The global microcarriers market size was valued at USD 1318.8 million in 2019 and projected to reach USD 4045.8 million by 2027, growing at a CAGR of 13.57% during 2020-2027. It is due to the surge in demand for cell-based vaccines and therapies. Further, the increasing applications of microcarriers' technological advancements and the use of advanced devices in the field of 3D Culture, neuroscience, and tissue engineering will augment the growth of the global microcarriers industry in the forecast periods. Additionally, the increasingly wide range of microcarriers applications in various fields, including cell therapy, vaccines, and stem cell production, is expected to foster global market growth. Microcarriers have promising application prospects in the pharmaceutical and biopharmaceutical industries and have significant advantages in stem cell therapies due to cancer's rising incidence. With the development of single-use technology &bioreactors and the increase in people's medical consumption, expenditure will bolster global microcarriers' growth in the coming years. Moreover, the government's intervention for improving healthcare infrastructure and swelling investments in the R&D sector will stimulate the market share. Furthermore, microcarriers' benefits, such as the low risk of contamination and higher cell yield, will accelerate the growth of the global microcarriers industry.
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Product Overview in the Global Microcarriers Market
Based on the product, the global microcarriers market is segregated into equipment, consumables, and other microcarriers. Furthermore, the equipment segment is segmented into bioreactors, culture vessels, filtration systems, cell counters, and accessories. The consumables segment is further divided into Media, Reagents, and microcarrier beads. The consumables segment estimated to witness the highest growth over the analysis timeframe due to the repeated purchase of consumables for various research applications.
Application Overview in the Global Microcarriers Market
Based on the application, the global microcarriers market is classified into vaccine manufacturing, cell therapy, and other applications.
Vaccine manufacturing is expected to be the highest revenue share for microcarriers during the forecast period. The segment’s growth is primarily attributed to the rising prevalence of infectious diseases, increasing demand for monoclonal antibodies, and growing biopharpharmaceutical industries. Additionally, the microcarrier technology provides several advantages to biopharpharmaceutical industries in vaccine manufacturing, such as ease of scale-up, reduction in technician labor &storage or laboratory space, and the ability to precisely control cell growth conditions in sophisticated, computer-controlled bioreactors.
End-User Overview in the Global Microcarriers Market
Based on the end-user, the global microcarriers market is segmented into pharmaceutical and biotechnology companies, research institutes, and CROs.
The research institute segment will dominate the global microcarriers market by 2027. Due to the rising research in the field of cell biology, increasing demand for cell-based & gene-based therapies, and high adoption of advanced technology.
Region Overview in the Global Microcarriers Market
By geography, the global microcarriers market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2020-2026. It is owing to the rising demand for stem cell products, the increasing number of biopharpharmaceutical industries, and increasing R&D expenditure.
Global Microcarriers Market: Competitive Landscape
Companies such as Thermo Fisher Scientific, GE Healthcare, Merck KGaA, Corning Incorporated, Becton – Dickinson and Company, Danaher Corporation, Lonza, Sartorius AG, Eppendorf AG and HiMedia Laboratories are the key players in the global microcarriers market.
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