Microcarrier Market To Generate Revenue Worth $3,280.9 Million by 2030
- Published: October 2023
The global microcarrier market is projected to generate USD 3,280.9 million revenue by 2030, advancing at a CAGR of 11.8% during 2024–2030. This can be ascribed to the surging demand for cell-based vaccines, the increasing government and private funding for cell and gene therapy, the rising burden of infectious diseases, the growing R&D activities with the aim to provide therapeutic effective vaccine results, and the development of advanced technologies.
Moreover, cell and gene therapy represents a way of addressing the increasing prevalence of chronic diseases, and it provides great growth opportunities to providers that have been investing in developing and launching innovative cell and gene therapy products. In addition, governing bodies and private firms have started funding biotech companies and research institutes that actively participate in R&D activities of these products.
Furthermore, the surging demand for cell-based vaccines boosts the market growth. Earlier, the development of egg-based vaccines was unable to scale up, as it was a very time-consuming process. To overcome this problem, a dissolvable gelatin-based carrier is present in the market that can efficiently dissolve during the cell harvest step. As a result, high cell yield is obtained through direct dissolution.
Pharmaceutical and Biotechnology Companies Hold the Largest Share
The pharmaceutical and biotechnology companies category accounted for the largest revenue share in 2023. This is attributed to the increasing awareness regarding the benefits of cell-based vaccines, the rising supportive government regulatory approvals for these vaccines, the surging demand for monoclonal antibodies, and the increasing R&D activities by key players. Similarly, the increasing incidences of chronic and infectious diseases result in the surging demand for safe and effective medicines. In order to meet the demand, pharma and biotech companies are expanding their product portfolios.
In addition, with continuous development in bioprocess approaches and advanced equipment, pharmaceutical and biotechnology companies are trying their best to meet the demand for cell-based products. Moreover, the use of microcarriers during bioprocessing facilitates the culturing of cells and the manufacturing process, as well as improves yield.
Asia-Pacific Market To Witness the Fastest Growth
Geographically, the APAC market is expected to witness the highest CAGR, of about 12.6%, during the forecast period. This can be attributed to the surging demand for R&D activities, the rising prevalence of chronic diseases, the growing population, and the surging pharmaceutical sector in the region.
On the other hand, North America is expected to hold the largest revenue share in the coming years. This can be due to the rising awareness of personalized medicine, the presence of key players and government funding for R&D activities, and the existence of well-developed healthcare infrastructure in the region. For instance, the region has more than 500 companies that actively contribute to R&D activities of cell and gene therapy products.
The major players operating in the microcarrier market include Thermo Fisher Scientific Inc., Merck KGaA, Danaher Corporation, Sartorius AG, Cytiva, Eppendorf AG, HiMedia Laboratories, Corning Incorporated, and Lonza Group AG.