According to a new report Global Magnetic Beads Market, published by KBV research, The Global Magnetic Beads Market size is expected to reach $2 billion by 2026, rising at a market growth of 12.7% CAGR during the forecast period.
Magnetic beads offer faster results due to the versatility, which further boosts the preference for in-vitro diagnostic testing. This capability of magnetic beads has shifted the preference to in-vitro diagnostic testing, thereby propelling the market growth. In the last few years, there is a rising demand for in-vitro diagnostics in the medical & healthcare sector because of its features like reliability, versatility, and delivery quick outcomes.
Magnetic beads provide a high level of accuracy in the in-vitro diagnostic testing that made it popular among the sector and thus contribute to the increasing growth rate of the market. Along with that, they are effectively used as a replacement for colloidal gold particles in in-vitro diagnostics owing to the low price of the method as compared to others, which will fuel the growth of the magnetic beads market during the forecast period.
On the basis of region, North America emerged as a dominant region in the market with the highest revenue share in 2019. This region is popular for its best genetic research facilities across the glove and thus creates a huge demand for magnetic beads. Additionally, the huge demand for in-vitro tests in the U.S. and Canadian healthcare industry has surged the growth of the market. Asia-Pacific is estimated to witness a substantial growth rate during the forecast period due to the increasing healthcare & diagnostics sectors. The increasing adoption of in-vitro diagnostic technology along with the growing investments in the development of healthcare infrastructure is projected to surge the demand for the product in this region.
Full Report: https://www.kbvresearch.com/magnetic-beads-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thermo Fisher Scientific, Inc., Merck Group, Bangs Laboratories, Inc. (Polysciences, Inc.), Spherotech, Inc., Promega Corporation, Zeesan Biotech Co., Ltd., Vazyme Biotech Co., Ltd., Magbio Genomics, Inc., Calbiotech, Inc. (Erba Diagnostics Ltd. Group), and New England BioLabs, Inc.
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