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“Rising demand for cell therapies to drive growth in the microcarriers market”
The microcarriers market is projected to reach USD 1.61 billion by 2023 from USD 1.20 billion in 2018, at a CAGR of 6.0%. Growth in this market is driven by the rising demand for cell-based vaccines, technological advancements, and the availability of public and private funding for cell-based research. On the other hand, factors such as the high cost of cell biology research and limitations in the production of high-density cell culture are likely to hinder market growth to a certain extent.
“The consumables segment is expected to grow at the highest CAGR during the forecast period”
Based on product, the microcarriers market is segmented into equipment and consumables. The equipment market is further segmented into bioreactors, culture vessels, cell counters, filtration devices, and accessories. The consumables market is subsegmented into media, reagents, and microcarrier beads. The consumables segment is expected to register the highest CAGR during the forecast period. The continuous consumption of various microcarrier beads, media, and reagents for different culture processes and applications is the key factor supporting the growth of this segment during the forecast period.
“The cell therapy segment is expected to register the highest CAGR during the forecast period”
By application, the market is segmented into vaccine manufacturing, cell therapy, and other applications. The cell therapy segment is expected to register the highest CAGR during the forecast period due to the increasing demand for stem cell therapies and the need for scaling-up the production of stem cells.
“China to register the highest growth rate in the medical device connectivity market during the forecast period”
The US accounted for the largest share of the microcarriers market. However, China is expected to grow at the highest CAGR in the forecast period. Increasing initiatives for discovery-based research activities are likely to boost the growth of the microcarriers market in China during the forecast period.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–38%, Tier 2–43% and Tier 3–19%
- By Designation – C-level–26%, Director Level–45%, Others–29%
- By Region – North America–41%, Europe–25%, Asia Pacific–20%, RoW–14%
The major players in the microcarriers market include Thermo Fisher Scientific (US), Merck KGaA (Germany), GE Healthcare (US), Danaher Corporation (US), Corning Incorporated (US), Lonza (Switzerland), Becton, Dickinson and Company (US), Eppendorf AG (Germany), HiMedia Laboratories (India), and Sartorius AG (Germany).
The report analyzes the microcarriers market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, and end user. The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies. This report provides market information on regional markets.
Reasons To Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the microcarriers market. This report analyzes the market by product, application, end user, and region
- Product Development/Innovation: Detailed insights on the upcoming trends and new product launches in the microcarriers market
- Market Development: Comprehensive information about the lucrative emerging markets for microcarriers
- Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the microcarriers market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and products, of the leading players in the microcarriers market