Magnetic levitation-primarily based totally technology had been evolved for positioning and sorting diamagnetic particles, which may be both organic and non-biological substances for use in bio-sensing and diagnostic purposes. Currently, many medical diagnostic methods are complex, costly, inefficient, and inaccessible to a huge populace. The necessities for specialized device and educated employees require that many diagnostic assessments be carried out at remote, centralized medical laboratories. Magnetic levitation is an easy but effective approach and may be implemented to levitate cells, which can be suspended in a paramagnetic solution and located in a magnetic field, at a role decided through equilibrium among a magnetic pressure and a buoyancy pressure. Thus, it is helpful for increased market growth.
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Data Bridge Market Research analyses the global magnetic levitation market growth in the forecast period 2022-2029. The expected CAGR of the global magnetic levitation market tends to be around 15.8% in the mentioned forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Opportunities
Improved Efficiency
The trending beneficial advantages associated with the technology is helping in uplifting the market size. For instance, improved efficiency in the treatment of challenging diseases such as cancer has increased market demand, and it is projected that researchers will develop magnetic levitation devices that will reduce the rate of heart failure and cancer patients.
Lack of Contact
Magnetic levitation holds multiple uses, such as clean energy, building facilities, transportation systems, weapons, and nuclear engineering. The common bridge in all these applications is the lack of contact and thus no friction point. This increases efficiency, reduces maintenance costs, and increases the system's useful life. Thus, this is a thriving opportunity to increase market growth.
Restraints/Challenges
High Costs
This technology is definitely helping to outgrow the market size, but one factor limiting the growth is the excessive high price of the technology. It is costly and thus it is not applicable everytime to use it tremendously.
Lack of skilled professionals
As this technique is beneficial in many ways in diagnosing many dreadful conditions, one factor can still hinder the market's growth. Not all professionals are skilled in handling these techniques, so the lack of skilled professionals decreases the market trend and may hamper patient life.
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