Fetal Bovine Serum Market Research and Demand: 2022, Emerging Development Trends, Growth Prospects and Innovative Plans by 2028
Fetal Bovine Serum Market Outlook 2031
The global fetal bovine serum market was valued at US$ 842.73 Mn in 2020
It is estimated to expand at a CAGR of 6.4% from 2021 to 2031
The global fetal bovine serum market is expected to surpass the value of US$ 1.6 Bn by the end of 2031
Manufacturers Leverage Revenue Opportunities Due to Surging Demand amid Coronavirus Crisis
The fetal bovine serum market is moderately impacted by the COVID-19 pandemic due to lockdowns and closing of several research institutes & manufacturing units. However, there was a rise in demand for fetal bovine serum due to its increasing use in the production of antiviral drugs and vaccines during coronavirus. The growing use of fetal bovine serum in the preparation of vitro cell-culture is driving the demand amid the ongoing COVID-19 pandemic.
Market players and stakeholders have increased the on-demand production and supply of fetal bovine serum to grab incremental opportunities. Moreover, surging demand for effective vaccines for reducing the impact of the COVID-19 infection has created potential revenue opportunities for manufacturers. Academic and industrial researchers, and scientists use fetal bovine serum (FBS) in their cell culture media for biotechnology research, vaccine manufacturing & production, and cloning & animal diagnostics.
Increase in Support from Governments to Boost R&D in Pharmaceutical Sector
Fetal bovine serum is used as a raw material for research activities carried out in pharmaceutical organizations. The growing number of biotechnology, pharmaceutical, and diagnostics companies demand high fetal bovine serum for use. Furthermore, governments of various developing countries are supporting these research activities of pharmaceutical and biotechnology companies across the globe. The increasing awareness about the nutritional advantages of fetal bovine serum is fueling the growth of the fetal bovine serum market. Fetal bovine serum consists of various macromolecular factors, amino acids, sugars, lipids, and hormones that are necessary for cell growth.
Rise in Usage of FBS in Biopharmaceuticals to Drive Global Market
The flourishing growth and development of biopharmaceutical companies is a significant factor contributing to the fetal bovine serum market growth. The use of fetal bovine serum as a growth supplement for in vitro culture system of eukaryotic cells is rising. The fetal bovine serum regulates cell membrane permeability and serves as a carrier for lipids, enzymes, and micronutrients into the cell. Technological advancement in biopharmaceuticals, innovative drug development process, and rising applications in cost-effective personalized medicine are some of the major factors driving the demand for biologics. Biomolecules are increasingly being used for the effective treatment of various diseases in healthcare companies. Biopharmaceutical companies are gaining attention due to the substantial investments and innovative manufacturing practices.
Incremental Opportunities for Market Players in North America
Since fetal bovine serum is an important component of cell culture media, its demand is increasing in North America. This nutrient-rich fluid is used in applications such as eukaryotic cell culture. North America is projected to account for the largest share of the global fetal bovine serum market during the forecast period. Expansion of biotechnology sector and increase in the number of pharmaceutical companies and research & development institutes in U.S. and Canada are driving the demand for fetal bovine serum for research and development of new drugs.
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Ethical Issues Affecting Fetal Bovine Serum Market
One of the key factor affecting the growth of the fetal bovine serum market is the ethical issues of using animal products. Awareness about animal safety and the number of animal activists in developing countries are rising. Fetal bovine serum is produced from pregnant cows during slaughter. This process is without giving a proper anesthesia to fetuses, causing intense pain and discomfort to them. Thus, several regions are started to use synthetic alternatives to FBS. In addition, rising complexities and technical issues associated with the use of FBS in cell culture are negatively affecting the market growth during the forecast period.
Fetal Bovine Serum Market: Overview
Fetal bovine serum (FBS) is the liquid fraction of clotted blood from fetal calves, depleted of cells, fibrin, and clotting factors, containing a large number of nutritional and macromolecular factors essential for cell growth
Bovine serum albumin is a major component of FBS. Growth factors in FBS are essential for the maintenance and growth of cultured cells. FBS also contains small molecules such as amino acids, sugars, lipids, and hormones.
Fetal bovine serum is a major raw material, which is used in biotechnology, pharmaceutical, diagnostics, and veterinary industries. Hence, demand for this serum is increasing, as majority of existing and new pharmaceutical, biotechnology, diagnostics, and veterinary companies focus on research & development and rely on fetal bovine serum due to its proven effectiveness and safety.
Fetal Bovine Serum Market: Drivers
The number of pharmaceutical companies is increasing across the globe. These companies focus on research & development activities. Various government initiatives support these activities of pharmaceutical & biotechnology industries. Therefore, demand for fetal bovine serum is increasing, as it is a raw material and even suppliers have not been able to meet the demand for fetal bovine serum due to shortage in bovine serum blood. This has led to rise in the prices of fetal bovine serum.
Various governments are collaborating and providing support to pharmaceutical industries or other academic research institutes for research requirements. This boosts the growth of the market.
Fetal Bovine Serum Market: Segmentation
In terms of application, the global fetal bovine serum market has been classified drug discovery, cell media culture, in vitro fertilization, human & animal vaccine production, diagnostics, and others
Based on end-user, the global fetal bovine serum market has been divided into research & academic institutes, industry (pharma, biotech, etc.), and healthcare facilities
Each of the segments has been analyzed in detail for product trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The fetal bovine serum market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031, along with market size estimations.
Fetal Bovine Serum Market: Regional Overview
In terms of region, the global fetal bovine serum market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
North America accounted for the largest share of the global fetal bovine serum market in 2020, and the trend is projected to continue during the forecast period. Growth of the fetal bovine serum market in the region can be primarily ascribed to significant healthcare expenditure, early availability of technologically advanced products, increase in geriatric population, and presence of a large number of fetal bovine serum manufacturers.
Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the fetal bovine serum market in the region.
The current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2017 to 2031, along with CAGRs for the period from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the market, which are estimated to help new companies willing to enter the market and existing companies to increase market share and in the decision-making process
Major Players
The report concludes with the company profiles section that includes key information about the major players in the global fetal bovine serum market
Leading players analyzed in the report are
ANZCO Foods (Bovogen Biologicals Pvt. Ltd.)
ATCC
Bio-techne (Atlanta Biologicals)
Captivate Bio
Danaher (Cytiva)
HiMedia Laboratories
Merck KGaA
PAN Biotech GmbH
Rocky Mountain Biologicals
TCS Biosciences Ltd.
Thermo Fisher Scientific
Zen-Bio, Inc.
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Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
