The Fetal Bovine Serum Market is Poised to Register Significant Growth by 2024 Owing to Increasing Demand for Serum Free Cell Culture Products
The fetal bovine serum market encompasses serum derived from fetal bovine blood which finds wide application as a supplement in cell culture media across various industries. Fetal bovine serum provides growth promoting supplements such as attachment and spreading factors, nutrients, vitamins, and carrier proteins which aid cell growth and division in culture media. It is indispensable for cell culturing procedures in research, biotechnology, manufacturing therapeutic cells, and tissue engineering. The rising prevalence of chronic diseases and growing awareness regarding personalized medicine has augmented research activities focused on developing novel drug formulations, vaccines, and therapeutics at a rapid pace. This has significantly driven the adoption of fetal bovine serum in cell culture procedures over the years.
The fetal bovine serum market is estimated to be valued at USD 1.86 Bn in 2024 and is expected to reach USD 4.54 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Heightening demand for serum free cell culture products from developed economies is anticipated to propel market growth during the forecast period.
Key Takeaways
Key players in the fetal bovine serum market Merck KGaA, Thermo Fisher Scientific Inc., HiMedia Laboratories, Bio-Techne, PAN-Biotech, Atlas Biologicals, Inc., Rocky Mountain Biologicals, Cytiva, Sartorius AG, and SeraCare Life Sciences.
Key Opportunities in Market - The Fetal Bovine Serum Market Demand is anticipated to be driven by the growing biosimilars market, which represents a key growth opportunity for fetal bovine serum manufacturers. Additionally, increasing investments by governments and private organizations in cell-based research is expected to present lucrative business opportunities over the coming years.
Global Expansion in the market - Key fetal bovine serum producers are focusing on expanding their presence across emerging economies of Asia Pacific and Latin America. These regions are expected to serve as high potential markets owing to improving healthcare infrastructure and increasing government funding in medical research.
Market drivers
- Increasing demand for cell-based research for developing novel drug formulations and biologics: Fetal bovine serum acts as a supplement for cell growth in cell culturing procedures which are an integral part of cell-based research.
Market restraints
- Potential transmission of pathogens: Fetal bovine serum runs the risk of contamination from pathogenic infectious agents such as prions or viruses during sourcing, manufacturing, and storage. Stringent regulatory oversight also increases compliance costs for manufacturers.
Segment Analysis
The fetal bovine serum market can segmented on the basis of application, end-user and region. The application segments include biopharmaceuticals & therapeutics, cell culture, human & animal vaccine manufacturing, diagnostics and other applications. Among these, cell culture segment dominates the market and holds around 65% share as FBS is majorly used in cell culture media to support cell growth. Cell culture process requires serum as a nutrient component and FBS is the most commonly used serum in cell culture media.
Global Analysis
Regionally, North America is the largest and fastest growing market for fetal bovine serum. Increasing research activities in life science field, growing biopharmaceutical industry and rising stem cell research are driving the market growth in North America. Asia Pacific fetal bovine serum market is projected to witness highest growth during the forecast period owing to growing pharmaceutical and biotechnology industries, rising stem cell research and increasing investments in healthcare & life science research in countries like China and India. Europe fetal bovine serum market is projected to grow at steady rate over next few years.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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