(PharmaNewsWire.Com, June 14, 2024 ) The report "Microcarriers Market by Product (Equipment (Single Use Bioreactor, SSB, Cell Counter, Culture Vessel, Filtration), Consumables (Media, Reagent), Beads (Collagen, Cationic), Application (Vaccine, Cell & Gene Therapy), End User - Global Forecast to 2028", is projected to reach USD 3.3 billion by 2028 from USD 2.0 billion in 2023, at a CAGR of 10.0% during the forecast period. growing adoption of microcarriers for cell-based vaccine production, and growing preference for single-use technologies are promoting the growth of microcarriers market. However, limitations in high-density cell culture production might limit the growth of microcarriers market.
The consumables segment accounted for the largest market share by product in the microcarriers market in 2022.
By product, the microcarriers market has been further categorized as consumables (media, reagents, microcarrier beads, and other consumables), equipment (bioreactors, culture vessels, filtration & separation equipment, cell counters, and other equipment). Consumables accounted for the major market share of microcarriers market in 2022. The large share of this segment can be attributed to the shift towards single-use technologies in cell culture and repetitive purchase of consumables in microcarrier cell cultures. Additionally, the growing R&D activities in the biotechnology sector are promoting the growth of the microcarriers market.
The biopharmaceutical production segment is expected to grow at a higher growth rate during the forecast period.
Based on application, the microcarriers market has been segregated into biopharmaceutical production, tissue engineering and regenerative medicine, and other applications. The biopharmaceutical production segment holds a major market share and is expected to grow at a higher rate during the forecast period 2023-2028. The significant portion of biopharmaceutical production dominance stems from the substantial commercial growth of leading pharmaceutical firms, rising regulatory endorsements for cell culture-oriented vaccines, and heightened requests for monoclonal antibodies.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the end user segment in the microcarriers market in 2022.
Based on end user, the microcarriers market has been segmented into pharmaceutical & biotechnology companies, contract research organizations & contract manufacturing organizations, academic and research institutes, and cell banks. In 2022, the pharmaceutical & biotechnology companies segment accounted for the largest share of the microcarriers market. The large share can be attributed to rising awareness about the benefits of cell-based vaccines, growing regulatory approvals for cell-based vaccines, and a focus on commercial expansion of cell-based vaccines.
The North America region accounted for the largest share of the microcarriers market in 2022.
The microcarriers market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). The technological advancements in the healthcare sector and growing demand for cell therapies in the North America region are the major driving factors for the growth of the microcarriers market. Additionally, increasing investments and fundings in pharmaceutical and biotechnology field is promoting the growth of microcarriers market in North America region.
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