Asia Pacific Microcarriers Market Revenue to cross US$ 991.23 million by 2030

At 13.3% CAGR, Asia Pacific Microcarriers Market is Speculated to be Worth US$ 991.23 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific microcarriers market was valued at US$ 366.14 million in 2022 and is expected to reach US$ 991.23 million by 2030, registering a CAGR of 13.3% from 2022 to 2030. Strategic initiatives and innovative products by microcarrier manufacturers and infectious diseases and increasing popularity of outsourcing cell and gene therapy manufacturing are among the critical factors attributed to the Asia Pacific microcarriers market expansion.

Companies operating in the microcarriers market focus on strategic developments such as collaborations, expansions, agreements, partnerships, and new product launches, which help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a larger than existing customer base. A few of the noteworthy developments in the microcarriers market are mentioned, In October 2023, Kuraray Co., Ltd. developed PVA hydrogel microcarriers for cell cultures used in regenerative medicine. The product is scheduled for launch in January 2024 in Japan and overseas, beginning in the US. In June 2023, Teijin Frontier introduced new nonwoven microcarriers that enable speedy, large-scale, high-quality cell culture. The new nonwoven microcarriers combine Teijin Frontier's proprietary fiber process and nonwoven design technology, and fiber-related biomedical expertise by the Faculty of Engineering, University of Fukui, Japan. In October 2023, Semarion, unveiled the Early Adopter Programme for its SemaCyte Microcarrier Platform. SemaCytes developed by Semarion are cell carrier materials created using microchip fabrication technologies, nanomagnetism, and smart materials. These assaying microcarriers are flat and function as ultraminiaturized, magnetically steerable wells that carry small colonies of adherent cells into suspension to improve cell-based experiments. In November 2020, researchers from the Singapore-MIT Alliance for Science and Technology (SMART) developed a novel microcarrier for large-scale cell production and cell expansion. Employing this microcarrier would allow businesses to have higher yields in a more cost-effective way than traditional methods while lowering the number of steps involved in the cell retrieval process. This newly developed dissolvable Gelatin microcarrier from SMART can be used in cell expansion for treating various ailments, including bone and cartilage defects, and graft vs. host disease, i.e., the rejection of foreign bone marrow and cells. Therefore, introducing products such as PVA hydrogel microcarriers, nonwoven microcarriers, and SemaCyte microcarrier platform, and the initiation of new businesses through collaborations and partnerships to remain competitive in the market would create significant growth opportunities in the microcarriers market.

On the contrary, high cost of biologics and cell-based therapies hampers the Asia Pacific microcarriers market.

Based on product, the Asia Pacific microcarriers market is bifurcated into microcarriers beads and media & reagents. The microcarriers beads segment held 67.0% share of Asia Pacific microcarriers market in 2022, amassing US$ 245.48 million. It is projected to garner US$ 676.82 million by 2030 to expand at 13.5% CAGR during 2022-2030.

In terms of equipment, the Asia Pacific microcarriers market is categorized into bioreactors, culture vessels, and others. The bioreactors segment held 65.9% share of Asia Pacific microcarriers market in 2022, amassing US$ 241.46 million. It is projected to garner US$ 666.82 million by 2030 to expand at 13.5% CAGR during 2022-2030.

Based on application, the Asia Pacific microcarriers market is segmented into biopharmaceutical production, cell and gene therapy, tissue engineering and regenerative medicine, and other. The biopharmaceutical production beads segment held 51.9% share of Asia Pacific microcarriers market in 2022, amassing US$ 189.92 million. It is projected to garner US$ 534.02 million by 2030 to expand at 13.8% CAGR during 2022-2030. Further, biopharmaceutical production segment is categorized into therapeutic protein production and vaccine production.

Based on end user, the Asia Pacific microcarriers market is segmented into pharmaceutical & biotechnology companies, contract research organizations & contract manufacturing organizations, and academic & research institutes. The pharmaceutical & biotechnology companies segment held 55.7% share of Asia Pacific microcarriers market in 2022, amassing US$ 203.93 million. It is projected to garner US$ 565.52 million by 2030 to expand at 13.6% CAGR during 2022-2030.

By country, the Asia Pacific microcarriers market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.6% share of Asia Pacific microcarriers market in 2022. It was assessed at US$ 134.12 million in 2022 and is likely to hit US$ 367.05 million by 2030, exhibiting a CAGR of 13.4% during 2022-2030.

Key players operating in the Asia Pacific microcarriers market are Teijin Ltd, Bio-Rad Laboratories Inc, Sartorius AG, Danaher Corp, Corning Inc, Eppendorf SE, Asahi Kasei Corp, and Polysciences Inc, among others.