Increasing R&D expenditure by pharmaceutical and biotechnology companies and development of cell therapy industry are expected drive market growth
Global microcarrier market size is expected to reach USD 2.9 billion by 2028 and register a CAGR of 10.5% over the forecast period, according to the latest report by Reports and Data.
Market revenue growth is driven by key factors such as increasing R&D expenditure by pharmaceutical and biotechnology companies and rapid developments across cell therapy industry.
Increasing demand for stem cell therapy coupled with rising prevalence of cancer across the globe is projected to drive microcarrier market growth. One of the leading drivers for microcarrier market growth is rising prevalence of diseases where cell therapy can be effectively applied. WHO estimates that the global burden of cancer is predicted to rise to 27.5 million new cases and 16.3 million deaths by 2040. Increasing funding for the biopharmaceutical industry and technological advancements in microcarrier development have also contributed to growth of the market. For instance, researchers from the Singapore-MIT Alliance for Science and Technology (SMART), have developed a novel microcarrier for large-scale cell production and expansion that provides higher yield and cost-effectiveness than conventional methods while reducing the number of steps needed in the cell retrieval process.
The newly developed dissolvable gelatin-based microcarrier from SMART has shown to be effective for cell expansion in the treatment of a variety of ailments including bone and cartilage defects as well as body's rejection of foreign bone marrow and cells (called graft vs. host disease). In addition, the microcarriers' dissolvability removes the need for a second separation stage to remove the cells from microcarrier. This simplifies cell manufacturing while also improving the ease with which therapeutic cells can be processed for use in patient products. The growing demand for cell therapies will propel the microcarrier market forward.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Thermo Fisher Scientific, Corning, Merck, Sartorius, Danaher Corporation, Becton, Dickinson And Company, Eppendorf Ag, Lonza Group, Getinge Ab, Chemometec, Cesco Bioengineering, Himedia Laboratories, Esco Vaccixcell, Stemcell Technologies, Solida Biotech, Stobbe Pharma, Distek, Celltainer Biotech, G&G Technologies, and Tantti.
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Microcarrier market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Product Outlook (Revenue, USD Billion, 2018–2028)
- Consumables
- Media
- Sera/Serum-based Media
- Serum-free Media
- Other Media
- Reagents
- Microcarriers
- Collagen-coated Microcarriers
- Cationic Microcarriers
- Protein-coated Microcarriers
- Untreated Microcarriers
- Other Microcarriers
- Equipment
- Bioreactors
- Single-use Bioreactors
- Stainless-steel Bioreactors
- Culture Vessels
- Filtration and Separation Equipment
- Cell Counters
- Other Equipment
Application Outlook (Revenue, USD Billion, 2018–2028)
- Biopharmaceutical Production
- Vaccine Production
- Therapeutic Protein Production
- Cell and Gene Therapy
- Tissue Engineering and Regenerative Medicine
- Other Applications
End Use Outlook (Revenue, USD Billion, 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations & Contract Manufacturing Organizations
- Academic and Research Institutes
- Cell Banks
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