|Microcarriers Market Size to Reach USD 2.9 Billion in 2028; One of the leading drivers for microcarriers market growth is rising prevalence of diseases where cell therapy can be effectively applied | Reports And Data|
|By GLOBE NEWSWIRE|
|Monday, 03 May 2021 07:37|
New York, May 03, 2021 (GLOBE NEWSWIRE)
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Increasing R&D expenditure by pharmaceutical and biotechnology companies and development of cell therapy industry are expected to drive market growth
Market Size – USD 1.4 Billion in 2020 Market Growth – 10.5% Market Trends – Expanding vaccine manufacturing industry and R&D investment
Global microcarriers market size is expected to reach USD 2.9 Billion in 2028, registering a CAGR of 10.5% over the forecast period, according to the latest report by Reports and Data.
Increasing demand for stem cell therapy coupled with rising prevalence of cancer across the globe will drive microcarriers market growth to a significant extent. One of the leading drivers for microcarriers market growth is rising prevalence of diseases where cell therapy can be effectively applied. The World Health Organization estimates that the global burden of cancer is predicted to rise to 27.5 million new cases and 16.3 million deaths by 2040. Increasing funding for the biopharmaceutical industry and technological advancements in microcarrier development have also contributed to growth of the market. For instance, researchers from the Singapore-MIT Alliance for Science and Technology (SMART) have developed a novel microcarrier for large-scale cell production and expansion that provides higher yield and cost-effectiveness than conventional methods while also reducing the number of steps needed in the cell retrieval process.
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The newly developed dissolvable gelatin-based microcarrier from SMART has shown to be effective for cell expansion in the treatment of a variety of ailments including bone and cartilage defects as well as body's rejection of foreign bone marrow and cells (called graft vs. host disease). In addition, the microcarriers' dissolvability removes the need for a second separation stage to remove the cells from the microcarriers. This simplifies cell manufacturing while also improving the ease with which therapeutic cells can be processed for use in patient products. Rising growing demand for cell therapies will propel the microcarriers market forward.
Various academic institutes and small-scale companies with limited budgets cannot afford to conduct cell biology research as it involves extensive R&D, which demands highest quality of equipment, media, reagents, and other products. Microcarriers are mainly used in stem cell biology, which is a key factor expected to restrain market growth. In addition, the need to comply with strict guidelines by regulatory bodies also is predicted to increase the cost of cell biology, thus creating additional challenges for microcarriers market growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/microcarrier-market
Some Key Highlights From the Report:
Some prominent players in the microcarriers market include:
Segments Covered in the Report:
For the purpose of this report, Reports and Data has segmented the global microcarriers market on the basis of product, application, end use, and region:
Product Outlook (Revenue, USD Billion, 2018–2028)
Application Outlook (Revenue, USD Billion, 2018–2028)
End Use Outlook (Revenue, USD Billion, 2018–2028)
Regional Outlook (Revenue, USD Billion, 2018–2028)
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