The microcarrier market is estimated to generate USD 1,508.6 million in 2023, which will touch USD 3,280.9 million, advancing at an 11.8% compound annual growth rate, by 2030.
The growth of this industry is because of the increasing need for cell-based vaccines, the rising R&D activities in the biotech companies, and the surging government investment in research on cells and genes.
The consumables category, based on product, is dominating the industry. This can be because of the repetitive buying of huge quantities of reagents, beads, and media for research & development activities.
Moreover, among these, the microcarrier beads account for the largest share. Because of the vast surface area, beads can produce numerous cells and can be utilized in creating viruses for vaccine manufacturing.
North America is leading the industry, and it is likely to remain leading throughout this decade, generating USD 0.7 billion, by the end of this decade. This can be because of the increasing research on cell & gene therapy, the increasing R&D activities to produce therapeutic vaccines & drugs, and the surging occurrence of infectious ailments.
Furthermore, North America is known to be a center of advanced therapy as well as regenerative drugs, because of the existence of key pharmaceutical & biotech businesses.
APAC, on the other hand, is likely to progress at the fastest rate in the years to come. This will be because of the mounting populace, coupled with the rising cases of illnesses in the region.
Moreover, the regional industry is also driven by the increasing research-based projects to develop personalized drugs and new vaccines for effective disease treatment.
It is because of the growing requirement for cell-based vaccines and rising R&D activities in biotech companies, the microcarrier industry will continue to advance in the coming years.
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