Chicago, April 13, 2023 (GLOBE NEWSWIRE) -- The microcarrier industry is expected to grow significantly in the near future. This is due to the increasing demand for automation and miniaturization in various industries. Microcarriers are used in a variety of applications ranging from cell culture to drug delivery. The growing demand for automated and miniaturized products is expected to drive the growth of the microcarrier industry. Additionally, the increasing demand for specialized products and services is also expected to contribute to the growth of the microcarrier industry.
Microcarrier market in terms of revenue was estimated to be worth $1.7 billion in 2021 and is poised to reach $2.9 billion by 2026, growing at a CAGR of 10.7% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Rising demand for cell-based vaccines, government funding and venture capital investments for cell-based research and growing preference for single-use technologies are the key factors supporting the growth of the market. However, the growth of the market is likely to be restrained by factors such as the high cost of research and isseus in cell detachment from microcarriers.
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Microcarrier Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $1.7 billion |
| Estimated Value by 2026 | $2.9 billion |
| Growth Rate | Poised to grow at a CAGR of 10.7% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Rising monoclonal antibody production |
| Key Market Drivers | Rising demand for cell-based vaccines |
Microcarriers market by product is categorized into major two categories consumables and equipment. Consumables dominated the market in 2020. The large share of this segment can be attributed to new product launches by prominent market players and rising demand for media and reagents for research applications. Consumables are expected to register the highest CAGR during the forecast period due to rise in demand for specialty media and increase in number of research activities for biopharmaceutical products.
On the basis of application, the microcarriers market is categorized biopharmaceutical production, cell & gene therapy, tissue engineering & regenerative medicine, and other applications. The biopharmaceutical production application segment dominated the market in 2020. This segment is also projected to witness the high growth during the forecast period. The growth of this segment is attributed to the commercial expansion of major pharmaceutical companies and increasing demand for monoclonal antibodies.
Based on end users, the microcarriers market is segmented into pharmaceutical & biotechnology companies, contract research organizations (CROs) & contract manufacturing organizations (CMOs), academic and research institutes, and cell banks. The pharmaceutical & biotechnology companies segment held largest maekt share in 2020, owing to rising awareness about the benefits of cell-based vaccines and growing regulatory approvals for cell-based vaccines.
The Asia Pacific market is expected to witness the highest growth during the forecast period, primarily due to geographical expansion by prominent market players in emerging Asian economies and increased vaccine production capabilities by major vaccine manufacturers.
Key Market Players:
The prominent players operating in the microcarriers market are Thermo Fisher Scientific (US), Merck (Germany), Sartorius AG (Germany) and Danaher Corporation (US).
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Hypothetic Challenges of Microcarrier Market in Near Future:
- Increasing regulatory requirements: As the microcarrier market continues to grow, regulatory agencies are likely to impose more stringent guidelines and regulations on the design, manufacture, and sale of microcarriers to ensure safety and efficacy.
- Competition from other cell culture products: As the microcarrier market continues to expand, competitors such as scaffolds, hydrogels, and 3D bioprinting will become more viable alternatives for cell culture. Companies may need to invest in new technologies and strategies to remain competitive.
- Challenges in scaling up production: As demand for microcarriers increases, companies may struggle to keep up with production and meet customer demands. Companies may need to invest in new production technologies and strategies to ensure they can meet customer needs.
- Increasing cost of raw materials: As demand for microcarriers increases, the cost of raw materials such as plastic, glass, and ceramic may also increase. Companies may need to invest in new cost-effective materials and strategies to ensure the affordability of their products.
- Growing market for “green” technologies: As consumers become more aware of their environmental impacts, companies may need to invest in more sustainable alternatives for microcarrier production. This could include using biodegradable materials or renewable sources of energy.
Top 3 Use Cases of Microcarrier Market:
- Cell Culture: Microcarriers are used to increase the growth of cells in culture by providing a larger surface area for cell attachment. They can be used in applications such as vaccine production, biopharmaceuticals, and stem cell research.
- Drug Discovery: Microcarriers provide an efficient way to analyze biological data collected from different cell types. This data can be used to discover new drugs and therapies.
- Biosensors: Microcarriers are used to develop biosensors that can detect the presence of specific molecules in samples. These sensors can be used in a variety of applications from medical diagnostics to environmental monitoring.
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Recent Developments:
- In January 2021, Thermo Fisher Scientific (US0 launched 500 L HyPerforma DynaDrive SUB is designed for optimal cell culture performance.
- In October 2020, Cytiva announced its plans to open a 80,000-ft2 manufacturing facility in Shrewsbury, Massachusetts, by 2020-end. The company also invested a sum of USD 500 million in expanding its global manufacturing capacity.
- In September 2020, Thermo Fisher Scientific opened a new Bioprocessing Collaboration Center (BCC) in St. Louis, Missouri (US) to provide single-use bioprocess technology and pharma services to biopharmaceutical companies in the US.
- In April 2020, Sartorius (Germany) acquired the SoloHill portfolio of Danaher Corporation, a part of the Danaher life science business covering microcarrier technology, and expanded its microcarrier product portfolio.
- In March 2020, Danaher acquired the Biopharma business from General Electric Company’s Life Sciences division and renamed it Cytiva.
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