Newark, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.7 billion fetal bovine serum market will reach USD 6.0 billion by 2032. A nutrient-rich liquid called foetal bovine serum is made from the blood of developing cow foetuses. Animal cell culture medium mostly consists of foetal bovine serum (FBS), which is derived from the foetuses of cows. It contains several macromolecular and nutritional elements that are critical to cell proliferation. In addition, it contains minor levels of gamma globulin, carbohydrates, lipids, hormones, and amino acids. It is, therefore, extensively used for many different purposes, including supplying vital nutrients and promoting cell survival and proliferation in eukaryotic cell culture. Moreover, it is employed in biotech medication production, research, and the management of vaccinations for humans and animals.
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Key Insights on Fetal Bovine Serum Market
North America to account for the largest market size during the forecast period.
North America is expected to have the highest fetal bovine serum market share. During the forecast period, the region is anticipated to continue dominating the foetal bovine serum market. Foetal bovine serum is deemed essential in North America due to the presence of the greatest number of important players and a greater number of universities and private research labs that carry out extensive research and development activities. This makes North America the dominant region in the world. The United States possesses experienced labourers, well-established instruments, and greater finance facilities. To ensure excellent quality and safety, it also has stringent rules and regulations for the manufacture of foetal bovine serum. The adoption of expensive serum products, as a result, has fueled global market expansion.
The vaccine production segment dominated the market with the most significant revenue of USD 0.42 billion.
The vaccine production segment dominated the market with the most significant revenue of USD 0.42 billion. In the process of making vaccines, FBS is a frequently utilised supplement. Growth factors and nutrients that encourage cell growth and proliferation are abundant in it, and these are necessary for the synthesis of several vaccines. The COVID-19 pandemic led to a surge in scientific efforts towards the creation of vaccines. As a result, the need for FBS for vaccine development and manufacture surged unexpectedly.
The pharmaceuticals and biotechnology industries segment dominated the market with the most significant revenue of USD 0.54 billion.
The pharmaceuticals and biotechnology industries segment dominated the market with the most significant revenue of USD 0.54 billion. This is due to the use of foetal bovine serum in medication development, which is growing. The growing use of foetal bovine serum for this purpose by pharmaceutical and biotechnology businesses, coupled with the need to conduct more research due to the rising prevalence of chronic diseases like cancer, is propelling the expansion of this market.
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Market Dynamics:
Drivers: Increasing application
The demand for foetal bovine serum products is rising as a result of the growing use of foetal bovine serum in medication development and vaccine manufacturing. The COVID-19 epidemic positively impacted the global market. The pandemic increased the need for vaccine research to stop the virus's spread and lessen its harmful effects.
Restraint: High cost
The high cost of foetal bovine serum makes cell culture an expensive technique, which restricts the market's expansion even though it is essential to biological research. As a result, competitors are creating more affordable options.
Opportunity: Increasing R&D activities
Increasing R&D expenditures and the launch of new products into the market by prominent players are some of the main factors propelling market expansion.
Challenge: Decreasing production
The utilisation of cattle in the manufacture of fetal bovine serum (FBS) has been recognised as a factor driving up FBS prices. Raising FBS has increased the amount of cattle being killed; PETA claims this is illegal, and producers face steep fines that drive down their offerings. Due to a significant increase in demand for FBS and a decrease in production, prices have increased, challenging the market’s growth.
Some of the major players operating in the fetal bovine serum market are:
● Thermo Fisher Scientific Inc.
● Rocky Mountain Biologicals
● Sartorius
● Bio-Techne
● Merck KGaA
● Danaher
● HiMedia Laboratories Pvt. Ltd
● Sera Scandia
● Atlas Biologicals
● PAN-Biotech
Key Segments covered in the market:
By Application:
● Vaccine Production
● Drug Discovery
● In-Vitro Fertilization
● Cell-Based Research
● Diagnostics
● Toxicity Testing
● Cell Therapy
By End-User:
● Pharmaceuticals and Biotechnology Industries
● Diagnostic Labs
● Research Labs
● IVF Centers
● Academic Institutes
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About the report:
The global fetal bovine serum market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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