DUBLIN, October 14, 2021--(BUSINESS WIRE)--The "Microcarrier Market - Market Size & Forecasting to 2030" report has been added to ResearchAndMarkets.com's offering.
The global microcarrier market in the COVID-19 period has been estimated to value USD 1,294.2 million in 2021 and it is projected to reach USD 2,119.4 million by 2030 at a CAGR of 5.6% during the forecast period.
However, without the COVID-19 impact, global microcarrier market was estimated to be USD 1,373.9 million in 2021 and reach USD 2,818.5 million in 2030, at a CAGR of 8.3%, during the forecast period. The growth of the microcarrier market is expected to be driven by the rising demand for cell-based vaccines and increasing R&D funding for cell and gene research by pharmaceutical and biotechnology companies. Technological advancement is another key factor that has been fueling the growth of the global microcarrier market.
Some of the important advantages offered by microcarriers include the ability to regulate cell growth conditions precisely in sophisticated bioreactors, reduction in the number of incubators required, and ease of scale-up. Due to such advantages, demand for microcarriers in the pharmaceutical and biotechnology industries has been growing, which in turn, will provide a major stimulus to the growth of the market.
Technological advancements like introducing new and complex material structures are increasing the efficiency of microcarriers to accelerate biopharmaceutical production. Furthermore, single-use technologies in microcarriers and modifying the structure of bioreactors to support the microcarrier process in drug development are augmenting the market growth during the projected period.
Cell-based vaccines have been found to be more effective, safer, and more efficacious than egg-based vaccines, as per the results of several clinical trials. Hence, demand for cell-based vaccines has been increasing, thereby driving the demand for microcarriers for large-scale commercial vaccine production. Furthermore, COVID-19 pandemic has accelerated vaccine production, and on-going research & clinical trials are boosting the market growth.
The microcarrier market is segmented into product, application, material type, end user, and regions.
Key Questions Answered:
How the microcarrier market is evolving?
What is driving and restraining factors for global microcarrier market?
How will each microcarrier submarket segment grow over the forecast period and how much sales will these submarkets account for in 2030?
How will market shares of each Microcarrier's submarket develop from 2021-2030?
Which microcarrier submarket will be the main driver of the overall market from 2021-2030?
How will political and regulatory factors influence regional microcarrier markets and submarkets?
Will leading national microcarrier broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
How will market shares of the national markets change by 2030 and which nation will lead the market in 2030?
Who are the leading players and what are their prospects over the forecast period?
How will the sector evolve as alliances form during the period between 2018 and 2030?
Increasing Preference for Single Use Technologies
High Cost of Cell Biology Research
Rising Demand for 3D Culture
Disadvantages Related to Microcarriers
Thermo Fisher Scientific Inc.
Getinge Group Inc.
Dickinson and Company Inc.
Tantti Laboratory Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bhekts
View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005620/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900