Microcarriers Market Size Overview, Growth Opportunities and Forecast to 2027
Microcarriers Market 2021
Microcarriers Market 2020 currently holds a valuation of approximately USD 1.18 billion, says Market Research Future (MRFR) and is expected to advance at a rate of 5.9% from 2018 to 2023. We will provide COVID-19 impact analysis with the report, coupled with all the significant developments in the market following the coronavirus disease outbreak.
Top Impacting Factors and Barriers
The microcarrier market is significantly bolstered by the mounting demand for cell-based therapeutics and vaccines coupled with the growth of the biosimilar and biologics industry. The rise in R&D activities and the increasing spending on cell therapy researches could also favor the global market over the next few years. A majority of the biologics currently in the pipeline is targeting indications, which have a massive patient pool. This indicates biologics’ potential to enter various the non-traditional biologic disease segments, which can lead to better therapeutic efficacy.
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Major Key Players:
Some of the key players in the global microcarrier market are Thermo Fisher Scientific Inc., Lonza, GENERAL ELECTRIC COMPANY, Corning Incorporated, Sartorius AG, Danaher, Merck KGaA, Becton, Dickinson and Company, Eppendorf AG and HiMedia Laboratories.
Segmentation
Microcarriers industry can be categorized as product type, application, and end-user.
The product types considered in the MRFR study are equipment as well as consumables.
Depending on application, the market caters to biologics manufacturing, cell therapy, vaccine manufacturing, and more.
Research institutes, contract research organizations and pharmaceutical and biotechnology companies are the key market end-users mentioned in the report. Pharmaceutical and biotechnology companies are the most significant end-users in the microcarriers industry, on account of the rising utilization of single-use technologies during vaccine production and the expanding application scope of microcarriers. Research institutes segment could grow at the fastest speed due to the strong demand for research and development with regard to life threatening diseases.
Regional Analysis:
The market in the Americas is expected to dominate the global Microcarrier market during the forecast period owing to the increasing incidence of cancer and other chronic diseases, a well-developed healthcare sector and growing number of venture capital investments. According to data published by Centers for Disease Control and Prevention (CDC), 1,633,390 new cases of cancer were reported in the year 2015, and 595,919 people died of cancer in the United States in the same year. The European market is expected to be the second-largest due to government funding and support of the healthcare sector coupled with the strategic expansion of biopharmaceutical companies in this region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to growing disposable income and rising demand for cell-based vaccines. The market in the Middle East and Africa is likely to account for the smallest share of the global microcarrier market. The market growth in this region can be attributed to the growing government initiatives.
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