According to the report, global microcarrier market was valued at approximately USD 1.17 billion in 2017 and is expected to reach around USD 1.75 billion by 2024, growing at a CAGR of 6.2 % between 2018 and 2024.
New York, NY, Oct. 26, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Microcarrier Market by Product (Equipment and Consumables), by Application (Vaccine Manufacturing, Cell Therapy, and Other), and by End-User (Pharmaceutical and Biotechnology Companies, Research Institutes, and Contract Research Organizations): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024”. According to the report, global microcarrier market was valued at approximately USD 1.17 billion in 2017 and is expected to reach around USD 1.75 billion by 2024, growing at a CAGR of 6.2 % between 2018 and 2024.
A microcarrier is a supporting matrix used commercially for the growth of adherent cells in bioreactors for biologics production and vaccine manufacturing. The animal cell culture industry is constantly being developed to increase productivity and decrease the production costs of animal cell products. As animal cells have a relatively low productivity, a large amount of culture supernatant is needed for the final product. Microcarriers have many advantages over achieving these goals. Microcarriers allow exceptional scale-up of product and allow cells to grow in three dimensions at high densities which stabilize the cell population and decrease the need for external growth factors.
Browse through 51 Tables & 12 Figures spread over 110 Pages and in-depth TOC on “Global Microcarrier Market Size & Share 2018: By Type, Trends, Industry Growth, Segments, Analysis and Forecast, 2018 – 2024”.
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The microcarrier market is expected to witness a robust growth in the coming years. The growing demand for mammalian cells in the biopharmaceuticals industry and research institutes is accounting for the rapid growth of the global microcarrier market. Cell harvesting is widely being integrated into all aspects of stem cell therapy, drug manufacturing, and drug discovery. The wide acceptance and application of microcarrier in biopharmaceutical and research institutes are fostering the growth of cell harvesting market. The number of challenges such as high cost and slow penetration of microcarriers in developing countries is restraining the growth of the microcarrier market. However, technological advancements are expected to offer lucrative growth opportunities for the business in the forecast period.
Product segment is classified into equipment and consumables. The equipment segment is further segmented into bioreactors, culture vessels, filtration systems, cell counters, and accessories. Sub-segments of the consumables segment are media, reagents, and microcarrier beads. Microcarrier beads are further segmented into cationic microcarriers, collagen-coated microcarrier, and other. New microcarriers have been introduced in the market recently. Corning Incorporated introduced microcarriers such as dissolvable microcarriers for enhancing cell expansion on the large-scale. These dissolvable microcarriers are suitable for more efficient and gentle cell harvesting than those offered by traditional microcarriers. The application segment in the global microcarrier market is divided into vaccine manufacturing, cell therapy, and other. The vaccine manufacturing dominated the application segment due to its escalating demand across the biopharmaceutical sector. The segment captured a major chunk of market share in terms of revenue in 2017. On the basis of the end-user segment, the market is divided into pharmaceutical and biotechnology companies, research institutes, and CROs.
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North America emerged as the largest market for microcarriers accounting for more than 40% of the overall microcarrier market share in the year 2017. North America microcarrier market has a huge growth potential as the region has a large number of pharmaceutical companies along with private and government research facilities. Growing demand for tissue-engineered & stem cell products and increased number of stem cell transplantations are driving the business growth in this region.
Europe was the second largest regional market and is expected to show strong growth during the forecast period. Germany, France, and the UK accounted for the largest revenue share in microcarrier market in Europe. The major factors boosting the microcarrier market growth include the presence of advanced research institutes, increased capital investment for cell-based research, and increasing application of microcarriers in biologics production.
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In the past few years, there have been a number of bio-similar product approvals seen in Europe. The leading biologics and biosimilars market players such as Roche’s and Abbvie’s are launching new products and getting product approvals. Moreover, the year 2018 may witness the European approval of Amgen’s biosimilars product Neulasta, an area of development that has been plagued by setbacks in recent years. With growing pipeline of biosimilars products in Europe, 2018 is set to be a year for several biosimilars approvals and launches in the region.
The Asia Pacific is an emerging market with greater opportunity for growth and is predicted to become a destination of investment for corporate investors in the forecast period. In the Asia Pacific, China, India, and Japan are the fastest growing markets. Asia Pacific microcarrier market is grasping attention due to the rapid expansion of the biopharmaceutical industry in countries such as China and India. These countries are becoming an industry hub for biosimilars manufacturing and are expected to lead the global microcarrier market with high CAGR in the forecast period.
Browse the full “Microcarrier Market by Product (Equipment and Consumables), by Application (Vaccine Manufacturing, Cell Therapy, and Other), and by End-User (Pharmaceutical and Biotechnology Companies, Research Institutes, and Contract Research Organizations): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024” report at https://www.zionmarketresearch.com/report/microcarrier-market
Latin America and the Middle East and Africa are emerging markets growing at a slow pace due to lack of product awareness in these regions. The thriving healthcare industry in Brazil and Rest of Latin America is anticipated to fuel the Latin America market growth. In the past few years, significant developments are seen in the healthcare sector in the Middle East and Africa. Growing investments in the pharmaceutical industry in the Middle East and Africa countries are expected to foster the microcarrier market growth during the forecast period.
Some of the key players in microcarrier market include Thermo Fisher Scientific, Merck KGaA, GE Healthcare, Danaher Corporation, Corning Incorporated, Lonza, Becton, Dickinson and Company, Eppendorf AG, HiMedia Laboratories, and Sartorius AG, among others.
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This report segments the global microcarrier market as follows:
Global Microcarrier Market: Product Segment Analysis
- Culture Vessels
- Filtration Systems
- Cell Counters
- Microcarrier Beads
- Cationic Microcarriers
- Collagen-coated Microcarriers
Global Microcarrier Market: Application Segment Analysis
- Vaccine Manufacturing
- Cell Therapy
Global Microcarrier Market: End-User Segment Analysis
- Pharmaceutical and Biotechnology Companies
- Research Institutes
Global Microcarrier Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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