CHICAGO, March 22, 2021 /PRNewswire/ -- According to the new market research report "Microcarrier Market by Equipment (SUB, SSB, Cell Counter, Filtration), Consumables (Media, Reagent), Microcarrier (Cationic, Collagen), Application (Vaccine, Cell & Gene Therapy), End User (Pharma, Biopharma, CROs, CMOs) - Global Forecast to 2026", published by MarketsandMarkets™, the market is projected to reach USD 2.9 billion by 2026 from USD 1.7 billion in 2021, at a CAGR of 10.7% during the forecast period.
The Rising demand for cell-based vaccines, technological advancements, investments for cell and gene research, and growing preference for single-use technologies are the key factors supporting the growth of the market. However, the high cost of cell biology research, limitations in the production of high-density, and microcarrier-cell detachments issues are expected to hinder the overall growth rate.
Consumables accounted for the largest share of microcarriers market
Based on product, the market is segmented into consumables and equipment. Consumables dominated the market in 2020. The large share of this segment can be attributed to recent product launches and repeated purchase of high amount of media for various applications.
Biopharmaceutical Production segment accounted for the largest share of market
Based on application, the microcarriers market is categorized into biopharmaceutical production, cell and gene therapy, tissue engineering and regenerative medicine and other applications. The biopharmaceutical production application segment dominated the market in 2020. This is due to commercial expansion of major pharmaceutical companies and growing regulatory approvals for the production of cell culture-based vaccines.
The contract research organizations and contract manufacturing organizations is the fastest-growing end user segment of the microcarriers market
Based on end users, the market is segmented into pharmaceutical & biopharmaceutical companies, contract research organizations & contract manufacturing organizations, academic and research institutes and other applications.
The contract research organizations & contract manufacturing organizations segment is expected to grow at the highest rate during the forecast period owing to bioprocessing facility expansion by prominent market players and increasing investments in biopharmaceutical industry.
North America accounted for the largest share of the microcarriers market
The market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). In 2020, North America accounted for the largest share of the global market, followed by Europe. This market is primarily driven by strong government support for stem cell research, and presence of well-established pharmaceutical companies and recent regulatory approvals for biologics.
The prominent players operating in the microcarriers market are Thermo Fisher Scientific (US), Merck (Germany), Sartorius AG (Germany) and Danaher Corporation (US).
Single use Bioreactors Market by Product (System, Media Bag, Filtration Assemblies), Type (Stirred tank, Bubble column), Type of Molecule (MAbs, Vaccine), Cell Type (Mammalian, Bacteria), Application (R&D), End User (CROs & CMOs) - Global Forecast to 2025
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