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Microcarriers are beneficial as a support matrix for the growth of adherent cells. These microcarriers are placed in a bioreactor to help proliferate the growth of cells. Microcarrier dry powder, related equipment are in greater demand by the pharmaceutical companies as well as research institutes to carry out rigorous R&D activities. Growing burden of disease worldwide has boosted the R&D activities with an aim to provide therapeutically effective drugs/vaccines resulting in demand for microcarrier products. Thus, owing to the above mentioned factors, microcarrier market is expected to witness a strong growth during the forecast period.
The major factor driving the global microcarrier market is the growing need for therapeutically efficient vaccines and drugs have led to the increase in the product demand for microcarrier. This is expected to drive the market growth during the forecast period.
However, as cell culture requires extensive R&D investment for products such as reagents, media, cells lines etc., to yield accurate results. Availability of lesser budget to the academic & research institutes or companies results in lower adoption of cell culture product. This is expected to hinder the market growth.
Key Market Driver -
Growing Need for Efficient Vaccines and Drugs
Key Market Restraint -
Higher Investment for Cell Biology Research
By product, the global microcarrier market is segmented into microcarrier equipment and consumables. Based on application the market is segmented into cell & gene therapy, biopharmaceutical production, and others. Based on end user, the market is classified as academic & research institutes, pharmaceuticals & biotechnology companies, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global microcarrier market report includes Cytiva, Thermo Fisher Scientific, Sigma Aldrich, Corning Incorporated, Merck Inc, Eppendorf AG, Sartorius AG, Himedia Laboratories, and other prominent players.
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The global microcarrier market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global market in 2020. The leading position of the region is attributable to the rising R&D investments for cell and gene therapies and ramping of vaccine development & production amid the pandemic. Europe held the second position in the global market owing to the technological advancements in the R&D of the companies resulting in greater adoption of microcarrier products. Additionally, Asia Pacific is anticipated to have higher CAGR during the forecast period due to increasing prevalence of chronic disease leading to higher investments in the research such as stem cell, cell biology, etc. Latin America and Middle East & Africa are likely to experience a slower growth in the market owing to limited developments in the infrastructure and restrictions in the healthcare budget limiting R&D activities.
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