Microcarriers Market Led by the Americas
Microcarriers are sterile, ready-to-use systems which are used with bioreactors to expedite cell attachment and cell production methods. The global microcarriers market Size is expected to reach a market valuation of USD 1.18 Bn at a CAGR of 5.9% over the forecast period of 2018-2023, projects Market Research Future (MRFR) in an in-depth study.
Growing demand for cell-based vaccine is a key factor enhancing the growth of the global Microcarriers Market Growth. Cell culture techniques have gained widespread acceptance in the study of cell function, cell differentiation, and cell structure are vital tools in the production of biological materials such as vaccines, hormones, interferons, enzymes, antibodies, and nucleic acids. Microcarrier technology is extensively leveraged by research institutes and life science companies for various cell-based applications.
Microcarriers allow for convenient surface for the growth of adherent cells and facilitate increasing the yield of cells products. They are also applied to isolation of cells, studies on differentiation and cell function, harvesting mitotic cells, membrane studies and others. Advances in media formulation, improvement in processing technologies, and progress in cell characterization techniques have helped the global microcarriers market move ahead. Moreover, technological advancements in microcarriers has resulted in increased productivity which ultimately leads to decreased cost which is fostering the growth of the global microcarriers market.
Growing popularity of cell harvesting in drug development and stem cell therapy is expected to induce high demand within the microcarriers market. Availability of funds for R&D purveyed by funding from both public and private sector are other factors contributing to the growth of the market. However, stringent regulatory norms and restrictions on the production of high-density cell culture is likely to impede the growth of the global microcarriers market.
Corning Incorporated, Sartorius AG, Merck KGaA, HiMedia Laboratories, Danaher, GENERAL ELECTRIC COMPANY, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Lonza , and Eppendorf AGv are the eminent players in the global microcarriers market.
The global microcarriers market has been segmented based on product type, application, a nd end user.
By product type, the global; microcarriers market has been segmented into equipment, and consumables. the equipment segment has been further segmented into bioreactors, culture vessels, cell counters, filtration systems, and other equipment.
The consumables segment has been further segmented into media, reagents, and microcarrier beads. The media sub-segment has been further segmented into serum-based media, serum-free media, and other media. The microcarrier beads sub-segment has been further segmented into cationic microcarriers, collagen-coated microcarriers, protein-coated microcarriers, and other microcarrier beads.
By application, the global microcarriers market has been segmented into vaccine manufacturing, cell therapy, biologics manufacturing, and other applications.
By end user, the global microcarriers market has been segmented into pharmaceutical and biotechnology companies, research institutes, and contract research organizations. The pharmaceutical and biotechnology companies’ segment is leading the market. heightened use of single-use technologies in vaccine production and expanding application area of microcarriers in the pharmaceutical and biotechnology companies can be credited for the growth of the market. The research institutes segment is expected to be the fastest growing segment due to increased life-threatening diseases R&D activities.
By region, the global microcarriers market has been segmented into the America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
High occurrence of cancer and other chronic diseases along with a robust healthcare sector is supporting the growth of the Americas market. Increase in number of venture capital investment and favorable reimbursement landscape are other factors boosting the market growth.
Europe follows the Americas closely and is the second largest market for microcarriers. the growth of the Europe market can be attributed to the availability of funds for R&D and accessibility of technologically advanced products. Moreover, various biopharmaceutical companies in the region are entering into strategic partnerships which is expected to augur well for the growth of the market.
APAC market is anticipated to grow at a relatively faster pace than owing to the presence of a vast patient pool, growing demand for cell-based vaccines, and the availability of funds for cell-based research.
The MEA market accounts for the minimum share of the global market where the Middle East accounts for the majority share of the market. Increased government initiatives for the development of the healthcare sector is favoring the growth of the market.
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