equipment), application (biopharmaceutical production (vaccine production and therapeutic production), tissue engineering and regenerative medicine (cell and gene therapy, and other tissue engineering and regenerative medicine application), and other applications), and end user (pharmaceutical & biotechnology companies, contract resaerch organizations and contract manufacturing organizations, academic research institutes, and cell banks)
The report's scope encompasses detailed information regarding major influencing factors such as drivers, trends, challenges, and opportunities shaping the growth of the microcarriers market. A comprehensive analysis of key industry players has been conducted to offer insights into their business overview, products, key strategies, collaborations, partnerships, and agreements. The report also covers recent developments, including new product launches, mergers, and acquisitions, microcarriers market.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall microcarriers market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.