According to the report titled ‘Global Magnetic Beads Market Size study, by Application (Bioresearch, In-vitro Diagnostics, Others) and Regional Forecasts 2021-2027’ available with Market Study Report,  global magnetic beads market was valued at USD 2.22 billion in 2020 and is expected to project an annual growth rate of 17.5% during 2021-2027, thereby accumulating USD 6.86 billion by the end of analysis timeframe.
 

Emergence of in-vitro diagnostics, investments in the field of genetic & microbiology research, and usage in toxicity assessment of products are the factors propelling the growth of global magnetic beads market. According to National Investment Promotion & Facilitating Agency (NIPFA), the Indian biotechnology industry was assessed at USD 70 billion in 2020 and is expected to be worth USD 150 billion by 2025.
 

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For the uninformed, magnetic beads are used in molecular biology applications, inclusive of droplet digital PCR (DDPCR), next-generation sequencing (NGS), polymerase chain reaction (PCR), quantitative PCR (qPCR), protein purification, genotyping, and gene amplification, just to name a few. These beads possess superparamagnetic properties as they are made up of iron oxide (magnetite).
 

Innovations and improvements in the healthcare infrastructure will facilitate the industry outlook. On the contrary, strict regulation policies by the government is likely to pose a threat the global magnetic beads market expansion during the forecast timeline.
 

Based on application spectrum, the marketplace is bifurcated into in-vitro diagnostics, bioresearch, and others. Moving on to geographical terrain, Asia Pacific, Europe, North America, and Latin America are the key regions considered to understand the industry dynamics.
 

The report cites that North America is currently dominating the market share and is expected to exhibit strong growth graph during the forecast period, owing to rapid industrial and technological developments.
 

Similarly, Asia Pacific market is also reckoned to amass a robust returns by the year 2027, due to factors like development in the healthcare vertical, increase in disposable income, and presence of noteworthy players in the region.
 

Renowned companies in global magnetic beads industry are Pure Biotech LLC, Merck Chimie S.A.S-Estapor Division, Ferrotec Corporation (Ferrofluidics), Dynal Biotech LLC, Advanced Magnetics Inc., Immunicon Corporation, Promega Corporation, Magnetically Delivered Therapeutics Inc., Cortex Biochem Inc., and Bangs Laboratories Inc.