PUNE, India, July 3, 2018 /PRNewswire/ --
According to a new market research report "Microcarrier Market by Equipment (Bioreactor, Culture Vessels, Cell Counter, Filtration System), Consumables (Sera, Serum Free Media), Microcarriers (Cationic, Collagen, Protein coated), Application (Vaccines, Cell Therapy) - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 1.61 billion by 2023 from USD 1.20 billion in 2018, at a CAGR of 6.0%. Growth in this market is driven by the rising demand for cell-based vaccines, technological advancements, and the availability of public and private funding for cell-based research.
Browse 150 market data Tables and 34 Figures spread through 180 Pages and in-depth TOC on "Microcarrier Market"
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Media dominated the microcarriers consumables market in 2017
On the basis of products, the market is segmented into equipment and consumables. The consumables market is further segmented into media, reagents and microcarrier beads. In 2017, the media segment accounted for the largest share of the market. The dominant share of this segment can be attributed to the increased use of serum and basic media in various processes of microcarrier-based culture and the high cost of serum-free media.
By application, the vaccine manufacturing segment held the largest share of the Microcarriers Market in 2017
The Microcarriers Market is segmented by application into vaccine manufacturing, cell therapy, and other applications. In 2017, the vaccine manufacturing segment accounted for the largest share of the Microcarriers Market due to the high and growing demand for cell-based vaccines.
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Pharmaceutical and biotechnology companies were the largest end users of microcarriers in 2017
Based on end users, the Microcarriers Market is segmented into pharmaceutical and biotechnology companies research institutes, and CROs. In 2017, the pharmaceutical and biotechnology companies segment accounted for the largest share of the Microcarriers Market. The large share of this segment can be attributed to the growing use of single-use technologies in vaccine production, increasing demand for cell-based vaccines, widening application areas of microcarriers, and increasing pharmaceutical R&D expenditure.
Europe dominated the market in 2017
In 2017, Europe dominated the global Microcarriers Market. The large share of this regional segment can be attributed to factors such as the increasing incidence of cancer, growing number of venture capital investments, availability of technologically advanced products, and strategic expansion of biopharmaceutical companies in this region.
The key players in the Microcarriers Market are Thermo Fisher Scientific (US), Merck KGaA (Germany), and GE Healthcare (US), Danaher Corporation (US), Corning Incorporated (US), Lonza (Switzerland), Becton, Dickinson and Company (US), Eppendorf AG (Germany), HiMedia Laboratories (India), and Sartorius AG (Germany).
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