The global Bovine Serum market size was valued at USD 800.0 million in 2021 and is projected to reach around USD 1,290.0 million in 2030 exhibiting a CAGR of 5.0% in the forecasted period.
Based on source, this worldwide market is divided into sections for leaves, fruits and vegetables, barks, and roots. The market is divided into categories for aroma and medicinal plant supplements based on function. The market is segmented into powder, syrups, oils, capsules & tablets, and powder based on dosage type. The industry is divided into three categories based on application: pharmaceuticals, food & beverages, and personal care. The market is divided into online, brick-and-mortar stores, and other categories based on the distribution method. It is examined in terms of regions, including North America, Europe, Asia-Pacific, and LAMEA.
There are many applications for FBS. FBS is most commonly used in eukaryotic cell culture with concentration, where it provides a variety of essential nutrients and growth factors that encourage cell viability and proliferation.
A significant factor influencing the growth and demand of the foetal bovine serum market is the quick increase in culture media consumption in developing countries around the globe. Additionally, it is anticipated that greater R&D efforts will fuel market expansion by fostering the creation of novel biopharmaceuticals and the biopharmaceutical industry. An rise in funding and investments for research initiatives in both developed and developing countries also fuels market expansion.
However, ethical and scientific concerns about the potential exploitation of biotechnology research techniques as well as a shortage of qualified workers are limiting the market for neonatal bovine serum. Additionally, market growth is constrained by the availability of alternatives like chemically specific media, serum-free media, and others. Due to the recent sharp rise in FBS price, which acts as a significant restraint, the market for foetal bovine serum is also going through a paradigm shift. The FBS’s sharp rise in demand and accompanying decline in supply are blamed for this price increase. On the other hand, the major players in the market for foetal bovine serum believe that untapped opportunities in emerging markets will soon offer lucrative opportunities.
Product Insights
Stem cells have a broad range of applications in research studies and in the biopharmaceutical industry, due to which the market value for stem cells is the maximum, as compared to the markets for other product types. The efficiency of cellular reprogramming for induced pluripotent stem cells intends to the high demand for the product. Stem cells have benefits over other stem cell types due to the broad variety of their tissue sources. The broader range of application of the stem cell is expected to boost the segmental growth, as it needs bovine serum cell line for tissue culture. Additionally, the benefits of bovine serum in serum cell culture, such as its capability of stem cell morphology, differentiation, cell growth and expansion, and clonal efficacy, are boosting their adoption. A specific lot of bovine serum is tested widely for its capability to help in vitro growth of the undifferentiated stem cell lines. Moreover, there is an increasing trend of acceptance of technologically progressive stem cell lines, which pretences capabilities, containing steam-in-place (SIP) sterilization, filtration for sterility, and many others.
Some of the key players operating in the global bovine serum market include:
- Danaher (Cytiva)
- Merck KGaA (Sigma Aldrich)
- HiMedia Laboratories Pvt. Ltd
- Bio-Techne
- Sera Scandia (Biowest)
- Sartorius (Biological Industries)
- Atlas Biologicals
- Rocky Mountain Biologicals
- PAN-Biotech
- Thermo Fisher Scientific Inc.
- Other players
Some of the Recent Developments:
- In April 2021, Thermo Fisher Scientific Inc. and PPD Inc. entered into a definitive agreement in which Thermo Fisher will acquire PPD for USD 17.4 billion.
- In March 2021, Merck KgAA expanded the single-use assembly production unit at its Life Science Center in Molsheim, France.
Segments
By Product
- Charcoal Stripped
- Chromatographic
- Dialyzed Fetal Bovine Serum
- Exosome Depleted
- Stem Cell
- Other Products
By Application
- Biopharmaceuticals
- Human and Animal Vaccine
- Others
By End User
- Biotechnology & Pharmaceutical Industries
- Academic Institutes
- Others
By Geography
- North America
o U.S.
o Canada
o Mexico
- Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
- Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
- Latin America
o Brazil
o Argentina
o Colombia
- MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
The main goals of report are:
- To examine and assignment the extent of the international market for the market sector.
- To Researching the important gamers globally, their SWOT analysis, market value, and market share.
- To identify, describe, and mission market based totally on type, quit use, and geography.
- To take a look at the market advantages, challenges, dangers, and constraints in the world’s principal regions.
- To pick out key traits and variables that are advertising or inhibiting market growth.
- To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
- To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
- To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
- To strategically discover the essential gamers and completely take a look at their enlargement plans.
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